Investment Security
Vanguard Group Of Investment CompaniesHeadquarters
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Important information
- Customer Complaint:Please be advised that due to the high volume of complaints received for this business, BBB publishes 1 out of every 10 complaints handled through our conciliation process.
Complaints
This profile includes complaints for Vanguard Group Of Investment Companies's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 654 total complaints in the last 3 years.
- 176 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe 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.
Initial Complaint
Date:08/22/2022
Type:Billing IssuesStatus:AnsweredMore info
Complaint statuses
- 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 recently moved myself, my wife, and mom to an assisted living facility in Costa Rica. Mom is age 90 and my wife has late stage dementia so I needed a high level of care. A major issue was funding our stay here in Costa Rica and I contacted Vanguard Group where our retirement funds reside to validate that SWIFT money transfers to a bank in Costa Rica would not be an issue after our arrival. We arrived, opened a bank account, and the troubles started. Repeated efforts to connect our Vanguard account to our bank here failed. Phone calls to Vanguard continued to affirm that they do SWIFT wire transfers and after several efforts they sent us a form to complete for International wire transfers. Time passed after I had returned the form and they had not responded so I called again. They informed me that I had not filled in a USA financial institution to originate the wire transfer from. I reminded them that they (Vanguard Group) were the originator. They then stated that I had to have a USA bank involved to do the actual SWIFT wire. I escalated and a manager finally admitted that they do NOT do SWIFT transfers. Assistance connecting to another bank in the USA (if I had one) was never part of my request. I simply asked if they did SWIFT and they repeatedly responded that they did. Most of that was in phone conversations, but the attached message dated 7/19/22 sending me a form to fill out to "add an international bank to my profile" obviously is meant to deceive the customer into thinking they do SWIFT transfers. I can connect any USA bank to my Vanguard account with a routing number and account number, no assistance is required. The form is an obvious part of their intentional program to deceive clients. My complaint... A financial institution lying about the services provided is a significant consumer fraud issue. The form proves intent to deceive. This deception has cost me time, money, and significant stress. A FINRA fraud investigation has been requested.Business Response
Date: 08/29/2022
August 26, 2022
Dear *** *******:
We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter dated August 23, 2022, regarding a complaint from ****** *** *******. For your reference, I have enclosed a copy of your letter as Exhibit A.
Vanguard has previously responded to *** ******* concerning this issue directly in writing, no additional response will be sent. If you have additional questions, or if I can be of further assistance, feel free to contact me directly.
Sincerely,
Vanguard Compliance DepartmentBusiness Response
Date: 09/19/2022
September 16, 2022
Dear *** *******:
We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter dated September 9, 2022, regarding a follow up complaint from ****** *** *******. For your reference, I have enclosed a copy of your letter as Exhibit A.
Per our previous correspondence Vanguard considers the matter closed. If you have additional questions, or if I can be of further assistance, feel free to contact me directly.
Sincerely,
Vanguard Compliance DepartmentCustomer Answer
Date: 09/19/2022
[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
Complaint: ********
I am rejecting this response because: Vanguard's response is a refusal to respond. That is not acceptable. I am closing the matter by moving my Vanguard accounts to a competitor.
Regards,
*********************Initial Complaint
Date:08/19/2022
Type:Service or Repair IssuesStatus:AnsweredMore info
Complaint statuses
- 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.
Non requested, ridiculous, not user-friendly innovations I want 'All Vanguard mutual funds by asset class info' in the old format. I do not like such unnecessary innovations. Why Vanguard does not ask its customers opinions? Who is responsible for such "wise" decisions? Response from Vanguard in *********
“While we aren’t able to revert back to our previous version, we’ve forwarded your feedback to the appropriate area for review.” What is the problem to revert back to the previous version. There is not an archive at Vanguard? Today is 2 weeks from my request. When will we know about the solution? Response from Vanguard in ********: “There is no option to revert our website back to a previous version. We appreciate your feedback and understand that change can take a bit of time to get used to.” Why do I have “ to get used to” while I was pretty happy with the previous user-friendly version? Who requested such innovation and why?Business Response
Date: 09/06/2022
September 2, 2022
Dear *** *******:
We are writing on behalf of The Vanguard Group Inc. (“Vanguard”) in response to your letter dated August 24, 2022, regarding a complaint from ***** **********. For your reference, I have enclosed a copy of your letter as Exhibit A.
Vanguard has responded to ***** ********** directly in writing. If you have additional questions, or if I can be of further assistance, feel free to contact me directly.
Sincerely,
Vanguard Compliance DepartmentCustomer Answer
Date: 09/08/2022
[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
Complaint: ********
I am rejecting this response because:
Enhanced webpage!!!
