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Business Profile

Bank

TBO Bank

This business is NOT BBB Accredited.

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Complaints

Customer Complaints Summary

  • 109 total complaints in the last 3 years.
  • 62 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

Sort by

Complaint status

Complaint type

  • Initial Complaint

    Date:04/15/2025

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    The internet seems way too high and I won’t be done paying my loan until December 2026 at $216 bi weekly for a $2,800 loan which comes out to almost quadruple the amount.

    Business Response

    Date: 04/16/2025

    Thank you for your
    recent inquiry addressed to Atlas by TBO Bank. To ensure the most efficient
    handling, this correspondence was forwarded to the Atlas customer service team.
    The team will reach out to the customer directly to resolve any issues.

    Kind Regards,
    Atlas Team

  • Initial Complaint

    Date:04/15/2025

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I was able to secure a loan for $1600 at an exorbitant APR of 348.94%. After reviewing the loan terms, it stated that I would have to pay back a the original....plus the interest, totaling over $10K. This is outrageous to even think that this is legal in MI let alone any other state. I needed the funds in an emergency and have attempted to contact their customer service multiple times in attempt to request a lower APR or work something else out, but they have placed me on hold or otherwise not answered my questions or even taken my phone call. Emails have gone unanswered as well. At this rate, it would take almost five years to pay back the principle and interest. The payments don't even touch the principle until after dozens of months. They have also since blocked me from signing into my account to follow up on my loan and see how much I owe. Per MI state law, APR is not to exceed 31%. I would like follow up regarding this from the company to comply with the law and restructure my loan.

    Business Response

    Date: 04/15/2025

    Thank you for your
    recent inquiry addressed to Atlas by TBO Bank. To ensure the most efficient
    handling, this correspondence was forwarded to the Atlas customer service team.
    The team will reach out to the customer directly to resolve any issues. It is very important to note that we have researched our communication history and there is no record of any emails or phone calls from the information matching this complainant. 

    Kind Regards,
    Atlas Team

    Customer Answer

    Date: 04/15/2025

     

    Complaint: ********



    I am rejecting this response because: I would like further follow up from TBO in regards to my loan. 



    Sincerely,


     David Willson

    Business Response

    Date: 04/15/2025

    TBO Bank will connect with the consumer directly as soon as we have had additional time to investigate further. TBO Bank had only received notification of the complaint this morning. 

  • Initial Complaint

    Date:04/14/2025

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Got a loan through TBO Bank. They are making me pay an interest rate of 298% for 2 years on a $2000 loan, which will put me at $12000 total paid. 298% is well above the legal rate in MN. When I called they said they were going off Missouri's jurisdiction. When I researched their rates, it's also well above the legal limit. Just trying to pay this back at an acceptable rate. This is an egregious and unethical loan.

    Business Response

    Date: 04/15/2025

    Thank you for your
    recent inquiry addressed to Atlas by TBO Bank. To ensure the most efficient
    handling, this correspondence was forwarded to the Atlas customer service team.
    The team will reach out to the customer directly to resolve any issues.

    Kind Regards,
    Atlas Team

  • Initial Complaint

    Date:03/29/2025

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Didn't know I would be paying a 121 a week

    Business Response

    Date: 03/31/2025

    Thank you for your
    recent inquiry addressed to Atlas by TBO Bank. To ensure the most efficient
    handling, this correspondence was forwarded to the Atlas customer service team.
    The team will reach out to the customer directly to resolve any issues.

    Kind Regards,
    Atlas Team

  • Initial Complaint

    Date:03/19/2025

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Took out a loan in July 2024. Paid some of the loan off and was unable to pay the rest causing the loan being sold/sent to collections. This company gave my personal information (SS#, Address, work history and phone number) to an agency that is not legitimate or legal and not the one it was sold to. Now I am worried they gave my information to other companies as well. Companies that use threatening and intimidation tactics to try and get you to pay. The original loan had a 288% interest rate which is crippling and is taking advantage of people's financial situations. If someone from the company had contacted me themselves to settle the loan at the original amount taken out, this would have been a different story. Now I have to worry about my personal information being sold or given to illegitimate companies to use against me, perhaps putting me in a position of fraud or identity theft. Don't use this bank at all cost.

    Business Response

    Date: 04/01/2025

    Thank you for your
    recent inquiry addressed to Atlas by TBO Bank. To ensure the most efficient
    handling, this correspondence was forwarded to the Atlas customer service team.
    The team will reach out to the customer directly to resolve any issues.

    Kind Regards,
    Atlas Team

  • Initial Complaint

    Date:03/17/2025

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    The I treat rates man is incredibly ridiculous and was told they would help reduce it once the final agreement was signed and they would call to to handle the issue well that was a lie I am not paying now more and I don’t think it’s legal for them to do business I’m washingto state

    Business Response

    Date: 03/18/2025

    Thank you for your
    recent inquiry addressed to Atlas by TBO Bank. To ensure the most efficient
    handling, this correspondence was forwarded to the Atlas customer service team.
    The team will reach out to the customer directly to resolve any issues.

