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Business Profile

Stock Transfer Agents

Transfer Online Inc
BBB accredited business seal
BBB Accredited BusinessA+Rated by BBB

Complaints

Customer Complaints Summary

  • 2 total complaints in the last 3 years.
  • 2 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.

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Complaint status

Complaint type

  • Initial Complaint

    Date:03/08/2025

    Type:Sales and Advertising 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.
    I submitted the required documentation to transfer stock CSAI via Transfer Online on February 11, 2025 to ********. It has now been nearly a month and nothing has been done, as the stock price plummets. There communication is nonexistent and they do not respond to emails timely or at all. I am beyond frustrated in trying to get this finalized.

  • Initial Complaint

    Date:02/26/2025

    Type:Delivery 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.
    2/10/2025 I submitted a *** statement to Transfer Online as my broker had confirmed they were ready. On the same day, I received this automated Response: "Thank you for your message. We will respond to your message in the order that it was received. Please keep in mind that in accordance with SEC 17Ad-5 - Written ********************* we have 5 days to respond to your message."2/13 I followed up to confirm nothing else was needed, & I received a response from ****** ****** at Transfer Online, who provided a payment form that I had prviously not known was needed. I complied; I sent the required information within the hour from receiving the eamil from ****** ******.2/20, I followed up again, including that the *** stated states that *** transfers will be completed withn 48 hours. ****** ****** replied later that day with, "this is now in the queue to match up to the broker request. Please be advised, we have a very large number of *** requests being submitted by brokers and we will process in the order received. We do not have a timeline currently, but we are working on them as soon as possible. Once we have matched the broker request which may take several days, we will process as soon as possible."On February 25, at 9:35 AM EST, I sent an email stating "it's now been 10 days since my request was sent with all of the required information. is there an *** on this?"I still have not received a response to this latest email, & I still do not have the shares that should be transfered to me. I have handled multiple *** transfers with other agents in the past; it's never taken more than a day. This mishandling has cost me $30,000 I emailed today & immediately received an automated response that said, "****** ****** is on an extended leave. Please email both ***** ******* at ******************************** and ******* **** at ********************************** with your request." I emailed & left voicemails for each of these people, & I have not received a response.

    Business Response

    Date: 04/18/2025

    We are the co-agent and processor in this complaint.


    Mr. Watsons transaction is non-routine as defined by rule 17 CFR 240.17Ad-2.


    The items for Cloudastructure were three party transactions relying on information from the broker, shareholder and transfer agent. In addition,the transaction was part of a Public Offering and communications that were sent out regarding this were not authored by us, nor were we given final approval and it contained many errors.


    While we do our best to process timely, the nonroutine rule states that we must be diligent and process in a reasonable amount of time.While a reasonable amount of time is not defined, our internal policy is set at 30 business days or less.
    We met this timeline with this transaction.

    In addition, ********* sent a payment authorization as a tiff file which wasnt immediately recognizable to the system. When that was discovered, we processed immediately.


    Due to inclement weather office closure on 2/13/2025 and 2/14/2025 (which are excluded from timeframes) and Presidents Day on 2/17/2025,Mr. Watsons transaction was completed in 11 business days.

    Customer Answer

    Date: 04/24/2025

     
    Complaint: 22994404

    I am rejecting this response because the statements provided are categorically false. I documented all of the communications with this company for the processes and docuamts that were required. The individuals I was working with kept changing, but, as ackowledged in their note, the required information was provided long before it was processed. It is also no fault of mine that the person working on my file took an extended leave whil I was communicating. Once the error was found, additional urgency should have been taken; it is not the fault of the consumer that the obligations were't met because an error didn't capture the information that I sent appropriately. I also have a complaint with the ***, and the *** has provided direction. I have also been directed to retain an attorney to escalate to all costs related to dicovery, processing, and court fees, along with any lost wages caused by time I need to spend on this. The appropriate amount to ask for is over $30,000 based on the diligence promised at the begining. I am being more than fair in asking for $15,000 to cover the difference of the amount I should have been able to collect.

     


    Sincerely,

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

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