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Report: #1358182

Complaint Review: Wisebanyan, Inc - Internet

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  • Reported By: pissed off customer — lackawanna New York United States of America
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  • Wisebanyan, Inc Internet USA

Wisebanyan, Inc RIP-OFF/UNETHICAL BUSINESS PRACTICES Las Vegas Nevada Internet

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I created a wisebanyan account to set up an IRA. I gave wisebanyan my bank account information to make my first contribution. I was notified I had to verify the account before they would pull the funds off. After a few days of the account not receiving micro deposits, I emailed support to find out why. They told me they did not accept the account I wanted to use for funding.

I had to transfer money from that account to another account to use for my initial and monthly contributions. When I logged back in to wisebanyan, I was not given an option to cancel the $1,000 original contribution (that was authorized on a different account) but was told I have to update my bank account information and then verify it before I can add any contributions.

I updated my bank information as requested and had 2 micro deposits into my new account. I went back on to wisebanyan to verify the account and start the initial deposit over again. Once I verified the account, I was not asked for authorization to pull the funds out of my new account (like I was initially from the other account). I had to transfer money from one account to another (which my bank said wouldn't be available until this upcoming Monday).

Wisebanyan took it upon themselves to take the $1000 from Citizens without confirming it with me first or getting authorization (which I wouldn't have authorized until I knew the money would be available). I was notified this transaction not only put me in the negative, but it also charged me overdraft fees and resulted in my bank rejecting my gas bill payment. I called wisebanyan to explain the situation and spoke with ViJay. I explained to him I did not authorize the transaction on my Citizen's bank and needed a refund. He refused to refund me the money. Then he sent me an email saying they aren't paying my overdraft fees (I never asked them to but to just refund the money). ViJay told me I have to withdraw the funds myself (which is now below the $1000 I contributed) and also being charged a 10% penalty. 

This company is very unprofessional and do not own up to their mistakes. Their software has flaws in it. You can't choose to stop a recurring monthly contribution, nor can you cancel a pending contribution. They don't even bother to ensure you're authorizing the payments as you go. I will NEVER use wisebanyan again, and I will make sure the people who told me about them close their accountsa and take their business elsewhere. We don't need to do business with thieves.

This report was posted on Ripoff Report on 02/24/2017 02:22 PM and is a permanent record located here: https://www.ripoffreport.com/reports/wisebanyan-inc/internet/wisebanyan-inc-rip-offunethical-business-practices-las-vegas-nevada-internet-1358182. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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