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:11/01/2024

  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.

  Strata Trust is/was the administrator for my **** consisting of gold. Around the end of September, I liquidated the gold with the funds on deposit at Strata Trust in Waco. They were to roll it over to my *** at **********. I filled out Strata's forms and they were to send the funds to ****** There was a problem with Stratas submission and ***** refused the deposit. Strata did not even bother to notify me. I called ***** ******** informed me that the rollover from Strata was incorrect, and that they had returned the deposit to Strata. I completed the ***** form and sent it to Strata to accompany the deposit on or about October ******. Strata said the money would be in my ***** account within 3-5 days. That is now nearly 4 weeks ago and they still have not sent my $14,400. Not only that, they do not answer nor return my daily calls. My account is closed and ********************** has gone silent.

  Business Response

  Date: 11/12/2024

  November 12, 2024
  
  RE: Better Business Bureau Complaint #********
  
  We have been working with ********** regarding the 10/18/2024 distribution, changed to transfer, then changed back to distribution mentioned in the complaint since 11/5/2024 when our ************** Manager, ******* *., spoke with him, and acknowledged our receipt of the complaint made on 11/1/2024. She provided options to move forward. 
  
  Later after speaking with his new custodian, he called ******* back stating he would complete their paperwork for a full transfer out.  As a courtesy,******* refunded the initial $35 *** return fee for the *** deposit refused by his bank.
  
  11/11/2024 ******* called ********** again to see if he had an update on the progress of the forms he was filling out.  He verified that he was completing the paperwork and would be sent out that day.
  
  Once we receive the paperwork from the new custodian, we will close out Mr. ******** account.
  
  Sincerely,
  
  ****** *********
  
  ****** *********, Compliance Manager
  ********************************************************************************************************************************
  ************

  Customer Answer

  Date: 11/13/2024

  Complaint: 22498460
  
  I am rejecting this response because:  The first paragraph of their response is fiction.  My first communication with them stipulated it was a rollover.  Strata sent the rollover to my *** at ********** as a contribution, which was sent back to Strata because the staff at ***** is knowledgeable enough to know that it was too large an amount to be a contribution.  The back and forth of Contribution/Rollover was only due to Strata submitting it as a contribution rather than a rollover as I had originally and continulusly indicated.  Not only had I asked for a rollover in my instructions, they sent me distribution forms dating back to 10/1/24--NOT 11/4 as they would like believe.  Furthermore,an *** ********* should be knowledgeable enough to know that $14,000 is too much for a contribution.  This 1. not following my instruction, 2. their lack of knowledge of their own business, and 3. their inaccessibility and unresponsiveness has caused a 3-4 day turn-around to still be unresolved SIX WEEKS later.
  
  Regards,
  
  ****** *******

  Business Response

  Date: 11/21/2024

  ****** MICHALK 
  PO BOX 154 
  ***********************;
  
  November 21, 2024 
  
  RE: Better Business Bureau Complaint #******** 
  
  STRATA stands firm on the timeline and details of these events.  We have strict protocols in place for notation of account activities.  These have been thoroughly investigated. 

  
  We received paperwork from Mr. ******* on 11/18/2024.  On 11/19/2024 a check for $14,195.30 was sent ***** to Mr. ******** new custodian.  Tracking information shows it arrived today, 11/21/2024. 

  
  Mr. ******** account at ********************** is officially closed. 

  
  Sincerely, 
  
  ****** Carpenter 
  
  ****** *********, Compliance Manager 
  ******************************************************************************************************************************** 
  ************ 
  

  
  

• Initial Complaint

  Date:05/06/2024

  Type:Service or Repair 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 or about 11/8/2023 I requested that STRATA trust transfer my brokerage assets to another custodian. They requested additional information which I provided. Since then I have sent paperwork 3 more times requesting brokerage assets be transferred. Jan 11th, March 14th and April 2nd. I received an e-mail from STRATA stating "your transfer out request is complete" on April 10/2024. I was charged $100 for this service. However the transfer never took place. The assets are still at Tradestation brokerage. I reached out to Tradestation and was informed that the last communication they had with STRATA on this was on 11/8/23. ******* also stated no release letter was ever received from STRATA which is required to transfer the funds. I feel that STRATA trust has no intention of making this transfer and I have lost control of my property and STRATA has hijacked it. This is tantamount to theft. I also see several complaints against STARTA here that are similar to mine. I very much appreciate any help you can provide to resolve this.

