Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. 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.

• Initial Complaint

  Date:03/01/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have a substantial amount deposited with Savebetter. Today I cannot get into my account, their website will not generate the *** text code for verification. Their phone service is a useless series of automated messages. Despite multiple emails, no response. This company needs to be investigated, they are essentially holding my money and I cannot access my account.

  Business Response

  Date: 03/11/2023

  Our customer called and spoke with a member of the **************** team on the afternoon of March 1, 2023.  At his request, a full withdrawal of his savings balance was returned to the bank account he has linked with SaveBetter.  He no longer has an active balance with us and we consider this matter resolved.

• Initial Complaint

  Date:02/27/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I opened an account online with mph.bank in April of 2022 through their custodian bank which is savebetter bank. I added an additonal amount on 10/4/22 and my total balance is now $60,000.00 For the past week I have been trying to access this account as I need to make some withdrawals and realize I was never given a routing number nor a bank account number and the only thing I have is an Account ID Number and a ********************** Customer ID Number. I have spent several phone calls to mph.bank and they refer me to call savebetter.bank because mph states they have no information on me after giving them my social security number, When I call savebetter they tell me to call mph. bank and one number that they give you can punch several extensions, but they all seem to return you right back to the original greeting asking you to pick an extension.Now, I received a **** from a ************* custodial bank and find they are the custodians for Save Better but they have no information to give me. Their main phone number tells you to send an email and they will get back to you and of course these never get answered. I've been scammed before and you would think a person would learn to be more cautious but evidently I'm a slow learner. I want my money ASAP . Please Help Me! I'm sorry that I cannot upload documents as I am typing this from my desktop . Maybe I can take some photos on cell and get them downloaded to desktop and see Oh and when I downloaded their App to my cell it would not accept my password, nor would the site allow me to change password to get in touch with them with my cell.

  Business Response

  Date: 03/11/2023

  Our customer reached out to us so we could help her change the bank account she has linked with SaveBetter to make a withdrawal.  Once her initial withdrawal resulted in a credit return, we worked with her to validate her new account, update it on our systems, and initiate a new credit which she has since received.

• Initial Complaint

  Date:02/21/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  This complaint is with regards to my No penalty Certificate of deposit with Savebetter (Raisin LLC) . I have had multiple CDs with them in the past and their policy is to call them to close the CD and funds are transferred by ACH in ************** days (including the day of closure if you call before 2pm EST). As per their own policy on 01/30/2023 i had called SaveBetter customer service and requested my last no penalty CD be closed immediately and money transferred to source account. After the call i noted that my account was updated and it clearly showed the funds would be settled in destination bank by 02/01/2023 from where i was supposed to transfer to my my brokerage money market fund. However the funds never arrived . I called the bank and escalated but they did nothing about it apart form asking me to wait while they look into the matter. After they corrected the issue the funds arrived on 02/03/2023 which was Friday evening so i wasnt able to transfer my funds out till Monday 02/06/2023 instead of Wednesday 02/01/2023. In my initial complaint i had informed Savebetter that they would be responsible for any loss of interest/fees on account. After i contacted them they promised to reimburse (proof attached in email) interest loss as a result of the timing of this transaction and asked for me to document the interest loss On the same day 02/06/2023 i sent them the details of money lost because of transaction error and delay caused on their side . Since then they have been giving me the run around and have not reimbursed the lost interest of 127.54$Apart from interest loss they wasted hours of my time contacting them for this error and documenting the issue and they still continue to give me the run around for their own mistake. everything is documented and attached as proof with this complaint.

  Business Response

  Date: 03/05/2023

  The customer's request for a CD cancellation was entered on our systems on the same day we received the request.  The cancellation was processed within the timeframe stated by our terms of service.  The funds earned interest through the date of the requested cancellation just as the do for all our other consumers.  There was no lapse in accrued or earned interest.
  

