Complaints
This profile includes complaints for FinWise Bank's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 112 total complaints in the last 3 years.
- 46 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe 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:07/23/2025
Type: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 company showed ups as a new creditor on my TransUnion Credit report. I have never applied for credit thru this company and would like this removed ASAP. This is fraud!!!
Business Response
Date: 07/31/2025
A formal response has been mailed and emailed. Please allow 7-10 business days for delivery. Thank you.Initial Complaint
Date:06/25/2025
Type: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 took a loan with Edly/FinWise bank in order to enroll in Pathrise's career accelerator program as part of an income share agreement. I withdrew from Pathrise, and on June 5th, 2025, they repaid the balance of my loan to Edly. It is now June 25th, 2025, and my loan still shows as active. In spite of several e-mails to originations, and several phone calls and e-mails to the loan servicer, Edly is not even responding to acknowledge that the payment was made, let alone notifying credit bureaus that I am no longer in debt.Business Response
Date: 07/08/2025
A formal response has been mailed and emailed. Please allow 7-10 business days for delivery. Thank you.Initial Complaint
Date:06/24/2025
Type: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 requested multiple times to this company to stop sending me junk mail, I want them TO STOP SENDING ME JUNK MAIL, if you can get them to stop sending me junk that would be great!
Regards,
**** ******Business Response
Date: 07/01/2025
A formal response has been mailed and emailed. Please allow 7-10 business days for delivery. Thank you.Business Response
Date: 07/01/2025
A formal response has been mailed and emailed. Please allow 7-10 business days for delivery. Thank you.Initial Complaint
Date:06/02/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I received a notice via text message that a loan through oppsloans/Finwise bank was declined from 05/17/25. I did not apply for this loan. I only went into the site and updated the password on that day to see what the website was as I could not recall. It is a payday loan site and they are illegal in the state of VA. I contacted opploans and they refuse to accept the fact that I did not apply. This has an adverse reaction on my credit rating. I only want them to correct this with the credit agencies. I did not in any way shape or form apply for a loan with either oppsloans or finwise bank.Business Response
Date: 06/09/2025
A formal response has been mailed and emailed. Please allow 7-10 business days for delivery. Thank you.Initial Complaint
Date:05/17/2025
Type: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.
checked my trasnuion credit report and. noticed this account that I have no afflilaition too.
please remove my score is sufferingBusiness Response
Date: 05/23/2025
A formal response has been mailed and emailed. Please allow 7-10 business days for delivery. Thank you.Initial Complaint
Date:03/08/2025
Type: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.
Finwise keeps spamming me with letters when I've asked for them to stop, they refuse to put me on their do not contact list after requesting multiple times. I want someone from the BBB to resolve this asap they're harassing me.Business Response
Date: 03/10/2025
We have sent a request to our partners to cease all mailings/flyers/communications. Thank you.Initial Complaint
Date:02/28/2025
Type: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 my formal request to address and resolve the unauthorized accounts that are currently listed on my credit report. These inaccurate entries have significantly impacted my FICO score, leading to a noticeable decline that has caused challenges in maintaining my financial standing. I am reaching out to your office with great urgency and respectfully requesting your assistance in rectifying this matter.
UPSTA/****** ACCOUNT no.: ***** DATE OPEN: 01/01/2022
BALANCE: $0.00Business Response
Date: 03/07/2025
A formal response has
been mailed and emailed. Please allow 7-10 business days for delivery. Thank
you.Initial Complaint
Date:02/02/2025
Type: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 was in need of a loan, and FinWise RISE Credit was recommended by Credit Karma. They asserted both ahead of the loan being taken, and within the application process that the total interest rate would be something like 35.99% which is high, but it was never clear of the actual predatory lending practices that would occur. I got this loan in August of 2024, and to date have paid $2300. The loan was for $3500. I had to defer my payments after the Hurricanes hit Florida, and somehow the balance I had down to $3000 jumped to $3900 and my current payments are not even penetrating the balance. Out of curiosity, I went to the loan agreement which is completely not the same as the one that I initially executed. This loan agreement has an annual APR of 148.59% which is absolutely ludicrous.
WHY WOULD I pay almost $10,000 in interest on a $3,500 loan?
It is in fact, illegal, in the state of the Florida to charge so much in interest. Florida law limits interest rates to protect its residents from predatory lending. Under Florida law a two-year $2,000 loan is limited to 31% APR. Florida law and make loans over 100% that are illegal in Florida.
Pursuant to Florida State Statute 687.02 "(1) All contracts for the payment of interest upon any loan, advance of money, line of credit, or forbearance to enforce the collection of any debt, or upon any obligation whatever, at a higher rate of interest than the equivalent of 18 percent per annum simple interest are hereby declared usurious."
As such, please allow this to serve as my formal statement that I will be making no further payments to this institution, and will be sure to take any legal action against the same to prevent a ding to my credit.
You ought to be ashamed of yourselves.Business Response
Date: 02/13/2025
A formal response has been mailed and emailed. Please allow 7-10 business days for delivery. Thank you.Customer Answer
Date: 02/14/2025
Complaint: ********
I am rejecting this response because where there might be an agreement, it may lay forth the extremely predatory rates and be transparent in the fact that they will be charging you a total of $10,000+ in fees on a simple little loan, it does nothing to address nor provide clarification how Florida Law is clear on their position of set rates for loans and predatory lending.It is not uncommon for someone who is not privy to financial verbiage to fully understand the implication and true magnitude of a loan (when they are in need). However, these types of institutions prey on those types of people, and take from them when they're in need. Whether they executed an agreement or not, most citizens are not aware that each state has their own laws on lending, and FinWise d/b/a RISE credit is using their states regulations on loans for all other states, which are not fully enforceable against the citizens home state.
