I moved to a different company and decided to just cash out my 401K (it was less than $300). I decided to go with a direct deposit. Unfortunately, I was in a rush and I switched the last two numbers of my bank account. Honest mistake. I reached out to Principal to let them know what happened to get it fixed. At first they refused to help me. It was been seven business since my request. They have a 5 business day policy where after the 5th business day, they can’t reverse the deposit. I had the call EIGHT times to get a representative that would help me and I’m still not guaranteed to get my money. What they don’t know is that I was planning to open a Roth IRA with my nest egg that I have built and I’m researching companies. Principal will not have my business after this.
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