  Customer Answer

  Date: 03/07/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  The business has made generic statements without answering the specific issue in the complaint although clear proof has been provided on their lapse of transfer of CD funds to external source in timely manner . I have closed multiple CDs before and each and every one used *** transfers  by regulation its 3 business days however in this case it had taken them 5 business days and and only after i reported the issue to them. My complaint clearly details the lapse by the  business and their own admission in to provide documentation of lost interest (why would they ask me this if there was no lapse on their part) . The business needs to clearly explain why the *** transfer took 5 business days v/s 3 business days in the middle of the week causing cancellation of my future transaction. Providing generic two line response does not address the complaint and their failure to meet the *** transfer obligations and causing the customer to loose 4 days of interest on 250K of funds

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  *******************
  
  
  
  
   
  

  Business Response

  Date: 03/11/2023

  We cannot confirm when the customer made their request to cancel this CD.  We apologize if there was any delay between the request and it's processing.
  

  Our customer earned interest through February 1 and was paid in-full by February 3rd.  All posted and accrued interest at the agreed-upon rate was paid out to the customer's linked bank account.

  Naturally, not every system or record is perfect.  It is for this reason that we asked the customer if he had proof or some calculation to substantiate a loss of interest income.  We would be happy to revisit this matter if he believes he was not paid all of the interest he earned from his CD.

• Initial Complaint

  Date:02/14/2023

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On 2/4/23, I opened up joint savings account online with ************** and initiated a 50K transfer from my Chase checking account to my new ************** account. On Monday morning 2/6/23, I called ************** at the telephone number listed for consumers because I had a few additional questions. None came to the phone and all I heard was music for hours. I began to get nervous and went online to cancel my online bank transfer, as well as my account because I did not want to deal with a company that gives consumers a telephone number to contact for assistance but then there is none to assist. In addition, when I went online and logged into my ************** account, there was no option online to cancel my transfer or my account. I immediately emailed ************** at ********************************** requesting that they immediately cancel my bank transfer and account because of the reasons stated above. All I received was an automatic email response stating that they are experiencing an extremely high volume of requests and they will make every attempt to get back to me as soon as possible. At that point, I felt as though this company was a scam and my 50K was at risk of being lost. I immediately emptied and closed my Chase checking account so that Bettersavings.com could not proceed with the 50K transfer. The only correspondence I have received to date from them has been generic emails advertising that their savings rate is going up and that if I want to add a deposit, I should log onto my account and make a deposit. They never responded to my initial 2/6/23 email request to stop my transfer and close my account. At this point, all I want is a confirmation and proof that my account has been closed and I would like other consumers to have this information so that none has to go through the experience that I went through with this company. I just don't understand how a company like this is allowed to stay in business. I look forward to your response

  Business Response

  Date: 02/17/2023

  ************ did initiate a deposit and asked us to cancel it as he describes.  A member of the team did attempt to call him on the morning of February 6th but the call went unanswered. We were unable to process the cancellation of his transaction in enough time to prevent a debit from his personal bank account.

  **************** initial deposit resulted in an *** *** Return (Closed Account) so his savings account was never opened.  We have deactivated his SaveBetter login access and both he and his wife's data will be deleted as soon as allowed by law.

  Customer Answer

  Date: 02/22/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved. 

  However their statement that they called me back the morning of 2/6/23 is not true.  If it were, you would think that the person who called would have left me a voicemail message telling me they tried to contact me leaving me a direct number for me to return their call.  The only reposnse which I received is the attached correspondece which were auotomatic generic email reponses which did not address my request or concerns.  I find it unacceptable for a company to leave a message on their *********************************************************************************** any other matter to call them at their **************** telephone number and then when you call for that assistancee, you only hear music for hours and hours, without anyone from the company ever picking up the the call.  It's also unacceptable for ************** to defend their position, as opposed to taking ownersship for their poor nonexistent customer service when a consumer establishes an account.  Thank god I closed my bank account prior to ************** debiting my bank account or else I would have been in the same position as all the other customers who have made complaints against ************** regarding deposits they made which they were unable to get back until they filed acomplaint withe the BBB.  I would stay far away from this comapany and deal only with reputable banks who have people you can speak with when you call.         
  
  Sincerely,
  
  ***********************
  
  
  
   
  

  
  

• Initial Complaint

  Date:02/09/2023

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Non existent customer service and did not trust them with my money. Their services went down for an extended period of time where I could not access my funds. They promised a customer supervisor return of a phone call which never happened. Their terms are deceptive. Their online customer service gas light their customers and ignore the concerns.

