Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:07/22/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I requested distribution of my 403B account on June 16 and it was supposed to be processed in 7 to 10 business days. It is now 23 business days and all I have been getting is the runaround. At least 15 phone calls and numerous emails have been submitted

  

  Business Response

  Date: 07/30/2025

  Dear Ms. *********************** you for reaching out and for sharing your concerns. We apologize for any frustration you may have experienced during your distribution process.
  Please know that PenChecks adheres to strict regulatory and operational standards to ensure the security and accuracy of each participants request. When your election was first reviewed on July 9, 2025, we identified that the payment delivery method was not
  selected. This information is necessary to proceed with your rollover instructions, and unfortunately, its absence delayed the creation of a complete case in our system.
  We appreciate your timely response in providing the required information. Once your updated delivery method was received, we finalized the paperwork and moved forward with processing. Your distribution was completed on July 29, 2025, and mailed via overnight service. The tracking number for your reference is: 744866264180.
  We value your patience and understanding. If you have any further questions or need additional support, please dont hesitate to contact us.
  
  Sincerely,

  PenChecks Trust Company

• Initial Complaint

  Date:07/12/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My claim status hasn't moved from instructions submitted. I have provided all documentation and have called several times. I always get the same answer which is it is pending and you should receive it in 7-10 days. When is the 7-10 days going to get here?

  

  Business Response

  Date: 07/22/2025

  Dear Ms. ************** you for bringing your concerns to our attention. We appreciate the opportunity to clarify the timeline and actions taken regarding your account.
  On April 22, 2025, we received your original instructions.
  Your account was temporarily paused on April 24, 2025, due to the name change request from **** to ****.
  On May 5, 2025, our accounts team created an incomplete AD case and sent you an email requesting the necessary supporting documents.
  On June 27, 2025, we received the uploaded copies of your marriage license and identification card via Salesforce.
  The accounts department began reviewing these documents on July 1, 2025.
  On July 14, 2025, the name change was approved by the accounts division.
  Subsequently, your account was updated, and payment was processed and sent via mail as you requested on July 16, 2025.
  Please know that we take these matters seriously, and while the process may feel tedious, it is designed to prevent errors and ensure your funds are handled with the utmost care. 
  If you have any further questions or concerns in the meantime, please dont hesitate to reach out. We appreciate your understanding and thank you for allowing us the opportunity to assist you.
  Thank you,
  PenChecks

• Initial Complaint

  Date:07/10/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My pension fund was transfer to penchecks trust about six weeks ago and I have filed and completed all required info. To withdraw my funds.I have been experiencing some unnecessary poor service.

  

  Business Response

  Date: 07/14/2025

  Dear ***** Herzellah,

  Thank you for reaching out and sharing your concerns. We sincerely apologize for any frustration youve experienced throughout the process of your distribution.
  Please know that PenChecks operates under strict regulatory guidelines, and in order to protect your account and ensure the accuracy of your request, we require all necessary documentation to be complete before processing can occur. When your election was initially submitted on June 6, 2025, some critical information was missing, including your

  Social Security Number, date of birth, and mailing address. Unfortunately, this delayed the creation of a complete case in our system.

  We received revised forms shortly after; however, they were still missing your street address. Once the full and complete documentation was submitted on July 3, 2025, we were able to proceed, and your request moved forward without further delay. As of today, July 14, 2025, your distribution is in the final stages of processing.

  We truly value your patience and understanding, and our goal remains to provide accurate and timely service to all our participants. Should you have any further questions or require additional assistance, please dont hesitate to contact us.

  Sincerely,

  PenChecks

  
  

• Initial Complaint

  Date:07/09/2025

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been trying to get my *** **** out for months. This is ridiculous. Last month I finally spoke to ***** and I went over veto make sure it's correct on the forms to submit for payment. She told me all the wrong information and said everything is correct when it was not. I called back 20 days later to check on the status to find out I was lied to. A supervisor said he would expedite the process. Never happened. Last week on Wednesday the 4th I find out it is in process never expedited. I talked to ******* who talked to a supervisor and left a voicemail that payment should go out on Monday the 7th. I was happy but today is the 9th there is no payment. I called this morning to find out it was never sent out. Once again lied too. I kept the voicemail for proof. I need this payment for my mortgage. But in the end it's my money and Penchecks is stealing from a US veteran. I want my money.