The response from Vanguard in my account messages:
Vanguard is committed to evolving the website experience through enhancing the look and feel of the Vanguard.com webpages.
The questions remain the same. What the reason was to enhance the compact user-friendly easy to understand webpage? Who requested such enhancementand why? Who has priority in such decisions, we, the investors, or those who are paid with our money?
This is the real reason to switch to another investment company.
Regards,
*******************************Initial Complaint
Date:08/18/2022
Type:Billing IssuesStatus:AnsweredMore info
Complaint statuses
- 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've tried several times to get them to close my account and stop sending me emails/snail mail, but they keep doing it. I'd like them to remove all of my information completely from their system and stop sending me things in the mail!!!!!Business Response
Date: 09/02/2022
September 1, 2022
Dear *** *******:
We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter dated August 19, 2022, regarding a complaint from ******* ** *****. For your reference, I have enclosed a copy of your letter as Exhibit A.
Vanguard has attempted to contact *** ***** via phone, but was unable to reach her. Therefore, Vanguard responded to *** ***** directly via mail. If you have additional questions, or if I can be of further assistance, feel free to contact me directly.Sincerely,
Vanguard Compliance DepartmentCustomer Answer
Date: 09/06/2022
[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
Complaint: ********
I am rejecting this response because:I just received your response to my BBB complaint.
I do not answer the phone for numbers that I do not know. Or numbers that show up as spam.I do have an email that was listed on my account and well as on my complaint so I’m not sure why that wasn’t used to contact me.I'd like all of my information to removed from Vanguards system and no more mail sent to my address.
Regards,
*****************************Business Response
Date: 09/07/2022
September 6, 2022
Dear *** *******:
We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter dated September 6, 2022, regarding a follow-up complaint from ******* ** *****. For your reference, we have enclosed a copy of your letter as Exhibit A.
Vanguard has attempted to contact *** ***** via multiple channels. Once *** ***** responds to us directly as we have instructed in our communication, we will be able to assist her with her request. Until then, we will respond to further correspondence concerning this issue at our discretion. If you have additional questions, or if we can be of further assistance, feel free to contact us directly.
Sincerely,
Vanguard Compliance DepartmentInitial Complaint
Date:08/17/2022
Type:Service or Repair IssuesStatus:AnsweredMore info
Complaint statuses
- 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 have an account with Vanguard. For some reason, I cannot log in even after trying changing password. I talked to a Vanguard rep for almost an hour several months ago. But, he could not solve it and said he would come back to me. But, he never did. I try to call them but the wait time is always 30 min or more. I want to be able to talk to someone and maybe withdraw my funds and deposit elsewhere (say ********). ****Business Response
Date: 08/31/2022
August 31, 2022
Dear *** *******:We are writing on behalf of The Vanguard Group Inc. (“Vanguard”) in response to your letter dated August 19, 2022, regarding a complaint from **** ** ****. For your reference, I have enclosed a copy of your letter as Exhibit A.
Vanguard has responded to *** **** directly in writing. If you have additional questions, or if I can be of further assistance, feel free to contact me directly.
Sincerely,
Vanguard Compliance DepartmentInitial Complaint
Date:08/15/2022
Type:Order IssuesStatus:AnsweredMore info
Complaint statuses
- 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.
On August 3, 2022 I requested a hardship withdrawal to finance the purchase of a primary residence. I needed the money for an earnest money deposit to enter a contract and obtain financing. I was worried about the timing and reached out to them regarding ways of expediting the process. The paperwork initially had a physical mailing address. I was subsequently informed I can fax additional documents. When the dust settles, they finally processed the mailed documents, ignored my faxed offer and acceptance and rejected my application. Their documentation requirements called for the full contract prior to issuing funds. I managed to reach an agreement regarding a partial deposit to the seller, followed by a larger deposit once I received my distribution. While this amount did not support the full distribution, I would have accepted a partial disposition and followed up with closing costs for the remainder. Their decision to outright reject my application, along with ignoring my offer, will result in me losing this purchase. Due to the challenge in finding a seller willing to accept an offer with an *** loan, and rising loan costs in general, I require Vanguard to process my request timely upon review of offer, or purchase comparable property on my behalf and resell to me at substantially similar terms.Business Response
Date: 08/31/2022
August 30, 2022
Dear *** *******:
I am responding on Vanguard’s behalf in response to your request for information concerning complaint ID ********. The complaint concerns an employer-sponsored retirement plan account. For your reference, I have enclosed a copy of the complaint as Exhibit A.Vanguard will be responding directly to the complainant regarding this issue, and we consider the matter closed. We ask that the complainant please allow at least three business days to receive Vanguard's response through their Secure Message Center on our website.
