ComplaintsforLanda

• Initial Complaint

  10/05/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I recently made an account on the App and deposited $8,000 of money into the app. I was under the impression that you are able to buy and sell shares freely. It did not state anywhere on the app that you have to hold the share you purchase until the initial offering is done. Unlike **** where it states CLEARLY that you have to hold for at least 4 months, all that information was hidden in the "legal stuff". If you read all the "legal stuff" then you will find that information but this is a very crucial piece of information that should be communicated transparently and not one that you should have to seek out. I would not have put that amount of money into something that would have me holding indefinitely. I would like my shares sold and my money refunded. I would also like there to be a clear message for consumers before any transaction is completed communicating that shares are not tradable until all outstanding are sold and if those shares are not sold then you are forced to hold foever.

  Business response

  03/23/2023

  Dear *****,
  We apologize for any inconvenience that you may have experienced while using our Landa app. We understand that you have encountered some issues related to holding shares in a series that are currently in primary offering and not available for trading.
  We would like to clarify that our offering circular and product information are always available and provide our users with complete details regarding the offering. We encourage our users to review these materials to fully understand the terms and conditions of their investments.
  Once again, we apologize for any inconvenience you may have experienced.
  Sincerely,
  The Landa Team
  
  

  Customer response

  03/23/2023

  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

  09/14/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Well I invested in Land App about 4 months ago and I invested $1000. In it. It was ok but months later the investment wasn't doing too hot so I try to sell the shares, but it was not selling, so I tried to deactivate my account and this is when I found out they had a three step method. One was sell shares, the other is collect dividends, and another was take out cash. I tried to sell my shares again, but again it didn't sell. There was one time I was close taking my money, but they took it and said I didn't have enough and they also turned around and suspended my account. Now I can't do anything and my money is stuck in there! I called them several times about it and they're saying it's nothing they can do.

  Customer response

  10/09/2022

  Better Business Bureau:
  
  At this time, I have not been contacted by Landa Holdings inc. regarding complaint ID ********.
  
  Sincerely,
  
  *********************************
  

  Business response

  03/21/2023

  Dear ********** 
  We apologize for any inconvenience you experienced with Landa, and we are glad your issue has been resolved. Below is a summary of the events and resolution of your issue.
  Upon a routine review of your account, it was discovered that your verification information was flagged by our banking partner for potential fraud. Standard procedures were followed, and you were requested to provide your identity verification documents as required by law and our banking partner to satisfy a fraud review.
  After review, we were able to verify your account and you were able to withdraw funds from your account.
  We take all customer complaints seriously and remain committed to ensuring the safety and security of our customers' accounts. We apologize for any inconvenience this situation may have caused.
  All the best,
  The Landa Team
  

• Initial Complaint

  09/12/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have constantly contacted support for a week and a half straight about fixing the issue with me being able to withdraw my money. I have associates who also use the app and have been able to withdraw their money with no problem but I cannot. I have requested an ETA from the tech team multiple times and at this point I feel that they are just not trying to let me get my money. I expressed it to them that I needed it as soon as possible and they are not helping me and are constantly giving me excuses.

  Business response

  03/22/2023

  Dear ******,
  We note that all deposited funds that settled in your ***** account have been successfully returned to your external bank account. We have also provided a brief summary of the events related to your ***** account.
  Upon reviewing your account, we identified repeated attempts to withdraw funds from your ***** account that were greater than your deposit amount(s) within the 3-day settlement waiting period for each transfer. This activity was flagged as potentially manipulative/fraudulent behavior, and goes against the standard policies and regulations of our banking partner. As a result, our banking partner locked your account.
  Once again, all deposited funds that settled in your ***** account were successfully returned to your external bank account.
  We are dedicated to ensuring the safety and security of our customers' accounts.
  Best regards,*****

• Initial Complaint

  08/30/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I deposited money to purchase shares a couple months ago, it never went through so I cancelled the buy order about 2-3 weeks ago. I have been attempting to withdraw my money ever since and have been unable too. I have contacted there support on three separate occasions and all have said something along the lines of your a priority ticket, I will get back to you with any update from our team then nothing. They stop replying and you dont hear from the person that was helping you originally, you start another customer support chat and the new person your talking too says something similar. I just want my money withdrawn to my back and to be done with this horrendous company.

  Business response

  03/23/2023

  Dear ******,
  We apologize for any inconvenience you experienced with the Landa app, and we are glad your issue has been resolved. Below is a summary of the events and resolution of your issue.
  Upon a routine review of your account, it was discovered that your SSN, mobile number, and photo ID were flagged by our banking partner for potential fraud resulting in a restriction of your account. We then worked diligently with our banking partner to unrestrict your account, and successfully transferred your funds from your Landa account to your external bank account on August 31st 2022.
  Once again, we apologize for any inconvenience you may have experienced.
  Sincerely,
  The Landa Team
  
  

• Initial Complaint

  08/01/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Moneys were withdrawn from my account in the sum of $1000 by landa holdings. Investments in the Landa app were never completed, no shares were purchased. I requested my money back. Landa Account shows the transfer was initiated but never completed. I have verified my personal info numerous times with photos of myself and drivers license. customer service has nothing but excuses. I just want my money put back into the same account it was withdrawn from.

