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:02/05/2025

  Type:Billing Issues
  Status:

  ResolvedMore 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.

  In June 2024, Raisin embued themselves with the rights to open another account under ********************************. I did not authorize this action. I'm told they sent an email communicating this to their customers. I did not get the email, it probably went to my spam and was deleted. I found out in July 2024 and told them to close the said account. In August 2024, they had not closed the account. So I started closing my banking relationship with Raisin. Due to interest accrual, it took several months to complete this, as each time I thought it was completed I got another statement indicating interest was still earned and added as cash in the accounts. This finally concluded in October 2024. At this point, I was told my accounts with ********************** were now closed. I gained access to their online platform today to download my 1099-INT tax form and discovered the cash account with ******************************** is still active. They tell me, they do not have relationship with this bank and its just a feature with Raisin that they have no control over and cannot close. I sent them another email today asking for my entire relationship with Raisin to be terminated. As an ex-banker and auditor, I know it is fraudulent to open accounts in other people's name without authorization. I just want Raisin to terminate my account and close all banking products they have or had under my name. Please help me resolve this.

  Business Response

  Date: 02/19/2025

  Dear *** ****************** you for bringing your concerns to our attention through the Better Business Bureau complaint process. We appreciate the opportunity to address your experience with our company.

  On June 24, 2024, Raisin implemented the ************************ & Trust account as an intermediary hub to streamline transfers within our platform.

  Prior to this change, on June 14, 2024, we notified you of the upcoming changes and provided an option to opt out. This communication included a 'learn more' link to our updated Terms and Conditions, which outlined that new deposits would be subject to this newly implemented account.

  Our records indicate that you opened this communication on the same day it was sent, and as we did not receive a request to opt out, your account was affected by this update.

  According to our records, you contacted our customer service team on November 23, 2024, to request an account closure. Our support team successfully closed your ********************* account and deactivated your online access as requested.

  On February 4, 2025, you contacted customer support to request access to the ******** document, which had been sent to your online portal. To facilitate this, our customer service team reinstated your account access, at which time you discovered the Cash Account that had been opened and generating statements since your previous request.

  As of February 17, 2025, the ************************ & Trust account has been officially closed, and our business relationship has ended per your request.

  Should you have any further questions or require additional assistance, please do not hesitate to contact our customer service team.

  Customer Answer

  Date: 02/24/2025

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  ******* *****
  
  
  
   
  
  

• Initial Complaint

  Date:08/06/2024

  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 need to update my external account i cannot find where to do that on the website or app.I will appreciate any instructions on how to successfully update New External Account and delete the old one

  Business Response

  Date: 08/06/2024

  Dear **********, Thank you for bringing your concerns to our attention through the Better Business Bureau complaint process. We appreciate the opportunity to address your experience with our company. After a comprehensive review of your case, our records show that you contacted customer support on August 3, 2024, regarding your request to update the external account currently linked. Our team informed you that Raisin's current policy permits customers to link only one account within our marketplace. After making your initial deposit, you can change the linked account after 60 days. In your situation, your initial deposit was made on July 29, 2024, which means you will be eligible to update your external linked account on August 28, 2024. There is an exception to this rule if your external account has been closed. If this applies to you, please provide documentation proving the closure of the currently linked account, or you may initiate a transfer to your external account. If the transfer returns with the code R02 indicating a closed account, we will assist you in updating your referenced account.  We appreciate your understanding and cooperation with our policy. Thank you for choosing Raisin for your savings needs. Please do not hesitate to contact our **************** team if we can provide any further assistance.
  
  

  Customer Answer

  Date: 08/08/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  I was asked to send a proof that my account was locked, and i did; i  sent them a copy of the "Account Closure Letter" i received from my bank.

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

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

  Business Response

  Date: 08/20/2024

  Dear **********, Thank you for your response to our Better Business Bureau communication dated August 16, 2024. We appreciate the opportunity to re-address your concerns. Upon further examination of your account history, we can confirm that on August 9, 2024, you contacted Raisin **************** and provided a Bank Verification Letter regarding the closure of your account. On that same day, we requested you to complete an identity verification process, which you successfully completed. Additionally, we would like to inform you that on August 20, 2024, we successfully processed your request to update the externally linked bank account associated with your file. We appreciate your understanding and cooperation with our policy. Thank you for choosing Raisin for your savings needs. Please do not hesitate to contact our **************** team if we can provide any further assistance.
  