  Business Response

  Date: 02/17/2023

  It is unfortunate that this customer did not trust ** or the bank with whom his funds were placed with his money.  We have many happy customers with our service and the rates offered by our partners.
  
  The downtime mentioned by the customer was announced weeks in advance.  Had the customer contacted us during those days we could have recorded any transaction request he had in mind and processed it once the site was back in service.
  
  A supervisor did review his request and provided a written response.  The response included a copy of the attached terms, the form of which are used by all of our institutional partners who would agree that they are not deceptive.
  

• Initial Complaint

  Date:02/09/2023

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I opened my account using SaveBetter Raisin yesterday. Immediately I called them to ask something but they never picked the phone up. RED FLAG! I alreaDy deposited $1,000.oo into this and just now I tried to withdraw what I deposited and close this account but it did not let **** need to close this account and get my money back.THEY ARE NOTHING BUT A SCHEMER!

  Business Response

  Date: 02/17/2023

  ******************** did make a deposit into a savings account.  We cannot confirm if or when she called us.  She did email us asking to cancel the deposit but by the time the email was sent (late afternoon EST on February 6th) it was too late for us to cancel the debit from her bank account.  We responded to ******************** on the morning of February 7th to let her know we could not cancel her deposit and that she could withdraw her deposit once it cleared.

  ******************** made a withdrawal request on February 9th and was returned to her linked bank account within 2 business days.  At her request, her account was closed.

  All of these transactions met SaveBetters Terms of Service. We are sorry ******************** was unhappy with our offering and hope she reconsiders using us in the future. 

  Customer Answer

  Date: 02/21/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  ****************************************************
  
  
  
   
  
  

• Initial Complaint

  Date:02/08/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  01/27/23 $185,615 I was trying to obtain 5% CD with ****** *** via their website. I was under impression I have a business directly with the bank and provided all my personal data and bank account. When I found out I attempted to cancel the transaction by calling savebetter customer service. They said my bank can stop it. I called my bank, they put the Stop payment - transaction was pending. Savebetter website constantly on maintenance, it is not possible to get anyone on the phone. I am in distress, worrying about my money day and night. I sent request for the cancellation of my CD as the last hope to return it. I feel it is a scam and I will loose my money either way. They have a clause with 6 month early withdrawal penalty. It is a hefty amount on $185,615. I just don't know what else to do. Please help!

  Business Response

  Date: 02/16/2023

  **************** made her initial deposit through the SaveBetter savings marketplace on January 27th of this year as she described.  Before she could link her personal bank account to our marketplace or initiate a deposit, **************** had to scroll through and accept our Terms of Service (attached).  These terms of service state that the customers funds are held at the bank or credit union she selects by our custodian bank for the benefit of all SaveBetter customers.
  
  When she realized the content of the terms to which she had agreed, she contacted Customer Service.  Since her personal bank account had already been debited for this CD purchase and **************** does not wish to pay the $4,529.01 fee for early cancellation of the CD she selected, we suggested that she reach out to her bank to request a stop payment of the debit.  During a 3-way call with her bank which followed, they said they would try.
  
  Her bank failed to deliver on what should have been a routine exercise through the *** network.

  We can cancel **************** CD at any time if she agrees to the early cancellation penalty shown on the product information sheet we include with all savings options. 

   We are also happy to help her continue to benefit from the high rate (which has since been lowered ****% for new customers) if she would like to keep saving through SaveBetter.  ****************' deposit is held by ****** *** Bank and fully insured by their FDIC insurance.

  Customer Answer

  Date: 02/27/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  I do not wish to pay the $4,529.01 fee for early cancellation of the CD. SaveBetter has not provided the timely service with stopping money transfer transaction assistance. I have doubts they are capable to provide a good service further and even more doubts they are serious financial company. No live persons answering the phone calls, but voicemails. Phone calls are hung up without answering. I NEVER called out money from CDs with banks before and not doing it because of the terms. I want to deal directly with the bank. Waiting for 27 months in a fear that my money are in jeopardy is unbearable. I already lost one month of interest while fighting this. Please return ALL of my money.  

