| 06/13/2023 |
Yes |
- Checking or savings account
- Other banking product or service
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- Opening an account
- Account opened as a result of fraud
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|
Web |
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On " XX/XX/2023, XXXX '' I received an email saying : " Hi There, To make full use of the M1 platform, youll need to verify your email address. All it takes is one click : Verify my email Need help getting started? Let our team walk you through M1. Watch this tutorial to learn how to use M1 and make the most of your money.
Thanks for choosing M1, The M1 Team '' This was followed on " XX/XX/2023, XXXX '' with : " Hi There, Welcome to M1. Now that you're here, you have access to a full suite of tools designed to help you build your wealth. As a new client, there are a few things you should know...
Jumpstart your account with a bonus [ etc etc ... ] '' My email has two factor authorization and there was no other person logged into when I checked the login files.
When I noticed the fraudulent emails, I went on their website and did a password reset on " Tue, XX/XX/XXXX, XXXX ''.
This was successfully reset at " Tue, XX/XX/XXXX, XXXX '' and gave me access to the account. Upon logging in, M1 Prompted me to start making my account. With a " Hey, '' I closed the webpage and contacted support.
On " Tue, XX/XX/XXXX, XXXX '' They replied with : " Hi [ my FirstNameLastName ], We've received your request ( XXXX ) and will be in touch within one business day. We're available from XXXX XXXX on days when the U.S. stock market is open.
If you have additional questions, please respond directly on this email thread.
Thanks and talk soon!
M1 team PS : In the meantime, visit our Help Center, and you may find the answer youre looking for in one of our detailed articles. '' Then at " Tue, XX/XX/XXXX, XXXX '' followed by : " Your request ( XXXX ) has been updated. To add additional comments, reply to this email.
Hi, Thank you for reaching out to report this. We have frozen the accounts in question and flagged the associated personal information to prevent the information from being used to open additional M1 accounts.
Below are some options you can explore regarding potential identity theft : XXXX. Place a fraud alert on credit reports ( Please contact each of the XXXX credit reporting agencies- XXXX, XXXX XXXX and XXXX XXXX.
XXXX. Go to XXXX XXXX XXXXXXXX ( You will get a report, which you can save ).
XXXX. File ID Theft with local police ( provide ID-Theft report you filled out ).
XXXX. Contact Social Security at XXXX or report online at XXXX XXXX XXXX
Additional Options : XXXX. Notify any companies where fraud occurred and request account be closed.
XXXX. Request and review all credit reports and make corrections by contacting them.
XXXX. If you get a collection letter for a debt you do not owe, contact debt collector within 30 days to report that your ID was stolen ( present your XXXX Report ).
XXXX. Check all your bills and credit reports regularly.
Please let us know if you have any additional questions.
Best, XXXX XXXX : XXXX XXXX : XXXX '' During this time I kept on receiving marketing emails from them on : XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX.
I wrote and informed them on " XX/XX/2023, XXXX '' : " I'm still getting M1 communication from you all. Please delete information about me from your records and blacklist this email so no more accounts can be made with it.
Any further Marketing/information/offer/promotion communication from M1 to me shall be subject to a Convenience fee of {$450.00} for the first occurrence, with a subsequent increase of 25 % for each subsequent occurrence thereafter. '' M1 replied with on " XX/XX/2023, XXXX '' : " Your request ( XXXX ) has been updated. To add additional comments, reply to this email.
Hi, We have archived your incomplete profile and we've unsubscribed you from our mailing list.
If there's anything else we can help with, please let us know.
Best, XXXX XXXX : help@m1.com W : www.m1.com '' they told me that They had " archived your incomplete profile and we've unsubscribed you from our mailing list. '' This was not the case as about 1 month later on " XX/XX/2023, XXXX '' I received another " mailing list : XXXX " Titled " Your summer finances at M1 '' I have since drawn up an invoice for {$450.00} and sent it to their " help@m1.com '' on " Mon, XX/XX/XXXX, XXXX ''. That appears to be the only available email address the company has.
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| 09/27/2023 |
Yes |
- Checking or savings account
- Other banking product or service
|
- Managing an account
- Deposits and withdrawals
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Web |
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On XX/XX/XXXX I initiated an account liquidation for the XXXX time, after my previous attempts did not go through.
After speaking to an agent on the phone I was told what I needed to do to request account liquidation.
