Consumer complaint received 2026-05-13 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Trouble accessing funds in your mobile or digital wallet — 
Company: Groundfloor Finance Inc.
State: ID

Complaint narrative:
I requested funds held as " cash '' in an investment account be returned to our company 's bank account via ACH transfer. We have been lead down multiple stall tactics being coined as " security '' concerns, and after complying with their documentation demands, they keep asking for more information that is not relevant to the return of funds back to the bank account from which they were sourced. Transcript of the conversation with timestamps is pasted below : Conversation with Groundfloor Started on XX/XX/scrub>XXXX XXXX XXXX XXXX XXXX XXXX Eastern Time ( US & Canada ) time EDT XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Hello, when can I expect to have my funds available in my investment account? I withdrew some investments within the 48 hour window and the balance is showing available to invest, however {$0.00} is available and today is day 3. Thank you. XXXX XXXX XXXX XXXX XXXX XXXX that timing can be normal. After the initial 48 hour window, funds are locked into active loans and can not be withdrawn or transferred until those loans start repaying, so you may see available to invest but {$0.00} available to withdraw. ( http : //support.groundfloor.us/en/articles/3715616-how-does-groundfloor-work ) ( http : //support.groundfloor.us/en/articles/3715641-how-do-i-transfer-funds-to-and-from-my-groundfloor-account ) Also, once funds are eligible and you initiate a transfer, it can take 3 to 5 business days to clear depending on your bank. So on day 3, you may simply be waiting for the transfer to clear, or the funds may still be locked until repayments begin. Sources : How does Groundfloor work? ( http : //support.groundfloor.us/en/articles/3715616-how-does-groundfloor-work ) How do I transfer funds to and from my Groundfloor account? ( http : //support.groundfloor.us/en/articles/3715641-how-do-i-transfer-funds-to-and-from-my-groundfloor-account ) How do I get my money out of my account? ( http : //support.groundfloor.us/en/articles/8471378-how-do-i-get-my-money-out-of-my-account ) XXXX XXXX XXXX XXXXXXXX : Is that what you were looking for? XXXX XXXX XXXX XXXX XXXXXXXX : Not for repayments. I cancelled investments within the 48 hour window. XXXX XXXX XXXX XXXXXXXX : If you cancelled within the 48 hour window, the funds should return to your account as Available Cash ( not XXXXXXXX XXXX XXXXXXXX ), so you can transfer them out. ( http : //support.groundfloor.us/en/articles/3715616-how-does-groundfloor-work ) ( http : //support.groundfloor.us/en/articles/8471378-how-do-i-get-my-money-out-of-my-account ) What youre seeing on day 3 can still be normal : once you submit a transfer, it can take 3 to 5 business days to clear depending on your bank. ( http : //support.groundfloor.us/en/articles/3715641-how-do-i-transfer-funds-to-and-from-my-groundfloor-account ) A couple quick checks : - Make sure youre transferring from Available Cash ( not invested or on hold ). - If you recently deposited, new deposits can have a 10 business day security hold, which would keep them unavailable to transfer. If you tell me whether this was a new deposit or just a cancelled investment, I can help you narrow down which one applies. Sources : How does Groundfloor work? ( http : //support.groundfloor.us/en/articles/3715616-how-does-groundfloor-work ) How do I get my money out of my account? ( http : //support.groundfloor.us/en/articles/8471378-how-do-i-get-my-money-out-of-my-account ) How do I transfer funds to and from my Groundfloor account? ( http : //support.groundfloor.us/en/articles/3715641-how-do-i-transfer-funds-to-and-from-my-groundfloor-account ) What changes are happening to Groundfloor Notes? ( http : //support.groundfloor.us/en/articles/12871623-what-changes-are-happening-to-groundfloor-notes ) XXXX XXXX XXXX XXXXXXXX : Did that answer your question? XXXX XXXX XXXX XXXX XXXXXXXX : I'll wait the 5 business days, if those funds aren't available for me to transfer, then I will ask again. XXXX XXXX XXXX XXXXXXXX : Thank you for your patience, XXXX. Please feel free to reach out again if you have any more questions or need further assistance. I'm here to help! XXXX XXXX XXXX XXXXXXXX : I hope the information provided has been helpful, and I apologize for any inconvenience this situation may have caused. Would you like to share more details or ask any other questions while you wait? XXXX XXXX XXXX XXXXXXXX : Help XXXX understand how theyre doing : XXXX XXXX XXXX XXXX : Rate your conversation XXXX XXXX XXXX XXXXXXXX from Groundfloor : Good afternoon, XXXX XXXX Thank you for investing with Groundfloor. Im sorry to hear that you are having trouble transferring the cash available within your account. Are you looking to move all the cash available back to your bank account? XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX from Groundfloor : Good morning, Just wanted to circle back and see if you had any questions or needed further assistance. Best, XXXXXXXX XXXX XXXX XXXX XXXXXXXX XXXX : Im still not showing my investor funds as being available. Since today marks the 4th business day since I canceled investments within the 48 hour window, Im anticipating that