Voya Financial Reviews

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Edited by: Tammy Burns

About Voya Financial

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
  • 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

Helpful Reviews

Middlesex, NJ
Verified purchase
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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Savannah, GA
Verified purchase
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.

Still have questions?

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.

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Voya Financial Reviews

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    How do I know I can trust these reviews about Voya Financial?
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    Page 1 Reviews 0 - 10
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    Customer ServicePunctuality & SpeedStaffBilling

    Reviewed May 12, 2026

    If there was an option for giving no stars, I would not have a problem not giving any stars. I called to schedule a withdraw and spoke to a very knowledgeable representative. Explained to her this was needed on an emergency basis due to issues with my housing situation. She verified my bank account information and submitted the withdraw. I received an email letting me know my withdraw was submitted and to expect it on or before May 13th. I called a week prior to see where if there was a chance I may get it sooner.

    I talked to El and Joe and in my opinion, Voya definitely needs soft skill training. I was told a check had been mailed instead of a bank deposit being done. At no point did I ever request a check to be mailed. I no longer live at the address Voya has which is why I requested a direct deposit. Neither El nor Joe showed any concern for my situation, nor could they explain to me why the website stated I would be getting as direct deposit. They stated they could put a stop payment on the check and then reissue the direct deposit; however, this would take 10 days to process. Again, I explained my situation and of course there was no concern shown by El or Joe and no suggestions for resolution.

    Basically, they gave me the runaround and showed no concern for my situation. I asked to be transferred to a supervisor and of course there wasn’t a supervisor available. I have had other retirement accounts with other companies and Voya is the biggest disappointment of them all. Their lack of a supervisor, soft skills or concern for their customer when Voya caused the error is ridiculous. I do not recommend Voya, if your employer has chosen Voya I would run the other way. No matter how much Voya screws up, they take their share and of course there isn't any errors when it comes to their share.

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    Customer Service

    Reviewed April 24, 2026

    Trying to get my 401k is terrible. Their process is horrible and the worst customer service I’ve ever dealt with.

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      Customer ServiceOnline & App

      Reviewed April 22, 2026

      This company is very bad at running a retirement plan. Customer service is not competent. The website is not functional for any changes by the user, so you have to call someone to edit contributions or investments. Then they do it wrong, it takes a two weeks to a month for it to show up as an error in payroll, then you have to start the troubleshooting process all over again. The inoperable website functions and poor customer service lost me hundreds and eventually thousands in lost contributions, match, and investment growth.

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      Customer ServiceSales & MarketingTimeliness

      Reviewed April 16, 2026

      This company like most 401k companies are robbers and thieves…. as soon as you want to do something with your own money the market drops and they take your money from you. You end up with less than you put in. The scams these people do are next level. I will be reporting them to the Better Business Bureau today. They will say you have this amount 1 day then the next day you have less. What they do at this company is outright criminal.

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      Customer ServiceOnline & AppStaffTransparency

      Reviewed April 9, 2026

      Voya Financial provides the absolute worst customer service and also appear to be completely incompetent. I have been dealing with trying to rollover an old CALPERS 457b account for nearly 2 months. I had to contact them for an update and found out they rejected it without notification back to me nor updating it on the website claiming I was still active at the employer and in CALPERS. CALPERS confirmed they have shown me as INACTIVE for over 13 years. Voya opened a ticket to correct it saying it will be at least 20 more business days to change my status and then I will have to resubmit the rollover request.

      They are essentially holding my money hostage while every other financial institution I have dealt with to rollover various accounts has completed the process in less than 5 days. Don't use Voya if you can avoid it, there are countless better companies that will actually communicate with you in a timely manner and look to help you, not just blow you off.

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      Customer Service

      Reviewed April 1, 2026

      Sloppy with personal information. Terrible customer service. Low return, too many fees, yes I hate Voya.

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      Reviewed March 27, 2026

      Horrible service - they continue to give you timeframes and never deliver.

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      Customer ServicePunctuality & SpeedStaffTransparency

      Reviewed March 27, 2026

      Dear Voya Customer Service Team, I am writing to file a formal complaint regarding the extremely poor service I have received in the process of obtaining the 401(k) funds of my late husband, for which I am the rightful beneficiary. Despite submitting all requested documents multiple times, every time I call your office I am asked for additional paperwork or given new requirements that were never mentioned before. This ongoing pattern of delays, lack of clear communication, and constant obstacles has caused significant emotional and financial stress during an already difficult time.

      It has been more than two weeks, and there has been no meaningful progress on my claim. I am simply asking for the benefits that legally belong to me to be processed in a timely and professional manner. I request immediate clarification on the exact documents needed—without further changes—and a prompt resolution of my claim. If this issue is not resolved quickly, I may be forced to escalate the matter through formal complaints to regulatory agencies. Thank you for your prompt attention to this matter. I expect written confirmation and an update on the status of my claim as soon as possible. Sincerely, Yamile Quintero **.

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      Billing

      Reviewed March 26, 2026

      This is the worst company ever. They make you jump through hoops to get your own money.. I have been trying to get a hardship withdrawal since January 21st and have faced my bills three times yet they always need more information. It's very frustrating and annoying.

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      Customer ServiceStaffLoan Process

      Reviewed March 6, 2026

      Voya Financial has the worst customer care services. I called to pay off my 401 (k) loan, but they hung up on me twice. Hanging up on customers is rude and a sign of a lack of emotional maturity. Voya needs to hire people with good customer service skills. Thank God I was able to pay off my loan and don't have to deal with rude customer care services.

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      Voya Financial Company Information

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