ComplaintsforStockpile Investment, Inc.
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Complaint Details
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Initial Complaint
07/04/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
In 2019, I opened a Stockpile account with an initial deposit of $350. I used this money to buy $350 worth of stock. Later, I opened another account with ******* ****** and stopped actively trading in my Stockpile account after 2020. Recently, I received an email from Stockpile stating that there were insufficient funds in my account to cover a membership charge that I was never informed of. Stockpile then sold some of my stock to cover the fee without my consent.Despite numerous attempts to contact Stockpile via email, phone calls, and even letters sent to their main office, I never received a response. I believe that Stockpile breached its duty of care to me as their client by selling my stock and converting my dividends without my written consent and failing to provide any documentation related to the membership fees. upon my request.As I was going through my monthly statements, I noticed that Stockpile would deduct dividends from my account and would sell my stock to cover the monthly fee for over 2 years. Since I never made another trade with Stockpile or leveraged any of their services. I am demanding my initial investment and all the funds taken out of the account since the effective date of their policy change from a free service to a membership. I was in law school at the time and didn't have the time to check on this until recently. I was under the assumption that my account was a free account throughout the life of the account. I am currently employed with the ********** of ******* in ********** and if I don't get my money back in 14 days, I am going to involve law enforcement and pursue criminal charges. Despite all the cases showing as resolved on the BBB website, simply because they respond by saying a representative is in contact with the complainant, and although I have yet to verbally talk to someone from Stockpile nor have I ever received a response regarding these issues. Today I have been denied access to the account.Business response
07/05/2024
Hi ******,
We apologize for the inconvenience this situation has caused. One of our representatives has reached out to you directly through email to further assist you. If you have any questions or concerns, please respond to the email or reach out to us at **********************************.
Thank you,The Stockpile Team
Initial Complaint
06/20/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
I contacted Stockpile with various emails to close my account on *******. I received an email dated 6/18/24 in attempt to draft monthly fees . I wanted to be done with this whole entire stock pile once the company did monthly fees. However this attempt was made several times to close All accounts all accounts . My account and two sons accounts. Dear *********,We attempted to draw your monthly membership fee on Jun 18.* but there was insufficient cash available in your account. We would like to provide you with a 7-day grace ****** so you can add funds to your account to cover the fee.I emailed back and informed my account was to be closed. Ask in March and I could no lover access my account to enter and close. The stock pile company continued to take money from me , with the inability to complete forms to close the account there fore money received at closure was drafted for monthly fees. **The link they sent , did not work Hi there,Thank you for reaching out to us. I can confirm that you have an active Stockpile account. I have attached a link that will allow you to automatically submit a request to have your account closed. Keep in mind this will close all of your Stockpile accounts associated with your email. Please let me know if you have any issues.********************************************************************************** I dont want any fees drafted and should have received all monies owed in February of 2023. I can not access the account so therefore I can not determine how much I was to receive.Business response
06/20/2024
Hi *********,
We apologize for the inconvenience this has caused. I do see one of our representatives is assisting you with this request. If you have any other questions or concerns, please respond to the open email correspondence or reach out to ***********************************
Thank you,
The Stockpile Team
Customer response
06/21/2024
Complaint: 21876664
I am rejecting this response because:back in February 2023 I attempted to close my stock. The money left was taken and I repeatedly asked to receive a check. Now that I could not enter the account to sell it , which I even asked for a check
per ******* email today
send me a check
Hello *********,
Thank you for reaching out to Stockpile. My name is ******* and I would be happy to help you with your request.
Your account has been locked because you initiated an account closure process. The account for ****** has a cash balance of $4.52 and ********'s account has a cash balance of $3.78
We are unable to close the account until it is empty. You can opt to forfeit the funds, or we can send you a check.
Once the account is empty, we can close it. Please let me know how you would like to proceed.
Best,
*******
Stockpile SupportI responded and said send me a check with the remaining amount.
you will steal the Pennies I have left.
Sincerely,
*****************************Business response
06/21/2024
Hi *********,
We see that the representative you are working with was able to assist you in resolving the issue. If you have any other questions or concerns, please respond to the open email thread you have.
Thank you,The Stockpile Team
Customer response
06/22/2024
Better Business Bureau:
I have reviewed the response made by the business in reference tocomplaint ID ********, and find that this resolution is satisfactory to me.Per bot ******* :
she is going to run me my money and it would behoove stockpile to do such
made email:Hello *********,
No worries at all.
I will reach out once the checks have been initiated. Have a nice day!
