Optum Bank, Inc. Corporate

Complaint ID: 8193410

Product: Money transfer, virtual currency, or money service

Sub-Product: Domestic (US) money transfer

Issue: Unexpected or other fees

Subissue:

Company: OPTUM BANK, INC.

Complaint: I'm a XXXX from XXXX XXXX XXXX XXXX XXXX, and I pay my XXXX medical premium payments to Optum Financial, which in turns pays my medical insurance. Optum Financial collects these XXXX medical premiums through a XXXX unit or organization. The website informs consumers that any online payment transaction, by credit card or bank transfer, incurs a {$20.00} processing fee. I use bank transfers from by checking account, which cost Optum Financial nothing. So they are collecting {$240.00} per year to take my monthly medical premium payments. This is a junk a fee, charged by a greedy company, simply because they can get away with it.

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

---

Complaint ID: 8192894

Product: Checking or savings account

Sub-Product: Other banking product or service

Issue: Managing an account

Subissue: Banking errors

Company: OPTUM BANK, INC.

Complaint: Optum Bank is in nearly total violation of the disclosure requirements of 2 CFR Part 1030 - Truth in Savings ( Regulation DD ). Specifically, Optum Bank is failing to comply with substantially all of the requirements of 1030.4 Account disclosures ; 1030.6 Periodic statement disclosures ; 1030.7 Payment of interest ; 1030.8 Advertising. Perhaps most importantly, in violation of Regulation DD, the APR on Optum Bank Healthcare Reimbursement Accounts is not displayed anywhere on the Optum Bank web site or in any written material that is automatically provided to account holders. Furthermore, nowhere is it disclosed whether the monthly interest payment is based on the balance at the end of the month, the average balance during the month or some other value. I was able to obtain the APR by submitting a prior complaint to the CFPB but account holders should not have to submit a complaint to the CFPB to obtain information that should be readily available under Regulation DD.

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

---

Complaint ID: 8180329

Product: Checking or savings account

Sub-Product: Other banking product or service

Issue: Managing an account

Subissue: Funds not handled or disbursed as instructed

Company: OPTUM BANK, INC.

Complaint: Resolution of customer issues through the standard phone support channel is hindered by the fact that the vast majority of their representatives operate from foreign countries. The phone connections to these representatives are consistently plagued by noise, jitter, dropouts and instability. This creates a significant barrier to effective communication. Sometimes the phone connections drop during the calls, which requires the customer to have to restart the entire process. Furthermore, the foreign-based representatives often struggle to comprehend US English, compounding the difficulty in resolving issues over the phone. Even after multiple attempts to seek assistance through phone calls, problems persist, compelling customers to escalate their grievances by submitting complaints to the CFPB. It should not be necessary for customers to have to routinely go through the lengthy and tedious process of ( 1 ) submitting a claim ; ( 2 ) calling customer support to have corrections made ( that are often still not actually made ) ; ( 3 ) submitting a complaint to the CFPB ; ( 4 ) have an Optum Bank rep in the USA respond to the CFPB complaint by requiring the customer to fill out a paper form that duplicates their online submission ; ( 5 ) submit the paper form and supporting documents by email, fax or regular mail.

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

---