The complaint has been investigated and
resolved to the customer's satisfaction
Resolved
Meta Bank iAdvance β€” rudest customer service

Review updated:

Iadvance Meta bank, Wow, what I thought was an awesome service and still do has become disturbing... I like the services offered and they are a need but with the customer service I have been provided in the last 2 days I will no longer be using these services... I really like these services but I have never been talked to by any public service or private business like I have in last 2 days. Lied to is an understatement, kept on hold. I was told I would receive a call back in an hour by a supervisor... He sounded like he wanted to help but how can he be a supervisor?? Why would any corp allow or have such a person represents their company... Especially when it is involving someones money... not a product but ones money... after being put off 3 times with promises of a call in an hour I am closing all accounts and the sad part is meta bank just lost a very big account as I work for a very large company and was in the process of referring 150 people to this and 90 were enrolling for sure for direct deposit. Very sad that a company can not find stellar CS reps... Very sad a company can not control this and allows their reps to speak to anyone they way they want to... I think this goes on because most people who use this banking system have bad credit and need this service. I DO NOT need it and think it is sad that people who are less fortunate in money situations are treated differently and with less respect. I do not recommend anyone to use this service or any services meta bank offers as they have no respect when they have control of your money and you need there services. Pay cash get a real prepaid credit card do not fall into this trap of lies and verbal abuse because they think they have an upper hand on you. My self and 2 grown children have been using these services for over a year now and we all are canceling all of our accounts... It was great to use this service for my children and I to send each other money with no fees etc but not worth the verbal abuse and disrespect one receives when calling this office.

Responses

  • La
    LarryinDFW Oct 27, 2008

    I completely disagree with the comment. My partner and I both have been with MetaBank for over 2 years and couldn't be happier. Anytime I call customer service with a question either simple or complex they are extremely friendly, knowledgable and willing to help. I will admit I have experienced high call volume on a rare occassion. I love my card and it couldn't be easier to use. METABANK ROCKS !

    -3 Votes
  • Ab
    aboveparr Feb 09, 2009

    I agree with Emilee Barr, I loved their services, and I used it all the time. However I called the Iadvance dept, and somehow their system stated that my current card was reported lost/stilen. I advised i was still using it, and after 18 calls to cust serv reps, i finally asked for a supervisor and the rep stated "Im a floor sup" then put me on hold while i was still talkin. now idavance stated that their sytem is messed up, and is being repaired by IT. Im definatley "Bankable" now, and will be leaving Accountnow/MetaBank/MyIdvance
    WORST (LACK OF) CUSTOMER SERVICE

    0 Votes
  • Di
    distrustingcustomer(ex now) Feb 20, 2009

    I was expecting a tax refund and was told on two different occassions by two different Customer Service Reps. that all I had to do was fax my 1040 form and put it to the attention of KEVIN, who "works" at MetaBank. Additionally, they advised that because the card has a $5000 limit I need to ensure the balance is such that it will be accepted and not put me over the limit otherwise it will be sent back. After adhering to the instructions I was given, my refund was not available and I am told it may not be available for up to 48 hrs. And that this "KEVIN" actually works for Espree.

    The CSR I spke with initilly on this third call was a floor supervisor; she was Rude and Impersonal and I will definitely seek another agency for assistance.

    I will say that the floor supervisor's, boss was very helpful and was very helpful; however to be lied to and misinformed at any time is unacceptable but especially when it affects my livelihood.

    So no MetaBank does not rock for me it provides lowsy customer service and can not be trusted and STINKS badly. BOOOOOOO METABANK!!

