Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. 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.

• Initial Complaint

  Date:12/14/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Seedfi sold my account in good standing with no warning and no I have fees to make my payments. This is unacceptable. I NEVER SIGNED A CONTRACT WITH SST. I should not have to pay fees that I wasnt paying before. This is a scam.

  Business Response

  Date: 12/21/2022

  Hi ******,
  
  SST charges $4.95 for one time payments. They do not charge a fee on recurring payments.
  
  To get additional clarity on their fee structure please contact their help line at **************.
  
  Thanks,
  SeedFi

• Initial Complaint

  Date:12/12/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Seedfi (seedfi.com) claimed to provide a loan/ saving account set up. They deposited a set amount in my bank account and explained the remainder would be set aside in a savings account. They said when I paid the original amount disbursed they would then release the remaining balance set aside in the savings account created and monitored by them. They then sold the entire loan and I'm being charged double the original amount disbursed. I have tried contacting the business the loan was sold to (SST, tel **************) to come to an agreement but they are unresponsive. I would like an adjustment of the original loan amount.

  Business Response

  Date: 12/14/2022

  Hi *****,
  
  Our team reviewed your welcome call. Our agent stated clearly that the savings is locked until the total loan amount of both upfront and savings along with fees and interest is paid in full. If you need assistance with your loan, please contact your new servicing provider, SST. You can reach out to them directly at ************ or email them at customerservice-*************** for further assistance.
  
  Thanks,
  ******

• Initial Complaint

  Date:12/10/2022

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Contract violation: original loan company (Seed Fi) sold to another agency (SST). Seed Fi or SST have yet to provide a letter detailing specifically that the new company(SST) will provide details about savings account, and issuing a check for $1500 when the so called savings plan has been paid off. This is a very deceptive operation, and not transparent. I want this specifically addressed by both companies. Seed Fi is a sham operation and law suits are forthcoming, I am sure. The practice of lending someone a small amount, making them pay a large payoff into a savings account , supposedly to pay down the account and the issue you the rest of the loan AFTERWARDS is deceptive and predatory. I need a guaranteed legal document mailed to me by this SST company guaranteeing payment. Their website is not a secure one, and their customer service is amateur and inarticulate.

  Business Response

  Date: 12/21/2022

  Hi ******,
  
  We're sorry to hear that SST is not quickly disbursing your savings.
  This is an area that they're working on improving to get customers their funds faster.
  
  My team just resent you an email separately confirming your savings will be available once you pay off the loan.
  
  As for the loan structure, please refer to the loan contract you signed in your account center. You also gave verbal authorization as part of this account opening process prior to funding.
  
  Thanks,
  ******

  Customer Answer

  Date: 12/22/2022

   
  Complaint: 18553426
  
  I am rejecting this response because:The loan was sold to another company, SST. They refuse to address anything in regards to a "savings plan". The SeedFi website was closed. There isn't anyway to review the amount paid into this "plan". U I was only loaned $750, which is what SST should be involved with. Most of that amount was paid to SEEDFI. You violated the terms of the agreement when you backed out of servicing it. It is not a valid claim at his point.
  
  Sincerely,
  
  *********************

  Business Response

  Date: 12/26/2022

  Hi ******,
  
  We understand your frustration that servicing of your loan has been transitioned to someone new. The terms of your loan are memorialized in the loan agreement and will remain the same. The specified loan servicer can be changed without borrower consent to support the continued repayment of loans.
  
  The Borrow & Grow is a two part loan you agreed to when you first opened the account. For information on your savings, please reach out to SST for more information.
  
  Thanks,
  SeedFi

  Customer Answer

  Date: 01/12/2023

   
  Complaint: 18553426
  
  I am rejecting this response because:This is a form response that you have sent every one of your customers (that you literally abandoned to a shady debt collector with off ************ harassing ** with multiple phone calls) This SST in ********************* does not answer the phone, and they refuse to forward anything in writing regarding the so called Borrow and Grow con game that you roped innocent people into. This is illegal, you know it is, and you are low life scum for doing this. Lawsuits need to be filed. I want the Better Business Bureau to follow up with me, because THIS is unacceptable. This SST is not going to honor anything. You will be accountable for forwarding our personal information to this dark and shady operation. The phone calls come from ***** at all hours of the day. You people at Seed Fi are a disgrace and need to be taken to court. 
  