Best,
*******
*******
Sincerely,
*****************************Initial Complaint
06/14/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
I started my Stockpile account in 2021 and only been using it back then to buy ~$2,500 stock. The stock was left there as I dont have intention to actively trading them. However yesterday I got an email from Stockpile saying I dont have enough balance to conver the membership charge which I was never aware of until then. Now when I looked back at the monthly statement I saw the company sometimes use the dividend sometimes sell my stock to cover the monthly fee, for 2 years. Given I'm not leveraging any of the advanced service this membership is offering, I'd request to get these money back.Business response
06/14/2024
Hi Kanrong,
We apologize for the inconvenience. Please feel free to reach out to our support team at ********************************** for further assistance.
Thank you,
The Stockpile Team
Initial Complaint
05/29/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
I opened an account MAY 2022. I have never used the account or purchased any stocks, I only placed $50 in it. Two months later, as I am now aware, Stockpile began charging me for a year. I only became aware as I've received am email yesterday that my account was so low, they couldn't charge me anymore.There was no warning and I never agreed for Stockpile to charge me monthly. I'd like a refund.Business response
05/29/2024
Hi Hala,
We apologize for the inconvenience this has caused. I do see one of our representatives is assisting you with this request. If you have any other questions or concerns, please respond to the open email correspondence or reach out to ***********************************
Thank you,
The Stockpile TeamInitial Complaint
05/28/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
I opened my Stockpile account in July 2020 and was disappointed when they decided to have clients use a phone app only. I wanted to assign a beneficiary, and I was directed to go to a link on my phone through the app. It took me to a site that was not a beneficiary form. I was also disappointed to see that they do not give clients monthly reports consistently. I wanted to unlink the bank account with which I opened the Stockpile account, but there is no way to do this on the phone app. I emailed them on Memorial Day 2024, but when I did not receive a response by 3pm the next day, I called them using this number **************. There was only a recording directing callers to the phone app. I used the phone app, which led to communication with a bot called Wisdom from *********. I was directed to use i.vouched.id in a link sent to my email. I opened this email and used my laptop camera to take a picture of my drivers license and to take a selfie. Then I received a message saying, Well take it from here. Your verification was a success and were ready to vouch for you! You can now continue with the sign-up process. I sent a message using the phone app to let them know that I received the aforementioned message, and in addition, I want to withdraw the money from my Stockpile account today. It has been 12 minutes without a reply. After 30 minutes, I sent a message that I need a human to call me. Still nothing. Then, Stockpile timed out the session. I logged back on. I waited another 8 minutes, for a total of one hour without my concerns being addressed. **************** is terrible.Business response
05/29/2024
Hi *******,
We apologize for the inconvenience this has caused. I see one of our representatives assisted you with this request. If you have any other questions or concerns, please respond to the open email correspondence or reach out to ***********************************
Thank you,
The Stockpile TeamInitial Complaint
05/23/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
May 18th - May 23rd (2024)Amount paid (asset value they hold): $600 Account #********* Name: ************ This business committed to providing me a service (via mobile app) to invest in stocks and crypto. I redeemed 3 gift cards gifted to me from family members totaling $600. After much deliberation and several errors including having to "enable crypto" (never heard of this on any other financial services app) and getting several error messages such as "Something went wrong, please try again" (when trying to link bank account) I finally was able to redeem the gift cards after several days which is ridiculous for a mobile app experience.After redeeming the gift cards, I used them to buy crypto (ethereum) and then sold the crypto for United States Dollars in the amount of $600.After trying 3 different bank accounts over the course of a full week, I still haven't been able to withdraw my money. There's no excuse for this. The app gives you a way to add a card, but you can't withdraw funds to the card which is a common option for all other financial apps I've ever used. So what's the point of adding the card to the app?The business has a poor mobile app experience at best and doesn't provide users with other viable options to withdraw money. It was easy for to give them my money, but all of a sudden it's extremely difficult to withdraw my money which is a malpractice and deceitful.The business should either (1) troubleshoot the *** Integration with Plaid (the service they use to allow users to connect bank accounts) or (2) manually allow users to add a bank account using the routing and account numbers of the financial institution (I just solved their business problems in 2 secs).I've went back and forth communicating with this company for a full week trying to access my money and still can't access it. I'm requesting they send my money as soon as possible and reimburse me for wasted time.Business response
05/24/2024
Hi Miles,
We apologize for the inconvenience this has caused. I do see one of our representatives is assisting you with this request. If you have any other questions or concerns, please respond to the open email correspondence or reach out to ***********************************
Thank you,
The Stockpile Team
Initial Complaint
04/24/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
I deposited $200 into Stockpile account in 2016. In 2021 the company stopped service on their website and moved to a app only service. I was unable to access the account using my phone. They then started charging $4.95 month membership charge. I was unaware of these changes. The company has now used all of my investment money to cover its monthly membership fees over the last 24 months. This change was not communicated to me or poorly communicated. My account balance is now $0.00.Business response
04/25/2024
Hi ********,
We apologize for the inconvenience this situation has caused, and we can assure you it was never our intention to catch you off guard with the membership. If you need assistance with your account, please feel free to reach out to our team at **********************************.