  Business response

  08/23/2022

  According to our records, **** ********* funds were returned back to his on August 1, 2022. 

  
  

  Customer response

  08/23/2022

  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

  07/18/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  The problem I am having is that I have invested a lot of money and time into this app and my money has been stolen. I was constantly told something is being done to fix my problem, which is that the amount of money I could withdraw went down when I have never withdrew any money. I am fed up and I would like something to be done. This has been going on for over 2 months now and that is just unacceptable, the customer service team for ********************** told me that it is a technical issue and did not give me any specific information that would give me hope. I plan to get all the money I am supposed to be able to withdraw back, get all the money I invested back, and have my account deleted after as I want nothing to do with this app anymore.

  Customer response

  08/22/2022

  Better Business Bureau:
  
  At this time, my complaint, ID ******** regarding Landa Holdings inc. has been resolved.
  

  (By clicking "OK", your complaint will be closed as Resolved.)

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

• Initial Complaint

  06/13/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  ******************************************* [**************************]sunday ,June 12,2022 [ ***************************] chief executive **************************** APP LLC **************************************************************************** ************ Re: [Landa App LLC in reference to locked membership & remaining interests]Dear Mister ****** On April, 15,2022, I acquired, a number of reality shares totaling a sum of 269 shares at a total cash price of [$3,058.17]. Address of mentioned property is, ********************************************************** Unfortunately, your companies performance has not shown to demonstrate the type of communication sufficiently expected from a company that I generally conduct business arrangements with. Although I attained all the required information needed for verifyin my identity the service i was shown was inadequate because I was getting no help from the customer support team, very short responses that left me with a sense of uneasiness. The process doesn't work suitably, the service wasnt performed correctly and, I was billed the total amount of $4,218.17 then found within some point after, I become rejected/ suspended from the use of the Landa platform, by I can only personally speculate your CTO. . After I've reached out to him the same manner I am reaching out to yourself right now! However, I have the statements from my bank and I have been round and round with no explanation an now I'm starting to believe that this is a investment scam or something was undisclosed to me and was certainly misrepresented, with the intent of just locking my funds abruptly with no valid explanation or justification as to why that action was being lifted up. Now I am completely unable to manage the purchased shares including the ability to be able to deactivate my account appropriately! Simply put, the fact I had reached out to numerous members of your staff expressing my own confusion and concern but only to be unanswered is frustrating! You can only be understanding of how that would

  Business response

  07/18/2022

  This customer's account was identified as fraudulent by the Company. The Company initially reached out to the customer asking him to verify his identity via video chat. The customer refused to open his camera and/or present his identification. The Company then asked the customer to submit a photo of himself holding his identification. The Company reviewed the photo and determined that it was a fake.
  

• Initial Complaint

  03/02/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I deposited $9400 last November and when I decided to withdraw, my account was internally locked. When I reached out to landa they asked me for a id and selfie December 7th to verify it was me so I could recoup my funds.. since then I have submitted 2 more Identification and selfies and still have not gotten an answer on when I should be receiving my funds back. They keep answering my emails saying I will look into this and no one reaches back out to me. Im at the point where I think this company is committing fraud through application and also robbing people. There is absolutely no way it takes that long to reimburse someone. Everyone seems very nonchalant about the situation but this is $9400 that has been out of my possession for 3 months how can you just steal someones hard earned money.

  Business response

  03/23/2022

  Landa adheres to the highest standards of consumer safety and fraud prevention. This includes compliance with applicable legal and regulatory requirements, as well as best practices. To do this effectively, we partner with third-party services providers that assist us in identifying and reporting potential and known fraudulent activity.

  Regarding Complaint #********:
  

  On November 29, ******************************************** created a Landa account. He passed our initial setup process, including KYC checks, and connected a bank account. **************** then proceeded to deposit money into his new Landa account. 
  

  The following day, November 30, 2021, **************** disconnected the bank account he originally connected and added a new bank account with a different banking services provider. He then proceeded to attempt to withdraw these funds. This activity was flagged as fraudulent both by our internal systems, as well as by our third-party service providers. His withdrawal was canceled and he was invited to speak with our customer support team to address the issue. **************** contacted the customer service team ten times over the next 3 months. On each occasion, he was provided with instructions on how to verify his account, in order to enable his account. While he attempted to comply with our process, we were still unable to accurately verify his identity. **************** informed us that he no longer has access to his original bank account.

  The combination of his repeated inability to comply with the supplied instructions, and the fraud alerts triggered by our internal systems as well as by our third-party service providers, resulted in our ultimate decision to close his account and return his funds.

  On March 3, 2022 we informed **************** that his account had been flagged as fraudulent and that, pursuant to our policy, we would be returning funds in his Landa account back into the bank account from which the funds originated. Shortly thereafter, we initiated the transfer of funds to the original bank account.
  

  We informed **************** that he will need to work directly with his bank in order to reclaim the funds. We do not have the authority to contact or otherwise instruct **************** bank.

  Links:
  
  

  Our 3rd ************** : ********************************

  Details on Landas Banking Policies and Practices : *************************************************************************

   

  - Landa Customer Services

  
  
  
  

*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. ↩