BenefitWallet Reviews 176

This company is completely dysfunctional. Between my wife and I we have gone back and forth with them on 6 different claims with required documentation changing each time. No communication on why claims were rejected. Worked with a customer representative over the phone following there directions and was informed days later sorry my manager wouldn't accept what I said so your claim has been rejected. This was for Dependent Care spending account reimbursements with valid receipts from YMCA and BASCOL day care providers.

Website is a complete mess an non navigable also. No clear documentation, constant crashes. Steer as far clear of this company as possible.

We for years used a different benefits provider and never had any issues. Everything was clear and straight forward very professional.

I have this service through my employer after they switched to them 2 years ago. I've come to expect to jump through hoops no matter what claim is submitted or whenever the card is used.
While my child was in pre-school / daycare every claim I submitted was rejected. I was told that even though it was for a daycare the company that handled the billing was called Tuition Express. Because it had the word "tuition" on the receipt they could not accept it. So off to the daycare I go to get a special receipt and have the daycare provider sign a form every week.

Fast forward to the child now being in school. I'm submitting receipts and everything seems fine for 3 months. Now I'm back to having claims rejected. I'm now told that the receipt doesn't specifically say "this is for daycare" on it. Even though the receipt has the name of the school, the school district, and breaks down the AM and PM care for each day.

Now on to medical FSA. Surprisingly they've never asked me for any proof of any prescription payments. But I've not seen a dental payment that they've not asked for a receipt. The dentist that I see has the name dentist in the name when the card is swiped. They will sometimes wait months asking for an EOB for medical and dental. I've not jumped though so many hoops before. My wife's FSA simply does not make you jump through hoops like this. You simply submit your claim or swipe your card and you're done. My benefit wallet seems like they have a running bet on how many claims they can deny.

Extremely poor company. I would rate zero if possible. After my wife signed up for the program several years ago, we never heard back in any form. No statements, no communication whatsoever. Since HSA is a tax deferred type account, I expected they would at least send annual statements for IRS records
We cancelled after a conversation with customer service who was very hard to understand

My former employer used BenefitWallet for their HSAs. After I left my employer the company didn't send me any notification about changes. I never received any emails from the company- even though I signed up for email notifications. (They charge for paper notifications). After I left my company BenefitWallet charged me $3.25 a month in 'management fees,' but they didn't notify me, give me updates on my account, manage my money to maximize the amount- the fee comes with no services from the company. In essence they were slowly using fees to take the money that was supposed to be slated for my health care. (The company also charges 2.50/month-management fees, to invest the money).
I called to get the fees waived and stop any future fees- The telephone customer service representative told me she would put in a request to 'operations' and it would take 3-5 business days. I asked about receiving a notification email about the results and was informed that I could call back to hear the answer. When I called back a week later I was informed that my request was denied. The operations team decided that I was sent the information 5 years before and I should have remembered the fees I would incur.
The customer service team doesn't speak english very well, so it's hard to understand what is happening to your account. They don't have any power to make changes to the account or make decisions. That happens at an 'operations' level. All the decision making happens at a level where the customer is not allowed to be involved- and no one reached out to talk to me about the decision. Benefit Wallet is more interested in taking your money from you- than helping you save money for your medical issues.
Transfers take more than 7 business days to be accomplished. This makes meeting minimums VERY difficult.
Start transferring your funds to a different HSA account NOW. Get your employer match in the account and transfer the money out to a company that won't charge you all the fees.
Bad customer service
A lot of fees
Slow bank transfers
Difficult to use website and phone tree
No communication with customers

I had a HSA account though my employer with these guys and they are horrible they Fee for every and anything! They should be shut down! I switched to Fidelity. Know that all HSA are not equal! Don't settle for these thieves ! Every month was a 2.50 fee for god knows what and another fee (25$) to take my money out and transfer it to fidelity. When you call them they basically tell you "well you should of read the fine print."