  Business Response

  Date: 05/13/2024

  05/13/2024

  In response to Mr. ******** BBB complaint on 05/06/2024, STRATA Trust Company would like to convey its appreciation to ****************** for pointing out to STRATA, that his client experience was not what STRATA strives to achieve when supporting our clients.

  His continued interaction and involvement, the past few days, working directly with STRATAs Client Experience Manager, *********************, is greatly appreciated.  It is my hope that ****************** better understands our relationships with third parties and our goal to provide him with a satisfactory experience.  As such, STRATA has refunded Mr. ******** $100 as requested.

  Using the information provided by ******************, and our own investigation results, I am confident that our client experience process, while time-consuming by nature, will be notably improved.

  *********************, Compliance Manager

  
  

  Customer Answer

  Date: 05/18/2024

  Complaint: 21671539
  
  At this time I am waiting for a response to a request I made to STRATA representative *************************. I had to choose to reject the response to keep it open. It was about to time out. Over the course of the 6 months that this transfer took place a conservative estimate of my time spent trying to accomplish this is about 20 hrs. on multiple calls to Tradestation, STRATA trust and Vanguard. During this time I have exercised patience and civility. The above response from STRATA seems to imply that my expectations were less than that. As stated earlier I am waiting for a reply by phone from STRATA and will close the case after that.
  
  Regards,
  
  *************************

  Business Response

  Date: 05/24/2024

  05/24/24

  We understand ********************** concern and reasoning for keeping this case open.

  *********************,CM

  Customer Answer

  Date: 05/24/2024

  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.               I 

  I appreciate that STRATA moved quickly and decisively to rectify my concern. 

  
  Regards,
  
  *************************

• Initial Complaint

  Date:03/13/2024

  Type:Service or Repair 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.

  Strata was a custodian for my *************** account# ending in 5857 with the LendingClub notes. I recently got it transferred it to Vanguard. During the transfer process, Strata closed the account and deducted $250 towards Account closure service fee when it was supposed to be discounted amount of $150 for LendingClub customers. Strata even stated the same on this platform in their responses to several other customer complaints. For some, they ended up refunding $250. All I'm asking is to honor LendingClub agreement and charge only $150 for Account closing and refund $100 to my account with Vanguard. When I contacted Strata's customer service on 3/12/2024, the rep said the fees was increased to $250 to everyone. But, I never received such notice and they should honor the original agreement with LendingClub.

  Business Response

  Date: 03/18/2024

  Please view the attached response letter from STRATA Trust Company.

  Customer Answer

  Date: 03/24/2024

  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.
  
  Regards,
  
  *********************************

• Initial Complaint

  Date:12/26/2023

  Type:Service or Repair 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 put retirement money in birch gold through strata trust as way to save for retirement about 5 years ago .I have been trying to get my money for over 3 months and there is always a problem.I want to have it put on record and hopefully get my money

  Business Response

  Date: 12/29/2023

  Dear ***************************,
  
  Thank you for bringing this to our attention, *****. We are sorry for any inconvenience that you have experienced with STRATA. In reviewing the account, we received the original IRA ************ request via mail on October 23, 2023. STRATA reached out the same day via email to ensure a liquidation order was in process with the precious metals dealer and that we would need to obtain a verbal for the *** distribution that ******************** initially requested.
  
  On October 24, 2023, ******************** called in so we could obtain the verbal for the distribution, but during that time, there needed to be banking information, and ******************** decided to call STRATA back. The following day, STRATA reached out due to the In-Kind Shipment of metals to see if the liquidation order was in process. On November 6, ******************** called back STRATA and decided not to have a liquidation and to take full possession of all the precious metals within the account. ********************** then canceled this distribution, per the request of ********************, and needed a new form.
  
  November 14, 2023, ******************** called back into STRATA for a follow-up and then decided to go with a complete liquidation instead, and he was going to reach back out to his dealer. On December 4, 2023, STRATA received a signed Account Designated Representative to add Birch Gold to his account so he can proceed with the liquidation. On December 11, 2023, STRATA received the liquidation orders from Birch Gold, which are all in good order. The metals were moved from the depository per the orders, and we received the verbal verification for the *** on a recorded call on December 13, 2023, for *********************** distribution request. Following, STRATA received the updated ************ request form. On December 15, 2023, STRATA received funds from Birch on behalf of ******************** from ***** Gold, and the *** was processed by STRATA on December 18th and returned by the receiving bank on the 21st due to "unable to locate the account."
  
