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GradSave LLC

(954) 770-5136View Additional Phone Numbers444 Brickell Ave Ste 850, MiamiFL 33131-2407http://www.gradsave.com

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BBB Accreditation

GradSave LLC is not BBB Accredited.

Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.

To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.

Reason for Rating

BBB rating is based on 13 factors. Get the details about the factors considered.

Factors that lowered GradSave LLC's rating include:

  • 16 complaints filed against business
  • Advertising issue(s) found by BBB.
  • Failure to respond to one complaint filed against business.

Factors that raised GradSave LLC's rating include:

  • Length of time business has been operating.

Customer Complaints SummaryRead complaint details

16 complaints closed with BBB in last 3 years | 12 closed in last 12 months
Complaint TypeTotal Closed Complaints
Advertising / Sales Issues2
Billing / Collection Issues3
Delivery Issues2
Problems with Product / Service9
Guarantee / Warranty Issues0
Total Closed Complaints 16

Customer Reviews Summary Read customer reviews

0 Customer Reviews Customer Reviews on GradSave LLC

Customer Experience Total Customer Reviews
Positive Experience 0
Neutral Experience 0
Negative Experience 0
Total Customer Reviews 0 Customer Reviews

Complaint Breakdown by ResolutionAbout Complaint Details

Complaint Resolution Log (16)
04/11/2016Billing / Collection Issues | Read Complaint Details
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Complaint
Grad Save will not reissue a check for my daughter's 529 (her WA state GET is not currently accepting new contributions). They have not responded
Grad Save worked fine until recently. I have used them to deposit over $2000 in her 529 GET account. Now, however, I received a canceled check from WA state GET informing me they were not accepting new contributions this year (as they froze tuition). I can't do anything with the canceled check, and Grad Save has not responded to three requests to contact me/reissue the check to her other savings account.

Desired Settlement
Please contact me and reissue the check from 2/25/16 for $450 to her other savings account (US Treasury).

Business Response
There was an issue deopsiting the money into the same 529 plan as before but this issue has since been resolved with the user. We sent the user a check for the same amount directly and was received on Tuesday, March 29th. The user has since contacted BBB to remove the complaint since it was all handled already.

Consumer Response
(The consumer indicated he/she ACCEPTED the response from the business.)


03/03/2016Problems with Product / Service | Read Complaint Details
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Complaint
GradSave claims to transfer gifts to the 529 linked account of your choice. Money has not been transferred as promised and no response received.
My parents gave each of my 3 children $100 towards their college savings fund for a total of $300 on 12/20/15. Per the GradSave website, funds are transferred on the 1st and 15th of each month. That means that this money should have been credited to the accounts on or about 1/1/2016. We have provided valid 529 accounts for each child since before the gifts were given. I have contacted customer support three times, most recently on 2/14/16. None of my attempts to contact the company have gone answered and the money has not been deposited.

Desired Settlement
I am asking for a check to be mailed directly to me at my mailing address. If this cannot be accomplished, I'd like for the gift giver to be refunded in the manner in which they paid.

Final Consumer Response
I received a response promptly from the business saying that my previous communications had gone to a SPAM folder. They said that I would receive the deposit right away. I checked this morning and the money owed was deposited into my children's accounts yesterday, 2/29/16. Thank you so much for your assistance in getting this resolved. I don't believe that GradSave's sudden responsiveness was a coincidence. I have never used BBB before but am a firm supporter now!

02/02/2016Billing / Collection Issues | Read Complaint Details
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Complaint
My son has been gifted $620 over the past two years for his college fund and only $48.55 as been deposited. No phone number to reach company.
Money has been gifted into account but only one transaction has been deposited for 48.55. I would like the money that we are owed minus the fees associated with the service as they have prevented us from receiving the interest from the money.

Date Processed Amount # of Gifts
January 22, 2016 $ 24.28 1
October 12, 2015 $ 48.55 2
January 5, 2015 $ 58.26 2
November 3, 2014 $ 471.81 9

Desired Settlement
I would like all money transferred to Sebastian's 529 immediately and I would like all service fees removed from the transactions as we have missed out on the interest that would have been earned on the missing money.