  

  Business Response

  Date: 07/30/2025

  Dear ****** D *****,
  Thank you for reaching out and sharing your concerns. We sincerely apologize for any frustration youve experienced throughout the process of your election process and claiming your funds.
  Please know that PenChecks operates under strict regulatory guidelines, and in order to protect your account and ensure the accuracy of your request, we require all necessary documentation to be complete before processing can occur. When your election was initially received on April 28th, 2025, some critical information was missing, including your complete form of payment, full amount for withdrawal, along with your full signature. Unfortunately, this delayed the submission and processing of your withdrawal from your NextLevel *** in our system.
  Once the full and complete documentation was submitted on June 30th, 2025, we were able to proceed, and your request moved forward without further delay. Your instructions were submitted on 7/8/2025 and your direct deposit was processed and cleared on 7/18/2025.
  We truly value your patience and understanding, and our goal remains to provide accurate and timely service to all our participants. Should you have any further questions or require additional assistance, please dont hesitate to contact us.
  Sincerely,
  PenChecks

  Customer Answer

  Date: 07/31/2025

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
  
  Regards,
  
  ****** *****
  
   
  

• Initial Complaint

  Date:07/01/2025

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I submitted the form to get my money released to me. I received a call stating they were processing my check. Then I received an email stating they needed more information. I sent the information. Now nobody is answering my calls or emails. The customer service line says closed for two days. I called on Monday 6/30/25 and Tuesday 7/1/25.

  

  Business Response

  Date: 07/03/2025

  Dear Ms. ***************** you for reaching out and expressing your concerns regarding your distribution. I want to take a moment to acknowledge your frustration and also provide clarity on the current status of your request.

  Your distribution was originally received by PenChecks in May 2024 and was established as an Automatic Rollover **** On June 20, 2025, you submitted an election requesting a cash lump sum. During the routine verification process, it was discovered that the last name on file did not match your submitted information.

  To ensure that all distributions are accurately and securely processed, we are required to verify and confirm the account holders identity. While we understand this can be a tedious step, it is in place to safeguard the integrity of your account and ensure proper payment to the rightful owner.

  On July 2, 2025, our team sent you an email requesting additional documentation necessary to correct the name on file. At this time, we are still waiting to receive the required documents. Once we receive your response and the requested documentation, we will be able to move forward with processing your distribution request without further delay.

  We sincerely appreciate your patience and understanding. If you have any questions or need assistance with submitting the requested documents, please dont hesitate to contact ****** here to help.

  Thank you,
  PenChecks

• Initial Complaint

  Date:06/24/2025

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  When I received notice from PenChecks that my previous employer was having them manage our 401k distribution, I saw that name was incorrect. I had recently changed my name after marriage and my old job had closed before that. I sent an email to PenChecks on 4/21 requesting my name be updated and attached a copy of my marriage certificate and ID. No response. Emailed again on 6/4, they responded they responded saying the change was processed. It was NOT, the account still had my name incorrect. I informed them it had not been changed and they asked for the same verifications I already sent them. I resent my ID and marriage certificate and waited. No response. Emailed again on 6/16 asking if there was an issue. And then emailed twice more on 6/17 because they clearly need to be hounded to get a response. I received an email 6/19 saying my case was escalated by a supervisor to expedite it, and they will get to it tomorrow. I checked my account today 6/24 and my account STILL has my name incorrect and to my horror, it now says I have no payments/funds. I had a deadline of 7/11/25 to withdraw the money that was in my 401k, and have been unable to access my money due to this administrative error for months. I am beyond angry at this point and feel they are trying to commit fraud to steal my money. Still waiting for a call back or response to my email today.