  On December 26, 2023, ******************** provided STRATA with Wire instructions for his receiving institution, and STRATA agreed to waive the wire fee, and we processed the wire. The following day, the wire was also rejected due to "unable to locate beneficiary account." After speaking with ******************** on December 27, 2023, we got his receiving institution on the line and confirmed the full wire instructions. The same day,we released another wire for ******************** and waived any return fee charges as a courtesy. On December 29, 2023, once more, we received another wire rejection from his receiving institution as "unable to locate the account." In speaking with ******************** today, we both decided that in his best interest and for a better client experience from STRATA, we will send funds to ******************** via check. As a courtesy and for all the trouble we have encountered with the *** and wires, we will send the check via Fed Ex for ******************** so we can track the funds on his behalf. We will supply ******************** with the tracking number today, which is ***** tracking ************ and close this out once the funds are received.
  
  Attached are the documents we have received on his behalf.
  The original ************ Request that ******************** canceled.
  Account Representative Designation Request for Birch Gold
  Birch Gold Liquidation orders
  Final ************ Request Form
  
  ******************** has my contact information if he has any questions. Please let us know if there are any other questions due to the process for *********************
  
  Thank you,
  *********************
  Client Services Manager

  Customer Answer

  Date: 01/07/2024

  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.
  
  Regards,
  
  ***************************

• Initial Complaint

  Date:06/14/2023

  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 sold my Gold and Silver in my *** to Midas Gold. ***** tells me they issued an ACH to STRATA Trust on Thursday June 8, 2023. STRATA cannot find this transaction and refuse to research ACH's received on that day. ***** has provided them with proof it is to be applied to me, but they refuse to pay me my money, and certainly won't give me credit as of June 8. I deserve my cash PLUS interest. I would at least like my cash immediately.

  Customer Answer

  Date: 06/14/2023

  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. 
  
  Regards,
  
  *************************

• Initial Complaint

  Date:06/09/2023

  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.

  Beware!!! Strata Trust was the custodian of my self-directed *** precious metals account. After 3 years of poor customer service and lack of follow-up I decided to move some of my *** holdings to another trust. A big deal! It began several years ago when I purchased additional coins. To get these coins into the Brinks vault and onto my *** account I had to complete paperwork. One of the questions: Segregated or, Commingled storage? I attempted to check the checkbox for segregated but the form-field for that box was missing. I called Strata and was told that it was not an option to segregate silver at the Brinks facility. I told them I would be willing to pay extra but was told for silver, segregation wasn't an option. I then relayed my concerns about commingled storage. I was afraid the coins that I was paying a premium would get mixed with others. I was assured that I had my own "area" and that would not be a problem. I went further and called ****** and spoke with an individual who assured me of the same. Fast forward, I closed my Strata account in April and moved my holdings to another Trust. Guess what? My new depository was shipped coins less valuable than the ones I purchased. And at least one coin is damaged. Strata now claims that I knew this would be the case. YEAH, RIGHT! I purchased specific coins and paid the extra money so I could take a chance on getting screwed. Lose money, and lots of it! This is the same attitude they presented when I attempted to move some of my holdings to another depository because I became leery of them. It took two months and 10 to 12 phone calls. Hours on the phone with Strata to get them to do their jobs. Only after threatening BBB and Trust Pilot reviews did the move happen. That's when I started looking for another trust. Trust Strata NOT! Inept or something more??? Also, I am not sure what is happening at Brinks. Constant complaints about backlogs. All I want is what I purchased and ENTRUSTED to them.

  Business Response

  Date: 06/16/2023

   

  ********,

  Thank you for providing your feedback regarding your experience with STRATA Trust Company and taking the time to speak with me last week. We appreciate the opportunity to address your concerns. I have read your review and am sorry to hear that your experience with STRATA did not meet, or surpass, your expectations. As a brief recap of our conversation, STRATA Trust Company (STRATA) is a wholly owned subsidiary of ************ and serves only in the capacity of a self-directed *** ********** This means that all accounts are self-directed by the account owner, and ********************** acts only upon the clients instructions. As you have mentioned below, STRATA required you to complete our ************************** direction form for each of your purchases that were completed within your STRATA ****  We outline, to all clients, within our precious metals investment direction form that silver coins are only held in commingled/non-segregated storage. When the client makes this written election on our form, it authorizes STRATA to open a commingled/non-segregated storage account with the selected depository. A commingled/non-segregated storage election indicates that the client is aware that the silver purchased within the requested transaction will be stored with silver purchased by other STRATA *** accountholders within the designated area at the elected depository. In addition, ****** has confirmed that the silver coins purchased were stored within the commingled/non-segregated account at their depository as requested. The gold coin purchases, in the Brinks depository were segregated as requested by the client. Please see attached completed investment direction forms completed and signed.
  
