Checking or savings account -- Opening an account -- Complaint #6385113
Complaint Overview
Complaint ID: 6385113
Company: Solo Funds INC.
Product: Checking or savings account
Sub-Product: Checking account
Issue: Opening an account
Sub-Issue: Account opened as a result of fraud
State: Pennsylvania
ZIP Code: 195XX
Date Received: 2023-01-01T12:00:00-05:00
Date Sent to Company: 2023-01-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Ive used a XXXX app to fund small loans to people who need them, in return for a tip paid back to me when the loan is repaid. All funds transfers have been done via debit card debits and credits. On XX/XX/2022, I received an e-mail from the app, SoLo Funds, telling me that someone had repaid a loan to me for,., where typically within those quotes would be the amounts repaid. It also said that non-amount would be available in my, Wallet as SoLo Cash. I e-mailed the company asking about the non-amount in the e-mail, and stating that, As I dont have a SoLo Wallet, Im assuming you wouldnt have opened an account somewhere in my name. While waiting for the company to respond I rummaged through the app & found that the loan repayment had in fact been deposited into a, SoLo Wallet account that had been opened for me. Since then all loan repayments have been deposited into this SoLo Wallet, which I then have to withdraw from in order to forward the funds back to me via debit card transactions.
Frequently Asked Questions
What is Complaint #6385113 about?
Complaint #6385113 was filed against Solo Funds INC. regarding Checking or savings account specifically about Opening an account. It was received by the CFPB on 2023-01-01T12:00:00-05:00.
How did Solo Funds INC. 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 Solo Funds INC.?
Yes, visit the Solo Funds INC. company profile at readthecomplaint.com/company/solo-funds-inc 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.