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ComplaintsforGrasshopper Bank
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Complaint Details
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Initial Complaint
07/12/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Unanswered
Grasshopper bank was a nightmare to deal with. I started my startup and found them and trusted them to be my primary business account. On receiving 100k investment from my first investor and transferring it in they noticed it was coming from a crypto exchange, and froze my account, froze my outgoing transfers, and when I called, the staff claimed to have no idea what was going on, saying only "its probably because its crypto". In the end after holding my funds hostage for 6 days with only cryptic email explanations that did not make sense, and reference to "rules" which were directly contradicticted by the terms of service they were sending, they told me I am not the right kind of customer and closed the account. I was patient and reasonable explaining that my investor and the business and the funds were all legit and could be accounted for, and that I would honor any boundaries that they have, and they implied that because my investor paid in crypto, then this money was somehow "dirty" and that they would not allow it in the bank. When I asked for clarification they sent some rules on crypto that said nothing about this new "rule". So why am I not an ideal account?They claim in their market to be working for the innovation economy, and specializing in small businesses "The best digital checking account for small businesses."As far as I can tell, they are literally so upset that someone used crypto that they are banning me from the bank for thinking that I can consider my investors crypto as a valid asset. I trusted them with the inner workings of my business and with my first 20k of investment, and trusted them to communicate clearly if there was an issue, and to show up to fulfill the promise they claim to offer. And that has been the 2nd biggest mistake since starting my business.
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Customer Complaints Summary
4 total complaints in the last 3 years.
3 complaints closed in the last 12 months.