ComplaintsforFundbox, Inc.

• Initial Complaint

  07/15/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  This complaint is against FUNDBOX *** I recently opened a credit builder account with them and later I received an email after I was approved that they needed my EIN from IRS and my Driver License to confirm my identity and that I had 14 days to submit this to ********************* I did on July 15 sent the documents requested on July 15,2024 the email from funndbox was sent to me on July 11,2024 and I had 14 days to submit this.My complaint is that on same day July 15,2024 I received another email stating they closed my account due to not receiving documents.I just uploaded documents please see same documents sent to company I am requesting funndbox to reopen my account base off documents received and base off this company was so rush to close my account without given me sufficient time to respond.

  

  Business response

  08/01/2024

  Dear ************,
  

  We reviewed the information you provided and the account-opening history in more detail. We can confirm our team reviewed the documents you provided, and along with the status of the security deposit, we are not able to reopen the account. We appreciate your interest and wish you and your business well. 
  

  Fundbox
  

  
  

  Customer response

  08/02/2024

   
  Complaint: 21991812
  
  I am rejecting this response because:

   

  account was closed after documents received found box never gave me up to 14 days to upload documents before account will be closed foundbox just closed the account within a week 

   

  
  

• Initial Complaint

  06/03/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  The business incorrectly imposed penalties on a credit line account and 1.) disabled the credit line and 2.) demands the line is paid in full before any conversation regarding re-enabling the credit line is started.Their support team(s) have avoided and/or failed to address all attempts to resolve the mistake over the course of 3+ weeks.Over the course of those 3+ weeks, multiple members have called to resolve the issue (some weeks daily), and request communication with manager/supervisor staff, including requests to be added to call-back lists. Contact with a manager/supervising staff has not been made to-date.Their support system and staff insufficiently supports the ability to notate ongoing issues or correct issues regarding the credit lines despite this being their business model.Existing public and BBB reviews document a multitude of similar cases suggesting this is a common practice for the business.The business appears to have acted unethically and lacks the sufficient support structure and/or ethical business policy as to appropriately address issues and fulfill their contractual obligation to their customers.

  

  Business response

  06/20/2024

  Dear ******,
  We reviewed your account as part of our investigation of this complaint, and involved the relevant senior managers and executives to reach out directly and discuss the action taken related to the Fundbox account over the past few months. We understand they explained in more detail what contributed to these actions. 

  We have also taken steps to coach other representatives to help improve our customer experience for the future.

  We appreciate your feedback, and if you have any additional questions, please feel free to reach out to *********************************** or to our senior managers who have been in contact with you directly.
  

  Thank you,
  Fundbox
  

  
  

• Initial Complaint

  05/09/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I've been impacted by identity theft. I am aware of unlawful transactions and suspicious activities linked to my identity. I've already reported the incident to the police, but I still need assistance to have this resolved. I would appreciate your help in having these queries deleted from my credit history so that I can get my money refunded and get my record cleared. Please help me out with this. FUNDBOX *** Inquired on Oct 14, 2022

  

  Business response

  05/21/2024

  Dear ******,
  

  We shared your complaint with the relevant teams here at Fundbox, and they will investigate this further. They will contact you directly with more information or updates on the status of the investigation, to help ensure we address the issues noted here.
  

  Thank you for sharing your experience.
  Fundbox
  

  
  

• Initial Complaint

  05/03/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  This company has erroneously placed this account on my personal credit report and this is a business account. For some reason, they have not been able to draw the amount out of my account due to no fault of my own. This is a business account and not a personal account and is affecting my chances of purchasing a home.

  

  Business response

  05/13/2024

  Dear ******,
  We shared your complaint with the team that investigates these questions, and they will communicate with you directly through the email address we have on file with you and your business. Please reach out directly to bureau-*********************************** with any additional details or questions related to the issue you presented in this complaint.

  Thank you,
  Fundbox
  

  
  

  Customer response

  05/13/2024

   
  Complaint: 21663387
  
  I am rejecting this response because:
  
  Sincerely,
  
  *******************************

• Initial Complaint

  05/01/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I am writing to address the distressing discovery that you have been sharing my nonpublic information with credit bureaus, resulting in inaccurate reporting on my credit profile. This violates my privacy rights under 15 USC 1681 section 602 and 15 USC 1681 Section 604 A Section 2, which mandates written consent for such actions.Your inaccurate reporting, including incorrectly labeling timely payments as late, has caused significant financial and emotional distress. I demand immediate corrective action and cessation of unauthorized information sharing. I also seek compensation for damages incurred.Please rectify this matter promptly. My account number is *******

  

  Business response

  05/13/2024

  Dear ******, 
  We previously forwarded your complaint to our internal team that handles credit report disputes (in February 2024). This team reviewed the referenced account history and provided more details directly to you via the email address we have on file. Please share any additional details directly with this team at bureau-*********************************** so we can make updates if they are warranted.

  Thank you,
  Fundbox
  

  
  

• Initial Complaint

  04/23/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  i am not liable for this debt with Fundbox, I do not have a contract with Sequium Assests Solutions LLC, they did not provide me with the original contract as I requested.