  Sincerely,
  
  *********************

• Initial Complaint

  Date:12/09/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I received a **** loan from seedfi. It was a borrow and grow plan. As I paid the **** dollars money would be deposited in a fdic savings account from cross river bank. I can no longer get information about my account from seedfi. I'm supposed to open another account with "stc" company. I cannot find any information on this company or my savings account. I am on disability for a mental health condition. This has caused me tremendous stress and I am worried about credit fraud.

  Business Response

  Date: 12/12/2022

  Hi *****,
  
  We sent out an email last week to clarify that your savings is still there. If you have any questions about your savings or how to access your account via SST, please reach out to them directly at ************ or forward your message to them at customerservice-*************** for further assistance. Thank you.
  
  Thanks,
  ******

• Initial Complaint

  Date:12/07/2022

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I signed up for a borrow and grow plan with SeedFi and havent had an issue with it. Every other week money is withdrawn from my account as agreed to. However today I received an email stating that my loan agreements would be transferred to another company that seems to have nothing but negative reviews. I find this extremely distrustful and would like to know why a heads up wasnt given on the situation with the loan. Its absolutely unacceptable

  Business Response

  Date: 12/08/2022

  Hi ******,
  
  I apologize that our communication didn't meet your expectation. I have forwarded your feedback to our internal team for future improvements.
  
  Thanks,
  ******

• Initial Complaint

  Date:12/07/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On February 5, 2022 I opened a SeedFi *****************************Secure Loan. I paid the loan off on November 29, 2022. I contact customer service on December 1st to confirm when my saving balance of $1350 would be available to withdrawal. The rep indicated that they needed to wait for the money to clear from my account and then it will be moved from the locked status to unlocked status allowing me to withdrawal. I checked my account on December 6th, as I confirmed with my bank that the funds have cleared. The amount in my Savings balance showed $0. I contacted customer service who told me that a new organization SST was managing this program. I tried to find out information on SST without success. When I spoke with the customer service rep from SST they did not seem to know what was going on. They asked me the same questions multiple time and put me on hold for a long time. I waited for over 10 minutes and then was hung-up on. I called back and started the questions all over again. This made me question what was going on. I was told by the rep that they sent me a check and it could take up to 30 days to get my money. I argued that this was not the way the program works and quoted, from the SeedFi website, that "Once the final payment settles, your SeedFi Account is unlocked and funds can be withdrawn. Needless to say, I got no where with this individual.I want to know where is my money? Why can I not get a straight answer? Why aren't the customer service representatives aware of the policies and procedures? This show unprofessionalism which makes customers nervous about doing business with this establishment. I sent an email directly to the business with no response. This was my next step in hoping to get answers.

  Business Response

  Date: 12/08/2022

  Hi *****,
  
  I am so sorry about your experience. Your loan was paid off right before the *** transition. We will be send your savings unlocked balance of $1353.86 to your checking account on file early next week. If you still don't get the checking account funds later next week, please email us at *******************************.
  
  Thanks,
  ******

• Initial Complaint

  Date:12/06/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Recently SeedFi ended their Borrow + ************ account / credit building program and sold off the accounts to some third party company. I now have no access or way to view the balance of the savings account supposedly held at **************** and yet this new company wants me to continue paying towards the plan.This entire handoff has been really sketchy. I have $2,500 in savings that I have no access to.The new company SST that is supposedly servicing the accounts has not responded at all either.SeedFi customer service has just said "not our problem now" in not so many words.

  Business Response

  Date: 12/08/2022

  Hi ***********,
  
  
  We just emailed our customers to clarify that their savings are still with SST. Once your loan is paid off, SST will assist you in receiving your savings by mailing you a check. If you have any questions, please reach out to them directly at ************ or forward your message to them at customerservice-*************** for further assistance. Thank you.
  
  ******

  Customer Answer

  Date: 12/09/2022

   
  Complaint: 18535412
  
  I am rejecting this response because:

  SST does not reply to any of the customer service emails. This is highly concerning. I do not trust I will be able to access the savings when SST and the customer service email are never responded to. SeedFi needs to address these issues with SST because this has been a horrible experience that has ruined the trust element.

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

  Business Response

  Date: 12/26/2022

  Hi ***********,
  
  Please call SST directly at ************ for quicker response.
  
  Thanks,
  SeedFi

• Initial Complaint

  Date:12/06/2022

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  They "transferred" my account.. My savings have disappeared. I have asked to cancel my account and the difference between the amount Seedfi originally gave me and the overage I have paid be refunded back to me. The person I spoke to could not give me any information and I could hardly understand a word he was saying. What I did understand is that it would take up to 30 days for me to get my "savings" if I paid off my account which is most definitely not the arrangement I agreed to.

