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  • Report:  #539411

Complaint Review: Canopy Financial

Canopy Financial Wellfund Freezes HSA Depositors Accounts Chicago, Illinois

  • Reported By:
    Hutch — Jensen Beach Florida United States of America
  • Submitted:
    Tue, December 15, 2009
  • Updated:
    Tue, December 15, 2009

My Wellfund HSA account administered by Canopy Financial totals $10,888, now frozen and the Company Filed Chapter 11.  No doubt, I've been ripped off Bernie Madoff style.  I would think the present administration, so concerned about health care, would correct an action like this as a basic step to secure health care.  

In late September, I exchanged email communications with the company concerning the safety of these accounts.  The emails (with addresses removed) are included below for the benefit of us all: 

RE: Fund Insurance
Fri, September 25, 2009 10:21:33 AM
From:       Canopy Financial
To: Me


Good Morning,

Yes the funds are FDIC insured, they are insured under Amcore Bank.  I hope this information is helpful. If you have any additional questions please feel free to contact me. Have a great day.

 

Thank you

WellFund

HSA Customer Care

 

From:  Me
Sent: Sunday, September 20, 2009 12:10 PM
To: Wellfund HSA Support
Subject: Fund Insurance

 

Hello, I have had an account with Wellfund since the funds inception.  Due to the financial situation with banks, etc., I need to know if the funds held in this account are FDIC insured.  If not, please advise which financial institution holds the fund's assests so their finacial health can be verified.

 

Very satisfied with your account service to date, but must be certain about the safety of this investment. 

 

Thank You

 

 

  

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