ComplaintsforPrime Meridian Funding
Need to file a complaint?
BBB is here to help. We'll guide you through the process.
Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
11/06/2023
- Complaint Type:
- Billing Issues
- Status:
- Unanswered
I currently have a Meridian ********* Account for 1 child, account number is ***********. The approximate balance is $20,000. I have asked Meridian numerous times since 7/12 to perform two simple tasks with my funds; 1) To from a second IDENTICAL ********* Saving account for another child of mine. 2) To transfer a requested amount of funds from existing account to newly formed account. So simple. However, Meridian has made the process very confusing and troublesome. I believe the purpose is to maintain a hold on a customers funds, which allows Meridian to make more money for their corporation. This should be illegal! Numerous Meridian reps have told me to do different things, and advising that prior reps gave me incorrect info. The various forms they have asked me to complete are very lengthy and confusing. Meridian also puts additional burdens on fund transfers to keep hold of you assets, such as requiring requiring all forms to be sent by mail (nothing electronic), and requiring funds to have a "Medallion Signature Guarantee Stamp". I had to take off work and contact my bank numerous time to arrange a special meeting to acquire this Stamp! On 7/12/23 I was advised to complete a Meridian Generic LOI Form, and a Fund Account Application form. I was advised on 7/17/23 that was wrong, and I need instead to complete a ********* Application/Adoption Agreement form (35 pages!!), and a ********* Account Transfer of Assets form. I called again weeks later to confirm with a 3rd rep, that the last 2 forms were the correct ones to complete, so I did. I mailed those to Meridian around 10/10/23, On 10/24 a rep called and advised things were incorrectly, and they would send info, and I would not have to get a stamp. On 11/6/23, I received 23 pages of documents with no instructions on what was done correctly, and what needed to be done. Enclosed was uncompleted original forms I SENT PRIOR and new forms -Certification of Rollover Assets and Withdrawal Authorization Form. ???
*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
Customer Reviews are not used in the calculation of BBB Rating
Customer Complaints Summary
1 total complaints in the last 3 years.
1 complaints closed in the last 12 months.