  

• Initial Complaint

  Date:07/23/2024

  Type:Customer Service 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 started a sizeable 12-month CD with Raisin in summer 2023. I just checked my account because I had not heard any updates. Raisin shows that the full amount was auto-renewed for another 12 months without any confirmation with me. Raisin's claim is that they stated that CDs will auto-renew and emailed prior to the due date. First, there should not be an auto-renew on a full-year CD of this size. If it's 1 or 3-month, it makes sense to auto-renew, but on a 12-month CD, customers shouldn't be "auto-forced" to renew. Also, when I opened the account, there was never an option that I can cancel the auto-renewal function because Raisin can't receive any deposits themselves. If it's with any established banks, they would deposit the funds to checking/savings accounts on the due date. But Raisin doesn't offer cash deposit accounts when I opened the CD, so the hosting banks have to auto-renew because they have nowhere to refund. This is a classic act of scamming people for penalty fees by setting up your platform in a way that disadvantages people and forces people automatically enter into an agreement.Second, when I opened the CD, the customer services were never available over the phone. I tried to call them several times about what will happen to the funds after the due date and left voicemail but never heard from them.Lastly, customer services now say that there is nothing they can do. When asked how is the penalty fee calculated, they said that it's system generated and they don't know, which is another evidence of lack of business ethics - how can you charge people without being able to explain the charge! They refuse to help advocate for customers. They refuse to help figure out if penalty fees can be adjusted if we change the duration instead of cancelling. They refused to help with anything but they do claim that they help you save. I thought I was helping an evolving FinTech startup. It turns out that this is another episode of businesses scamming people.

  Business Response

  Date: 07/25/2024

  Dear ************, 

  
  Thank you for bringing your concerns to our attention through the Better Business Bureau complaint process. We appreciate the opportunity to address your experience with our company.

  
  Our records show that on July 22, 2024, you contacted our customer service team to request waiving the early termination fee for your recently matured certificate of deposit (CD). As explained at the time, we were unable to make an exception since the seven-day grace ****** following your CD's July 6, 2024 maturity date had passed. During this conversation, you request to speak with a member of our leadership team. The same day, a manager reached out to review Raisins automated notification process for certificate of deposit (CD) maturities, which includes alerts 30 days and 24 hours before maturity, as well as a follow-up notice the day after. We also highlighted that Raisin provides a seven day grace ****** after the maturity date during which you can cancel your CD without penalty. Given that the CD maturity date occurred two weeks prior, we informed you that we were unable to waive the early termination fee or modify the terms of the newly rolled-over CD. 

  Kindly be informed that our Terms of Service contain essential information, which can be accessed at Raisin.com. We would like to specifically highlight section 5 Additional Terms Relating to Product Banks and Offers.: 

  CDs are time deposits in which you deposit funds and agree to leave those funds on deposit for the duration of the term of the CD, which will be specified in the applicable Offer. The end of the term of a CD is commonly referred to as its maturity date. Your initial deposit to a CD will be the principal value of the CD. If you withdraw any funds from a CD prior to its maturity date, you may be subject to a penalty, which will be set forth in the applicable Offer terms. Prior to the
  maturity date for a CD in which you have made a deposit, we will give you notice telling you the maturity date. 

  If the Offer terms of your CD provide that the CD will automatically renew, our notice will give you information about the terms of the renewal CD. If you do not wish to renew the CD, or, to the extent permitted, wish to withdraw a portion of the funds from the CD on its maturity date, prior to the maturity date you must request a withdrawal, which will be effective on the maturity date. Any amounts that you do not withdraw will be deposited in the renewed CD at the terms applicable on the date of renewal. 

  Please be advised that it is the responsibility of our customers to manage their certificates of deposit and to make any necessary adjustments prior to maturity or within the seven-day grace ******. Please do not hesitate to contact our customer service team if you have any further questions or require additional assistance. 
  

  
  

• Initial Complaint

  Date:07/02/2024

  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.

  Raisin Online Banking issues I have been trying to move money out of the accounts and apps and web site getting errors. Trying to call customer service and no call back or cant get through to anyone.

  Business Response

  Date: 07/08/2024

  Dear ****************, 

  
  Thank you for bringing your concerns to our attention through the Better Business Bureau complaint process. We appreciate the opportunity to address your experience with our company.
  Our records show that you contacted our customer service team on July 2, 2024, reporting difficulties with fund transfers via both our mobile app and website. At that time, we informed you that this was a known issue our technical team was actively addressing.  On July 4, 2024, we responded via email to inform you that the issue has been resolved. Your subsequent email inquiry has been processed, and we can verify that your transactions have been successfully completed. 

  Please do not hesitate to contact our customer service team if you have any further questions or require additional assistance.
  

  
  

  Customer Answer

  Date: 07/10/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  Yes, they did contact me but the issue is still not fixed on the raisin app. It does not allow you to transfer your funds out unless you access via web browser and everything works slow. Kind of scary when a company that is holding a good amount of your money to be having issues like this.

