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7491629
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2023-09-02
|
Managing an account
|
Checking or savings account
|
|
| Issue |
Managing an account
|
| Timely |
Yes
|
| Company |
M1 Holdings Inc.
|
| Product |
Checking or savings account
|
| Sub Issue |
Deposits and withdrawals
|
| Sub Product |
Savings account
|
| Date Received |
2023-09-02
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-09-02
|
| Complaint What Happened |
On XX/XX/XXXX XXXX, my M1 finance saving account has been hacked and {$63.00} XXXX are missing.When i contacted them, they did not seem very responsive nor helpful. I asked to talk to a supervisor and nobody was available.They sent me a form to fill and told me they will investigate.It has been more than 10 days and the funds have not been refunded.
|
| Consumer Consent Provided |
Consent provided
|
|
|
7079473
|
2023-06-06
|
Closing an account
|
Checking or savings account
|
|
| Issue |
Closing an account
|
| Timely |
Yes
|
| Company |
M1 Holdings Inc.
|
| Product |
Checking or savings account
|
| Sub Issue |
Can't close your account
|
| Sub Product |
Checking account
|
| Date Received |
2023-06-06
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-08-04
|
| Complaint What Happened |
Thu, XX/XX/XXXX, XXXX i wrote them : i would like to close my account and cancel my membership they responded : Thu, XX/XX/XXXX, XXXX Your request ( XXXX ) has been updated. To add additional comments, reply to this email.
Hi XXXX, Your M1 account ( s ) has been closed.
but later in XXXX they wrote to me : Thu, XX/XX/XXXX, XXXX ( 5 days ago ) Invest Negative Account Notice Hi XXXX XXXX We have identified your M1 Invest account, XXXX, currently containing a negative balance of XXXX XXXX
Because they continued to charge me for the membership fee
|
| Consumer Consent Provided |
Consent provided
|
|
|
9538816
|
2024-07-17
|
Managing an account
|
Checking or savings account
|
|
| Issue |
Managing an account
|
| Timely |
Yes
|
| Company |
M1 Holdings Inc.
|
| Product |
Checking or savings account
|
| Sub Issue |
Problem accessing account
|
| Sub Product |
Savings account
|
| Date Received |
2024-07-17
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-07-17
|
| Complaint What Happened |
The bank only supports email support. I emailed them from the account email 3 times and get no response. I email them from another email account and they immediately respond telling me to use the other email. I have been stuck in a loop for weeks without support.
|
| Consumer Consent Provided |
Consent provided
|
|
|
9655733
|
2024-07-30
|
Closing an account
|
Checking or savings account
|
|
| Issue |
Closing an account
|
| Timely |
Yes
|
| Company |
M1 Holdings Inc.
|
| Product |
Checking or savings account
|
| Sub Issue |
Fees charged for closing account
|
| Sub Product |
Other banking product or service
|
| Date Received |
2024-07-30
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-07-30
|
| Complaint What Happened |
I'd like to file a complaint again M1 Finance.
When I initially opened my IRA account with M1 Finance, there will be no fees associated with maintaining the account. However, I have recently been informed that, starting XX/XX/scrub>XXXX XXXX XXXX M1 Finance will implement new fees if the account balance is below {$10000.00}. This change was not disclosed to me at the time of account opening, and I find this sudden imposition of fees to be both surprising and unfair.
Given these new fees, I have decided to transfer my IRA account to another financial institution. To my dismay, I have discovered that M1 Finance charges a {$100.00} outgoing fee for transferring the account, in addition to a {$100.00} fee for closing the account. These fees seem excessive and are causing a significant financial burden on me, especially given that the policy changes were implemented without prior notice or adequate time to adjust.
I believe that M1 Finances actions are deceptive and do not align with fair consumer practices. The lack of transparency about potential future fees and the high costs associated with transferring my account are unacceptable.
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| Consumer Consent Provided |
Consent provided
|
|