Further, I believe the business should place a phone number on their website.

Final Consumer Response
Hello:

I would like to withdraw my complaint. It was discovered that the issue was not on GradSave's end and has been resolved.

Is this the appropriate way to withdraw the complaint?

Thank you!

******* ****
XXX-XXX-XXXX

12/18/2015Advertising / Sales Issues | Read Complaint Details
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Complaint
GradSave has not been able to transfer funds or close my account.
Gradsave claims to make transfers to the 529 linked account of your choice. Money has not been transferred as promised and I have no access to it.
This service is supposed to transfer the monetary gifts from friends and family to the 529 account after it has been linked, but instead the money is sitting with my account in GradSaveGifts.org and they will not respond to me. The website page states that "Gifts are processed automatically every month. Transfers require a $25 minimum."

I have emailed them multiple times with no response and the money in the amount of $985.00 is not being transferred to my daughter's 529 account.

Desired Settlement
I'm seeking the $985.00 that GradSave has been holding in my daughters account to be transferred into the linked 529 account.

Business Response
I sent an email on November 25, 2015. 7 days have gone by and no response. Another email was sent today, December 2, 2015 to all 3 emails that is listed under "Contact" on their website.

The slow response makes this website very fishy and unreliable. When I linked a 529 account via the website, there is notification in my email to confirm this transaction or link was made. Also very concerning and fishy!

Desired Settlement
A check for the amount that my daughter received which is $985.00 will help to resolve this issue.

Business Response
We had initially run into an issue depositing the funds into the users account but since then all the outstanding money that was in the Gradsave account has been transferred and deposited into the users 529 college savings plan (via check #7703).

Consumer Response
(The consumer indicated he/she ACCEPTED the response from the business.)


06/22/2015Problems with Product / Service | Read Complaint Details
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Complaint
Grad save claims to make transfers to the 529 linked account of your choice. Money has not been transferred as promised and I have no access to it.
This service is supposed to transfer the monetary gifts from friends and family to the 529 account after it has been linked, but instead the money is sitting with my account in GradSaveGifts.org and they will not respond to me. The website page states that "Gifts are processed automatically every month. Transfers require a $25 minimum."

I have emailed them multiple times with no response and the money in the amount of $150.00 is simply not being transferred to my daughter's 529 account.

Desired Settlement
I'm seeking the $150.00 that GradSave has been holding in my daughters account to be transferred into the linked 529 account.

Business Response
The email from the customer was received on 5/19 and a response was sent on 5/20 at 7:30 am. The funds that were pending to be transferred to the customer's 529 college savings plan are being processed and will be deposited in the customer's 529 account within 14 business days.

Consumer Response
(The consumer indicated he/she DID NOT accept the response from the business.)
I see in the **** **** ***** account there was a 'transfer on May 20' from the **** **** account. However the $150 were not deposited into the ******** ***** ******* ******* account as of today, Tuesday, June 2nd. Which method did you use to get the money to them? I called ******** ***** and they said if you mailed a check on the 20th they would have received it by now. They also reviewed the account today and verified the deposit is not there. I am still looking for the $150 at this point.

Final Consumer Response
Today, June 18th I have received a check for the correct amount.

Page 1 of 2
07/05/2016Problems with Product / Service | Read Complaint Details
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Complaint
Put money in, can't get it out, received no reply to my correspondence.
I have 4 accounts with $50 each for each of my 4 nieces and nephews. Earlier this year I connected their 529 accounts and tried to move the money over. The money has not moved, and I have received no response to multiple attempts to contact GradSave. The most recent deposit was February 25, this year. There is no phone number or live chat to reach them, there is only email addresses, to which I never get a response. I even sent a message to the GradSave ******** account and have not received a message back. All I want is to transfer my money to a 529 account or a refund of the money I paid.

Desired Settlement
I want the money transferred to the correct 529 accounts, or a refund of the money I have put in.

Business Response
The funds for one of the 4 children had already been transferred.

