Need to file a complaint?
BBB is here to help. We'll guide you through the process.
Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
10/17/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I downloaded this app because I am struggling financially, and needed some funds to get me through til my next check. I posted a loan request in the app, and it was funded Saturday 09/20. Since then I have not been able to even withdraw those funds from the app to my bank account therefore making them unusable. I gotten the runaround everyday since then about how theyre having issues with their app, and that it would be fixed. Its still not fixed, and they are still letting lenders fund requests with their hard earned money while knowing that their app is non functional. These issues apparently have been going on for months and yet they still have kept their app live. I think this is probably against some sort of rules or regulations. Lenders are pretty much using them as a bank unknowingly at this point because there will be no return on their investment. This is ridiculous.Business response
10/24/2024
Dear *****,
We appreciate your feedback and we're truly sorry for the inconvenience you faced with your account.
According to our records, your loan has been canceled. We've noticed that you successfully transferred the funds to your external bank account on September 25.
We consider this issue resolved.
Should you need immediate assistance, please contact us directly at *********************************************************.
Regards,
SoLo TeamInitial Complaint
10/14/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
The loan I requested was funded but for some reason Im having issues withdrawing the funds. I cant get any help with my issue even though Ive contacted them several times. I keep getting the run around. Ill be expected to pay back the loan with fees even though I cant get access to the funds. I just want the issue fixed so I can use the funds before I have to pay it back.Business response
10/17/2024
Dear *********,
Thank you for your feedback. We sincerely apologize for the inconvenience you experienced with your account.
Our team canceled the loan in question. Our records show you were funded for a new loan and successfully withdrew those funds on 10/5.
Should you need immediate assistance, please contact us directly at *********************************************************.
Regards,
SoLo TeamInitial Complaint
10/03/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
I put in a request for a loan in the market place on the app on 6th September, someone kindly helped out and I attempted to withdraw the amount from the apps wallet. The money never hit my account. I started contacting **** immediately to very little resolution, just that theyd escalate the request. I then started to get more desperate as the loan due date was approaching and still the team werent doing anything or following up with me at all. I asked for the team to cancel the loan and revoke authorisation to debit my account, something that takes two minutes with other apps but they say needs to be sent as a request. Today the app debited me for a loan I never received to which the agent assured me was going to be sorted but I simply cannot wait another three weeks while this team idly twiddles their thumbs and refuses to do anything.Business response
10/11/2024
Dear Nadine,
We apologize for the inconvenience caused by the technical issue you experienced when trying to withdraw funds from your account. As a result, we have canceled the transaction and returned the funds to your wallet. You will now be able to withdraw.
Should you need immediate assistance, please contact us directly at help@solofunds.com.
Regards,
SoLo TeamCustomer response
10/17/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID 22343760, and find that this resolution is satisfactory to me.
Sincerely,
Nadine HartInitial Complaint
10/01/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Through the Solo Funds application, I requested a loan for $500 on September 2nd. The lender tip was $39. I was unable to withdraw the $500 from my ********* wallet to my bank account. I contacted ********************** through their messaging tool in the application, and through email Nine separate times (Each method) from Sept 2nd until today. Wasting hours of my time. Giving me terrible anxiety. No one was able to help me. One person mentioned they were going through a system change and that could be the problem. Today, when the repayment of my loan is due, I get messages that I do not have the money I owe in my bank account!!!! Well, it's in my wallet in Solo Funds!!!! I find it impossible to believe that there isn't a phone number I can call to discuss this. Very Squirly Solo Funds!!!! I am beyond stressed out thinking Solo Funds is going to withdraw this money that I clearly never had access to. I want answers and am so frustrated that their support has no clue as to what is actually going on with your account. They say they will escalate it, but no one EVER responds!! Stay away from this company. Never trust anyone you can't call. I hope they contact me soon to ease my anxiety. Terrible way to feel for over TWO WEEKS!!!!!!Business response
10/11/2024
Dear ******,
We apologize for the inconvenience caused by the technical issue you experienced when trying to withdraw funds from your account. As a result, we have canceled the transaction and returned the funds to your wallet.
Should you need immediate assistance, please contact us directly at *********************************************************.
Regards,
SoLo TeamInitial Complaint
09/27/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
On 9/12/24 I requested a $400 loan from Solo Funds peer lending. It was accepted, and $400 went into my Solo wallet. I went to withdraw the $400 for use, and it continued to error. I contacted Solo Funds immediately, they told me to wait 2 days for it to clear and try again. I did, and it still gave me the same oops! Something went wrong message. They had me disconnect my bank account and reconnect it, disconnect my debit card and reconnect it, and try again and again. Nothing worked. I was assured they were escalating the issue to engineering and it would be resolved soon. It never was, I was never able to access those funds. This morning I was charged $442.25 for a repayment + tip on that loan. I have tried to contact to Solo Funds via phone, via email, and via chat to no avail. My bank will not credit me back the money as I have used solo funds before with no issue, so I am now hundreds of dollars overdrawn. The only way to rectify the situation is for Solo Funds to cancel the transaction, which they evidently wont do as it is impossible to contact them.Business response
10/07/2024
We are sorry to hear that Ms. ****** was dissatisfied with her experience. We take all feedback seriously and are always working to enhance the customer experience.
