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:09/29/2025

  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.

  On September 24, 2025, my brokerage account at ********************** was charged a Fall Escheatment Fee 2025 of $75.00 without prior notice or explanation. To cover this fee, the firm liquidated my stock positions and deducted the remaining cash balance. I did not authorize these actions and believe the fee itself is improper.When I opened this account, I was never informed that seasonal or escheatment fees could apply. Despite reviewing my account history and disclosures, I have found no reasonable justification for this charge. This is not an isolated incident in the past, Public has also charged similar unexplained fees to my sons accounts (*********** and ****** ****) simply because they did not log in frequently. They intended to leave their money invested to grow over time, but instead saw their accounts drained by what I view as bogus fees.I reached out to Publics support through the in-app chat and was told by a virtual assistant that my case would be escalated and I would receive a response the next morning. No follow-up ever came, and I was never able to reach a human representative to resolve the issue.Resolution Requested:I am requesting a full refund of the $75.00 fee, reversal of the forced sales connected to it, and closure of my account without penalty. I also ask the BBB to investigate whether Public is applying similar fees broadly to other customers, as this appears highly unusual for a brokerage firm and may reflect a larger pattern of improper charges.

  

  Business Response

  Date: 09/30/2025

  Hi ******, Thank you for reaching out. Your account went through escheatment. *********** is the right of a government to take ownership of estate assets or unclaimed property in the event that there are no heirs or beneficiaries. These rights can also be granted when assets are unclaimed for a prolonged period of time. This can happen in your Brokerage Account when there is a prolonged period without any activity in your account. The escheatment process is set up and executed by our clearing firm, and we can confirm our team was able to cancel the stock sale and refund the escheatment fee. If you have any questions, please let us know in the app or by email at *********************************

• Initial Complaint

  Date:09/23/2025

  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.

  I opened an account on ********************** August 25, 2025.I subsequently deposited $790,000 Completed Deposit August 28, 2025 $190,000.00 Completed Deposit August 27, 2025 $250,000.00 Completed Deposit August 26, 2025 $150,000.00 Completed Deposit August 25, 2025 $100,000.00 Completed Deposit August 25, 2025 $101,000.00 Over the next few days I started growing concerned the week after as the accounts kept showing $0 available for withdrawal even though the money was gone from my other HYSA from other institutions. The answers I got from customer service as well as the way it seemed that their brokerage service was really the main service and **** was not really a core service, made me feel more and more uneasy. Last week, I decided to close my account and move my money back to ****************I was told that I had to wait until the end of October before I could get my money.On September 19th, I received this support message:*****, the operations team wants us to wait until 10/28/25 for the next withdrawal. We will follow up with you then.**** from Member Support I replied and said I don't think that was right, then I got this response today:*****,We reserve the right to place a hold on funds that we believe to be high risk, as referenced in our brokerage account agreement. Additionally, we reserve the right to reject withdrawal requests upon review. We appreciate your understanding.**** from Member Support They did move $440,000 to my *************** last week, but are holding the remaining balance: $352,682.18 hostage.I would like to receive my money back.

  

  Business Response

  Date: 09/25/2025

  Hi *****, Thank you for reaching out. All accounts on **********************, including yours, are extraordinarily important to us. We reserve the right to put a 63 day hold on funds we believe are high risk being withdrawn if they are not going back to the original funding source, as referenced in our Brokerage Account Agreement.

  We have wired the funds back to you, that you indicated would go back to their original funding source. For the other deposits from different sources, we just need to wait 63 days from the original deposit date before they can be moved to a new bank. Your remaining funds are eligible to be withdrawn on October 28th. 

  If you have any questions, please reach out to us in the in-app *********** or by email at ********************************************************. 
  

  
  

  Customer Answer

  Date: 09/29/2025

  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:

  This is unacceptable.  Public.com had no issues receiving my funds immediately from different sources and using it.  The 63-day hold is not acceptable to me.  The money is just sitting there and not available to me.  I find Public.com's practices to be misleading and potentially fraudulent.  The money is cash, it was never invested in any brokerage.  I would imagine this to be illegal to hold on to someone's account.  My money is being held hostage and I respectfully request it be returned to me to my *************** account.  