For some reason the funds for the other 3 had not been transferred even though the 529 plan was linked earlier in the year. We have since started looking into why it wasn't transferred automatically and have issued a transfer for the remaining $150 split through 3 accounts.

The funds were sent out 6/22/2016 and should be showing up in the 529 plan statement within 4-8 business days.

04/04/2016Delivery Issues | Read Complaint Details
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Complaint
GradSave has not transferred money to my daughter's 529 college savings account. They have not responded to my emails for over a month.
Gradsave claims to make transfers to the 529 linked account of your choice. Money has not been transferred as promised and I have no access to it.

This service is supposed to transfer the monetary gifts from friends and family to the 529 account after it has been linked, but instead the money is sitting with my account in GradSaveGifts.org and they will not respond to me. The website page states that "Gifts are processed automatically every month. Transfers require a $25 minimum."

I have emailed them multiple times with no response and the money in the amount of $50.00 is not being transferred to my daughter's 529 account.

Desired Settlement
A check in the amount of $50.00 deposited into my daughter's 529 account or sent to my home address.

Business Response
The $50 had not been transferred but the $50 are now being sent by check to the users 529 college savings plan to be deposited into their beneficiary's account. A tracking number is being provided to provide an accurate date of being deposited.

03/21/2016Problems with Product / Service | Read Complaint Details
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Complaint
Here is the add from groupon that I purchased https://www.groupon.com/deals/gradsave
I bought 2 deals from Groupon for Gradsave
I bought them 10/8/13 and opened the accounts 10/15/13. I have email correspondence from Eddie Perdell, the manager, verifying that the accounts were open and the accounts have started. Now I cant log on to the accounts. Ive emailed them several times and the phone number doesn't work. I contacted Groupon for help but they have not helped at all. I would like to transfer my accounts out to another bank. The balances should at least be $100 if not more.

Desired Settlement
I would like to transfer my accounts out to another bank. The balances should at least be $100 if not more.

Business Response
The user was having issues logging into her account since we had switched domains (from gradsave.com to gradsavegifts.org). The $100 from LivingSocial vouchers are still in the account and available to be transferred to any 529 college savings plan as intended.

02/08/2016Problems with Product / Service | Read Complaint Details
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Complaint
On Sept 15 2014 I got an email that I had gotten a gift of $50. Today is 1/13/16 and I dont see that amount in there. I never attached an account.
On sept 15 2014 I got an email that I had gotten a gift of $50. Today is 1/13/16 and I dont see that amount in there. I never attached an account. I called XXXXXXXXXX, sent emails. On Fb, it says no one ever contacts them. So I'm concerned, especially because it's been over a year! I know I have to get on this now. Their Facebook has not been active since Feb 2015.

Desired Settlement
Could you please have them investigate that you got this money from ******* ****** on 9/15/2014 If you never charged her, let me know first. Perhaps I can work this out with her. She was sending a agiftfor my 1yo son's bday=(
If you did charge her it should be in my account. Then let me know. I would like that money sent to me, and my account closed.

Business Response
This issue was already handled over email and it seems that the question was sent through a BBB complaint as well.

The money had been temporarily shown as deposited into the GradSave Gifts account but we were later able to confirm that the funds were never withdrawn from the original bank account, so the $50 were removed from the GradSave Gifts account.

Since the $50 were never withdrawn in the first place, there is no money left to be transferred.

02/08/2016Problems with Product / Service | Read Complaint Details
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Complaint
The organization takes a monthly payment from me and claimed it would transfer the funds to a 529 account but has not done so & I cannot access funds.
GradSave has been taking a monthly payment from me for 3 months and has accumulated $125 in my account. They say they will transfer the funds to a linked 529 college savings account every month, but have not yet made a single transfer in 3 months. I have no access to the funds. I have emailed them three times and gotten no response. I cannot find a phone number to reach them.

Desired Settlement
I would like all funds transferred to the 529 Scholarshare account I've already linked to my GradSave account, all future payments to GradSave stopped, and my GradSave profile closed.