One thing when initially applying for the loan, is they verify what state the applier lives in in an effort to vet out the people in states where their contract is non-enforceable.I would like to provide the following laws in the State of Florida:
F.S.S 687.03 “Unlawful rates of interest” defined; proviso.—(1) Except as provided herein, it shall be usury and unlawful for any person, or for any agent, officer, or other representative of any person, to reserve, charge, or take for any loan, advance of money, line of credit, forbearance to enforce the collection of any sum of money, or other obligation a rate of interest greater than the equivalent of 18 percent per annum simple interest, either directly or indirectly, by way of commission for advances, discounts, or exchange, or by any contract, contrivance, or device whatever whereby the debtor is required or obligated to pay a sum of money greater than the actual principal sum received, together with interest at the rate of the equivalent of 18 percent per annum simple interest. However, if any loan, advance of money, line of credit, forbearance to enforce the collection of a debt, or obligation exceeds $500,000 in amount or value, it shall not be usury or unlawful to reserve, charge, or take interest thereon unless the rate of interest exceeds the rate prescribed in s. 687.071. The provisions of this section shall not apply to sales of bonds in excess of $100 and mortgages securing the same, or money loaned on bonds.
687.02 “Usurious contracts” defined.—(1) All contracts for the payment of interest upon any loan, advance of money, line of credit, or forbearance to enforce the collection of any debt, or upon any obligation whatever, at a higher rate of interest than the equivalent of 18 percent per annum simple interest are hereby declared usurious. However, if such loan, advance of money, line of credit, forbearance to enforce the collection of a debt, or obligation exceeds $500,000 in amount or value, then no contract to pay interest thereon is usurious unless the rate of interest exceeds the rate prescribed in s. 687.071.
(2) As amended by chapter 79-592, Laws of Florida, chapter 79-274, Laws of Florida, which amended subsection (1):
(a) Shall apply only to loans, advances of credit, or lines of credit made on or subsequent to July 1, 1979, and to loans, advances of credit, or lines of credit made prior to that date if the lender has the legal right to require full payment or to adjust or modify the interest rate, by renewal, assumption, reaffirmation, contract, or otherwise; and
(b) Shall not be construed as diminishing the force and effect of any laws applying to loans, advances of credit, or lines of credit, other than to those mentioned in paragraph (a), completed prior to July 1, 1979.Florida Fair Lending Act
Prohibits charging excessive late fees, increasing interest rates on defaulted loans, and charging prepayment penalties after the first three years
Payday loan regulations
Limits loans to $1,000, interest rates to 10%, and requires lenders to provide grace periods and credit counseling
Truth in Lending Act (TILA)
Requires lenders to provide loan cost information so that consumers can compare shop for certain types of loans
True lender legislation
SB 146
Would make loans that violate predatory loan prevention void and unenforceable; True lender analysis; Would identify the true lender of a loan by looking at who designs, controls, or operates the loan program
Notwithstanding the foregoing, FinWise has been subject to numerous and ample lawsuits with respect to their unrealistic annual interest rates, and the consumer has prevailed wherein the corporation or corporations like this were ordered to repay hundred of millions to those consumers and other financial institutions as it was deemed predatory and usurious. At this time, all i am asking is for my loan to be closed out as satisfied, and my contract to be ended.
Sincerely,
****** ********Business Response
Date: 02/18/2025
Our final response to your email has been sent to you via mail and email. If you have any additional questions, please see the documents sent to you. Allow 7-10 business days for mail delivery. Thank you.Initial Complaint
Date:01/17/2025
Type: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.
Took out a loan with Finwise Bank through Rise Credit. A payment was missed on my account and I set up a payment arrangement with the collections department to pay a current payment of $104.72 and the missed payment would be transferred back into the loan per a renewal program that was offered. Instead they took out a double payment from my bank account and caused my bank account to be overdrawn and other bills to bounce. They did not keep up their end of the agreement and it was breached. I even called customer service to make sure a double payment WILL NOT be debited from my bank and I was reassured it will not.Business Response
Date: 02/03/2025
A formal response has been mailed and emailed. Please allow 7-10 business days for delivery. Thank you.Business Response
Date: 02/06/2025
Our final response has been sent to you via email and mail. If you have any additional questions, please see the documents sent to you via email. Allow 7-10 business days for mail delivery. Thank you.Customer Answer
Date: 02/06/2025
Complaint: 22826231
I am rejecting this response because: A settlement was offered by the customer rep (pull your recorded line). It was for $700 to pay off loan and close the account. I have paid over $1400 like I stated previously. I stated that I would get back to her at later time. I would like the account settled for less and closed.
Sincerely,
Lanora VaughnInitial Complaint
Date:12/23/2024
Type: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 took out a loan with Rise Credit in whom states my lone is thru Finnwise bank of an amount close to $3K. I have responsibly paid on time or early for year and the balance has not decreased. While paying I also was saving up money to pay down the interest so I am not fully responsible for a high interest. I once made a monthly payment and then made another payment in the amount of a couple thousand to try eliminating some of the interest that money was taken and applied to the next months bill which was more than 1 month away and only like 1/12 of the money went toward the principal. I spoke to the company and asked if there was any way to pay toward my balance only as some companies do and was informed no. So then I also received a report from Credit Karma that not only were they continuing to add money to the balance every month after the contracted monthly payment was made by me so the balance stayed the same but they reported it to the credit bearu and it was taking away points on my credit. My credit has gone from *** to *** since the last time I checked.Business Response
Date: 01/06/2025
A formal response has been mailed and emailed. Please allow 7-10 business days for delivery. Thank you.Customer Answer
Date: 01/07/2025
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.
Sincerely,
********* ********
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