  Confirming here as well that your previous issue regarding the account transfer out process was successfully resolved.
  
  As a courtesy, I have included a link to our Get To Know Your Custodian guide for additional information regarding our role as the *** ********** including some of the services we provide to you as the custodian of this *** account. I am also including a link to the Precious Metals *** ********** for reference. 

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

• Initial Complaint

  Date:03/06/2023

  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.

  This is a complaint against Strata Trust company for the 150$ fee deducted from my *** ******* for transfer of my *** funds to Vanguard. I had called lending club in Dec 2022 with regarding to my *** funds with them as they had stopped offering their platform to investor for peer to peer notes. When i asked for them to transfer my funds out of their platform they told me since this was a retirement account it has to be done directly with the their custodian Strata Trust company (I was initially surprised to see my lending club account was not moved to the diff custodian Alto as i had selected back in 2021 based on the email i received from lending club). Anyways as per their instructions i contacted Strata to transfer my *** funds out. Strata gave me diff options of transferring my funds out using direct transfer to me which included filling up forms on their end and fees and another free option of contacting any other custodian and rollover the the funds to them. When i choose the second option they told me i need to do all the paperwork with my other custodian vanguard (in this case). I contacted Vanguard and completed the required forms. before providing them authorization i checked with Vanguard on any fees etc with regards to this option which i had chosen with them Vanguard informed me there were no fees on their side but for any other fees i need to contract Strata since the form only had a blanket statement in there and could not be changed as the forms are standard and cannot be customized per client. So I contacted Strata and spoke to one of client service associates over multiple calls on 01/23/23 and 01/24/23 and asked to clarify multiple times on some process issues (eg they dont specify how exactly funds were exactly being sent) and there are no fees on the transfer form which i was very concerned about from the start. Each time during the call i checked on fees and the total ******* of the transfer ********* received from lending club .During this time i was notified about a 50$ late charge made to account without my knowledge by Strata which the agent helped fix after multiple back and forth. Post that again i confirmed multiple times about the final amount that would be transferred to Vanguard and no other fees would be deducted and it was confirmed the amount would be $********* after checking multiple times on recorded calls However this is not what happened, Starta Trust company deducted 150$ frm my *** funds before transferring After finding this out when i complained they totally ignored all communication by their licensed agent over the phone and started to hide behind the fine print in their disclosures . After reviewing the disclosures i found out that the fee was far less than 150$ when i initially signed up (only 100$). Not only that i also found out that as per the disclosures of *** ******** form - fees and payment policy clearly states that if there are any fees encountered by the customer on his account ********************** needs to provide me notify of those fees before any charges and option to pay it using diff payment methods . They never sent any such notice to me by mail/email for the 150$ they were going to deduct from my account . Infact they informed me just the opposite of that during the transfer process and kept me blind sighted about the fees they were planning to bill to my account. Email attached as proof clearly show the agent apologizing of not informing me about the fees multiple times over 2 days of calls over multiple confirmations on recorded calls Further more for 2+ years Strata Trust company has been categorizing my cash funds of ********* as lending club notes investment to avoid paying any interest on them into my *** account instead . However there were no notes on the account that were being held by me , all the funds were sitting as pure cash as the platform stopped offering its services At this time I am asking Strata Trust company to reimburse my 150$ fee as they incorrectly notified me several times through their licensed agent (*************************) that no fee would be deducted on my account (the old disclosures has a diff fee). They also failed to provide me proper notification of any fees being billed in my account in advance of the deduction nor did they provide me an option to pay if using diff payment methods and wasted several hours of mine in the process of going back and forth with them about this Finally i also ask them to provide an explanation of why they were categorizing my funds in the *** account as lending club notes investment when they were purely cash sitting in the account for 2+ years Thanks and Regards *****

  Business Response

  Date: 03/10/2023

  03/10/2023
  
  In Response to Mr. ******************* Complaint:
  
  ************ contacted STRATA Trust Company regarding the process to transfer out his investment.  He presented many what if I situations focused on avoid fees.  Two of our **************** Agents clearly explained the transfer process and that the fees were unavoidable.  Both CSAs reported that ************ was demanding and rude.
  