  

  Business Response

  Date: 07/03/2025

  Dear Ms. ****************** you for your patience throughout this process. I want to acknowledge your recent concerns and provide clarity regarding your distribution request.
  Your Premier Order distribution with PenChecks was established on April 10, 2025, and we were awaiting your election to proceed. During our review, we identified a discrepancy with your last name on file, which required additional documentation to ensure the distribution is issued accurately and securely. We understand that these additional steps can be frustrating, but they are necessary to protect your account and ensure compliance with our verification standards.

  We received your completed Beneficiary Election forms on July 2, 2025. As of that date, we have submitted a task to our internal distribution team to move forward with entering your election and processing your request as quickly as possible.
  Please know that we take these matters seriously, and while the process may feel tedious, it is designed to prevent errors and ensure your funds are handled with the utmost care. I will continue to monitor your request closely and will follow up with you as soon as I have an update.

  If you have any further questions or concerns in the meantime, please dont hesitate to reach out. We appreciate your understanding and thank you for allowing us the opportunity to assist you.

  Thank you,
  PenChecks

• Initial Complaint

  Date:06/19/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I requested my *** funds payment that ********** was holding to be paid in full and sent certified mail to the address they had on file (*** ). They received and signed for my request by certified mail on 5.7.25. I called on 5.30.25 when I did not receive either the check or communication from them. ***** stated they needed a physical address just for their files, (not originally requested nor communicated thereafter) and would mail check to the *** within two days of my emailing the information. She stated they could send overnight certified to same. I e-mailed the info on 5.30.25. When more thatn two days had passed, on 6.11.25 I had not reeived the check and called again (speaking to an Asil). After a long hold, she stated they could not send overnight certified mail to a ***, as originally contradicted, but with my written request could send regular certified. I sent the email the next day, 6.12.25, retiterating the ***, the certified request, and the cost stated on the form for same. I reminded her I neded the tracking number and that ***** had stated it would be within a couple ******* is now 6.19.25. No check. No tracking information .No communication. This is not resolved as of today. Please assist the company to do their due dilligence. I am best reached by phone or voice mail due to intermittent internet. Email can also follow, but will have a delay.Thank you ****** ****** ************ (** ******)

  

  Business Response

  Date: 06/20/2025

  Hello ******,

  Thank you for reaching out and sharing your concerns. We appreciate your patience as we review your account and the events surrounding your distribution.
  Your Automatic Rollover *** was funded on March 3, 2025, and a notice was sent to you with a 45-day deadline to make an election. We did not receive your election for a cash lump sum until May 15, 2025. Upon receiving your election, we encountered some delays due to the following:

  Initially, a physical address was not on file, which is required for processing.
  You subsequently provided a physical address on June 5, 2025.
  You then elected to receive your funds by overnight ***** delivery to a PO Box address. ***** does not allow overnight shipments to a PO Box, so we requested a physical address for this purpose.
  A valid physical address was received on June 16, 2025, at which point your request was placed in queue for review and processing.
  Please note that once all required information is on file and our standard security measures have been completed, our processing time is 710 business days. Rest assured that we are working to issue your payment as quickly as possible.

  We understand how important this matter is and appreciate your cooperation and patience. If you have any additional questions or if theres anything else we can do to assist you, please do not hesitate to contact us.
  Sincerely,

  PenChecks

• Initial Complaint

  Date:06/06/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  7 to 14 days. That's their standard response. This has been going on now for over a month. We're always 7 to 14 days away from getting the money from them. I've been promised twice that I will have my money within 7 to 14 days. No money. And then in addition when I call today they told me it would be 14 to 21 days before we get the money. Back in April I faxed information to get money transferred. And instead they opened an *** account and put nothing there so then they told me the reason they didn't give the money is because I open an *** account and they thought I was going to put the money there. I did not direct someone to do that. Irrespective of that that was in April on May 22nd I called very tarsely and told them I wanted my money transferred. They told me it would definitely be there within 10 to 14 business days. Today is the 14th day. And guess what, they told me it would be 15 to 21 days before I get my money. So now we've gone from money that I initially requested in April to possible not getting my money until july. Let's understand this is my money but they just tell me they're just too busy to write a check. Too busy. Too busy. We've got over ****** clients and we're just too busy. If someone is too busy they need to hire more people or take less clients. All that said, I highly recommend any business to not do business with this company. I don't care if they are big company when companies get big sometimes they lose touch with ordinary people. That's what happened in this case please don't put your money there. You may never see it again.

