Consumer complaint received 2025-01-26 00:00:00
Product: Checking or savings account — Savings account
Issue: Managing an account — Deposits and withdrawals
Company: Lincoln Financial Services
State: AZ

Complaint narrative:
Lincoln Financial has managed my XXXX employer related retirement savings account for over 20 years. In XXXX of XXXX, Lincoln Financial contacted me and requested I close this account as it was very old and they are discontinuing support for it. I completed the required forms XX/XX/XXXXXXXX  and requested the entire balance to be sent to my XXXX XXXX account, which Lincoln Financial agreed to do. 

On XX/XX/XXXX, I observed a " Full Surrender Transaction '' in my online account for the amount of {$83000.00}. Lincoln Financial then closed my account ( so I no longer have access to this account ) and confirmed to me that the check was mailed to XXXX XXXX. The check was returned to Lincoln Financial via USPS mail due to XXXX XXXX just changing their mailing address and it was no longer valid. As a result, Lincoln stated to me they would reissue the check to XXXX XXXX via their new address. 

After waiting over 90-days, the check never arrived at XXXX XXXX XXXX I contacted Lincoln Financial Customer Service on several occasions between XX/XX/XXXXXXXX  and XX/XX/XXXX, requesting the status of the issued check. Customer Service continually stated they would " Elevate this issue to the Leadership Team '' and that I would be contacted within 48 hours. Lincoln Financial has not contacted me, as stated, nor have they kept me informed of my check status, nor reached out to me in any way since closing my account. 

My most recent contacts with " XXXX '' in customer service were phone calls in XX/XX/XXXX. XXXX could not find my account ( as it's been closed ) and asked for my social security number to locate my account. I provided the SS number and XXXX confirmed to me there were several entries made by Lincoln Financial regarding this account. Some entries were a number of " Stop Payment '' entries with no explanation ; Most recently XX/XX/XXXX. I again requested the funds be wired to XXXX XXXX instead of USPS mail. XXXX again said she would elevate this as urgent to her leadership team and that I would be contacted within 48 hours, which to date has still not happened. 

I check my XXXX XXXX account often and as of today, XX/XX/XXXX, no check has been deposited into my XXXX XXXX account and Lincoln Financial has not contacted me as to the status of the check. It has been nearly a year now since I requested the balance of my account be transferred and no progress has been made. Also, no mention of accrued interest Lincoln Financial owes me for holding my money nearly a year. 

I am retired and on a fixed income. I worked over 20 years to save and now Lincoln refuses to provide my funds, refuses to contact me, and holds my funds with no explanation as to why, nor any statements of interest accrual. At this time, I see no alternative other than to take legal action against Lincoln Financial, suing for the balance, interest on that balance, and associated earnings on the fund performance since XX/XX/XXXX, attorney fees, penalties, and pain and suffering.

Company response to consumer: Untimely response