If you have any additional questions, or if I can be of any further assistance, please contact me by phone at ###-###-####.
Sincerely,
Vanguard Compliance DepartmentInitial Complaint
Date:08/13/2022
Type:Product IssuesStatus:AnsweredMore info
Complaint statuses
- 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 have my 401k with Vanguard. I have had financial diffulties lately due to taking care of some family. I'm eligible to withdraw a hardship withdrawal to pay for my rent. The process take 1 to 3 days. I put in a request on 8/1. On 8/5 night, i got a rejection email stating that my eveiction letter needed to have a letter head for my apartment complex to be valid or apartment manager has to notarize. I went to the leasing office and got an official letter with the apartment letter head and faxed it to Vanguard. I called on 8/8 and they confirmed they received the fax and I would be getting my money by 8/10. I called on 8/10 when I received another rejection letter stating I had missing info. The rep was very confused on the notes because I had given all the required documentation. She escalated my case back again and was told i would receive the funds within 3 days. I called again yesterday, 8/11 and I was told that they were working on it and escalated it and should receive the money today. It is now 11:29pm on 8/12. I have not received my money. Tomorrow I will incur more fees from my apartment and a possible lockout. I have submitted the required documents and each rep I speak to is very confused why my case is taking so long, especially because I have submitted all the required info. Each time I ask to the person who is handling my case, I'm told either she is not available or on break. This whole process is supposed to take 3 days *** but it has been 11 days!! This is very unfair to my family and I. I trusted Vanguard to invest my money and to be able to access it in times of emergency. I need my money asap, not sure if this is retaliation for wanting withdraw but it is very unfair and reckless. I wish my work company would switch back to the previous investment group. Thanks to Vanguard, despite them handling my money and I requested a partial withdrawal, i could be homeless tommorow. Vanguard, I need my moneyBusiness Response
Date: 09/01/2022
September 1, 2022
Dear *** *******:
I am responding on Vanguard’s behalf in response to your request for information concerning complaint ID ********. The complaint concerns an employer-sponsored retirement plan account. For your reference, I have enclosed a copy of the complaint as Exhibit A.
Vanguard will be responding directly to the complainant regarding this issue, and we consider the matter closed. We ask that the complainant please allow at least three business days to receive Vanguard's response via secure email.
If you have any additional questions, or if I can be of any further assistance, please contact me by phone at ************.
Sincerely,
Vanguard Compliance DepartmentInitial Complaint
Date:08/12/2022
Type:Product IssuesStatus:AnsweredMore info
Complaint statuses
- 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.
Vanguard will not give me online access to invest my retirement savings. This has been going on since February. I have spent countless hours on the phone. I have had the documents they wanted notarized; they sent and email acknowledgement of that document and then said they didn't get it, that was June 13, 2022. Vanguard is investing my money how they want, not how I want and that is wrong. I had to cut all payroll deductions since their investment choices are not what I'd choose. I want access to my account and I don't want to have to spend more time taking off work to accomplish this.Business Response
Date: 08/31/2022
August 30, 2022
Dear *** *******:
I am responding on Vanguard’s behalf in response to your request for information concerning complaint ID ********. The complaint concerns an employer-sponsored retirement plan account. For your reference, I have enclosed a copy of the complaint as Exhibit A.
Vanguard will be responding directly to the complainant regarding this issue, and we consider the matter closed. We ask that the complainant please allow at least three business days to receive Vanguard's response through their Secure Message Center on our website.
If you have any additional questions, or if I can be of any further assistance, please contact me by phone at ************.
Sincerely,
Vanguard Compliance DepartmentCustomer Answer
Date: 08/31/2022
[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
Complaint: ********
I am rejecting this response because: the date of 8/11/22 is not correct, Vanguard sent an acknowledgment of my mailed, notarized document to me via email on June 13, 2022. I would like this response updated to reflect accurate, factual data. Thank you so much.
Regards,
*************************Initial Complaint
Date:08/12/2022
Type:Service or Repair IssuesStatus:AnsweredMore info
Complaint statuses
- 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.
Vanguard is taking money out of my pay check for a 401k I never authorized. I called and resolved the issue. But when I asked about funds already withdrawn I was advised funds will be issued when I leave the company. When I first started my new employment I declined all 401k and medical benefits yet money was still taken out. I live pay check to paycheck and this is a real financial burden. Any assistance would be greatly appreciated.Business Response
Date: 08/31/2022
August 30, 2022
Dear *** *******:
I am responding on Vanguard’s behalf in response to your request for information concerning complaint ID ********. The complaint concerns an employer-sponsored retirement plan account. For your reference, I have enclosed a copy of the complaint as Exhibit A.