   

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

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

  Business Response

  Date: 07/10/2024

  Dear ****************,
  Thank you for your follow-up regarding your original request. We value the opportunity to address your concerns further. Our customer service team responded to your initial inquiry on July 5, 2024, via incident #******. We provided information about the error resolution by Raisin and requested your confirmation that all issues have been addressed. As we haven't received a response from you since then, we wanted to ensure that you're satisfied with the resolution. If you're still experiencing any issues or have additional concerns, please reply to our previous communication at your earliest convenience. Our customer service team remains available to assist you with any questions or further support you may need. We appreciate your patience and look forward to hearing from you if any matters remain unresolved.
  

• Initial Complaint

  Date:06/12/2024

  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.

  Raisin would not let me change my linked bank account in a secure manner. They wanted me to send sensitive information over insecure ways. I asked them to close my account and mail my check, as my linked account is closed and I have no access to the money. They closed the account and told me they dont mail checks. Now $500 is lost and was stolen. Its theft happening here at a fake bank.

  Business Response

  Date: 06/13/2024

  Dear ****************, 

  
  Thank you for bringing your concerns to our attention through the Better Business Bureau complaint process. We appreciate the opportunity to address your experience with our company.

  
  Upon a thorough review of this matter, our records indicate that on April 24, 2024, you submitted a request to update your externally linked bank account. Our customer service team responded with the necessary steps to process your request. You declined to provide the requested information, resulting in no change to your account.

  
  Between April 25 and June 11, 2024, you communicated numerous times with duplicate requests to update your account information and to close your account. Our customer service team responded on June 11, 2024 to inform you that we have successfully processed your request to close your account and to allow three business days for the funds to be transferred to your externally linked bank account.

  
  Subsequently, you advised our customer service team that your external account link is closed. Please note that to date, we have not received the required information from your end to facilitate the transfer of funds.

  
  If the external bank account is closed, the funds will be rejected and returned to Raisin. To re-attempt the transfer of funds to a new account, we will require the following: (1) The account and routing number of the new bank account (2) A voided check or bank statement for account ownership verification and (3) Completion of an identity verification check. Should you choose not to follow the outlined steps, we will not be able to proceed with transferring the funds at this time. We remain committed to resolving this matter and assisting you with the closure of your account.

  
  Please do not hesitate to contact our customer service team if you have any further questions or require additional assistance.
  

  
  

• Initial Complaint

  Date:06/07/2024

  Type:Product 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.

  Today is June 6th 2024. I have a 2sizable cds with raisin that mature Tomorrow, June 7th. I have never Had an issue logging into my account Until yesterday and never changed my password. As of yesterday, I get a message saying my account is locked And can only be open by an administrator ( how strange!). I keep Emailing them through their support Site and no response. There is no contact number. I really need to have this money available tomorrow as I am planning to purchase a condominium. Please help

  Business Response

  Date: 06/10/2024

  Dear *******************, 

  
  Thank you for bringing your concerns to our attention through the Better Business Bureau complaint process regarding your experience with our company. We appreciate the opportunity to review and address this matter.

  
  Upon thorough examination of this matter, our records indicate the following sequence of events. On Thursday, June 6, 2024, you reached out to our customer service support team claiming your account was locked. Our team immediately responded that your account had been successfully unlocked and provided instructions for resetting your password via a separate email from Okta.

  
  On Saturday, June 8, 2024, you contacted customer service twice reporting that your account was locked again. Please note that our customer service hours are Monday through Friday.

  
  On Monday, June 10, 2024, a representative unlocked your account again and attempted to call you at the number on file, but was unsuccessful.

  
  The Raisin contact information, including email address, phone number, and hours of operation, is listed on our website at www.raisin.com. Should you need further assistance, please respond to our previous communications or give us a direct call at **************. We value your business and aim to provide excellent service.

  
  

• Initial Complaint

  Date:03/19/2024

  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 opened a CD with Raisin , I didn't understand they were a third party broker , not clear on there Website. I have not received any Documents at all , I can't lodge in to my account , I was told they mail me documents , they never did then I'm told they do nothing at all by mail. I called the bank they said the placed the CD with and they won't verify anything and told me to contact Raisin . Raisin when I asked for documents they emailed me after they had the wrong email one I never entered a boiler plate page with general information . No names or account information at all a general statement any one could send . They said the don't use account numbers or anything . I called many times and emailed 20 times I get no information just run around. I still can't even lodge in to a account of any kind . I'm extremely upset and feel I need to go to Police , I made reports before and the BBB has never done anything ever at all to help in any way maybe the BBB should also be reported as just a information spreader. A place to vent not to ever get help from that's for sure. DONT EVER USE RASIN AND DONT BOTHER TO GET ANY HELP FROM THE BBB

  Business Response

  Date: 03/27/2024

  A manager reviewed this customer's concerns.

