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Business Profile

Investment Management

Voya Financial Inc.

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Investment Management.

Complaints

This profile includes complaints for Voya Financial Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see

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Voya Financial Inc. has 9 locations, listed below.

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    Customer Complaints Summary

    • 318 total complaints in the last 3 years.
    • 133 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    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.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:10/21/2024

      Type:Product Issues
      Status:
      Answered
      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.
      To Whom It May Concern,I am writing to file a formal complaint against Voya Financial due to delays, misinformation, and poor handling of my recent withdrawal request. On October 7, 2024, I initiated a withdrawal to cover a medical bill, submitting all necessary paperwork. I was told by the representative that the processing time would be 3-5 business days, meaning I should have received my funds by October 15 at the latest.On October 9, I reached out for an update and was informed that there was an issue with the tax portion of my paperwork. I was required to call in on a recorded line to specify my tax withholding preference, which I did promptly on the same day. Following that, on October 11, I was contacted again and told that my supporting documents needed to be resubmitted with clearer details to finalize the approval.Based on the initial information provided by Voya Financial, I made arrangements with the hospital, expecting that the funds would be available by October 15. However, even after submitting the corrected documents and having the transaction approved on October 11, I was later informed that the processing time had changed to 8-10 business days. This was a significant deviation from the 3-5 business days originally stated.On October 17, when I inquired about the status of my funds, the agent confirmed that the withdrawal was approved but still listed as pending. Meanwhile, my funds were not in my account, nor were they present in my Voya retirement account. As a result of this delay and lack of consistent information from Voya Financial, I have now incurred a late fee on my medical bill, significantly increasing my financial burden.I am requesting immediate action to expedite the release of my funds and reimbursement for the late fees that I incurred due to these delays. Additionally, I would like a detailed explanation of why there were discrepancies in processing times and why my funds were not delivered as promised.

      Business Response

      Date: 10/24/2024

      Voya made numerous attempts to contact the customer (10/21/24, 10/22/24 &10/24/24). The customer has been non-responsive. At this time **** is closing this matter.
      Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.

    • Initial Complaint

      Date:10/03/2024

      Type:Service or Repair Issues
      Status:
      Resolved
      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 contacted Voya Financial at the beginning of August 2024 for a withdraw from my account. I was advised the check was mailed 2 years ago to an address I have not lived at in 10 years. My beneficiary form has the correct address. I was informed the check will be reissued and mailed to the correct address with 30 days. Within ****************************************************************** September 2024 I called and was told it takes 20 days to go through some process and would be mailed by September 10, 2024. I called for a third time on October 1, 2024 to be told the check was sent out on August 12, 2024.

      Customer Answer

      Date: 10/03/2024

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.

      Sincerely,

      ******* *******



       

    • Initial Complaint

      Date:09/27/2024

      Type:Product Issues
      Status:
      Answered
      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.
      On 9/16/24, I requested funds from my account. I have not received my funds or been contacted by anyone. I just want them to send MY money

      Business Response

      Date: 09/30/2024

      The customer was provided a response on 09/30/2024.
      Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.

    • Initial Complaint

      Date:09/19/2024

      Type:Order Issues
      Status:
      Answered
      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 had signed up for ************** Indemnity Policy that explicitly states in the policy that room and board charges are required for a stay at a hospital, unless it is a government or military facility in which there would not be room and board charges. I filed a hospital indemnity claim for my child under this policy in which his dad is currently military. The facility his dad took him to was military. When I filed my claim, I did include supporting documentation from the military facility reflecting his stay. My claim was denied and I was told if I appealed it, I need to supply room and board and that a decision would be made in 30 days from receiving my appeal. I responded to the decision with an appeal citing the certificate. I was then sent an acknowledgment letter of from Voya saying they have received my appeal and now it will take 60 days and that I should have sent more documents to them. However, the additional pages to the original document was never mentioned in the denial letter only in the acknowledgment letter. Denial of a claim should reflect a direct response and not changed when an individual appeals based on the reasoning of the denial. In addition, if an individual is advised in writing of 30 days for the appeal with the denial then it shouldnt be changed to 60 days in an acknowledgment letter with added reasons for denial. I did advise the company I will be reporting this to the department of insurance as well.

      Business Response

      Date: 09/27/2024

      The customer was provided a response via phone as well as written correspondence.
      Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.

      Customer Answer

      Date: 10/08/2024

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

      [Your Answer Here]

       Reaching out by phone to say the exact same thing on the letters that were sent which does NOT align with the contractual agreement does NOT mean it has been resolved. I was accused of not being able to read the contractual agreement when in fact, I advised the person who called to not skip parts of the contractual agreement as he was doing on the call. The company should abide by the contractual agreement they created just like the company would like the opposite party to abide by the contractual agreement as well.

       

       

       

      In order for the BBB to appropriately process your response, you MUST answer the question above.