I specifically asked if there was any selling I needed to do beforehand to request this, and was informed that no I did not need to sell anything ( I had already sold my stocks weeks before to my understanding ). And that I could just request a transfer and he tells me the amount to put to make sure I get the full balance.
I wait XXXX business days to have the transfer approved. And nothing happens.
So I call and I am told " oh we need a bank statement to confirm that account and then approve the transfer '', although I was not contacted or informed prior to me calling that this was needed or requested.
I spoke to XXXX who reassures me that she will do make sure this is handled right. She sends me a link to upload the document and I send it back within XXXX mins, I email to let her I know its uploaded.
She repsonsds that she will get it sent to the approvals team to get it approved and that I will hear back within 2 days.
2 days go by and I have not heard anything so I email ( XX/XX/XXXX ) and ask why havent I been informed on the status of my transfer. And I am told the transfer is approved and should be deposited within 3 days, I wait the 3 days, still no deposist. So I call my bank and they tell me that they do not see any pending deposists nor do they hold deposits. I call XXXX and ask to speak to speak to a a XXXX, I get XXXX who has no idea why the transfer had not been sent to me, but then tells me that there are holdins I need to put into my pie before I can transfer my money- which no one has told me way before needed to be done. I have no clue how to do this so he walks me through how to do it but my account although it confirms I moved over the assets into my XXXX it wont actually reflect that it has been done. We do it twice together on the phone, he informs me that he isnt sure why I cant do this action and that he will have to escalate the situation. And here it is XX/XX/XXXX and I still have not received any help to getting this resolved.
This company is hard to get real help with and they do not promptly address issues espcially when it comes to my ability to get things done on my end when my acount wont let me make the changes needed, they have inhibited my abilty to use my account and I do not want my money sitting in tis account anymore. i want liquidate and close the account
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| 06/29/2023 |
Yes |
- Checking or savings account
- Checking account
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- Managing an account
- Funds not handled or disbursed as instructed
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|
Web |
Servicemember |
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I bank with M1 Finance. I have a checkings, savings and an investment account. I'm a victim of identity fraud and could not access my M1 accounts. In early XXXX ( XXXX? ), the criminal " XXXX '' my account and was sending checks & ACH transfers by linking his bank. He changed my profile, email address and phone #. M1 never reached out to me to confirm these changes or obtain validation on outgoing funds.
Over the course of 5 days, M1 could not get me into my account. I had no access to check on transactions or to make trades.
The agent involved IT which finally gained me access. With the agent on the phone, I advised I cancelled one fraudulent check but two others are processing and to stop payment as I did not initiate. The checks in question had NOT cleared - total near {$8500.00}.
I entered a dispute with M1 's Fraud Department and they denied reimbursement stating I logged in and made these transactions. I asked how I could have done that as I did not have access and for them to please review all transcripts, chat 's and recorded phone calls to confirm. There was nothing else I could have done! My funds are for you to keep safe.
I've requested the XXXX XXXX to call me to discuss a resolution. I have not received the call nor has my funds been returned.
To add insult to injury, M1 wants to charge me {$30.00} for each item to investigate. What??? M1 is 10000 % in fault.
There are many instances online regarding M1 and the disappearances of funds which M1 states isn't their responsibility. See attachment of one such case.
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| 07/19/2023 |
Yes |
- Checking or savings account
- Savings account
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- Managing an account
- Deposits and withdrawals
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|
Web |
Servicemember |
|
This is in regards to M1 Finance. This 2nd complaint is being entered for not providing me with access to the balance of my funds. The 1st complaint was for stolen funds.
1. I'm a victim of Identity Fraud.
2. XXXX hijacked my account and I could not gain access for 5 days. M1 could not access either. Several communications a day to resolve.
3. XXXX changed my profile to his and attached his external bank account and commenced to sending out {$8500.00} in ACH 's. At no time did M1 confirm his identity or validate the changes with me.
4. M1 states " that I logged in and created the ACH 's ''. Which is wrong. Check the IP address!! Why didn't they ask for his ID?
5. I asked M1 to review all transcripts regarding the fraud and advise how I was at fault for their inferior controls.
6. ACCOUNTS FROZEN. I asked M1 to put a freeze on all my accounts for 30 days. They advised it would automatically revert at 30 days.
7. ACCOUNTS REMAIN FROZEN - It is now two weeks past the unfreeze date. I submitted an image of me holding my drivers license to prove my identity for the release. STILL NOT RELEASED. This is now an emergency situation.
