Consumer complaint received 2024-04-15 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: Relay Financial (US), Corp.
State: FL

Complaint narrative:
XXXX : ** XX/XX/2024 XXXXTo Whom It May Concern : ** I am writing to file a formal complaint against Relay Financial and XXXX XXXX on behalf of XXXX XXXX XXXX XXXX, regarding the egregious mishandling of our financial accounts and the subsequent disruption of our business operations. 

On Friday, XX/XX/2024, late afternoon, we received a concerning communication from Relay Financial, the front-facing company utilizing XXXX XXXX XXXX services in the background. Relay Financial requested information about a specific inbound wire transfer of {$30000.00} that XXXX XXXX, XXXX had received on XX/XX/2024. In compliance with their request, we promptly provided all signed documents and promissory notes related to this transaction. However, instead of facilitating a smooth process, Relay Financial chose to freeze all our accounts, leaving us incommunicado and financially stranded throughout the weekend. 

Their initial communication, as cited, vaguely referenced routine compliance reviews, ostensibly aimed at upholding security values. Yet, their actions caused severe disruptions to our business, hindering our ability to operate efficiently. Despite our immediate compliance and cooperation, the situation escalated further on Monday morning, with Relay Financial persisting in their demands for additional documentation, seemingly without regard for the significant inconvenience they were causing. 

Throughout our email interactions, we diligently complied with each request, providing all necessary documents within our means. However, Relay Financial 's demands continued unabated. Despite repeated requests for a phone call to resolve the matter expeditiously, they chose to communicate solely via email, prolonging the resolution process unnecessarily. 

Furthermore, the lack of transparency in Relay Financial 's handling of the situation is deeply concerning. Despite our cooperation and submission of extensive documentation, they failed to provide clear explanations for their actions. Instead, their inquiries became increasingly intrusive, demanding communication emails with our clients and detailed explanations of our business model. 

XXXX XXXX, XXXX operates as a legitimate Private Money Lender, facilitating real estate lending deals. Our interactions with Relay Financial were intended to be routine and compliant with all legal and regulatory requirements. However, their actions have caused undue hardship and financial losses to our business, which we can not tolerate. 

We demand immediate resolution of this matter, including the unfreezing of our accounts and a formal apology for the disruption caused. Additionally, we seek assurances that such arbitrary actions will not be repeated in the future, and that Relay Financial will adopt more transparent and accountable practices in their dealings with clients. 

Thank you for your attention to this matter. 

Sincerely, XXXX XXXX XXXX XXXX, XXXX

Company response to consumer: Closed with explanation