      Sincerely,

      ****** ******




       

      Customer Answer

      Date: 10/11/2024

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

      [Your Answer Here]

      I have not received a letter as of yet. However, it should be known, with the company requesting additional information, its because they should NOT have denied the claim originally without having what they need to make an informed decision. This would allow others to know my experience in hopes they are aware this may happen to their claim as well (when the company will deny a claim then after a BBB is filed, allegedly additional information is now being requested based on companys response). I hope the company treats all insured policy holders with the upmost care when making decisions on claims. Only entering a denial on claims after fully reviewing all information including but not limited to the contractual agreement. This may (no guarantee) help prevent policy holders from seeking out BBB to help facilitate a concerns that may have been prevent if company reviews everything before denying a claim. 

       

       

       

      In order for the BBB to appropriately process your response, you MUST answer the question above.


      Sincerely,

      ****** ******




       

      Business Response

      Date: 10/23/2024

      The letter was sent to her at the address she provided with confirmed delivery on October 17, 2024 ***** Tracking Number *************).  Should she have additional questions or need to update her address she may contact the ***************** at ************ for further assistance. Voya considers this matter closed.

    • Initial Complaint

      Date:09/13/2024

      Type:Billing Issues
      Status:
      Answered
      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.
      At the end of May 2024 I signed paperwork at *************************** to have my voya retirement account transferred to ****** *******.I was told a month later that they were waiting to determine if the signature was read. They did not recognize it.the superintendent of business at ********************************* signature. Fast forward to September 13, 2024 and my money is not earning anything for ME but **** still has not released it to ***************************. My financial advisor at *************************** has calle several times and so have I.Isnt this illegal and unethical?

      Business Response

      Date: 09/16/2024

      The customer was provided a response on 09/16/2024.
      Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.

    • Initial Complaint

      Date:09/06/2024

      Type:Service or Repair Issues
      Status:
      Resolved
      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.
      Laid off from Ex employer ************ Attempting to withdraw 401K due to small amount from Voya Financial. ( average time researched is 2 weeks from redit and various other sources)Withdraw has been pending with the message from 07/25/2024:Your transaction is currently awaiting review by your plan's Third Party Administrator.They can not provide a hard date on when these fund will be released, can not answer what will happen if the third part administrator never responds. Have placed numerous phone calls with no action to date.Response is for me to reach out to Allision ( EX HR) even after they where told she no longer has association with the company. Updated them with a new contact that I was provided by VINO CTO of ex company - *********************** ( New HR).They have told me to contact ******* even after being notified of the HR Change on my end in phone calls after the notification of new HR contact.

      Customer Answer

      Date: 09/13/2024

      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.

      Sincerely,

      ***************************



       

    • Initial Complaint

      Date:09/04/2024

      Type:Service or Repair Issues
      Status:
      Answered
      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.
      On 8/25 I submitted documents relating to an emergency withdrawal request from my retirement plan due to unpaid medical bills from my two disabled children. The agency that provides their therapy sends electronic billing and I have provided this to voya. I have sent every single document related to their services and denial from the insurance and the amounts billed to me. They are refusing to accept the bills the agency sent me and instead want me to tell the agency to create a paper will with a letterhead and change their report format to one that suits them. I have offered to send voya directly the email with link to my billing as well as call the agency on 3 way to validate the billing information and they are refusing. I am filing this complaint as they are intentionally holding back my request that I meet criteria for and being unreasonable and not even offering to call me with an explanation. I have repeated many times the agency does not do paper billing and voya is holding my funds back until i force them to create a billing statement that apeases them. Very wrong

      Business Response

      Date: 09/04/2024

      The customer was provided a response on 09/04/2024.
      Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.

    • Initial Complaint

      Date:08/28/2024

      Type:Service or Repair Issues
      Status:
      Answered
      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 $277 in my commuter benefits account that I paid into as part of my benefits package. (screenshot of my current benefits as listed on ******************************************) This was a voluntary contribution I made so I can use mass transit to commute to work. I have LOST access to this money and **** says I forfeited this amount. I put this money aside to make sure I could get to work and home, even when my bank account is negative. Losing out on close to $300 for commuting really hurt my quality of life because every dollar is accounted for in my expenses. I believe I should still be able to access MY money I put aside for mass transit. Why should I forfeit money for public transportation I still take every day.

      Business Response

      Date: 09/12/2024

      **** made numerous attempts to contact the customer. The customer has been non-responsive. At this time Voya is closing this matter.
      Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.

    • Initial Complaint

      Date:08/27/2024

      Type:Service or Repair Issues
      Status:
      Answered
      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.
      This company withdrew money from my paycheck for a retirement plan that I did not want or desire and now refuses to return that amount.

      Business Response

      Date: 08/29/2024

      The customer was provided a response on 08/29/2024.
      Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.

    • Initial Complaint

      Date:08/26/2024

      Type:Billing Issues
      Status:
      Answered
      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.
      **** is my *** provider. I have been paying money into my *** all year. **** closed my account against my wishes and my *** money stopped appearing in my account. I have spent hours over the last few weeks trying to get this money back. They reopened my account but havent put money into my account from the couple months my account was closed. This means my HSA money was going to VOYA but they havent put that money into my account.

      Business Response

      Date: 09/18/2024

      The customer was provided an update on 09/11/2024.
      Due to customer privacy, the Company is unable to provide a detailed response to the BBB regarding the customers complaint. Thank you.

    Voya Financial Inc. is NOT a BBB Accredited Business.

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