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Business Profile

Escrow Services

EARNNEST

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Escrow Services.

Complaints

Customer Complaints Summary

  • 1 complaint in the last 3 years.
  • 1 complaint closed in the last 12 months.

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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:12/16/2024

    Type:Customer Service 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.
    On December 11, my realtor referred me to Earnnest, LLC to transfer my earnest money for the purchase of a house. Earnnest, LLC put a $24 fee onto my funds without informing me. Once I made the transaction I saw that they had charged me the $24. Sure, the amount is not significant but the unethical practice is. I immediately tried to cancel the transaction but they refused. I also emailed their customer service asking for a refund of their unethical hidden fee but they also refused.
    My realtor required the fund within 24 hours and it took Earnnest, LLC 6 days to finally put the funds into my realtors account. The transfer was an ACH which should have been much faster.

    Business Response

    Date: 12/20/2024

    1. The payer authorized their transaction on December 11th and then contacted Earnnest support shortly after claiming the processing fee was both stolen and hidden. 

     2. Earnnest provided the payer with photo evidence of the portion of our process that informs the payer of the processing fee *before* authorizing the payment. 

     3. The earnest money was considered paid immediately upon payers authorization (meeting the 24 hour requirement) and funds were available in the escrow account within our normal 1-3 business days.   

     4. Earnnest can't cancel an authorized payment for an earnest money transaction without taking down the earnest money portion along with the fee. We never received that permission from the escrow holder.

    Earnnest processed 170,000 transactions in 2024 and ensured that every earnest money deposit was irrevocable, good funds.  Earnnest is safer than a check or wire, cheaper than a wire, and much more convenient than either option.  Providing value to our customers and protecting their funds are of the utmost importance to Earnnest.  

EARNNEST is NOT a BBB Accredited Business.

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