these funds will show as available beginning tomorrow on the 5th business day. Is this correct? XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX : [ redacted ] XXXX : [ redacted ] XXXX : [ redacted ] XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX from Groundfloor : Good afternoon, XXXX, I just tried giving you a call but got your voicemail. I just checked your account and I see the funds ( {$120000.00} ) are now available for transfer. Please let me know if you have any issues initiating the transfer. XXXX XXXX XXXX XXXX XXXX XXXXXXXX : Thank you, XXXX. I see that and was able to successfully commit the transfer. I appreciate your attention to this matter. Regards, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX : [ redacted ] XXXX : [ redacted ] XXXX : [ redacted ] XXXX XXXX XXXX XXXX from XXXXroundfloor : You're welcome. Sorry for the delay. Is there anything else that I can help you with? XXXX XXXX XXXX XXXX XXXXXXXX : No, thank you. That should be all. Regards, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX : [ redacted ] XXXX : [ redacted ] XXXX : [ redacted ] XXXX XXXX XXXX XXXXXXXX from Groundfloor : Hi XXXX, It looks like you submitted a funds transfer out shortly after canceling some investments. Would you mind providing some additional context here? XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX : Hello XXXX, Im not sure what context youre inquiring about. I am attempting to move some investments funds around, hence the funds transfer out. Also, I see that this transfer request is not showing sent, nor does my bank show a transfer pending after a couple of business days. Can you provide status of the transfer? Thank you, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX : [ redacted ] XXXX : [ redacted ] XXXX : [ redacted ] XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX : Hello. I initiated a funds transfer to my bank account on XX/XX/year>. Can you provide status on this transfer? XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX : I have been requesting information regarding my transfer of funds out to our bank account for several days only to be met with no response. Can you please provide an update? XXXX XXXX XXXX XXXX from Groundfloor : XXXX, Given the large status of the funds transfer you've submitted, we do require some additional context. You transferred the funds in less than a month ago and now want to transfer them out. XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX, I believe I gave you this context on XX/XX/XXXX where I stated : Hello XXXX, Im not sure what context youre inquiring about. I am attempting to move some investment funds around, hence the funds transfer out. As with any investor capital chases returns, and I made these transfers in accordance with Groundfloors rules. Now holding capital is detrimental to my capital returns and should be released as requested. Thank you. XXXX XXXX XXXX XXXX XXXX XXXX Hello, XXXXXXXX. Are you able to respond? XXXX XXXX XXXX XXXXXXXX from Groundfloor : Hi XXXX, I've escalated this to our security team for their insight. XXXX XXXX XXXX XXXX XXXXXXXX : Thank you. I need to make some timely moves and appreciate any assistance. XXXX XXXX XXXX XXXXXXXX from Groundfloor : XXXX, I spoke to our security team, and they have requested some additional documentation before moving forward. Can you send along a bank statement, as well as a selfie of yourself holding your ID? Furthermore, these funds are not yet fully cleared so more information will allow us to expedite your request. XXXX XXXX XXXX XXXX XXXXXXXX : XXXX, Im sending the latest bank statement with amounts redacted and a selfie as youve requested XXXX XXXX XXXX XXXXXXXX XXXX : [ Image ] XXXXXXXX XXXX | XXXX XXXX : [ Attachment : " XXXX '' ] XXXXXXXX XXXX XXXX XXXXXXXX from Groundfloor : XXXX, Do you have anything that has both your business name and personal name on it since it's a business bank account? XXXX XXXX XXXX XXXX XXXXXXXX : Attached is a recent letter for the XXXX XXXX manager addressed to me. Will this suffice? XXXX XXXX XXXX XXXX XXXXXXXX : [ Attachment : " Letter from XXXX XXXX '' ] XXXX PM | XXXX XXXX XXXX XXXX from XXXX XXXX XXXX XXXX XXXXXXXX : Also, the last digits of the bank account in all of this information sharing matches the account registered with Groundfloor. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Hello XXXXXXXX. Do you have any updates after supplying the latest information? Thank you. XXXX XXXX XXXX XXXX XXXXXXXX : Im not sure I understand the security issue here since were asking for a return of capital to the same account from which it came. Is there another issue going on here? XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX, is there any feedback or update after having received the requested information? XXXX XXXX XXXX XXXXXXXX from Groundfloor : I have sent the documentation you sent to review. I should have more information tomorrow. XXXX XXXX XXXX XXXX XXXXXXXX : Thank you. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX : Hi XXXX. I never heard back on Friday, XXXX. Do you have any update for me? Groundfloor is holding our funds, unwarranted at this point. Im also snapshotting our conversation in case we need to take further action. We need to have our funds released immediately. Thank you. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX from Groundfloor : HI XXXX, The documentation received did not meet our security team 's review standards. In order to approve a funds transfer out, we will need additional context given the fast turnaround time for the large request. XXXX XXXX XXXX XXXX XXXXXXXX : What further documentation do you need? XXXX XXXX XXXX XXXX XXXXXXXX : This response is vague, please respond with what further documentation is required. Otherwise, we are left with no choice but to see these responses as mere stall tactics. XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX, what additional documentation may I provide? XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX : Hello XXXX, I did not want to have to go in this direction, but Groundfloor 's lack of response, and lack of resolution when there is a response, has left me no other choice in this matter. Groundfloor is now forcing us to liquidate other assets to move forward with our investment goals, and holding our monies that are ostensibly being held as " Cash available to invest '' and refusing to transfer those funds back out to us. We need resolution on this today, otherwise we will reach out to corporate counsel, and in addition, find out what agencies they recommend we report Groundfloor to, whether that be, CFPB, SEC, FINRA, and our local state regulator. Thank you. XXXX XXXX XXXX XXXXXXXX from Groundfloor : Hi XXXX, I spoke to our team today. Are you open to having a phone call later today to discuss this further? XXXX XXXX XXXX XXXX XXXXXXXX : Yes, I'd be happy to get on the phone. I can be reached at [ redacted ] ( Office ), or I'm happy to jump on a bridge call. XXXX XXXX XXXX XXXX XXXX XXXX Hello XXXXXXXX, Please use this link ( XXXX XXXX XXXX ) for the drivers license pics. Please let me know when youve downloaded the files so I can close the share. Thank you, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX : [ redacted ] XXXX : [ redacted ] XXXX : [ redacted ] XXXX XXXX XXXX XXXXXXXX from Groundfloor : Thank you. I have downloaded the file. XXXX XXXX XXXX XXXX XXXXXXXX : Ok, thank you. XXXX XXXX XXXX XXXXXXXX from XXXXroundfloor : XXXX, I've escalated this to the security team for review. They are meeting in a week and I will have more updates for you then. XXXX XXXX XXXX XXXX XXXXXXXX : Another week is not ideal, but I appreciate your help. Im anticipating well have this resolved without further delays. XXXX XXXX XXXX XXXXXXXX from Groundfloor : That's the goal! XXXX XXXX XXXX XXXX XXXXXXXX : Thank you. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX from Groundfloor : Hi XXXX, I spoke to the security team. They are requesting statements for XXXX & XXXX without the retracted information. Please send over at your earliest convenience. XXXX XXXX XXXX XXXX XXXXXXXX : What is the justification for this, and what is the relation to returning funds? XXXX XXXX XXXX XXXX XXXXXXXX : Please return funds today. I am poised to open complaints with CFPB, SEC, FINRA and Idaho.gov. Groundfloor has no standing for withholding funds at this point. Asking for private financial information is unwarranted. Groundfloor has 1 hour to inform me that funds will be returned today. I am also downloading a copy of this transcript as evidence. XXXX XXXX XXXX XXXXXXXX from Groundfloor : XXXX, As part of our regulatory and compliance obligations, we are required to conduct enhanced due diligence reviews in certain situations, including where account activity may present potential fraud, anti-money laundering, or other financial crime risks. Under the terms of your account agreement and applicable financial regulations, we may request supporting documentation to verify the source and movement of funds associated with your account activity. To complete this review, we are requesting copies of your XXXX and XXXX bank statements. Please note that this request is a standard compliance measure intended to help protect both our platform and our users from unauthorized or unlawful activity. XXXX XXXX XXXX XXXX XXXXXXXX : You are being asked to return funds from the account in which they originated. How does this ask create potential fraud, exactly? Groundfloor has already verified my identity, received enough information in the bank statements, my driver 's license and photograph. Groundfloor is placing obstacles in order to avoid returning funds that I now have to assume are not there to return. Perhaps there is a Ponzi scheme afoot where the number of funds showing in my investment account are really not there, and these " security '' measures are a stall tactic as Groundfloor is trying to source the funds that are not owned by them. What our company 's expenses, balances, revenues and monthly cash flow are have no bearing on Groundfloor 's responsibility to return funds owned by us. I will not engage in any more stall tactics. XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX, unfortunately the 1 hour time frame has expired as of, 5 mins ago, so I will be proceeding with my formal complaints as stated. This action in no way invalidates the fact that Groundfloor needs to return funds to us immediately. Regards. -- - Exported from Groundfloor on XX/XX/scrub>XXXX XXXX XXXX XXXX XXXX XXXX Eastern Time XXXX XXXX XXXX XXXXXXXX XXXX time EDT ( XXXX )

Company response to consumer: Closed with explanation