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

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

• Initial Complaint

  Date:09/03/2025

  Type:Sales and Advertising 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.

  Public.com deposited my **** rollover check into a brokerage account instead of a **** account. I transferred it from the brokerage account to the **** account. Shortly after, I decided not to keep the rollover in Public due to problems with security, and I asked Fidelity, the original rollover account and issuer of the check, to stop the check. Public.com then took any remaining funds in my brokerage account, several hundred dollars. After several requests from me, they refused to allow me to transfer funds from my **** account back to the brokerage account to correct for the stopped check. Today, management started illegally buying and selling shares in my **** account when a stock in my **** account grew nearly 400% in one morning and replaced it with a much less valuable stock. The gains in the stock were removed from my **** account by **********. They are playing illegal games as retaliation for me keeping my funds with ********.

  Customer Answer

  Date: 09/04/2025

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********,

  A corporate (stock) merger took place as part of my portfolio, which explained the referenced problems   I am now awaiting the business to allow me access to my account so that I can withdraw my money, so that may need addressed in the future   

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

  
  

• Initial Complaint

  Date:08/27/2025

  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.

  I sent them $2500 for what I thought was crypto, they said they need to activate it but they took too long so I just try to withdraw it to my bank account. It wouldn't let me withdraw to my original payment method so I added a new bank account they wanted a bunch of documents they took forever to get back to me then they gave me the runaround several times I sent them all the documents they wanted and just kept giving me the runaround again and kept s******* up and because they took too long holding my money I filed a dispute with my bank but my bank hasn't credited me yet, I told them this but that I would drop the dispute if they refund my original payment method that if they don't trust my new bank account there's no reason they can't refund my original payment method in which case I will drop the dispute. Because of that they're refusing to help me while holding on to my money

  

  Business Response

  Date: 08/29/2025

  Hi ****** Thank you for reaching out. Since we're in a heavily regulated industry, we are required to verify bank account ownership on withdrawals. We kindly ask that you provide us with a photo of your valid government issued ID and proof of bank account ownership in the form of a recent bank statement. We have submitted a withdrawal to the bank account linked in your account. Standard withdrawals take 3-5 business days to arrive in your connected bank account from the date the withdrawal was initiated.

  Please let us know if you have any further questions via email at *********************************

• Initial Complaint

  Date:08/23/2025

  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.

  On May 28, 2025, I transferred my **** *** from Ally Invest to Public.com via ACAT. Since then, Public.com and its clearing partner **** have mishandled my account and failed to correct serious errors, despite repeated contact.Timeline:May 28, 2025 **** *** ACAT transfer completed. AGNC shares (*****+) were marked as sold at ****, then reappeared and were sold again at Public. This broke account continuity.June 10, 2025 Account incorrectly classified as a margin account, despite being a **** *** (cash-only by law). This caused a $13,849 margin call and misclassified my cash-secured puts as naked positions.JuneAugust 2025 Despite multiple secure messages, phone calls, and a formal complaint, Public.com has not corrected these errors. I was unable to trade properly and forced to rely on my brokerage account.August 2025 With no resolution, I filed for FINRA arbitration.Code ********************** rules A **** *** may not use or permit margin (26 U.S.C. 408). Public/Apex violated this by classifying the account as margin-enabled.FINRA Rule 2150 (Improper Use of ******************* or Funds) Mishandling and duplicate liquidation of **** shares.FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) Failure to act with fairness and integrity in handling retirement assets.SEC Customer Protection Rule ******** Failure to safeguard customer securities and properly segregate retirement account ************************************** mishandling of my **** *** since May 28th has placed my retirement savings at risk, created potential IRS/tax consequences, and denied me proper trading access. These are not minor service issues but systemic violations of securities regulations.I request correction of account errors, restitution of losses, and confirmation that my **** *** is restored to proper cash-only status.

  

  Business Response

  Date: 09/05/2025

  Dea* *** ***************** you for your patience while we reviewed your inquiry. Weve prepared the following summary of your discussions with our member support team and the events that occurred in your account.

