Ibeth Villanueva

Review of Millennium Trust Company

So I had the unfortunate experience of having my m...

So I had the unfortunate experience of having my money sent to this company. Initially I was told that my money was going to be sitting there and that I could take it out I was never disclosed fees at the time. I wasn't even under the impression that it was an IRA. I was able to get a job within three months of that transfer and I found out that there was a closing fee of $25 because technically they don't close your account for a couple years because they monitor it according to IRS guidelines. I don't agree with the company's practices I don't think that it's fair for people's money to get rolled over here and then they are pretty much stuck because they didn't have anywhere to put the money. Their customer service closes at 4pm CT. which is extremely inconvenient as I am PST. They claim to have extended their hours. I've never been able to get through and the one time that I finally did get through I spoke to someone that said well that's our fees. I was able to submit a form to go ahead and request my money to be rolled over to TIAA. But I guess they issue a check to me. I have not received it as of today it's been 2 weeks going on 3. I can't get through to them. I just don't trust this company. I don't think that it's right for other 401Ks to be transferred over here and not be told from the get-go that there's fees and that you need to make a decision and find a place for your money. Very skeptical of this company and its practices. I want my money and other companies to be aware of these shady practices.