    Kind Regards,
    Atlas Team

  • Initial Complaint

    Date:03/15/2025

    Type:Billing Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Last month I was looking for a small loan to get me to my next paycheck. I found Atlas TBO Bank. They lent me 2200.00. Once they started billing me, they too ave 200 from each paycheck totaling almost 500 a month. They neglected to tell me that they charge almost 16 dollars a day in interest. I have made approx 10 payments and still have a balance of over 2k. How can interest be 238%? This is absurd. Never again will I try to get help from them again. By the time I pay the loan off I would have spent 11k. How is that legal??

    Business Response

    Date: 03/17/2025

    Thank you for your
    recent inquiry addressed to Atlas by TBO Bank. To ensure the most efficient
    handling, this correspondence was forwarded to the Atlas customer service team.
    The team will reach out to the customer directly to resolve any issues.

    Kind Regards,
    Atlas Team

    Customer Answer

    Date: 03/17/2025

     

    ********** ********



    I am rejecting this response because I was not aware that they would take so much from my account monthly. I would like to settle this with them for paying them exactly what I borrowed minus the payments already made. I have paid almost the entire loan back and haven’t made a dent in principal. All that went to interest. It is not feasible for me to keep paying like this and I did not realize this would be the outcome for the loan. I know it’s my responsibility to read the fine print but I still feel with the way they do their loans it takes advantage of consumers. Not helpful. 


    **********

    ******** ******

    Customer Answer

    Date: 04/03/2025

     

    Better Business Bureau:



    I have reviewed the response made by the business in reference to complaint ID ********* and find that this resolution is satisfactory to me.




    Sincerely,


    ******** ******

  • Initial Complaint

    Date:03/14/2025

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I was approved for a loan of $2600. I have been making weekly timely payments and thought I was payments shy from paying off this loan. Upon reviewing my information online, I’m very upset that my payments have not made a dent in my principal balance. My interest rate is now showing 218% which is ridiculous and not what I agreed on. When I spoke to someone on the phone i was told that I’d be paying $100 a week until the balance was paid off with some interest. Here I am thinking interest is under 30%. But this company expects me
    To pay $12000 for a $2600 loan!! This is ridiculous and to my understanding the interest amount of 218% is illegal. I am asking for someone to please look into this company as they are clearly taking advantage of people who are already going through financial hardships and they are clearly making millions of dollars charging rates that are over the roof. The website doesn’t even give you the option to stop automatic payments or make changes to your account without calling. This company also does not report your on time payments to the credit bureaus.

    Business Response

    Date: 03/28/2025

    Thank you for your
    recent inquiry addressed to Atlas by TBO Bank. To ensure the most efficient
    handling, this correspondence was forwarded to the Atlas customer service team.
    The team will reach out to the customer directly to resolve any issues.

    Kind Regards,
    Atlas Team

  • Initial Complaint

    Date:03/12/2025

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I hope this message finds you well. I am writing to address a concerning issue with my loan account. Upon reviewing my account details, I noticed that the reported interest rate on my loan is 198.0355%, which appears to be significantly higher than legal limits. As per the Predatory Loan Prevention Act (PLPA) in Illinois, the maximum permissible interest rate on consumer loans is 36% APR. It appears that the interest rate associated with my loan exceeds this legal threshold. I kindly request that you review my loan terms and adjust the interest rate to comply with Illinois state regulations. I would appreciate a prompt response to resolve this matter and ensure that my account reflects the correct and legal interest rate. Thank you for your attention to this urgent issue. I look forward to your prompt resolution.

    Business Response

    Date: 03/13/2025

    Thank you for your
    recent inquiry addressed to Atlas by TBO Bank. To ensure the most efficient
    handling, this correspondence was forwarded to the Atlas customer service team.
    The team will reach out to the customer directly to resolve any issues.

    Kind Regards,
    Atlas Team

    Customer Answer

    Date: 03/21/2025

    Hello, TBO Bank is working on a resolution for me for a loan settlement. The only problem is that now I can not login to my client portal to see if they are implementing the loan settlement. So I am waiting to see if everything they are saying they are going to do will be done. I will send an update as soon as possible. 

  • Initial Complaint

    Date:03/11/2025

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I paid them back and they said I have to pay for two years $98.20 when the loan was only $800

    Business Response

    Date: 03/12/2025

    Thank you for your
    recent inquiry addressed to Atlas by TBO Bank. To ensure the most efficient
    handling, this correspondence was forwarded to the Atlas customer service team.
    The team will reach out to the customer directly to resolve any issues.

    Kind Regards,
    Atlas Team

TBO Bank is NOT a BBB Accredited Business.

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