BenefitWallet (Custodian Bank of NY Mellon) is my employer’s HSA vendor, and I am now a retiree. Customer service, investment selections, and user online framework are problematic.
(1) Customer Service is lacking. Agents very polite but unempowered to resolve. The online email CS regularly directs me to call the phone number to get my question answered, even for simple issues. These calls seem to have unnecessarily long hold times. Procedurally, they request you to call back to get an answer to an escalated question (they seem to not be allowed to call customers back).
(2) there is a monthly fee for retirees if less than $1000 in the banking side of the HSA.
(3) Investment portal (through "SaveDaily") offers relatively few Mutual Funds. At least 5 of the ~24 are only 2-star or 3-star rated by Morningstar (as of Jan 04, 2020). Another monthly fee applied for retirees.
(4) Sale of MF investments is slow. It took 2 working days for SaveDaily to sell the funds after my electronic request, and another 4 working days for the funds to transfer to the banking side of the BenefitWallet HSA (8 calendar days altogether). This happened on two occasions. Unacceptable.
(5) The SaveDaily (investment) online tools are cumbersome; simple things like return-on-investment are not easy to find.
SUMMARY: If you are investing your HSA dollars, there are better vendors to work with.
IN CONTRAST: My experience (3 years) with Elements Financial's HSA which uses TDAmeritrade for investments has been excellent. It provides the full array of TDAmeritrade investments and tools and fees are zero or low. I’ve had very little need to reach out for CS help and when I have it has been satisfactory. (I'm rolling remaning funds in BenefitWallet to the other acocunt.)

This company opened a FRAUDULENT account WITHOUT my authorization.
DO NOT USE THIS COMPANY.

Absolutely awful customer service. åspite my ability to answer all security questions accurately. They also refused to add me to the account as another primary account holder or talk to me with my husband's approval (after he answered the security questions).

I was trying to make a payment to our midwife for the remaining balance in our account. The charge wouldn't go through. A Benefit Wallet Customer Service Representative informed us that you can only make whole number charges with your Benefit Wallet Visa debit card - no cents can be included if you are using your remaining balance. The only way you can make dollar and cents charges is to either pay out of pocket and choose to be reimbursed or to use their "Pay a Provider" link on the website, which takes 3-5 business days. A luxury most providers aren't willing to wait on.

To top it off, they will not transfer any balances under $1.00 if you close down your account. So there is absolutely no way for us to reclaim the $0.25 left in our account - when our account is closed down, they keep any money left in it.

How they can get away with this, I have no idea. They're stealing our money. Sure, it's just change. But how many thousands of customers have they done this to over time? Absolutely worthless company. We're closing our account and taking our business elsewhere. Enjoy your $0.25, Benefit Wallet. I hope it's worth a customer and our word of mouth - we will be sharing with everyone and leaving reviews everywhere of our experience with your worthless service.

I have had no issues with my card until I lost it . Called in, and the representative was so nice said I would receive my new card in 7 days and charging me 5 dollars for new card .. 10 days later no card .. Called in after 5 the lady who answered spoke broken English could not understand her asked her to repeat herself at least 20 times and found out 12 days later after reporting my card it was mailed yesterday... So even if you have card threw work and you also contribute every paycheck you are under their discression when they sent it out even though they are charging card fees to replace. They will also connect you to an operator from a country who the speaker is almost not understable and had to ask her so many times to repeat herself. Yes normally I would not have issues but 2 weeks later no card called and rep didn't understand English and nor could I understand her ..

I didn't realize my card had been suspended until in Dr.'s office. I had checked my home page on BenefitWallet and it said my card was active. When I called customer service, I had to be navigated through to a page I never would have found or thought to look at.

There are so many verifications of receipts from medical offices they ask for and then will say they can't read them.

This company is the worst to work with. Customer service people are extremely hard to understand. They will not provide you with any information about your account over the phone. I've had this acct. for awhile now and cannot login on their website (which is the only way you can get your information). They have sent me paperwork to fill out so I can login, still no luck. Now they want to send me a verification code which will take another 10 days to get and then I get to call these delightful people back to try again. All the while this company is charging me maintenance fees per month. So they can use my money but I can't. Excellent!

Worst Experience ever! 2nd time using them for reimbursement account, and refuse to pay claims even though I had perfect receipts.Rude customer service, that has no idea what they are doing.

They have the absolute worse customer experience dashboard. Information asked for from the prompts, are not submitted to the agent, 1/2 of the time you are directed to HSA, when you need FSA. And their inability to transfer is ridiculous. And the amount of paperwork is also ridiculous. You swipe the card, it is approved, then 24 -- 48 hours late the card has been suspended until you submit more receipts and EOB's. This is a reflection on poor investment in technology. I have complained to our TPA, we shall see.

Reimbursing FSA expenses, in particular dependent care FSA is a nightmare with them. They are rejecting many invoices which other FSA provider accept. They claim that there are "formal issues" with the invoice and make you go back and forth to the doctor to create invoices that exactly match word by word what they need. This drives both patients and health care provider crazy.