  

  Business Response

  Date: 06/19/2025

  Hello ******,

  
  Thank you for your comments. We understand your frustration and sincerely apologize for any inconvenience you've experienced throughout this process.
  At PenChecks, we take the security and accuracy of our distributions very seriously. Each request undergoes an extensive review to ensure funds are disbursed correctly and to the rightful account holder. In your case, there was a need to update your name in our systems, which required additional documentation and verification. We understand this added time to the process and truly appreciate your patience and cooperation during that review.
  I want to assure you that both of your distributions were fully processed on June 12, 2025, and the checks were mailed out that same day.
  Again, we apologize for the delay and any inconvenience it may have caused. If you have any further questions or need assistance with tracking or receiving your checks, please dont hesitate to reach outwe're here to help.
  Kind Regards,

  
  PenChecks

• Initial Complaint

  Date:04/28/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My 401k was transferred from Principal to PenChecks, Originally, they said they didn't have my money but were able to find it. I've been able to get roughly $159,000 transferred from my traditional contributions. The remaining amount $1,141.64 is not being given to me. They say they have technically difficulties with the website sometimes. Today, they told me that Principal gave them my birthday wrong. They said it needs to be ********** but instead it's 07/07/1977. Here's the issue with that: my birthday is **********. I've opened to help desk tickets have not been replied to. The email I received said I'd be contacted within 48 hours but I sent that email on Thursday. I've been trying to get my money since way before Thursday but that was the first time that opened a help desk ticket. PenChecks says that they try to find non-responders and let them know they have money. I don't believe this is the case since I'm actively pursuing my money and it's being kept from me.

  

  Business Response

  Date: 04/30/2025

  Dear Mr. ********************** you for reaching out regarding your retirement account distribution. We appreciate the opportunity to clarify the status of your account and provide an update on the processing timeline.
  PenChecks received your distribution from the ** & ********** 401(k) Plan on March 28, 2025, and an Automatic Rollover *** was established on your behalf. Your account was officially cleared on April 1, 2025, and a notice letter was mailed to you on the same day to inform you of your new account with **********************.
  Your distribution includes two components: a traditional amount and a **** amount. The traditional portion was processed and cleared on April 15, 2025. The **** portion is still pending, as your election for that balance was submitted on April 29, 2025. Please note that distributions take up to 10 business days to finalize from the date an election is received.
  We understand how important timely processing is, and we are working to ensure your **** distribution is completed as soon as possible. We appreciate your patience and understanding during this time.
  If you have any further questions or need assistance, please dont hesitate to contact our *************** team at ************** or *********************************************************
  

  Sincerely,

  PenChecks

• Initial Complaint

  Date:04/09/2025

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I filed instructions to close my account with them since 2/21/2025 and nobody contacts me, everytime I call they say they missed something or did not see I provided the information they requested to close the account and deposit my money. Im tired of nobody closing the account or getting back to me I have emailed 3 times in the past month and called 4 times.

  

  Business Response

  Date: 04/11/2025

  Hello *********,

  Thank you for contacting us, and we appreciate the opportunity to address your concerns.

  As part of our standard security procedures, all participants who submit election from our Missing *********************** are subject to our Customer Identification Program (CIP). Unfortunately, the initial identity verification was not successful, which required additional documentation to proceed. This verification step is a critical part of protecting participants and complying with federal regulations, and the delay was due to the time needed to receive the necessary documents.

  Were pleased to share that all required documentation has since been received, and the order was officially submitted for processing. As of April 8, 2025, the order is under review, and we are moving forward with the next steps.

  We understand how delays can be frustrating and appreciate your patience and cooperation throughout this process. If you have further questions or need additional assistance, please contact our **************** team at **************, Monday through Friday, from 7:00 AM to 5:00 PM PST.

  Sincerely,
  PenChecks