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US Bank / US Bancorp / ira beneficiary not properly notified

1 Columbia City, OR, United States

When my father died, I contacted USBANK in St Helens OR and provided death certificates and other required information. As my father suffered from dementia his record keeping was not the best. USBANK did not inform me of a small IRA acct and it was only later that I became aware of it. When I again contacted USBANK I was informed that they could not give me any information about that IRA because there were no named beneficiaries on it. They told me I would have to see an attorney, file legal paperwork and go through the court system, or I could wait until the funds were submitted to the State of Oregon as unclaimed funds and make application to them to get the money. Because that would take years, I contacted an attorney and began the paperwork. This cost me $975 and took six months to complete. When I got the court documents and went back into the USBANK they gave me some run around, again requested death certificate and other paperwork despite the fact that I had already provided those documents to them. They said they couldn't find them. So I went home, got the documents and took them back to the branch. They said they would process them and send "it up" to be completed. I assumed it was sent to the IRA department elsewhere. However, later that same day the bank called me to say they had found their file with all the required documentation and they would continue the process, that I was actually named as beneficiary on the IRA. They could not and would not discuss why they had told me otherwise and would not address the fact that I had paid $975 to an attorney because of their bad information and lost file.

On Wed, Dec 12, 2018, I called USBANK customer service dept, told them the above information and was transferred, finally, to someone in the IRA department. Her name was Leah or Lea, told me she would complete a complaint document and get back to me. She took my phone and, when I asked, stated that there was no direct phone line to her and that I would not be able to call her. But she assured me she would get back to me after reaching out the St Helens OR branch.

I spent $975 for nothing and would really like to talk to someone about this. I don't rally want to spend another hour on hold by called the customer service department. Why is it so difficult to get someone to pay attention and take this seriously.

Su
Dec 17, 2018

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