Consumer complaint received 2023-06-09
Company: OPORTUN FINANCIAL CORPORATION
State: MA
Product: Checking or savings account
Sub-product: Other banking product or service
Issue: Managing an account
Sub-issue: Funds not handled or disbursed as instructed

Complaint:
Hello. 

Summary -- - I am unable to transfer {$13000.00} in savings to an external bank XXXX XXXX XXXX XXXX due to what appears to be intentional roadblocks on the part of Oportun, Inc XXXX XXXX XXXX. 

I used the XXXX XXXX for about 18 months to help me with my savings. As a result, I saved {$13000.00}. XXXX  was then acquired by Oportun , Inc. Oportun is not a bank but uses XXXX XXXX to manage money in their accounts. As such, I have an account with XXXX XXXX I realized quickly that I did not like the way Oportun operated - given it's history of questionable loan practices- and request that my money be transferred to my other bank account. I was told they would mail a check. However, I asked for a direct transfer given that there are many complaints online from other users about Oportun checks bouncing. They refused to do so. ( This all happened approximately on XX/XX/2023 ). 

I then attempted to connect to my external bank using the XXXX XXXX XXXX. This connection worked seamlessly when the company was XXXX. However, the connection between my bank and their services was disabled when Oportun acquired them. There is still an option on the Oportun app to add external accounts using XXXX. I have attempted this a number of times. Each time, I receive word that the connection is successful followed immediately by this statement : " Something went wrong. Unfortunately, we're unable to connect the account at this time. Please contact customer service. '' After first receiving this notice, I contacted customer service who informed me that the problem was not theirs and was likely caused by a security hold on the part of my other bank. Today, I confirmed with my other bank that this is not the case. So it appears Oportun is not allowing the connection to be made. 

My next step in accessing my funds involved the discovery that Oportun is backed by XXXX XXXX I was able to locate my account number. I contacted XXXX in an attempt to access my funds. I was told that they work with " many third parties '' and that they do not have access to these accounts. The account is clearly held by XXXX XXXX This is how I know : My next step was to initiate a transfer from my XXXX XXXX account. I used XXXX routing number and the account number I found in my app. XXXX XXXX XXXX was able to connect to the account and verify it ( through the verification process of two small deposits ). XXXX XXXX XXXX shows the connection as XXXX XXXX. Not Oportun. So XXXX XXXX is confirmed as the account manager. Having made the connection between XXXX XXXX and XXXX XXXX, I then initiated a transfer. I spoke with XXXX XXXX XXXX who helped confirm that the request was legitimate and released a hold on their end. A day later, the transfer was canceled by Oportun XXXX XXXX with no notification. No email, no phone call, no text inquiring about the transaction prior to its being canceled. I, therefore, did not have a chance to speak with anyone about the reasoning behind the transfer cancellation. 

Recently ( XX/XX/2023 ) I reconnected the two accounts successfully from XXXX XXXX and requested a small transfer to see what the results will be. I have not yet found out. 

While I waited for this test, I also visited XXXX XXXX XXXX ( XX/XX/2023 ) and attempted to set up direct access to my funds using the XXXX Account Number which ended with a " We were unable to process your enrollment. Try again, or contact customer support. '' They provided a telephone number which I called. None of the five options provided on the phone support system addressed managing personal accounts and I was unable to access a customer service representative. I then emailed them using their customer service email requesting a telephone conversation. I await a response from that. 

I am reporting this because it appears as though every pathway to my funds has been blocked. At the very least the business practices of Oportun XXXX XXXX XXXX appear to be highly unethical if not fraudulent. I appreciate any attempt you can make to resolve this situation for me. And to look deeper into these business practices on behalf of the many customers who have reported similar complaints online.

Company response to consumer: Closed with explanation