  

  Business response

  05/10/2024

  Dear *******,
  We forwarded this complaint detail to our internal team that handles credit report disputes. This team reviewed the referenced account history and provided more details directly to you via the email address we have on file, and to the email address you provided to the Better Business Bureau. 

  For additional questions, or if you have additional new information related to this complaint, please communicate directly with our team at bureau-************************************ Thank you for sharing your experience.
  

  Fundbox
  

  
  

• Initial Complaint

  02/07/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I am writing to express my profound concern about the disclosure of my nonpublic information to credit bureaus and the resulting inaccuracies on my credit report, leading to significant financial and emotional distress.As outlined in 15 USC **** Section 602, I assert my right to financial privacy, expecting the confidential treatment of my information.Moreover, 15 USC **** Section 604(a)(2) underscores that a consumer reporting agency cannot furnish account information without my written instructions, which have not been provided.I have identified discrepancies on my credit report originating from FUNDBOX **** adversely impacting my financial well-being. I urgently request the rectification of these inaccuracies.Lastly, please be reminded of 15 USC 1666(b), preventing creditors from treating payments on a credit card account as late under specific circumstances.For your reference, my account details are as follows:Account Number: *******I request a thorough review of my account, prompt correction of credit report inaccuracies, and strict adherence to federal laws governing my information.Failure to address these concerns may lead to legal action. I anticipate your prompt response and resolution.Thank you for your immediate attention to this matter.***********************************

  

  Business response

  02/13/2024

  Dear ******, 
  We forwarded this complaint detail to our internal team that handles credit report disputes. This team will review the referenced account history and provide more details directly to you via the email address we have on file. Please note you can also communicate directly with this team at ******************************************. 
  

  Thank you for sharing your experience. We will be in touch directly.
  

  Thank you,
  Fundbox
  

  
  

• Initial Complaint

  01/11/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  This company has sold my information to another company without any knowledge or proof .This account is not mines and I ask them numerous times to validate the date and send to me and did not. Under the fair act law the are violating law 15 USC ****.

  

  Business response

  01/28/2024

  Dear ******,
  Thank you for sharing your experience. We identified multiple requests related to this case, and have responded accordingly via Experian. If you have additional information about the details of the account in question and the information furnished on your credit report, please send this information to ******************************************. 
  

  Thank you,
  Fundbox
  

  
  

• Initial Complaint

  11/16/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have had an account with ********************** since February 2021 and have never missed a payment. For the past month they have been telling me that they are having trouble connectong to my bank account using Plaid. They tell me the trouble is between my bank and Plaid and that they are working with them to resolve the issue. I am getting no answers from Fundbox on the ussue but have been ib contact wwith both Plaid and my bank and they are unaware of the issue. I have looked at options with another lender that uses Plaid and they had no problem connecting to my bank. Seems the issue is either with Fundbox or someone is not telling me wht the real issue is.

  

  Business response

  12/04/2023

  Dear ******************,
  Thank you for reaching out with your concerns about your Plaid connection. Our technical support team, with whom youve been in contact, confirmed that they escalated this issue to Plaid as quickly as possible in early September. We learned the financial institution in question may limit the ability to share data for certain bank accounts in certain scenarios. A successful data connection depends on how all of the involved parties (including Fundbox) integrate and communicate with each other (on the technical side); and what may work with one company may not work with another.

  All that said, Fundbox is exploring potential solutions for you and other customers experiencing  a similar issue. As we identify something that will work, we will let you know. Please do not hesitate to continue communicating with us through our normal channels (via our Support team), and we will provide any new updates as they come. 
  

  Thank you,
  Fundbox
  

  
  

• Initial Complaint

  10/16/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  On 10/16/2023 I logged into my Fundbox account to payback a couple of my draws early. Upon logging in it gives me a notice that my ability to draw funds has been paused until further review. It gives not explanation and in fact tells me I will not receive an explanation until 10 days after I pay my account in full. It does give me the option to keep paying my regular payments with no explanation. I have been a client for over 3 years and in that three years I have never missed a payment and have been given several credit increases. When you count on a line of credit to make business decisions, you hope that you are dealing with a company will not make such sweeping decisions. I have always recommended FundBox for my fellow small business owners. It looks like they are changing their business model or using non-financial (ESG) information to make their decisions. Either way, if we can't count one them, perhaps it's time to move on.

  

  Business response

  11/01/2023

  Dear ******************,
  We reviewed your account as part of our investigation of this complaint. It is a *************** practice for creditors to review revolving line of credit accounts on a regular basis, and to take action based on the results of those reviews. This is what happened with your businesss account starting in mid-October 2023, when your account became subject to an additional review once certain conditions were met. As you noted, one of those conditions is to pay down your balance (according to your existing payment schedule, unless you choose to pay early). 
  

  As part of our evaluation of the health of our business customers, Fundbox looks at a number of data points that you made available for our ongoing review. As part of this response, Fundbox prepared a letter explaining the specific reasons for the actions we took related to your companys account with us.
  

  If you have any additional questions, please feel free to reach out to ********************************** or ***********************************.
  

  Thank you,
  Fundbox
  

  
  

*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. ↩