I share your bad experiences with Fidelity. They badly messed up a 403b transfer (costing me), they could only be contacted at a specific phone number, where they covered up and lied about it. I don't know where the Fidelity good service myth comes from.RickBoglehead wrote: ↑Tue Dec 04, 2018 10:59 amI submitted my HSA paperwork to Fidelity on 11/26/18, via fax, as instructed, because I'm transferring from a bank.
I got an email that my paperwork was not received. I called, and they checked and verified that in fact the fax was received, and that I should ignore them message. Because I am going bank to bank, there is no online signature option. I was told by my initial rep to send it in via fax, which he provided, because he looked up my sending bank and said "they don't need a signature".
Fast forward to today. I tried to chat with the HSA department, you cannot. I tried to email with them, you cannot. I called and spoke to a rep who found the same "Paperwork Not Yet Received" status. I told her that this had already been checked and was received and I was told to ignore the message. She said "that's not right, the message is supposed to be accurate". She showed me how to type in Transfer Tracker in their search box and get to the status, which showed "Paperwork Not Yet Received".
She offered to check again with the back office, confirm all was in order, and check the status of the transfer. When she came back on, she said that nothing had been done, and that the transfer had now been "expedited". She surmised that because of this message (Paperwork Not Yet Received), nothing had been done, even though THEY told me to fax in the documents. She questioned why I faxed it in, and I told her exactly why - because their rep told me to...
This is going along the path that I experienced with Fidelity NetBenefits in late 2017 with my wife's 403B and resulted in me pulling nearly all the assets that Fidelity held from them and making Vanguard our 99% provider. I clarified with her that in fact NetBenefits has nothing to do with this account.
The only reason I am moving to Fidelity is to save $30 in annual fees ($3 per month minus interest earned) on a paltry, $1,300, account that I intended to put into a total stock market index fund and leave for 10 years. If Fidelity continues along this line I'll just cancel the transfer and keep paying the fee. Strike 1 so far. For those that love Fidelity's "great" service, it's not.
With this HSA transfer, I'm in the long-term "Paperwork Not Yet Received" limbo, with no way to confirm that they actually got it. I'm only transferring the uninvestible cash portion from another HSA, so I'm just going to wait and see. We're only putting up with this because the HSA environment is generally so bad compared to other account types.
On another note, if your HSA is only going to be $1,300, I would suggest just spending it down to zero and being done with it.