Top 347 Reviews From Legit Voya Financial Buyers
Voya Financial

Voya Financial Reviews

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About Voya Financial

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Voya Financial is a leading provider of retirement savings, investment and insurance products. The company has over $316 billion in assets under management and serves nearly 15 million customers. While it doesn’t offer checking and savings accounts, Voya Financial provides retirement, investment and insurance products to individuals, businesses and financial professionals nationwide.

Pros & Cons

Pros
  • Over $316 billion in assets under management
  • Helps customers achieve financial wellness and security
  • Offers a cash management account with 2.47% interest
Cons
  • No traditional banking services like checking and savings accounts
  • Fees may apply for some products and services

Featured Reviews

Verified
Middlesex, NJ

I was worried when I had to file a claim with Voya for critical illness having read the reviews on this site as well as the BBB. To my please surprise, I put in my claim on March ...

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Verified
Savannah, GA

I've read majority of the reviews on here and I have not experienced any issues with Voya. I called to request funds and I was told 5 to 7 business days I would receive my check. ...

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What is Voya Financial?

Voya Financial provides retirement, investment and insurance solutions to individuals, businesses and institutions in the U.S. Until 2014, it was known as ING U.S.

Voya Financial has over 7,200 employees and offers a wide range of products and services, including:

  • Retirement plans, such as 401(k)s and individual retirement accounts (IRAs)
  • Investment management for individuals and institutions
  • Insurance products, such as group life insurance and disability insurance

How does Voya Financial work?

Voya Financial does not offer traditional checking and savings accounts. Instead, the company specializes in employee benefits, including retirement, investment and insurance solutions. It also offers self-directed IRAs for individuals.

As a result, Voya Financial may be best suited for individuals and businesses looking to plan for their long-term financial future rather than those needing immediate access to cash or checking account services.

Voya Financial products and services

Voya Financial’s products and services include:

Retirement planning and investment services
Voya provides retirement planning services and products, including 401(k)s and other workplace-sponsored plans, annuities and IRAs. It also offers 529 college savings plans as well as investment management services.
Insurance products
Voya Financial offers a variety of insurance products, including supplemental health insurance, group term and whole life insurance and disability insurance.
Financial planning services
Voya’s financial planning services include retirement planning, investment planning and insurance planning.
Employee benefits
Voya provides employee benefits solutions to businesses of all sizes, including group insurance plans, workplace retirement plans, health account solutions and more.
Cash management accounts
Voya Financial's Insured Bank Deposit Account earns 2.47% interest and is insured by the Federal Deposit Insurance Corporation (FDIC) for up to $2.5 million. It’s the default cash sweep option for anyone who has an investment account through Pershing, LLC, which is the clearing broker-dealer for Voya Financial Advisors.

Voya Financial fees

Voya Financial's fees vary depending on the product or service you choose but may include administration fees, investment management fees and loan application fees.

Voya Financial FAQ

Who owns Voya Financial?

Voya Financial is a publicly traded company, so it’s owned by its shareholders. Its stock is listed on the New York Stock Exchange under the symbol VOYA.

What is Voya Financial's customer service like?

Voya Financial has a team of customer service representatives available to answer your questions and help with your needs. You can reach customer service by phone or email.

Does Voya Financial offer traditional banking services like checking and savings accounts?

No, the company primarily provides workplace benefits, such as retirement plans and group insurance. If you’re an individual, you can open a self-directed IRA or taxable brokerage account through the company.

How do I get started with Voya Financial?

You can open some accounts online, including self-directed IRAs. For other products, contact customer service to speak with an agent or enroll in your company’s benefit plan.

Is Voya Financial legit?

Voya Financial serves nearly 15 million customers and provides employee benefits solutions, life insurance products and retirement accounts to businesses and individuals nationwide. While Voya Financial may be ideal for employees who have access to Voya products through their workplace or individuals looking for an IRA, it’s not a good fit for those who need traditional banking services like checking and savings accounts.

Voya Financial Reviews

ConsumerAffairs has collected 347 reviews and 852 ratings.

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Page 1 Reviews 0 - 10
Process

Reviewed May 20, 2024

Advise to the employer: choose another company, because it makes you look bad. The company is incompetent and has terrible process. It's a shame that the employer would choose to work with this company. The returns on their funds are below market.

