Checking or savings account -- Managing an account -- Complaint #5358857
Complaint Overview
Complaint ID: 5358857
Company: Betterment LLC
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Funds not handled or disbursed as instructed
State: California
ZIP Code: 93306
Date Received: 2022-03-23T12:00:00-05:00
Date Sent to Company: 2022-03-23T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On two occasions money that I have transferred from my savings account into my checking account with the same financial institution has been held for more than 5 days. Both times the bank stated they have a 1-2 business day hold for transfers and then said that the policy had been changed to 4-5 business days. I am very concerned about why my financial institution will not allow me to move money between my accounts.
Frequently Asked Questions
What is Complaint #5358857 about?
Complaint #5358857 was filed against Betterment LLC regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2022-03-23T12:00:00-05:00.
How did Betterment LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Betterment LLC?
Yes, visit the Betterment LLC company profile at readthecomplaint.com/company/betterment-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.