  When *********** opened his account, he signed the STRATA account *********** that was received and processed in March 2016 via the ************ account opening portal. When an accountholder completes a STRATA IRA *********** the following documents are provided.
  
  a comprehensive fee schedule,
  a custodial agreement,
  a disclosure statement, and
  a financial disclosure. 
  
  Our fees were fully disclosed at the time of account opening, on the ************ website, and on the STRATA website. There was a fee change notice sent out in January 2021 regarding fees increase that were effective March 2021, please see attached.
  
  Our service department worked hard to accommodate Mr. ***** demands in spite of his demeanor.
  
  ************ incurred a late fee of $50.00. The late fee was refunded as a courtesy.
  ************ terminated his account with STRATA and incurred a discounted closing/transfer fee of $150, instead of the normal fee of $250, due to a previous arrangement with ************.
  
  In light of the above information, STRATA management will not agree to the requested refund.

  
  
  STRATA Trust Company

  Customer Answer

  Date: 03/18/2023

  Complaint: 19540749
  
  I am rejecting this response because: The business has not answered the specifics complained of and is instead clearly diverting the topic by referring to me asking what if scenarios and demanding behavior. The what if scenarios are nothing but me questioning the diff ways to move my money out of Strata Trust company at the lowest cost since there is no single way and not all scenarios are explained online or even on their website. I dont see any reason why a customer cannot do that. This is pretty common behavior that the customer will opt for lowest cost and easiest path to transfer his money out of retirement account. If Starta trust company cannot digest customers demanding for clarity and answers they should not be in consumer facing business. Given the customer reps are not well trained and give diff answers at diff points in time it is again common for customer to demand that he gets the right answers to make the best decision for him (not what the company wants him to do) but the Strata customer reps provided gave me diff answers both on calls and also in writing and then they themselves apologized about it. 

  
  Clearly the business has made many inaccurate statements to me both in calls and in writing with regards to the closure process and the fees associated with it and did not for their own process of notifying me on any deductions before they were supposed to happen. They did this even for the late fee which they reimbursed which was again the mistake from their side. I dont need to even go far proving my point when there are other similar complaints against Starta Trust company against these fees on BBB website itself during the last year

  
  I am asking the company to go through my documented complaint again, review the call transcripts with ************************* when the final transfer decision were made and executed and answer the specific issues raised in the complaint along with the fee reversal

  
  Regards,
  
  *******************
  
  

  Business Response

  Date: 03/22/2023

  Tell us 03/22/2023
  
  In Response to Mr. ******************* Rejection of Decision:
  
  As requested,we at STRATA Trust Company have gone through Mr. ***** documented complaint again.
  
  When ************ opened his account, he signed the STRATA account *********** that was received and processed in March 2016 via the ************ account opening portal. When an accountholder completes a STRATA *** *********** the following documents are provided.
  
  a comprehensive fee schedule,
  a custodial agreement,
  a disclosure statement, and
  a financial disclosure. 
  
  Our fees were fully disclosed at the time of account opening, on the ************ website,and on the STRATA website.
  
  There was a fee change notice sent out in January 2020 regarding fees increase that were effective March 2020, that were previously attached with the initial response. 
  
  During Mr.***** recent encounter with our CSTs, *********** was again supplied the Fee Schedule, two times. 
  
  STRATA Trust deems that it has sufficiently responded to the base issue and the documentation previously provided speaks for itself and STRATA charged the correct fee to close the account.  That said, in good faith, we will refund $150.00.  After refunding this fee to his STRATA **** we will subsequently transfer these funds to his Vanguard *** where the initial funds were transferred when the account was closed.
  
  
  STRATA Trust Company

• Initial Complaint

  Date:01/03/2023

  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.

  Strata Trust sold a gold coin from my *** without informing **** was also not informed of the excessive fees.Looking online this evening I found that I have been charged the following fees in just one day:$95 Annual Fee $100 Storage Fee $50 Late Fee $40 Sales Fee.It will now be very expensive and difficult to replace the coin that has been sold.

