ComplaintsforTopLine Financial Credit Union

• Initial Complaint

  06/26/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  We purchased a second-hand car and got finance through the car dealer with Topline Financial. On our first payment, we were charged extra for "forced Insurance" as it took a few weeks for our ******************** to be transferred from the old car to the new car. Even though we have talked to Topline several times about this, had State Farm contact them several times about this, and had commitments from Topline phone operators that they will stop charging this "forced insurance", they are still taking out more than the agreed payments as a "forced insurance". We have bought multiple cars over our lifetimes, and this is the first time this has ever happened, and to be honest, it feels like a scam.We have tried to rectify this situation by talking to Topline phone operators and our ******************** rep multiple times, and even though we get assurances from Topline that they will stop charging us, every month they still charge us over the agreed repayments. Hence, I have come to make my first ever complaint to BBB.

  

  Business response

  07/07/2023

  TopLine Financial financed an auto loan for *********************************** and ******************* that funded on 8/11/2022.  Full coverage auto insurance including collision is a requirement when the loan is secured with that vehicle including listing the lender as a lienholder.  TopLine monitors for verification of this coverage on every auto loan to ensure adequate coverage.  When that coverage cannot be verified, notices are sent to the borrower notifying for them to provide that coverage information to TopLine.  TopLine utilizes an insurance company to 'force place' property damage coverage if adequate coverage is not provided within 30 days.  TopLine did finally receive notice of this coverage from the borrower's insurance agent ********************** with an effective date of 9/19/2022.  This was more than 30 days from the purchase date of the vehicle which means the vehicle was not insured for that period of time.  ********************* TopLine uses (State National) placed property damage coverage for that period of time from 8/11/2022 - 9/19/2022.  This premium ($939.00) was added to the borrower's loan balance and the payment was increased $20.01 to account for the premium added for the remaining term of the loan.On January 23, 2023, we received an email from the borrower explaining that they have full coverage with State Farm and indicating they took posssession of the vehicle on 8/11/2022 and would like to have the added insurance removed and any payments to date refunded to them.  They included a copy of an insurance binder from their agent showing an effective date of 8/11/2022.  TopLine provided this information to State National and found out from the corporate office at State Farm that the policy effective date was still 9/19/2022, not 8/11/2022 as the agent suggested on the binder. 

   

   

• Initial Complaint

  08/31/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I just started banking with Topline and thought it was an ok bank. One thing was that I didn't realize there were limited branches, but it does at least have shared banking with other branches. Recently I noticed I made a $210 transfer to my skrill account and my balance was positive. Immediately the transfer is complete and in my skrill account and I use the money right away. I'm even able to make another $100 transfer that completes with no issue. Again, I also use those funds immediately. 4-5 days later I noticed my account is now negative.. My $210 transfer is refunded back into my checking account and I'm slapped with a non sufficient funds return of $29 as all these other transactions are showing up. A day later the $100 is refunded and I'm charged another $29. At this point I am now negative $310 in my skrill account because for some reason the transfer did deposit those amounts and I already used it for 4-5 days. And my checking account is also negative at this time. And I'm not sure if it's even possible but I saw another transaction of the $210 with another refund and charged a fee. I know for a fact I didn't initiate that transaction.I just feel that its unfair. I feel that if I didn't have sufficient funds it should've declined as it did for other transactions. And not only that it was a good 4-5 days already and then it says i didn't have funds in my account. Especially when the transfer completed and I used the funds already.

  

  Business response

  09/20/2022

  ************* opened her membership with TopLine Financial Credit Union on May 31, 2022 and never made another deposit after the initial one.  The automatic payments to ********** were not set up through TopLine's bill pay service or through our Account to Account transfers.  By TopLine records it would have been set up by ************** directly with ********** and PayPal.  Once they have an account number the processing company can attempt debits/withdrawals at any time at their own discretion until their client/customer informs them otherwise.  The debiting company can make the funds available if they choose to based on their own policy.  That is not controlled by TopLine.

  
  When the first ********** debit was attempted on 7/25/22 her checking account was already overdrawn so it was returned unpaid by TopLine and charged a fee.  The same day ****** requested another debit/withdrawal which was also returned unpaid and charged a fee.  On 7/28/22 a debit/withdrawal attempt from Skrill was presented to Topline which was returned unpaid once again and charged a fee.  On 8/3/22 PayPal attempted a debit/withdrawal which was returned and charged.  

  
  No other activity occurred on this account until 8/31/22 when the account was charged off for being overdrawn.  ************** was mailed 2 Overdraft notices/letters along with her receiving her July 2022 statement documenting her balances and account activity.  

*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. ↩