Complain about a product or service

Buy and Hold

77 Water Street, 6th Floor NY, NY

Stacey of Glendale NY writes (12/20/01):
On Oct. 5th, I purchased $1500 worth of stock from Buy and Hold. The $1500 was taken from my bank account. Three days later, the company tried to take another $1500 from my account, leaving it overdrawn. The bank charged me $120. I was notified two weeks later by the bank.

I called Buy and Hold and spoke with Heather and she then transferred me to a customer rep who then transferred me back to Heather. She said that the company would be more than happy to refund me the $120 and that she would take care of everything. She never called. I called her twice before reaching her. She then said that she wasn't going to help because she worked in the Operations Department. I was then transferred to Dennis, a customer rep and he told me that he needed to research this. He never called.

When I called back, I asked for a manager and I was told that my message would be left for Susan. Once again, I had to call twice and when I finally spoke with Susan she said that I made two transactions. I know I would have remembered making two $1500 transactions. And why would I make a second one knowing that I didn't money to cover the second one?

So, Susan told me that it was the end of the line for me and that I cost the company $1500. I told her that I wanted to speak to her manager and she refused. I didn't get off the phone until she transferred me to Mary Ellen Dunn and she said that she also had to research this. Once again, no return phone call. I called three times before I spoke with Mary Ellen and she informed me that she wasn't going to help either.

I told her to close my account and send me certificates for my stock and she said she would and that I would receive the certificates in two weeks. Two months later, I still haven't received them. I wrote to the founders and the president of Buy and Hold and the Better Business Bureau twice; the Attorney General and the FTC. Noone has bothered to respond.

Stacey should file a complaint with the Securities and Exchange Commission.

Report Your Experience
If you've had a bad experience -- or a good one -- with a consumer product or service, we'd like to hear about it. All complaints are reviewed by class action attorneys and are considered for publication on our site. Knowledge is power! Help spread the word. File your consumer report now.

Share		Follow us on Twitter.

Back to the top | Investing