Consumer complaint received 2025-03-18 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem when making payments — 
Company: Round Up Ventures, L.P.
State: TX

Complaint narrative:
I created a Lendly loan and was told I had until XX/XX/XXXX to cancel it with no interest or penalty. I called to inquire about this, and they guided me through how to make the payment online. I monitored my account over the next two days but noticed that the payment was never deducted. So, I called again, and the rep informed me that they couldn't process payments from my bank. When I explained this was the same account I'd had with them for years and used without issue to issue the loan, as well as to withdraw {$150.00} from my account on XX/XX/XXXX, I was told to try another card or bank. 

I was frustrated because I was already told the loan wouldnt be due until my next paycheck on XX/XX/XXXX, yet I was charged XX/XX/XXXX illegally prior to the actual real start date of loan repayment. I checked on their website and saw that someone could make a payment on my behalf, but when I tried to pay that way, it didnt go through. Over the phone, I was told this wasnt an option, even though their website clearly stated otherwise. I wasted {$58.00} transferring money to another card, only for it to be rejected again. In total, I spent over two days and {$80.00} trying to make the payment, hoping to cancel my loan interest-free. 

Finally, a supervisor explained that they only accept a limited list of banks and debit cards, claiming that only real banks were acceptable. When I asked if XXXXXXXX XXXX XXXX XXXX  counted as a " real '' bank, she said no, despite having live locations and bank tellers. She suggested I needed a large bank like XXXX, XXXX XXXX, or a credit union. She refused to provide me with a full list of specific acceptable banks, stating it was subjective. 

I am unable to open a " real '' bank account due to poor credit, and Lendly 's policies seem designed to force me to stay in this loan and pay over {$5000.00} in interest, despite having the funds to pay off the loan interest-free. I was not informed of their strict payment requirements in advance or during the loan process. It is also not stated online under repayment steps. Even if I did manage to open a " real '' bank account it could take days to receive a debit card, meaning I would miss the cancellation deadline and interest would occur. Supervisor said I could have my next check, if it's big enough to cover the loan, deducted to cover the loan, but even if it was big enough I'd still be missing the 3 day cancel deadline and interest would occur. This is unethical and discriminatory toward people like me who dont have access to " real banks. '' Lendly 's policies are unfair, and they should offer multiple ways to repay a loan. They accepted my bank details to issue the loan, so theres no reason they cant accept repayment from the same account. Their actions are a deliberate runaround to prevent cancellation. The supervisor even told me to have my entire paycheck sent to them, but that would take weeks, and by then, I'd be incurring interest. Despite being told previously that a supervisor could extend the cancellation terms, I was told today this isnt possible. This seems like a bait-and-switch tactic. Lendly should be held accountable for their unethical financial practices.

Company response to consumer: Closed with explanation