Resolution requested : Return my stolen funds. Release my accounts so I can gain access! I am the wife of a XXXX XXXX XXXX I will continue to pursue and will involve social medial, news stations, the VA and legal counsel. Let 's do the right thing!
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| 07/01/2023 |
Yes |
- Credit card or prepaid card
- General-purpose credit card or charge card
|
- Fees or interest
- Charged too much interest
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|
Web |
Servicemember |
|
For XX/XX/2023 and XX/XX/2023 ive paid my entire statement balance and was still charged interest both months. The month before that they conveniently took nearly 10 days to complete a transfer of money request to pay the credit bill and charged me a huge fee for the payment bouncing this conveniently settled the exact day after the bill was due. Keep in mind this money was settling between accounts at the same company. I now believe this company to be predatory and fraudulent. Ive contacted the company by phone and there is nothing we can do about the interest being applied even though full statement balances are being paid. Ive also filed a finra complaint that they fixed behind the scenes after receiving and then answered in a non serious way down playing the theft ( or incompetence ) that apparently happens there on a normal basis.
I have attached screenshots of me paying the credit card the day before the due date and then it settling 2 days later with no grace period like 100 % of other companies offer when they know youve submitted the payment on time.
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| 05/09/2023 |
Yes |
- Credit card or prepaid card
- General-purpose credit card or charge card
|
- Getting a credit card
- Card opened as result of identity theft or fraud
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|
Web |
Older American, Servicemember |
|
On XXXX XX/XX/2023 I received a credit card from XXXX XXXX XXXX that I didn't order. I called XXXX to let them know and they told me I had to physically go to a branch office and they would take care of it. I made an appointment for Monday XXXX XXXX at the local office. On Monday, I received a letter from XXXX the card was suspended for fraudulent activity, even though I didn't activate it. The bank employee told me that the card was applied for on XXXX XXXX, and their application had my correct social security number and telephone number. For an email address they used my husband 's email. The only way I think my information could have been accessed was I filled out an application with M1 Finance to open an IRA for tax purposes, but decided not to continue the process after completing the application. I have since put a freeze on all three major credit companies ( XXXX, XXXX, and XXXX. I left all the paperwork ( including the credit card ) at XXXX XXXX XXXX for them to destroy.
|
| 11/26/2023 |
Yes |
- Checking or savings account
- Other banking product or service
|
- Managing an account
- Deposits and withdrawals
|
|
Web |
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|
The company claims that they can not find my account even after numerous communications. they were also informed that there was identity theft, paper works were provided and I an still not getting anywhere with XXXX. I sent the communications in the previous email and they still do get it. I have been locked out of my account therefore I do not have the account number. I also inform the team that my email has been cloned by XXXX which reads XXXX. If I send you direct message from my email to XXXX, XXXX mimics my email address. On the other hand, this happens to no one else. Only with XXXX. The matter was reported to XXXX and XXXX reassured me that my account is safe. XXXX should ask their security team to look into the matter since it happens only with XXXX. To date XXXX still can not locate my account. they haven't tried extensively to identify me their customer, making me feel as if they are holding my money XXXX. All i need is my money that I worked really hard for from XXXX.
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| 08/02/2023 |
Yes |
- Checking or savings account
- Other banking product or service
|
- Closing an account
- Can't close your account
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|
Web |
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I opened a brokerage account with M1 Finance and closed it. On their platform it showed my account as closed. I was sent an email on XX/XX/23 about this account that I had closed and it now shows a balance and is reopened. M1 Finance claims that while they " closed '' it on their end, it did not close on their dependencies so they reopened it and request that I connect A NEW bank account to move the money out and contact them again to close it. If I do not take action by XX/XX/23 they will liquidate my account and charge me {$50.00}.
This is such a short time frame to take action and requires the person affects to realize and act quickly since closing an account requires on M1 's customer support to do so. They could easily stall and wait until it's automatically liquidated. I also have checking accounts with M1 and it's not an option to liquidate my funds for some reason. This is an extremely frustrating customer experience and very, very deceitful.
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| 11/14/2023 |
Yes |
- Checking or savings account
- Other banking product or service
|
- Problem with a lender or other company charging your account
- Money was taken from your account on the wrong day or for the wrong amount
|
|
Web |
|
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XXXX XXXX XXXX as XXXX XXXX XXXX closed my checking account # XXXX that I paid annual membership oremium fee {$120.00} for this account. I tried to resolve with this financial institution for a partial refund of the M1 Plus membership annual fee since they shut down my checking account without my agreement.