  May 29, 2025: Our Firm received an incoming account transfer of a **** *** from *****************

  June 4, 2025: ***** shares of **** were sold for a total net of $13,830.84. The proceeds were used to purchase shares for assigned options on *****

  June 10, 2025: Our clearing firm, Apex Clearing, received indication from Ally that a pending limit order to sell ***** shares of **** executed on their books. This sale was subsequently transferred to Public via ACAT residual sweep, creating a short position for the shares already sold in the account, as well as inflated cash proceeds of $14,228.75.

  June 11, 2025: Our Firm requested our clearing agent cancel the trade that was transferred to us.

  June 16, 2025: Our support team recommended you reach out to Ally for further details of the transaction that occurred to result in them reporting to us the shares had been sold. Additionally, our Firm worked with our clearing agent to correct the account type the trade correction was posted as, **** had originally made the update to type 2, margin, however, your **** account is and always has been, Type 1, Cash. After much consultation with Apex, this was corrected on July 11.

  June 20, 2025: While awaiting confirmation of the completion trade rebill back to Ally, our support team notified you that any purchases with funds generated from the two sales of the **** position that caused the short would result in a debit balance on the account, which would need to be covered.

  July 3, 2025: While continuing to await the rebill of the trade from our clearing agent, support again reviewed with you what had occurred during your transfer. As explained, Ally failed to fully restrict your account during the processing of the outgoing transfer, and cancel any open orders, which in turn allowed you to sell shares that were marked to be delivered to our Firm. Our clearing agent then received indication the shares were sold, and the sell trade was transferred to our Firm as per the full outgoing transfer instructions. It was also suggested that you preemptively generate cash to cover any debit balance created from using the proceeds from the two sales.

  July 9, 2025: You indicated to our support team that the shares were pulled back from Ally and never should have appeared in your account with our Firm.

  July 24, 2025: Our clearing agent confirmed that the trade had been rebooked to Ally. This reversal caused the sold **** and ULTY 8/15 Put contracts you held in your account to no longer be collateralized, and the account in a maintenance call of $13,769.02.

  August 15: Compliance reiterated again that to keep the put contracts collateralized, you would need to free up the cash in your positions. We also indicated another option was to repurchase the puts, which were due to expire that day. The **** contracts were purchased to close, and the **** contracts expired, removing the maintenance call in the account.

  August 18: Our firm requested **** to restore the **** May 2025 dividend for $183.65 that was revered due to the short position. 

  August 29: The **** May dividend was restored to the account. 
  
  Please note, it is the delivering firms responsibility to ensure accounts marked for outgoing transfer are restricted for all activity, including trade orders, to ensure the transfer processes smoothly as instructed. When our Firm receives shares from another firm, we allow all assets to be traded based on the good faith that the shares have been transferred from the delivering firm accurately, and are free and clear.

  We again reiterate that your account was opened as, and always has been, a Cash account. Our procedures do not allow for ***'s to be opened as margin accounts. However, we would like to note that several of your positions with Ally were transferred to our firm as margin positions, which had to be corrected to a cash account type by our firm. These details are included in your account statements with our firm, as well as your statements with Ally.

  The Firm understands your frustration, however, unfortunately, the events that occurred were the result of a trade Ally allowed to remain on the books during and after the transfer process, and the margin account type of which your positions were transferred.
  

  
  

• Initial Complaint

  Date:08/19/2025

  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.

  Today, August 19th. you guys took $895 from my ********* There are also fraudulent transactions with my other checking account. Not sure what this is about and upon further review of my checking account transaction history there are more than 1 transaction withdrawal going to this company. Ive never done business with you guys before, never given you my account information. I believe my identity mightve been compromised and used to open an account on your service. I will be contacting my Bank about this unauthorized ACH DEBIT of $895 as well as the other transactions. You dont have permission to take anything from my account. I didnt authorize you!

  

  Business Response

  Date: 08/22/2025

  Hi ******, Thank you for reaching out and letting us know. Wed love to review your account and go over these transactions with you as soon as possible. Please reach out to us in the app or by email at ********************************* and well be happy to help. We look forward to hearing from you.

• Initial Complaint

  Date:08/19/2025

  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 am attempting to withdraw $1300 from this brokerage account. They have asked me verify my identity, but will stop asking for more verification. I have provided them 3 recent bank statements linked to my brokerage account, and another copy of my drivers license. Their response is to remove the withdrawal option from my account and keep the money.

