Comment Rollover checks. (Score 1) 180
My former employer's 401(k) custodian won't do an EFT for rolling over my 401(k). The ONLY option is a snail mail check sent through untracked first class mail. It's like they WANT you to lose your money. Imagine getting what most people would consider a large fortune of money in your unlocked mailbox that anyone can take out and doesn't have to be signed for on delivery.
There's already a case where someone doing a rollover lost their funds because of washing of an intercepted rollover check and the last I heard, he's basically SOL over six figures.
My HSA administrator is the same way; they have all sorts of options for doing EFTs for regular contributions but rollovers MUST be sent via paper check.
The only way this is going to be solved is if the financial institutions involved are held liable for losses or are forced to change by law or regulation. So far it doesn't appear either are happening, so you have to play Russian roulette every time you do routine financial transactions.