Keep your hands off this company! Making a deposit is quite simple. However, it is impossible to make a straightforward withdrawal. After refusing a straightforward withdrawal, which is a typical request, I don't trust them even though I was fully KYC confirmed. They ask for further personal information and claim it's for my safety and i didn't give to them. They refuse to return my money in a straightforward manner! These are techniques used by the mafia. I filed a few lawsuits, followed some instructions that helped get my money released from captivity.
TA
Tami
Horrible -Ongoing issue
Horrible, horrible, horrible. Law office trying to assist a client with a transfer of deceased spouses account to surviving spouse who is listed as 100% beneficiary on a substantial IRA account and its current RMD. Initially (8 months ago) it took the assistant 3 hours on the phone with them to get information, forms to fill out, and the forms filled out with their assistance. Eight months later, the beneficiary (who has been receiving statements in their name), called in to get the RMD and was told there was no account; even after giving them all the information from statements, initial participant and beneficiary names, SSN, Plan ID etc. Multiple calls with multiple people. Most times when we call they can't find the account at all under either SSN. The beneficiary transfer docs they requested have been mailed to them twice in the past 8 months (because they do not do email or fax). Occasionally when you call for status update, we get someone who can find the account but says they cannot issue the RMD due to an error code. A ticket gets opened to figure it out. After another couple of calls to check on the ticket you get a new individual who is again telling you there is no account, and no ticket, but there is a plan ID and we have to speak with the Plan Administrator to correct missing information (our office also happens to be the Plan Administrator and the information they request cannot be changed on our end). Requests to speak with a manager have been denied. We will coordinate all parties (plan administrator, heir/beneficiary, PR and attorney, etc) and see if we get anywhere or if we get another “ticket” opened that goes nowhere. I am definitely going to move my personal account - which is obviously going to be a painful process, but then I don't have to worry about any further dealings with them. I would rate T Rowe Price as less than zero stars, but this system requires at least one.
KO
Kolby
Holden 1 star experience
I worked with Holden at T. Rowe Price to set up a personal investment account, and the experience was extremely disappointing. The account was not set up correctly due to a lack of proper due diligence, which has now resulted in a mandatory two-week waiting period before I can purchase my intended investments.
This delay was entirely avoidable and unacceptable, especially when dealing with time-sensitive financial decisions. Because of this experience, I no longer feel comfortable using T. Rowe Price and will be taking my business elsewhere. I expected a much higher level of care, accuracy, and follow-through.
NI
Nick
Don't forget any login info....
I called from work to the company, which handles our 401ks, having forgotten my login info etc. I haven't been on the site in 3 years. I wanted to fix my low contribution amount. Anyways, the rep I get asks me for the email. I don't remember. Asks for first car make and year. Give her info i thought it was and no answer. Asks me how much is in my 401k. It's a low amount and I ballpark it since I don't have a check stub on me. She gets an attitude and says "what?" I repeat myself. No answer. This goes on and on. Could've given her my social, birth town, moms maiden name, sent a selfie, ID, whatever. She never answers me on anything and gets more of an attitude. Finally she obviously doesn't believe me and says they will send out a form for me to sign with a notary to get back in my account. What's on this form I got? My name, address and social and a place for the notary to sign. I gave you all that info!!! Who's calling to steal a miniscule amount of money, with their job Info,with all their info minus to few things I couldn't remember putting from 3 years ago. Good thing for this random notary person watching me sign a piece of paper to mail back. Good job. Just let me log in or at the very least update my number. I'll never call them or use their services again. Besides being rude she made me feel like I was a criminal trying to LOG INTO MY OWN ACCOUNT FROM MY JOB.
BM
Brian M.
Use of disreputable 3rd parties
I was attempting to do a withdrawal from my account, In order to receive it via direct deposit, a client must go through Plaid. When I verified my account via Plaid, the confirmation showed a different account number, one that did not belong to me. T Rowe canceled the transaction but basically told me it was not their problem and to contact Plaid. I did not agree to do business with Plaid. I was ddoing business with TRowe Price.
JA
Jayme
If you have a choice do not go with T
If you have a choice do not go with T. Rowe price. I have no choice but to work with them through an employer program and it’s a nightmare. Their system sends out an alert that someone tried to access my account, I call in to find out what the alert is for and they ask if I want to freeze access while they research, I directly ask what it will take to get the account unfrozen and they tell me I’ll regain access following their investigation. Great. What they don’t bother to tell me is that to regain access I have to get a form notarized stating I am who I am and I want my account unlocked and it needs to be sent by certified mail. Oh and the alert? Their “investigation” concluded it was a false alarm generated by their system - no one attempted to access my account.
JH
Julie H.
Incompetent and lacking empathy
If I could give less than 1 star, I absolutely would.
My experience with T. Rowe Price has been nothing short of a nightmare. After my father-in-law passed away, my husband contacted them about his accounts — an IRA and a trading account. When he sent through the death certificate, the representative told us there had been “suspicious activity” and that the Transfer on Death (TOD) designation on the trading account had been changed to a third party shortly before my father-in-law died. The rep said the account would be sent to their fraud department.
We were devastated — believing we would have to go to court to fight for what was rightfully my husband’s. We had to go through probate just to obtain the paperwork T. Rowe Price demanded before they would even disclose who the TOD had been changed to. That meant extra legal fees, unnecessary stress, and months of delay.
Then, after all that chaos, the truth came out: the first rep had made a massive mistake. The trading account had always been in my husband’s name. It was the IRA — with only about $10,000 in it — that had a third-party beneficiary. There was no apology, no accountability, nothing. Just silence and excuses.
But that wasn’t the end. For another six weeks, we were repeatedly told the funds were being transferred “soon.” Every time we called, we got a different story. They never respond to emails — apparently all written communication comes from their so-called “writing department” in the Czech Republic, which means every response is delayed by two to three months.
This entire process has been a cruel exercise in incompetence, miscommunication, and bureaucracy. Do not trust your life savings with T. Rowe Price. If this is how they treat grieving families and long-time clients, I shudder to think how they handle everyday investors.
RH
Richard H.
Do not invest any money with T Rowe Price. They cannot be trusted with it.
T Rowe Price issued my tax form failing to include my SSN. I am unable to process any tax refund without the fully completed form (ie including my SSN). On requesting a corrected form (perhaps 2 minutes of work to add my 9 digit SSN), they refused. Their mistake and refusal to correct it is costing me over $12000. It is totally impossible to speak directly with their tax office who deal with these issues. I have asked on numerous occasions and have been told repeatedly that it is not possible to speak with them directly. As a result I have to deal with customer service, who do not have the authority or competence to resolve the issue, and simply pass messages back on forth. As a result I have formally complained by letter (3 letters), all asking for a written response to explain what is going on. As of today, almost 3 months since the first letter, I have not received any reply.
It is poor that such a large company makes such a fundamental mistake in issuing a tax form, but absolutely disgraceful that they refuse to correct the mistake and avoid all communication. I repeat, their appalling behaviour is costing me over $12000, simply because they will not correct an incomplete form that they issued incorrectly. Stay away from T Rowe Price!