Business Response
We attempted transferring the funds into the users ScholarShare 529 plan and our transfers were rejected twice by the plan without a proper explanation.

We have since been in touch with the user and have agreed to send the user the $125 in her account directly to her by a check that has an expected delivery date of Thursday, January 29th. The check was sent over USPS with tracking number: XXXXXXXXXXXXXXXXXXXX

Page 1 of 2
08/12/2015Problems with Product / Service | Read Complaint Details
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Complaint
GradSave failed to deposit money I gave them in May into my son's Charles Schwab account.
In May 2015, I made a contribution to my son's (***** *******) GradSave account of $**** to be transferred to my son's Charles Schwab account. GradSave failed to deposit the money into my son's Schwab account. I contacted them several times by phone and email in the middle of June. After a delay in time, I received the following email back on June 17:

Hi ****,

We are so sorry about this issue. It's showing up in my records that the contribution was sent out on May 20th but it seems like it hasn't been deopsited even though they account holders haven't reached out to us to indicate that anything was wrong with the account or the check itself. I am having our accounting team look into it ASAP.

In the meantime I am reissuing the transfer today and have waived the credit card processing fees (which would have come out to $29) because of this delay. It should be showing up in your college savings account within 6-8 business days.

Again, very sorry about this issue and we are looking into what went wrong during this transfer.

Thanks,
**** **********
****@gradsavegifts.org


As of June 30 at 1:30 a.m., the amount has not been posted into the account.

Desired Settlement
I would like GradSave to provide me with documentation of their deposit into my son's Schwab account. I would also like an email explaining to me how such a gross oversight could occur. Their actions constitute financial fraudulent. Their website does not have a phone number for complaints. I had to search the internet for a number. The numbers I found did not even have a voice mail confirming the company's name. I left voice mails and no one ever called me back. If I continue to do buisness with this company, I would like a phone number and a contact name to issue complaints/concerns in the future.

Industry Comparison| Chart

Educational Consultants

Additional Information

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BBB file opened: 09/12/2012Business started: 06/30/2011
Licensing, Bonding or Registration

This company is in an industry that may require licensing, bonding or registration in order to lawfully do business. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.

These agencies may include:

Miami-Dade Tax Collector
140 W Flagler Street, 1st Flr
Miami, FL 33130
(305) 375-5452
http://www.miamidade.gov

BBB records show a license number of 7331457 for this company, issued by Miami-Dade Tax Collector. Their web address is http://www.miamidade.gov.

Check License Status: https://www.miamidade.county-taxes.com/public/business tax/accounts/7053945

Please note that governmental licensing information may not be current.

Type of Entity

Limited Liability Corporation

Contact Information
Principal: Mr Marcos Cordero (Owner)
Business Category

Educational Consultants

Map & Directions

Map & Directions

Address for GradSave LLC

444 Brickell Ave Ste 850

Miami, FL 33131-2407

To | From

LocationsX

1 Locations

  • 444 Brickell Ave Ste 850 

    Miami, FL 33131-2407

Industry Comparison ChartX

The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in Southeast Florida and the Caribbean. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.

*GradSave LLC is in this range.

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Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

  • Advertising or Sales
  • Billing or Collection
  • Problems with Products or Services
  • Delivery
  • Guarantee or Warranty

We do not handle workplace disputes, discrimination claims or claims about the quality of health or legal services.

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Additional Phone Numbers

  • (786) 548-2914
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BBB Complaint Process

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Industry Tips for Educational Consultants

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BBB Customer Review Rating plus BBB Rating Overview


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Customer Review Experience Value
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Neutral Review 3 points per review
Negative Review 1 point per review

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BBB Letter Grade Scale

BBB Rating Value
A+ 5
A 4.66
A- 4.33
B+ 4
B 3.66
B- 3.33
C+ 3
C 2.66
C- 2.33
D+ 2
D 1.66
D- 1.33
F 1
NR -----
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3 stars 3.00-3.49
2.5 stars 2.50-2.99
2 stars 2.00-2.49
1.5 stars 1.50-1.99
1 star 0-1.49

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