ComplaintsforYieldStreet Inc.
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
03/26/2024
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Resolved
I've been a Yieldstreet *** investor since June 2021 in the "Alternative ***ome Fund" and have received quarterly dividends since this time without issue, until recently. The last two quarters I've had to reach out to a Yieldstreet customer representative in order to receive my dividend payment. In December 2023, the issue was resolved in a few business days. ***onvenient and unprofessional but it was the first time this issue occurred and the money was soon in my account. Fast forward to March 12, 2024. I was supposed to receive a dividend payment that I've yet to receive. I initially contacted Yieldstreet on March 19, 2024 to ask where the dividend payment was and was told by the Yieldstreet customer representative that the payment was "pending." I emailed Yieldstreet again on March 21, 2024 and informed them it shouldn't take this long for a pending payment to post to my account. On March 22, 2024 I was thanked for pointing this issue out (which it's not my job to do in the first place) and was then told the issue would be looked into and the representative would get back with me. It's Monday evening on 3/25/24 and I haven't had a reply. I've had many dividends paid from various financial institutions and I can't remember any of them offering me problems like Yieldstreet. I hope it goes without saying that a business that touts it's offerings for their returns/dividends and cannot deliver them on time...that's a problem and big red flag. Time is money and I've lost 13 days of not having the agreed to dividend with no payment or time-cost in sight. This is not what a legitimate business does.Customer response
04/20/2024
Better Business Bureau:
At this time, I have not been contacted by YieldStreet Inc. regarding complaint ID ********. To be clear, the dividend in question, that I originally wrote a complaint regarding, was paid on 3/27/24. However, an explanation as to why the dividend took more than two weeks longer to be paid was never given to me. A dividend eventually showed ** in my account with no communication from YieldStreet.
Sincerely,
***************************Business response
07/10/2024
Thank you for reaching out regarding the delayed dividend payments for your investment in the ************************
We have noted your feedback about the issue you experienced with your quarterly dividend payments. Please be assured that we take these concerns seriously and are working to address them. We understand the importance of timely payments and are committed to resolving this matter promptly.
If you have any further questions or concerns, please don't hesitate to reach out to our Investor Relations team.Customer response
07/12/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and while I do not find the response entirely satisfactory, I have seen changes made to the payments process and will give the business the benefit of the doubt for the time being.
Sincerely,
***************************
Initial Complaint
02/22/2024
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Resolved
I completed a promotional bonus offer through Yieldstreet in December of 2023 that promised a $400 reward for signing up for an account and completing accreditation. The offer was advertised on ***********. I completed all requirements for the offer, as confirmed by Yieldstreet. ******* is refusing to pay me the bonus amount that I have earned because Yieldstreet has not confirmed my eligibility with them.Customer response
03/18/2024
Better Business Bureau:
At this time, my complaint, ID ******** regarding YieldStreet Inc. has been resolved. Rakuten customer service was able to apply the full amount of the originally offered bonus to my account. Thank you for your help.(By clicking "OK", your complaint will be closed as Resolved.)
Sincerely,
*********************************Initial Complaint
01/04/2024
- Complaint Type:
- Order Issues
- Status:
- Resolved
For the ********** of Soho Commercial Property Debt, the original maturity date is December 30, 2023. Although there is a 6-month extension option, I have never given any consent to the 6-month extension. Yieldstreet illegally extends the ********** contract unilaterally for another 6 months.Customer response
01/04/2024
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
06/26/2023
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I first invested the Yieldstreet ********** more than 5 years ago. At the time, my investment had an expiration date and it was expected that my capital would be returned on that date. (now several years ago) Around the date of redemption the company said they were rolling the capital over into a fund that would hold the capital in perpetuity. The fund was and is doing fine with no loss of principle, I believe. My money however appears to be locked up forever. In addition, there is no one at the company who responds to phone calls or emails, only a computer bot. I am concerned that Yieldstreet is a scam and I do not know if they report their activities to the SEC. All I know is that my capital is still presumably there, but I cannot get it.Business response
10/17/2023
Hi ****,
The Yieldstreet Prism Fund offers quarterly tender offers for investors to liquidate all or a portion of their position in the Fund.
When a tender offer goes live, you can submit a repurchase request for either a portion or your entire position to be repurchased at the stated NAV of the tender offer. If the number of shares submitted for repurchase by investors exceeds the number of shares we seek to repurchase, shares will be repurchased on a pro-rata basis, and not on a first-come, first-served basis.
Our most recent tender offer ran from 9/1/23 to 10/2/23, so unfortunately we are not able to include you in the most recent tender offer, however, we conduct these tender offers each quarter. Please look out in your email or Yieldstreet account for a notice when the Q4 tender offer goes live and submit your request for share repurchase.
If you have any further questions, please don't hesitate to reach out to *************************** for further assistance. Thanks for being an investor with Yieldstreet.
Business response
10/17/2023
Hi ****,
The Yieldstreet Prism Fund offers quarterly tender offers for investors to liquidate all or a portion of their position in the Fund.