  First we want to clarify that Raisin is in no way a broker. We are a savings marketplace where customers make their own decisions about their deposit choices. We do not offer advice and do not direct customer deposits in any way.

  Customers can access their statements online at any time by visiting ********** and logging into their account.  Our customer purchased a CD in February and would have had access to their first statement by March 1st.

  Numerous managers have reached out to the customer by phone and email to help address the customer's login issue.  We have not yet been able to reach them.

  We pride ourselves on giving customers great choices and being easy to use.  It would be our pleasure to help this customer regain access to their account so that they can continue enjoying the benefits of the Raisin marketplace.

• Initial Complaint

  Date:03/06/2024

  Type:Product 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.

  2/27/2024 CD renewal in excess of $100,00.00., requested funds to be transferred to Discover online bank account, contacted ********************** online. received no correspondence or verification. contacted Raisin on 3/4/2024 and was informed CD was renewed at a rate I did not agree to, representative stated that account still covered by a seven day window for changes to be made, then informed us window for change closed at 1:30 pm of 3/4/2024 and closed communications I want my funds returned to be made whole monetarily

  Business Response

  Date: 03/14/2024

  A manager reviewed our customer's concerns.

  When our customer purchased their CD, the terms of the purchase (attached) state that "The term will automatically renew at maturity. You can elect to pay-out and close your Certificate by logging into your account prior to the maturity date." The document also states that "CDs that are renewed at maturity can be cancelled within 7 days of opening without early withdrawal penalty."

  Unfortunately, our customer had 12 months during which they could have chosen to have the CD not rollover into a new CD at maturity.  They did not make this choice either on the Raisin website or with help from the customer service team.

  Our customer received a reminder email that their CD was maturing with 30 days notice prior to maturity.

  Even after the CD matured on February 27th, our customer could have requested a cancelation within 7 days. They did not make this request prior to our system cutoff.

  While we understand that the customer is unhappy with the outcome, our research confirms that Raisin met the terms shared with the customer in writing and gave the customer ample notice and opportunity to make a different choice.

  Customer Answer

  Date: 03/14/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  I contacted ****** on 2/27/24 and filled out the necessary paperwork on line to not renew the CD.  I verified the account routing and bank number and entered the information.  I waited until 3/4 to call as I assumed the transfer would take 7-10 business days.  I called on 3/4 and spoke with ****** who said I was in the grace ****** to not end the CD without a penalty.  She said she made out a ticket to the Support Team and they would get back to me.  Their response was that I had gone past the cut off time of 1:30pm.  No where in the conversation with ****** was this ever mentioned.  The CD is now active with a maturity date of 2/24/25 which I did not authorize.  I would like this money placed in my bank account which ********************** has on file.  Their answer is totally unacceptable as I did my part to end the CD and they ignored it.

   

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

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

  Business Response

  Date: 03/27/2024

  After a review of this customer's case by three different managers on the team, we could find no evidence that supports what our customer asserted in his rejection of our response.

  That being said, we hold each and every one of our customers in high regard and want to show our willingness to offer some help in this situation.  A manager will be in touch with the customer to discuss options to this effect.

• Initial Complaint

  Date:02/26/2024

  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.

  Called Rasin to transfer my savings account to another bank . When I called the bank they had no record of my account. I did as advised by Raisin customer service. All I want is my money transfer to my *** savings account.

  Business Response

  Date: 02/29/2024

  A manager reviewed this customer's concerns.

  It appears that the customer accidentally made a deposit when they meant to withdraw.  The deposit created in error resulted in an ACH return.  This return cleared and the funds were credited back to the customer's linked bank account.

  Our customer's subsequent withdrawal has also since cleared.

  Since the marketplace worked as intended and all of the customer's funds have been moved as requested, we consider this matter closed.

• Initial Complaint

  Date:02/21/2024

  Type:Billing Issues
  Status:

  ResolvedMore 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.

  The system is difficult to deal with, the transfers take too long, and the fact that 1. I can only have one checking account associated with it and 2. They make it exceedingly difficult to change that checking account is incredibly frustrating. I already withdrew my money from the accounts and I want to close them. I dont want two vague savings accounts that have no traceable account numbers with the actual banks sitting around with no money in them dormant. Theres nowhere on the site or app to close the accounts.

  Business Response

  Date: 02/29/2024

  A manager reviewed this customer's review of the ********************** marketplace.

  We were sorry to see that our customer found us difficult to use.  We have made consistent improvements to our user interface over time and will continue to do so in order to best serve our customers.

  As for the customer's accounts, they are closed.  We apologize for any confusion during the processing of their request.

  Customer Answer

  Date: 03/02/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  *********************