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Netspend Corporation / withdrawl of money fee scam

1 United States Review updated:
Contact information:

I have been a Netspend customer for 3+ years. I choose to come to them due to the ease of using the cards and the minimum fees. I went into an ACE location yesterday to withdrawal money for my rent total $1200, I was told that there was a new rule in place and they now charge to withdrawal money after the first $300. This immediately alarmed me because I have not received an email, mail or text notification with any of this information. Although I did receive an email notification of their new elite program, I found this extremely odd. I asked why did they not inform their customers his response was that it was posted on their website. I said well this does not justify sufficient notification, many people don't have regular access to a computer, and furthermore why go online if you can send a text to them for your balance? The ACE employee of course could not answer. I then asked what the fee was he said 2% of the withdrawal - I WAS IRATE AT THIS POINT. TWO PERCENT OF THE $1200 AFTER THE INITIAL $300 (i WAS CHARGED ON THE $900) TOTAL FEE $18!!! I am still pissed off - what a rip off. I told him they are only doing this because income tax is coming and people are going to be pulling of large amounts - if you have $5000 being pulled out after the $300 they don't charge for that is $94 - that is a lot of money. I was thinking what if all I had was the EXACT amount I needed for my rent then I would have been short because of Netspends horrible business practices. At minimum they should notify consumers at least 1 month ahead. He said they try to compensate by the lower $5 fee vs the $9.99 fee - there is no comparassion - they are trying to get over because they feel that most people that have this card needs it because they can't get a bank account. I chose to get this card because of the ease of use and no hassles with the bank. I make between $3200 - $3500 a month I am not trying to throw money away by paying ridiculous fees to access money when I need it. It's not even reasonable withdrawal limit. Most banks allow $500 minimum withdrawal limit without any additional steps. I am outraged and will be closing my account before my next direct deposit. I refused to be taken by this monster of a company. This is truly a scam! I will be checking to see if they broke any laws by not providing sufficient notice of their changes. If they did I will be reporting them to every appropriate agency.

Bs
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Comments

  • Al
      15th of Jun, 2009
    0 Votes
    netspend corp - Did no apply or authorize charges
    alexander ramirez
    1775 n.e 37 th ave.
    Miami
    Florida
    United States
    Phone: 3052836583

    I did not authorize and credit card set up charge for 99. 00

  • Al
      15th of Jun, 2009
    0 Votes

    please refund my account

  • Ba
      14th of May, 2011
    0 Votes

    I know that by law that they do have to give notice of any changes made, depending on what card you have they are all actual banks but locates in Texas, I had a run in with them today because their systems are ordering cards without the card holders permission, though they are coming to use its a pain in the ###. I threatened to report them and start a class action law suit, and they seem to jump and seemed be alot more nicer to me, what bugs me is that most of these employees are out of country and can not give you an answer to save their lives they are reading from a book, Ace check cashing employees are not employees of net spend and can not help you answer questions only what they are told so my advise to you is that you write the bank and send it certified and let them know that they a in breach of informing the card holder of any changes I know you probably resolved this cause your post was 2010 but if you know the laws it makes it very easy to have a netspend card and get your way.

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