When a tender offer goes live, you can submit a repurchase request for either a portion or your entire position to be repurchased at the stated NAV of the tender offer. If the number of shares submitted for repurchase by investors exceeds the number of shares we seek to repurchase, shares will be repurchased on a pro-rata basis, and not on a first-come, first-served basis.
Our most recent tender offer ran from 9/1/23 to 10/2/23, so unfortunately we are not able to include you in the most recent tender offer, however, we conduct these tender offers each quarter. Please look out in your email or Yieldstreet account for a notice when the Q4 tender offer goes live and submit your request for share repurchase.
If you have any further questions, please don't hesitate to reach out to *************************** for further assistance. Thanks for being an investor with Yieldstreet.
Initial Complaint
07/27/2022
- Complaint Type:
- Product Issues
- Status:
- Answered
They had a referral program going late 2021 into 2022. I have referrals varying from November to March that I was never paid for. They continued to let me refer, when they had no intention of paying. I have tried emailing on multiple occasions and have never received a single response. I noticed they recently changed the terms but my referrals were before the new terms were published.Business response
09/13/2022
We would like to apologize for the experience you had with the past refer-a-friend promotion. Per the Terms and Conditions, we reserved the right to determine if cash incentives are not warranted. Additionally, we reserved the right to limit payouts to only qualified referred members. We understand the program caused confusion and frustration and we will seek to improve the process for any future program.Initial Complaint
03/31/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
i have an *** account with yieldstreet. i have had no issues with them until now. due to some technological problem my account is locked and i cant get access to it. they keep stating that they are working on it . however , there has been no resolution . i cant speak to anyone as all is done my email. i really dont know what to do at this point. i have several thousand dollars invested with them and i cant get access to the account. i dont have anywhere to turn but to BBB. thanksCustomer response
04/01/2022
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
03/04/2022
- Complaint Type:
- Order Issues
- Status:
- Answered
I have been referring people to this business since July 2021. They recently changed their referral terms without notifying anyone via email. They still accepted my referrals but now refuse to pay the $100 per person referral fee. I have referrals since January 2022 that I have not been paid for.Business response
09/13/2022
We would like to apologize for the experience you had with the past refer-a-friend promotion. Per the Terms and Conditions, we reserved the right to determine if cash incentives are not warranted. Additionally, we reserved the right to limit payouts to only qualified referred members. We understand the program caused confusion and frustration and we will seek to improve the process for any future program.Customer response
09/14/2022
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 still have not received referral money when I referred within the promotion time frame.
In order for the BBB to appropriately process your response, you MUST answer the question above.
Sincerely,
***********************
Initial Complaint
01/07/2022
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
So I joined yieldstreet a few months ago and I also referred for them which was the $100 referral bonus per referral and I had atleast 1 person tell me they completed the requirements that it took for me to get that referral bonus, which is $100. I haven't received anything from yieldstreet and I've reached out to customer service with no response ever. I've actually reached out atleast 5 times through email.Business response
09/13/2022
We would like to apologize for the experience you had with the past refer-a-friend promotion. Per the Terms and Conditions, we reserved the right to determine if cash incentives are not warranted. Additionally, we reserved the right to limit payouts to only qualified referred members. We understand the program caused confusion and frustration and we will seek to improve the process for any future program.Initial Complaint
12/07/2021
- Complaint Type:
- Product Issues
- Status:
- Answered
I do not like their platform for at least 20 different reasons. I want to exit their system and liquidate my investment. I was told in late October that I would need to wait until December to exit during a quarterly event, and that all investors get an email about how to do that. I was told Dec 5th that the event ran for 20-days in November and I missed it and would have to wait until February. I double checked my email history and I did not receive anything about the event as promised. This is unacceptable. I want my investment back and to exit their horrible system now.Customer response
01/18/2022
Better Business Bureau:
At this time, I have not been contacted by YieldStreet Inc. regarding complaint ID ********.
Sincerely,
***************************Business response
09/13/2022
Hi ****,
As of April 2022, you have fully liquidated out of your investment per the liquidation process. Please let us know if you need anything else at ***************************************Initial Complaint
12/02/2021
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
First of all Yieldstreet , customer service ***** Ive *********+ times finally someone answered to give me a crappie response, so basically i have 400$ in my account from referrals the bank account thats connected is cashapp , it got closed . And i had to make a new one , my old cashapp info the banking info is on yieldstreet , and i told them about that they want a document stating that the account was closed . I cant provide that because of cashapp doesnt send info like that . They told me in a support chat that , the account was closed on October 15 , but cant provide, the statement for yieldstreet. I showed them that cashapp said it was closed but cant provide the exact info they are asking for I figured this is the easiest way for me to get help . Alll Im asking is for them to delete my other bank info off there . So i can add my new one to get my 400$ out !! I mean after so many emails you get exhausted. They still havent answered me so here i am .Customer response
12/06/2021
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,
***** ******
*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.
Customer Reviews are not used in the calculation of BBB Rating
Customer Complaints Summary
41 total complaints in the last 3 years.
4 complaints closed in the last 12 months.