Thank you,
The Stockpile Team
Initial Complaint
04/08/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
On April 5th. I requested Stockpile deactivate the chase account as my linked bank account to my ********************** account and to add and to link and activate a debit card in which I gave the information. For some reason I have not received a response and the process has not taken place, please address this situation.Business response
04/08/2024
Hi ******,
We apologize for the inconvenience this has caused. I see one of our representatives has responded and is assisting you with this request. If you have any other questions, feel free to respond to the ongoing email thread or email us at **********************************.
Thank you,
The Stockpile Team
Initial Complaint
03/24/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
On 2/7/2023-2/8/2023 my brokerage account was breached by an unauthorized user. The unknown user proceeded to add a new bank account to my brokerage account and sell all the stocks within my account. Once the trades had settled, all my funds were stolen by this unknown user. $1,500 gone from my account and the only email I ever received from Stockpile was "Trade Confirmation is Available". This is the same notification I have received for years as dividends were reinvested into the handful of stocks I received many years ago. I was finally made aware of this account breach a few weeks ago when I tried to log into my Stockpile account and found my account restricted. I was instructed to contact Stockpile support to gain access to my account. I find it very interesting I was locked out of my own account but nothing was done to prevent and unknown login from happening a year ago. Action was only taken by Stockpile once my account was completely gone. After a few weeks of back and forth with Stockpile it was determined my account was accessed by this unknown user, a new bank account was added, and my account was drained without me receiving a single notification of action on the account. Customer support at ********************** actually blamed me for the breach and suggested it was due to reusing a password. The only resolution they were able to provide was to log me back into my account containing $0. They wiped any history of users or bank accounts from my account so I cannot even track down who did this.Completely unacceptable behavior by a company that markets products to parents and children. My parents set this account up for me 10+ years ago and now it is completely gone with no real resolution. Had I received any notification about a new login, a new bank account being added, shares being sold, or money being transferred out I would have acted immediately. Unfortunately I wasn't given the chance to do even after paying for their lifetime membership.Business response
03/25/2024
Hi ******,
We apologize for the inconvenience this situation has caused. I do see one of our representatives has sent a response regarding our policies. If you have any other questions or concerns, please feel free to respond to the email correspondence or reach out to us at **********************************.
Thank you,
The Stockpile Team
Customer response
03/26/2024
Complaint: 21480499
I am rejecting this response because: As I mentioned in my communications with your representative, I do not find this to be an acceptable nor appropriate response. Simply logging me back into my account with no justification for the lost funds is not satisfactory. Stockpile did not provide adequate protection for my account and as a result I lost all the funds. This account was only worth $1,500. Please make this right and just refund the account value.
Sincerely,
***************************Business response
03/26/2024
Hi ******,
Thank you for your response. We must abide by our policies and procedures that are in place. We apologize for he inconvenience. If you have any other questions or concerns, you can respond to the email thread or reach out to us at **********************************.
Customer response
03/27/2024
Complaint: 21480499
I am rejecting this response because: Your policies and procedures are designed to take advance of retail investors which is completely unacceptable. You charge a monthly/lifetime fee and for what? To take more money from those just starting out in investing? Truly embarrassing from such a big corporation. I still do not accept this resolution and want a refund for the money that was stolen from me.
Sincerely,
***************************Initial Complaint
03/11/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
A few weeks ago- I had no problem logging in to Stockpile Now when I attempt to login in it says I dont have an account. I cannot get a hold of stockpile. There is no phone number. The one email I revived is asking for my name DOB and last 4 digits of SS. This information via email will pretty much get them into any account I have outside of stockpile. They have not responded other than that time and I cant get sc hold off them or my account.Business response
03/11/2024
Hi *******,
Thank you for reaching out to us. I do see one of our representatives has responded and is assisting you with this request. If you have any other questions, feel free to respond to the ongoing email thread or email us at **********************************.
Thank you,
The Stockpile Team
Customer response
03/12/2024
Better Business Bureau:
I have reviewed the response made by the business in reference tocomplaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
*****************************
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Customer Complaints Summary
225 total complaints in the last 3 years.
32 complaints closed in the last 12 months.