BPAS Reviews 29

Lost 6k in the first quarter of 2025 on 135K portfolio supposedly in a moderate model. EVERY fund lost money. When i retired I Rolled it over into a Franklin mutual fund and made 5k since November. Took 2 weeks to roll it over

If speaking with customer services, get their name and your ticket number before hanging up! Requested balance distribution for my rollover IRAs from a previous employer over a month ago so I can consolidate with my Fidelity account, and still haven’t received the distribution checks from BPAS. Have called twice, and was told checks would be resent. Spoke with someone fairly competent in customer services a few days ago, and she claims that there’s no record of me calling or making that initial resend request. I have evidence of the phone call in my call log.

Horrible customer service!! People are rude, unwilling to explain exactly what they need as of receipts. They keep denying ever receipt I send in. Then they threatened to shut off my health care verba visa card. What kind of company threatens to stop a health service. Not a company I want to be part of. I tried to cash out and never use them again, but they refuse to cash me out.

This is the worst company to invest money with. They are letting my old employer keep our money tied up in the employers bankruptcy. Have not released it yet and is now charging us fees to have it!!!! I want my money now!!! And they will not release it, and they get away with this stuff because regular common folks cannot afford a lawyer! I hate this company!!!!

1 star because I can't leave a 0.

Terrible customer service, NEVER returns communication. I'm just SOL because the company I worked for closed 10 years ago and they never worked with me to do anything. So I'm out $1000+.

Don't use these people

HSA Reimbursements
Don't bother, it is such a pain they want a receipt for everything, even your HMO copay.
It's easier to pay out of pocket then submit claims to this company, so sorry our employer picked this company, hopefully we will switch to another company.

We have a Veba account. The requests are ridiculous. The amount of time spent on this is almost a full time job in retirement. Their website will only take 4 documents & then you have to fax or mail. I am not sure why everything is so difficult. The money is ours Such a poor customer experience. An example is when you go online you have type in a code when seconds later you go to print, they as for the code again. Exasperating. Would not have participated in this program if we had any information about their processes. It is our money. So unfortunate. They need a much improved website.

Our 401k was through BPAS and it's been a terrible experience. The customer service is beyond bad....can we give negative stars. We tried getting on to the website, and could not. Called and spent hours on the phone waiting multiple times, only to get rude and unhelpful opertators. They would not assist us as we could not "verify" the account. Turns out some one had entered information incorrectly on their end. We had to jump through hoops with rude people to get it fixed. As we've tried remvoing money from BPAS to transfer it they make it extremely hard. Multiple contacts required, all the while waiting excessively long time on hold, and getting rude people on the phone. Terrible company, avoid them if you have a choice!!

BPAS is the worst. I have an VEBA type HSA account with them, their portal is terrible, and if you upload more then 4 pieces of need documentation you have to fax or snail mail the rest in. They make any excuse they can to deny you your money. Their communication is awful!

INVESTORS BEWARE!!!
I wish there was a way to give zero stars. It has been 6 weeks since I submitted a withdrawal request and I have not received my money yet. It took them over a month to process my request and then told me it takes 10 business days for me to receive it in the mail. How can they dictate how long it takes the post office to deliver mail? The check is coming from a few towns away in the same state. I made request because of an emergency. Needless to say, the lack of urgency made my situation even worse. If your employer uses this company, RUN don't walk away.

I had a lump sum buyout deposit was made and then reversed out of my account BECAUSE THEY DEPOSITED THE WRONG AMOUNT!! Causing my checking account to be in a hole and bouncing back ach withdrawals days of the havoc it caused meeee are still trying to be fixed because obviously these people are incapable of managing peoples finances and the company that hired them too handle my money!! Incredible nightmare of a mess and I’m infuriated with the situation they have caused the mess for me too cleanup!!

I DONT RECOMMEND USING THESE PEOPLE. THEY WILL STEAL YOUR MONEY AND MAKE EVERY EXCUSE WHY YOU CANT ACCESS YOUR FUNDS. Had to get HR involved because they will not release YOUR money. And don’t try to get a supervisor to help they have been rude and have no clue as to how to help you.

After my father passed away I've reached out to close his account after multiple attempts, and almost 9 months all they will tell me is we are taking care of it and that they can't talk to anyone about his account.

My experience with BPAS has been nothing short of a nightmare. They charge an exorbitant $50 fee just to allow you to access your own investments and transfer them to another institution. This is a blatant money grab that adds insult to injury.

The process of transferring is marred by endless delays caused by BPAS requesting nonsensical proof and information about where to send the check. It's as if they're intentionally making it difficult for you to access your own money.

Their website is a constant source of frustration, plagued by technical issues that only add to the headache. But the real disappointment lies in their customer service. The representatives are not just clueless; they are outright rude and condescending. It's shocking how unhelpful they can be.

Furthermore, attempting to escalate issues to a supervisor is an exercise in futility, as they are never available to talk to.

BPAS's relentless demands for additional information and their obstructionist approach make it feel like they're doing everything in their power to prevent you from accessing your own funds. It's your hard-earned money, and they should not be making it impossible to access.

I'm not alone in my frustration; others have experienced similarly negative situations, with high fees, low returns, and an overall lack of transparency and customer service. If there were a way to pursue a class action lawsuit against this company, I'd be on board in a heartbeat.

In summary, BPAS is a company that prioritizes profit over its customers' needs and convenience. I deeply regret that my employer chose to work with this company, and I would strongly advise anyone to explore alternative options for their financial management.

Never, never, never is what I submit enough to justify a reimbursement. Always more requests for this and that. It's my money! Stop making it impossible to access it. So sorry my employer picked this company.

I worked in Puerto Rico with a company that use BPAS. Recently I verified the total performance Jan/2008 to Jun/2023 which is a shame (Yesss is negative) -30.6%. How in this world exist a BPAS Trust Company of Puerto Rico with this result? I never done any Withdrawals or Loans. Fees are super high and I am sure my grandma knows better how to protect customers' money.

Incredibly high fees for just maintaining an account, not even trading. Fees outstripped earnings every year for 6 years just to hold some basic bond funds. Employer rolled over into BPAS, I wish I had transferred back out the next day.

If I could give zero stars I would. Customer service is terrible. Every representative has been rude and condescending. The company makes it very difficult to use the money in the account, asking for too much…more than what is on a typical receipt from a doctor or pharmacy. Very inconvenient. Feels like they are trying their best to keep us from using the money. So frustrating. Would be nice if the representatives were helpful instead of being a jerk. We have called multiple times and every experience has been the same.

I have watched my money being LOST YEAR AFTER YEAR! This company is a BAD choice for retirement/ira/investment DO NOT go with this company I have been with them since 2016-2022 and have NOT even earned 1.00!! IT ALL BEEN A LOSS-NO GAIN with BPAS!
Sincerely UNSATISFIED CUSTOMER!!

This company has consistently lost money on my account for the past 5 years. I finally opened a new account elsewhere, and they charge $75 dollars to transfer. If only they would deduct the amount they had lost,,, I would have a free transfer + more!