Spent 8 hours trying to get a 401k rollover done because one rep kept saying I needed a notary

First rep told me my old provider needed a stamped signature, second one said just a phone call was fine, and after bouncing between three different people at Fidelity I finally got it done in 15 minutes has anyone else run into this kind of conflicting info from retirement companies?

2 comments

2 Comments

lee_bailey652d ago

Fidelity did the same thing to me back in March. I called three times and got three different answers about whether my old 401k was eligible for a direct rollover with no check involved. First person said a medallion signature guarantee was required, second said just a regular signature was fine, third finally just processed it over the phone while I waited. If you can, try their online secure message system instead. Getting it in writing from one person usually straightens things out faster than calling blind to whoever picks up.

ryang772d ago

...and it's not just retirement accounts either, it feels like every service industry has just given up on training people properly. I had the same runaround trying to refinance my car loan last year. First person at the credit union told me I needed to bring in the actual title, second one said a payoff letter was fine, third one just did it all through text messages. It's like nobody actually reads the full procedure anymore, they just guess or go off what they heard from someone else. Makes you wonder if the people on the phone even have access to the same system sometimes.