  Business Response

  Date: 01/09/2023

  ************************
  2427 OLD JACKSONVILLE ROAD
  *****, ***** 75701
  
  January 4, 2023

  
  RE:  Better Business Bureau Complaint #********

  
  Dear **************,

  
  I have been made aware of your dissatisfaction with STRATA Trust Companys (STRATA) fees and fee collection process, via the Better Business Bureau on 01/02/2023.  At STRATA   we care deeply about our customer experience,so I want to thank you for reaching out. I'll be personally working on this issue, but I've also shared your issue with my team so that we can work to improve delivery of notices and other information provided to you.

  
  I currently show that you chose electronic communications only indicating your preference for e-mail delivery only.   We have been sending all notices, invoices, etc. via the e-mail address you provided, which does agree with the one you provided to the BBB along with this complaint.  If it has become inconvenient for you to receive information via e-mail, we can update your preferences very quickly.

  
  If you would like me to have your communication preferences changed to either regular mail or both regular mail and electronic delivery, I can do that for you.  Just let me know at any of my contact points listed below.  I will also be reaching out to you regarding same.

  
  When you opened your self-directed *** account with STRATA you agreed to STRATAs fee schedule and the *** ********* account agreement.  Article XIV of the ********* Account agreement does give STRATA the authorization to liquidate account assets if the Accountholder fails to pay renewal fees.

  
  And while I completely understand your confusion at the fees you have been charged, these are indeed the amounts that you have been notified of in three separate instances this year.  These are also the same fees charged and paid in prior years although potentially differing amounts as fees are subject to change. 

  
  I can provide you with copies of any of the documentation I have mentioned. As a show of good will, STRATA Trust will reimburse the $40.00 liquidation fee that was taken as part of this process.

  
  I do thank you for reaching out to the Better Business Bureau, otherwise we would not have known your issues and would not have been able to help you with your communication preferences.  It would be my pleasure to assist you.

  
  Kind regards,

  
  *********************, Compliance Manager
  **********************************************************************
  254.750.1041ll us why here...

  Customer Answer

  Date: 01/10/2023

  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.
  
  Regards,
  
  *********************

• Initial Complaint

  Date:11/23/2022

  Type:Service or Repair 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.

  11.21.22. I have been attempting to transfer my *** funds from Strata Trust Company to ************************* This company has been stonewalling and always creating extra roadblocks rather than submitting my funds to my new custodian. Furthermore, they now state that I must create something called a workflow to respond to their emails. I am a senior trying to move my *** account to my local credit union. My Navy Federal custodian has completed all required paper work and I have signed using docu-sign. Now they are saying they require a wet signature. Nothing was ever disclosed about all these additional steps. I have not been able to get my *** transferred for some time. They are refusing to transfer my funds per my requests.

  Customer Answer

  Date: 11/23/2022

  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.
  
  Regards,
  
  *******************************

• Initial Complaint

  Date:07/25/2022

  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.

  Strata trust is a holding company that **************** uses or used (since they are being sued also). This company I can NOT get my funds out of them. It is always something some lie. That I cannot get into the system I have to do this this and this and nothing happens. Please please help with this situation. **************** lied and my silver backed *** was a scam. I can't even get into see how much is in this account.*******************

  Business Response

  Date: 07/27/2022

  STRATA Trust Company ("STRATA") is a self-directed *** Custodian form Individual Retirement Accounts ("*****").  ******************* has a Traditional *** with STRATA Trust as the *** Custodian.  This *** account holds physical precious metals which are stored in a Depository on behalf of the *** account.  ******************* had originally instructed STRATA to fund the purchase of these precious metals from **************** as the coin dealer.  STRATA has no affiliation with **************** nor does STRATA offer any investment advice or investment products.  In order for ************* to "get her funds" as she states, she has to contact a coin dealer who is willing to buy the material from her ***, enter into a sales agreement with them, provide STRATA with the instructions necessary to deliver the matieral to the coin dealer so the dealer can then send the sale proceeds to STRATA for deposit into the ***** cash account.  On July26, 2022, STRATA Trust contacted ******************* with all of this information and also provided the appropriate STRATA processing forms that would need to be completed to facilitate this transaction.  ************* appeared to have a solid understanding of the process and the ball is now in her court to reach out to **************** or any other coin dealer of her choice with regards to completing the liquidation process.  In addition, ************* does have STRATA's phone numbers and our call center is open 8:00am to 5:30pm, Monday through Friday to assist with any additional questions and she can also contact STRATA by email at ********************************************************