  

  Business Response

  Date: 08/20/2025

  Hi ******, Thank you for reaching out. Since we're in a heavily regulated industry, we are required to verify bank account ownership on withdrawals. We kindly ask that you provide us with a photo of your valid government issued ID and proof of bank account ownership in the form of a recent bank statement. We have verified your documentation and the ability to withdraw has been enabled in your account. We appreciate your patience and cooperation. Please let us know if you have any questions in the in-app chat or by email at *********************************

• Initial Complaint

  Date:08/10/2025

  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.

  I have tried for over a week to close my account opened in 2022 and withdraw to small amount of money (approximately $150)I have there. I was told by customer support to provide proof of identity with my drivers license and name, address and phone number which I did. They keep asking for more and more today its a copy of my bank account. They tell me to close out I have to sell the few small stocks I have but they have blocked my ability to do that and wont lift it. I havent made any transactions since 2022. The told me I have to cash out any cash balance and I did that. I would like to close my account and obtain my $150

  

  Business Response

  Date: 08/14/2025

  Hi ******, Thank you for reaching out and letting us know. Since we're in a heavily regulated industry, we are required to verify bank account ownership on withdrawals. We kindly ask that you provide us with a photo of your valid government issued ID and proof of bank account ownership in the form of a recent bank statement. As soon as we receive this documentation, we can complete the verification process and release the funds. Please reach out to us in the app or by email at ******************************** with any questions.

  Customer Answer

  Date: 08/20/2025

  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:

  [Your Answer Here]

   Hello, there are no funds to release at this time as you have restricted my account so I cant sell the few pieces of stock I have.  You also had me already liquidate the small  balance I had and send it to my bank account and you didnt request bank information then so why now?  Whats different? I have already provide me you with the front and back of my state issued drivers license and you confirmed that and now you want the again?  This is more stall tactics to keep my money hoping Ill give up so you can keep it.

  ****** ********

   

   

   

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

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

  

  Business Response

  Date: 08/29/2025

  Hi ******, Thank you for your response. Our team unrestricted your account to allow you to sell your remaining shares and withdraw funds from those trades. You were able to withdraw those funds on August 27th, and we subsequently closed your account per your request. If you ever have any further questions, please reach out to us via email at *********************************

  Customer Answer

  Date: 09/10/2025

  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:07/30/2025

  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.

  I have a smaller account with ******************** this began in February .I noticed I couldnt buy stocks and couldnt withdraw my money they said to provide a copy of my bank statement something about anti laundering money. I said to them Im laundering $500? They said I had to provide them with copy of bank statement even they had my checking number as this was where I was transferring money .I went to the bank got a copy of my statement sent to where they said they answered back that wasnt sufficient it had my account number mine and my wifes name on the paper I sent them. They then told me it wasnt good enough it didnt have the banks seal..I did have $510.when I recently checked it was 491. This company is owned by the employees just give me my money back and we can be done I use other investment firms never asked for this info

  

  Business Response

  Date: 08/01/2025

  Hi *****, Thank you for reaching out. Since we're in a heavily regulated industry, we require members to have a verified bank connection before withdrawing funds. In situations where we cant verify your bank account, we kindly ask that you provide us with a photo of your valid government issued ID and proof of bank account ownership in the form of a recent bank statement. As soon as we receive this documentation, we can complete the verification process. 

  We will be on the lookout for your documentation. If you have any questions or concerns, please reach out to us in the apps *********** or by emailing us a *********************************

• Initial Complaint

  Date:07/30/2025

  Type:Product 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.

  I can't access my account - it has indicated that I had invalid credentials (but I do have the correct password because I use a PW app); I tried forgot password multiple times and have not been successful in accessing my account. ********************** has no telephone customer support. I have reached out using "Help" online and the response was I was going to be transferred to another department, but then nothing. I contacted them through email and have not received a response. I have never had issues with this account. I asked my husband to access his account, and he does not have any issues. I am very concerned that I am unable to access my account and there is nobody to reach out to for help.

  Customer Answer

  Date: 07/31/2025

  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,
  
  ****** ***