Vanguard will be responding directly to the complainant regarding this issue, and we consider the matter closed. We ask that the complainant please allow at least three business days to receive Vanguard's response via secure email.
If you have any additional questions, or if I can be of any further assistance, please contact me by phone at ###-###-####.
Sincerely,
Vanguard Compliance DepartmentInitial Complaint
Date:08/11/2022
Type:Service or Repair IssuesStatus:ResolvedMore info
Complaint statuses
- 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.
*********************** submitted a form to update an SEP-IRA/SIMPLE IRA Plan account for the company. ****** ******** hired a new Executive Director. We completed the paperwork related to an existing plan for the former executive director be removed from the file at Vanguard and that I the current Executive Director be replaced as an Authorized individual. I received an email which didn't have my name requesting I follow the directions to establish an account as an authorized user.(below) Vanguard homepage Vanguard Small Business Services Action needed: Complete your registration Dear ******* ******, We've recently established you as an individual who has the authority to sign up for secure access to Vanguard Small Business Online® Within Vanguard Small Business Online, you'll be able to add your organization's banking information, view your participants, and easily make plan contributions. To complete the registration process and take advantage of everything that online access has to offer, follow the instructions below. You'll need your plan number, ******** (****** ********), and your Social Security number. Please go to the following site: smallbiz.vanguard.com/login. After completing the registration process you can bookmark the Log on screen for future access. To contact a retirement plan specialist, please call ###-###-#### between 8 a.m. and 8 p.m. Eastern time on business days. Thank you for your interest in Vanguard. © 2022 The Vanguard Group, Inc. All rights reserved. *** ***** **** ***** | Wayne, PA ********** | vanguard.com I submitted the paperwork for the designation of authorized individual and this has not been corrected. August 11, I am told they can't speak to me because I am not on the account. I continue to be offered an apology. I want a resolution and not have to be on hold for 2 hours waiting for no resolution. I have not been able to make contributions since March as a result of the lack of correction from Vanguard.Business Response
Date: 09/09/2022
September 8, 2022
Dear *** *******:We are writing on behalf of The Vanguard Group Inc. (“Vanguard”) in response to your letter dated August 17, 2022, regarding a complaint from ******** ******** Patterson. For your reference, I have enclosed a copy of your letter as Exhibit A.
Vanguard has responded to ******** ******** ********* directly in writing. If you have additional questions, or if I can be of further assistance, feel free to contact me directly.
Sincerely,
Vanguard Compliance DepartmentCustomer Answer
Date: 09/12/2022
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
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.
Regards,
***********************************Initial Complaint
Date:08/11/2022
Type:Service or Repair IssuesStatus:ResolvedMore info
Complaint statuses
- 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.
My mother had a Vanguard Star Fund (IRA) acct# ****************. She passed away in February of 2022. There were three beneficiaries listed on this account. Myself, *****, and my two brothers, ***** and ****. My eldest brother, *****, was/is acting executer of my mother's will, and contacted Vanguard first regarding this account. We were told that we would need to open an account with Vanguard in order to have the money distributed. ***** opened his account first, and a mistake was made, that deposited all monies into his account. Since April, ***** has been trying to get this matter resolved. He has contacted Brian H*****, Case Consultant Senior Associate for Vanguard, back in April, who assured him it would be resolved. ***** had to re-contact Mr. H***** a month later, asking what the situation was. Mr. H***** responded, apologized for the delay in communication, and was going to take a "deep look" into why it hasn't been resolved. ***** contacted Vanguard again, June 28, 2022, and spoke to another caseworker, "Tom", who said it would take approximately 5 days to process the accounts and have confirmation. No results. My brother *****, has asked that I and **** get involved, as I believe he has run out of patience. **** spoke to a Vanguard representative, "Hilda", on August 10, 2022, who told him the account was listed as "abandoned property". She tried to have a conference call with Mr. H*****, but he was unavailable. We are looking to have this situation cleared up as soon as possible, and to have the appropriate deposits made into our Vanguard accounts.Business Response
Date: 09/19/2022
September 19, 2022
Dear *** *******:
We are writing on behalf of Vanguard Marketing Corporation (“Vanguard”) in response to your letter dated August 17, 2022, regarding a complaint from ***** *****. For your reference, I have enclosed a copy of your letter as Exhibit A.
Vanguard has responded to ***** ***** directly in writing. If you have additional questions, or if I can be of further assistance, feel free to contact me directly.Sincerely,
Vanguard Compliance DepartmentCustomer Answer
Date: 09/19/2022
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
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.
Regards,
*********************
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