M1 Customer Service refused to refund a partial unused membership fee for several months after the checking account was shut down earlier before the annual membership expiration.
I do not appreciate their lack of liability, unethical practices, and corruption with membership fees that they shut down my checking account and did not refund partial premium membership fee I paid for and the membership was unused and not completed in full.
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| 05/08/2023 |
Yes |
- Checking or savings account
- Other banking product or service
|
- Opening an account
- Account opened as a result of fraud
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|
Web |
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On XXXX XXXX, 2023, I received an email from M1.com welcoming me to my new platform and asking me to verify my email address. I did not open this account or request any profile creation. On XX/XX/2023, I emailed help@m1.com alerting them to the fraud and unauthorized product enrollment and received a confirmation email with request ID # XXXX. I am still waiting to hear back from M1 Finance, LLC. I asked that any accounts in my name be closed, and they investigate the fraud. I continue to get automated emails from M1 Finance, LLC, asking to verify my email and other automated marketing communications.
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| 06/06/2023 |
Yes |
- Checking or savings account
- Checking account
|
- Closing an account
- Can't close your account
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|
Web |
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Thu, XX/XX/XXXX, XXXX i wrote them : i would like to close my account and cancel my membership they responded : Thu, XX/XX/XXXX, XXXX Your request ( XXXX ) has been updated. To add additional comments, reply to this email.
Hi XXXX, Your M1 account ( s ) has been closed.
but later in XXXX they wrote to me : Thu, XX/XX/XXXX, XXXX ( 5 days ago ) Invest Negative Account Notice Hi XXXX XXXX We have identified your M1 Invest account, XXXX, currently containing a negative balance of XXXX XXXX
Because they continued to charge me for the membership fee
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| 06/09/2023 |
Yes |
- Money transfer, virtual currency, or money service
- Domestic (US) money transfer
|
- Money was not available when promised
|
|
Web |
|
|
On XXXX I initiated a transfer from my M1 Borrow account to my M1 High Yield Savings. On the transfer page it says this should take a few moments. On the help link documented on the transfer page, this transfer scenario is not documented. I was advised by help that this could take 2-4 business days, but this is not documented anywhere and is in conflict with the " should take a few moments '' shown to the user when submitting a transfer.
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| 09/02/2023 |
Yes |
- Checking or savings account
- Savings account
|
- Managing an account
- Deposits and withdrawals
|
|
Web |
|
|
On XX/XX/XXXX XXXX, my M1 finance saving account has been hacked and {$63.00} XXXX are missing.When i contacted them, they did not seem very responsive nor helpful. I asked to talk to a supervisor and nobody was available.They sent me a form to fill and told me they will investigate.It has been more than 10 days and the funds have not been refunded.
|
| 11/20/2023 |
Yes |
- Debt collection
- Credit card debt
|
- Attempts to collect debt not owed
- Debt was result of identity theft
|
|
Web |
|
|
M1 SPENDXXXX IS CURRENTLY SHOWING ON MY XXXX CREDIT REPORT THE ACCOUNT WAS OPENED FRAUDULENTLY PLEASE REMOVE FROM MY CREDIT REPORT.
|
| 01/25/2024 |
Yes |
- Checking or savings account
- Other banking product or service
|
- Managing an account
- Banking errors
|
|
Web |
|
|
|
| 01/07/2024 |
Yes |
- Checking or savings account
- Savings account
|
- Closing an account
- Funds not received from closed account
|
|
Web |
|
|
|
| 01/02/2024 |
Yes |
- Checking or savings account
- Checking account
|
- Opening an account
- Unable to open an account
|
|
Web |
|
|
|
| 12/17/2023 |
No |
- Checking or savings account
- Savings account
|
- Managing an account
- Deposits and withdrawals
|
|
Web |
|
|
|
| 11/10/2023 |
Yes |
- Checking or savings account
- Other banking product or service
|
- Managing an account
- Problem accessing account
|
|
Web |
|
|
|
| 08/21/2023 |
Yes |
- Debt collection
- Credit card debt
|
- Took or threatened to take negative or legal action
- Threatened to arrest you or take you to jail if you do not pay
|
|
Web |
|
|
|
| 05/13/2023 |
Yes |
- Money transfer, virtual currency, or money service
- Virtual currency
|
|
|
Web |
|
|
|
| 05/12/2023 |
Yes |
- Checking or savings account
- Checking account
|
- Closing an account
- Can't close your account
|
|
Web |
|
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