Ms. ****** joined the platform in May 2023 with nine repaid loans. On September 12, she requested a $400 loan. However, there was an issue with the transaction, and she was unable to access the loan amount. Consequently, the loan amount was debited from her checking account to repay the loan. On October 3, Ms. ****** was notified that the loan had been canceled and the repayment was returned to her wallet, from where she could withdraw the funds.
At SoLo, we go to great lengths to ensure a transparent and customer-focused experience. If Ms. ****** has any additional questions or comments, please instruct her to contact the SoLo Team directly at *************************************************************.
Sincerely,
SoLo TeamInitial Complaint
09/26/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
This app will not let me withdraw my funds and all I want is my money so that I can be completely done with this app and take my business elsewhere.Business response
10/11/2024
Dear *******,
Thank you for your feedback. We sincerely apologize for the inconvenience you experienced with your account.
Our records show you've successfully withdrawn funds in July, August, September, and October. We did identify a balance discrepancy which prevented you from withdrawing all funds in your wallet. That error has been corrected and you will now be able to withdraw the remaining funds.
Should you need immediate assistance, please contact us directly at *********************************************************.
Regards,
SoLo TeamInitial Complaint
09/18/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
My complaint I guess was deleted, with nothing resolved. You guys owe me $150 it has now been over a month since I asked for it to be fixed. I am going to escalate my complaint if this is not resolved in the next week.Business response
09/27/2024
Dear Madison,
Thank you for your feedback. We sincerely apologize for the inconvenience you experienced with your account.
The technical issue that impacted your account has been rectified. Your wallet now has a $150 cash balance available to be withdrawn.
Should you need immediate assistance, please contact us directly at *********************************************************.
Regards,
SoLo TeamInitial Complaint
09/06/2024
- Complaint Type:
- Billing Issues
- Status:
- Resolved
I borrowed $610.00 from the company and repaid my loan on 8/26/24. The $610.00 amount was deducted from my bank account and posted to my bank account on 8/26/24. There was some type of system glitch and their system did not recognize my payment. At first the system said payment pending. This morning the loan showed as unpaid again and past due in their system. My bank account still showed the payment as posted. I contacted customer service and they said they would investigate. Moments later another $610.00 was automatically deducted from my bank account via my debit card to pay the loan again. I did not authorize this second payment and I have now been charged twice for the same loan. I reached out to customer service again and provided screenshots of my bank account showing I was charged twice. They could only tell me they were looking into it and provided no other update or time frame for refunding me the duplicate charge. I do not have time to wait for them to complete their internal investigation. I need the funds refunded to my account immediately. I cannot afford to pay this loan twice. I am asking them to prioritize this issue and refund me immediately for the duplicate charge. I have provided proof of the duplicate charge and there is no reason for the delay in refunding me. Thank you.Business response
09/13/2024
Dear *****,
Thank you for your feedback. We sincerely apologize for the inconvenience you experienced with your account.
Please be aware that repayment attempts on August 25 were unsuccessful due to insufficient funds. An internal error resulted in the loan being repaid twice on August 26 and 27. As of September 5, the erroneous debit has been returned to your wallet. Our records indicate that you successfully withdrew the funds and received a subsequent loan. We consider this matter resolved.
Should you need immediate assistance, please contact us directly at *******************************.
Regards,
SoLo TeamCustomer response
09/15/2024
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.
Sincerely,
***********************Initial Complaint
09/05/2024
- Complaint Type:
- Order Issues
- Status:
- Answered
This company is one of the worst companies I've had to deal with I needed to ****** money for months and there site is down and no one has helped me at all. I keep getting the same cookie cutter responses and it's one of the worst please stay away if you can and 0 phone support.Business response
09/13/2024
Dear *****,
We are sorry to hear that you are dissatisfied with your experience.
Our records indicate you've been successfully funded for multiple loans since submitting this complaint. We will consider this matter resolved.
Should you need immediate assistance, please contact us directly at *********************************************************.
Regards,
SoLo TeamInitial Complaint
08/27/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Since April 2024 when they released their "great update" I have been having non stop problems with them and their service. I signed up as a lender and deposited thousands of dollars into their system. Giving them the benefit of the doubt I remained patient with them for quite some time while they worked on fixing their issues. After having several issues with my balances and withdrawals and multiple interactions with their customer support. I have come to the conclusion that they are either scamming people out of their hard earned money or are completely incompetent to the point that they should not be in business. I can't withdraw any of my funds and have many defaulted loans from users that I cannot confidently say that it was not Solos fault. This is the worst company I have ever dealt with and their escalation process is a joke.Business response
09/13/2024
Dear Angel,
Thank you for your feedback. We sincerely apologize for the inconvenience you experienced with your account.
After resolving an internal error, your balance discrepancy was corrected on September 4th and an email went out to confirm. Our records show you successfully withdrew funds on September 9th. We will now consider this matter resolved.
Should you need immediate assistance, please contact us directly at *********************************************************.
Regards,
SoLo Team
*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. ↩
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
Customer Reviews are not used in the calculation of BBB Rating
Contact Information
Customer Complaints Summary
272 total complaints in the last 3 years.
131 complaints closed in the last 12 months.