  Please let me know if you need any more details.

  
  Sincerely,
  
  *****************************
  
  
  
  
   
  

  Business Response

  Date: 03/11/2023

  We stand by our original response.  The customer agreed to our terms of service and the terms of the CD she purchased when she enrolled in our service. 

  She can either hold it to maturity or pay the early withdrawal penalty.  We have met and will continue to meet our obligations as articulated in our terms and we will hold our partner accountable to the terms in the Product Information sheet related to her CD.

  Customer Answer

  Date: 03/16/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  The company has not returned my funds although was given proper request to stop debiting transaction from my bank and now to cancel the CD I have to pay early termination fees for 6 months.

    In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ****************
  
  
  
  
   
  

• Initial Complaint

  Date:01/31/2023

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Have a savings account with **************. Have been trying to withdraw our significant funds without success. They have been on site "maintenance" for over 5 days which is very suspicious. I believe they are a scam site. I have reported to the *** as well as FDIC.

  Customer Answer

  Date: 01/31/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  *********************************
  
  
  
   
  
  

• Initial Complaint

  Date:01/31/2023

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  This service offers access to much higher savings accounts.... I am reading too many reviews etc of people no longer able to get their money and losing access to their money. Also... this service indicated it was going down for "scheduled maintenance" and that the site would be back up today January 30th.... Today we recieved an email that indicates maintenance is over... and that now we can fully do everything..... but.. ok....the site is back up.. but is absolutely NOT functioning... nobody can withdrawal or deposit.... this does not look good at all folks...I have not seen a site especially not a banking type site that had maintenance that took the site down for 4 full days.... This needs to be investigated before this goes too much further please...

  Business Response

  Date: 02/09/2023

  As he stated, the customer was unable to make a withdrawal through our website during a period of maintenance on the SaveBetter website. The maintenance that restricted the customer's access was advertised weeks in advance both on-site and via email.

  The customer has since made full withdrawals of all active deposits.  Follow up calls to the customer to assure their satisfaction have gone unanswered.

  Customer Answer

  Date: 02/16/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [Your Answer Here]

   This business is very carefully NOT telling the whole truth....Yes as  I stated and as they stated they announced that scheduled maintenance. HOWEVER, when that 3 days of scheduled maintenance was complete... they sent us an email telling us everything was fully operational again.... and it was absolutely NOT..... and only after they started recieving some pretty rough complaints... and a day and HALF later... did they FINALLY get it working correctly again... My complaint was to make you aware that this does not look very good at all... for a company that is handling THIS Much money... in a "custodial account" for other people. Since then... when they FINALLY got it working correctly again.. then YES I did in fact withdrawal almost all of my money....I do not find this business trustworthy. Sorry but that is What I see and how I feel....

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  *******************
  
  
  
  
   
  

  Business Response

  Date: 02/17/2023

  **************** is correct. We did email customers prematurely.  Although testing had been performed on the site, it did not account for certain scenarios or the impact of the full volume of our customers using it.

  Customers returning to the site did not have a positive experience until additional updates could be completed.

  We have learned from this mistake and are committed to not repeating it.

• Initial Complaint

  Date:01/26/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Opened a no penalty CD with Save Better. Tried to close it and was asked to send an email and would receive a response in 24 hrs with instructions. Called them as no response after 24 hrs. Waited on the line for 2 hrs and then got disconnected. Sent an email reminder asking for support on Jan 24 and again on Jan 25. Called multiple times but always on hold and no response. Do not know how to get my money back from them

  Business Response

  Date: 02/06/2023

  *** *********** CD cancellation was processed in-full and without fees or penalties on January, 26th 2023 and paid to his external bank account two days later.
  
  I examined our CRM system and saw that the first request we received in-writing for this cancellation was received in the late afternoon of January 25th.
  
  This was relayed to him during a phone conversation with one of our Associates on the morning of January 26th.  He was surprised to hear that his prior emailed cancellation requests had not been received by the team.

  With all of *** *********** funds returned as hed requested, we hope this brings the matter to a close.