  Business Response

  Date: 12/08/2022

  Hi *******,
  
  We just emailed our customers to clarify that their savings are still with SST. Once your loan is paid off, SST will assist you in receiving your savings by mailing you a check. If you have any questions, please reach out to them directly at ************ or forward your message to them at customerservice-*************** for further assistance. Thank you.
  
  ******

• Initial Complaint

  Date:12/06/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  SeedFi randomly sold my loan to SST, did not provide a new account number, and claimed that they even will have autopay continue on my loan. They gave my bank details to another company! I did not consent to this. I have no way to access the loan info at said new company.

  Business Response

  Date: 12/08/2022

  Hi ******,
  
  SST sent out all customer's account numbers two days ago on December 6th. Please double check your email. If you have any additional questions, please reach out to them directly at ************ or forward your message to them at customerservice-*************** for further assistance. Thank you.
  
  ******

• Initial Complaint

  Date:12/05/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have a Borrow and Grow account with SeedFi. As part of this plan, I took out a $3500 loan. I receive $1000 and $2500 was deposited into a savings account that I cannot access until I pay off the loan. This is fine, and I've made all payments so far. My balance on the loan is now about $2200, less than the amount in the account. On Friday, 12/2, I received an email from SeedFi that my loan is now managed by "SST." It did not say what SST stands for. Email attached. It said I would receive an email from SST with an account number today (12/5), but have not received the email. SeedFi provided an link to where I can create an account with SST, but doing so required the account number that I have not received. This is the link: (*******************************************************************************), and frankly it looks like a scam website - the name of the site is ***************. Because they did not say what SST stands for, I cannot find any information about them online. They also provided a customer service number for SST which does not work. My SeedFi account now does not show a loan or a savings account, and since I also cannot access SST, I am unable to see any information about my account. I want the funds in the savings account to be applied to the loan immediately and for the remaining balance to be returned to me.

  Business Response

  Date: 12/05/2022

  Hi ******,
  
  All Borrow & Grow customers are being serviced by SST now. If you need help to get your *** account login setup, please reach out to them directly at ************ or forward your message to them at customerservice-*************** for further assistance. They will be able to assist with your withdrawal request.
  
  Thanks,
  ******

  Customer Answer

  Date: 12/05/2022

   
  Complaint: 18524034
  
  I am rejecting this response because:

  The phone number you provided does not work.

  SST has no information about the savings account, only the loan.

  i called **************** and they said that SeedFi has to connect me to information about my savings account. I cannot see any information on my savings account at SeesFi. Where is my $2500? This is theft.

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

  Business Response

  Date: 12/09/2022

  Hi ******,
  
  We are aware of the issue SST has. It is being fixed. We sent out an email yesterday assuring our customers the savings is still there. Please contact SST in a few days, and they will have that information available.
  
  Thanks,
  ******

  Customer Answer

  Date: 12/15/2022

   
  Complaint: 18524034
  
  I am rejecting this response because:

   

  I keep getting told that the terms of the agreement remain the same even though SST now manages the account. But the terms of the agreement are NOT the same because

  1. I made this agreement with SEEDFI, not with a business that has a 1-star rating on the Better Business Bureau.

  2. In the agreement I made, I would get access to a savings account. As it stands now, when I pay off the loan I will get a CHECK mailed to me which could take up to a MONTH.

  THESE ARE NOT THE ***** I AGREED TO.

  There is absolutely NO WAY that I need to accept the original terms of the agreement. YOU have violated the terms, so the terms are NULL and VOID. An AGREEMENT between two parties is binding for BOTH parties. That is basic, basic, basic business. Basic contract. YOU get to violate the terms of our agreement but are still placing the restrictions of the agreement on me? No way.

  Apply the funds in the savings account to the loan and direct deposit the rest to me. That is the only resolution I will accept.

  As you said, several people have made this complaint. I am looking into options to file a class-action lawsuit.

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

  Business Response

  Date: 12/26/2022

  Hi ******,
  
  We understand your frustration that servicing of your loan has been transitioned to someone new.
  
  The terms of your loan are memorialized in the loan agreement and will remain the same.
  The specified loan servicer can be changed without borrower consent to support the continued repayment of loans.
  
  As for your unlocked savings sent via a mailed check, we unfortunately don't have control of this.
  
  To get additional clarity from them, please feel free to contact their help line at **************.
  
  Thanks,
  SeedFi