Consumers- please stay way from Merill Lynch if at all possible. There are better options out there with much better customer service. This company has what could be called "customer no service". Experienced some of the worst customer service here than I have in my entire life.
I was consistently lied to about the time frame it would take for me to receive my 401k withdrawal check. I tried to withdrawal from the 401k account as a direct deposit, but the internet page informed me I did not have the correct account to do so, so I opted for getting a check in the mail instead. The only options the Merill Lynch Benefits website gave for sending the check were standard mail (1-5 business days) or overnight, but it did not list a price for either. Since there was no prices listed, I chose standard mail of 1-5 days. I started the withdrawal on Sunday June 2nd. I tried to reach their customer service department (which I thought was open 24/7 based upon info found from the internet), but they were actually closed when I called as it was after 5pm their time. When I called that time, I made it to an automated system which told me the check was issued on June 5th, and to expect the check within 5 days of June 9th. 5 business days was Wednesday, June 12th, and I'm still waiting on the check. Called a customer service representative yesterday to make sure the check was sent out, and I would be receiving it. He told me it takes 7-10 days for the checks to reach me, and suggested I wait a couple more days before calling them back and asking them to put a stop hold on the check. I NEVER NEVER mentioned a stop hold or asked for such. I just want the lies to end, and to have my check in hand. Customer service was a joke.