Reviewed May 18, 2024

If your company has your 401k through Voya, get out of it as soon as possible, this place has sham written all over it, I have been getting the runaround to get my distribution for at least 2 months.

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    Customer ServiceStaff

    Reviewed April 30, 2024

    They are incompetent at their jobs. Wife called 3 times. Every time they told her she was missing a HIPAA release, she told them what page it was and they would find it. Happened 3 times. They are useless.

    Staff

    Reviewed April 21, 2024

    Do yourself a favor and get an attorney before you retire to move funds. That way you won't be in a hardship. 5 to 7 days is lip service. You will never get a real check on your own. Lost mail. Excuses but tell your employer they are at fault for using Voya

    Customer ServiceStaff

    Reviewed April 18, 2024

    Horrible customer service!!!! I never received my money. They told me to call back in 10 business days and I still never received my money. I called and the customer service rep going to tell me sometimes they carry miss their mail. That doesn’t even make sense. Then when you request to speak to a supervisor they always claim one is not available. They also started taking payments from me. Stay away. Save yourself the headache.

    Reviewed April 17, 2024

    I am a 63 yr old man who requested my retirement money, that I can't seem to get. They say under review for weeks. The company I worked for is out of business. I guess I need to get a lawyer to get my money.

    Customer ServiceCoverageProcess

    Reviewed April 16, 2024

    I went to Patient First and used my card. The copay was covered but the $.52 for the medicine was not. Voya then locked my card so it couldn't be used further future purchases. I called to pay the $.52 and was told they can not do it over the phone. The only way to get the card unlocked is to pay via the website. I started the process to pay this change and now I have to wait even longer (1-3 days) for them to send a small amount to my bank to "verify" my bank account. This is a ridiculous process for $.52!!! People do not feel well when using this card in the first place, and then to put them through this hassle especially over $.52 is beyond ridiculous.

    Online & AppStaff

    Reviewed April 3, 2024

    Voya’s tax advisor made a mistake on my 1099R tax form and refused to correct it. We spent more than one months going back and forth and they don’t let you talk to the tax advisor directly. It’s completely waste of time and their website is a joke. Wish I will never have to do business with this company. I would give zero star if I could.

    StaffProcess

    Reviewed April 3, 2024

    My mother had an account from another company that Voya purchased of merged with and mishandled in account information. She invested via her employer and Voya linked her account with another employer. She received a letter telling her she had to withdraw funds in accordance to IRS guidelines. She attempted to withdraw those funds, she needed the employer to approve the release of funds. Unfortunately, they had the wrong employer on file and they told Voya that Information. We tried for months to get them to communicate with the correct employer and that probably took 2 months. It amazes me that a financial company cannot do their due diligence with investors accounts.

    Once Voya realized it was an error on their part, they handed it off to a local representative to figure it out. The VP for her former employer had to finally get something accomplished. We even tried to submit a copy of her last 2 pay stubs but Voya wouldn’t take them. Most of the representatives were polite but one person was so dismissive it was outraging. How would they like to have to fight to help a parent get their money. You would think that once they acknowledged their mistake, they would expedite the process and be apologetic but no. They couldn’t be bothered to fix the problem and handed it off to a local representative to figure out how to fix it. Shame on Voya. My mother has been retired for a long time now and it was very difficult and hard on her to have to go through this unacceptable incompetence and lack of empathy for helping someone.

    Customer ServiceStaff

    Reviewed March 18, 2024

    I have an FSA through my employer. It is a complex story, but after 3 months and many phone calls and emails these people continue to hold the balance of my FSA money hostage. I submitted every document they requested. I spoke to account rep after account rep and finally had my human resources department get involved. In an email from a Voya rep to HR they blamed my use of their issued debit card for the reason the accounting was not processed correctly by them. How about providing up front, comprehensive information to customers on use? These people were unfriendly, unaccommodating and certainly don't believe in 'the customer is always right'. I only pray my employer does not use them in the new fiscal year.

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    Voya Financial Company Information

    Company Name:
    Voya Financial
    Formerly Named:
    ING Direct
    Website:
    www.voya.com