    3 Votes
  • Je
    Jen L Feb 27, 2009

    We've had them for almost 3 years no big complaints really except for this year. Last year was the first time we used the to deposit our IRS refund and it went through fine it over $7000 this totally different story around the same amount was scheduled to be DD on Jan 30 and AccountNow rejected it because it over exceeded the daily deposit limit. UMM why weren't we notified about this last year worked perfectly fine now this year it's different. Well according the CS she said something along the lines of them not being as strict last year but they were enforcing it big time. She also stated that it was posted on their site. Which it was but on the main page the one before you even log in there was a link to click and it was all the way at the bottom of that page saying that the refund could not exceed $6000 but if you looked at the tax link on the page once you signed in w/your last name, ss #, and zip code it says absolutely nothing about there being a limit and of course that's the one I had checked because I never look at the login page I just use it to simply log in to access my account. So now her I am almost a month later still with no return because it has to go "through the system" as the IRS has said and get turned into a paper check which will be mailed some time who knows when. I just really don't understand why they would even put a limit on governement deposits. I highly doubt the government is going to assist anyone with any wrong doings. Although this has really irritated me I don't think I'll be changing anytime soon because other than this I can't complaing

    2 Votes
  • Ch
    Cheryl L. Kelley Apr 13, 2009

    why don't you post an email address to contact you. I have a extreme hardship whereas my stolen card from Account Now went to disputes leaving me without a penney. I need to find out if I can get my line of credit increased. Please email me at [protected]@att.net a.s.a.p. Please.

    1 Votes
  • Tr
    Trish Apr 16, 2009

    Has anyone had luck with iadvance? Does anyone know what the fee is to withdraw cash form the card? How are the percentage rates for iadvance? Looking to signup soon...any help/advice is appreciated :)

    2 Votes
  • Cw
    cw911 Aug 13, 2009

    I agree that iavance Meta bank customer service is very poor and very DISRESPECTFUL. I recently discover that a false report was on my credit report from iadvance and when I called them to tell them about the negative information on my report before I could go into details the rep replies" you need to contact the credit bureau and file a complaint" I told her "you did not hear the facts first."

    iadvance then stated that their system is 30-60 days behind, regardless I never borrowed money from them and was not paid back within 3 weeks, please check your credit statement, because negative reports with iadvance.

    I have had direct deposit from the day I signed up for Meta bank service and occasionally I would borrow from iadvance, but every time my funds is direct deposit they take the funds right at that time. Even when I put the money back with a greendot money pak. I have never owe them any money. But they effect my credit report with that information.

    I have notified all the people that I have recommended and told them to check their credit report and cancel the service because of the customer service rudeness and lies.

    I'm in the process of closing my account with them, but not before they make that correction on my credit report.

    3 Votes
  • Sa
    Sa'vion Aug 31, 2009

    Well I unfortunately have been with Meta Bank for over 2 years. And to be honest and frank and put everything out there. They are the worst customer service attendants I have came across. Not to sound racist or such things, but they hire these foreign people and don't train them worth a damn. They act like they can't hear u, they don't speak clearly and then what tops it all off. It seems as if they (what little training the may provide) seems is not working cause every attendant will tell u something completely different. I had a run in with them today as a matter of fact. And the manager Henry (if that's his real name) was rude, impatient and didn't hold up to what he said. The First time I spoke with him he told me he would call the hotel and give me a call back in a half-hour. An hour and a half has went by so i call...and low and behold I have to be put on hold for over 19 minutes(This is the second call of the day)All a brotha was trying to do was get my little $70 dollars back. Once CSR told me it will take 20 days to get my refund if I can't provide them with my final receipt from my hotel. What do they do in them cubicals? If it's been over a week and I don't have access to the receipt shouldn't they offer assistance to me and contacting the merchant where they placed the hold. To top it off the hotel told me they had faxed them the paper work they needed and they still gave me the run around, telling me it will take 24-48 hours to process after they receive the fax.They holding time is too long, they're not training there employees correctly. They really should be in no position of business what-so-ever. That's how I feel and if u don't like it well stay with them..Well see how long this company last. All my friends I have told abou this company has already cancelled there credit cards with them. Not only because of my experiences but there own. I'm just bold enought to put them on Blast. I warn u please don't trust this company. If u have any question pls feel free to contact me

    2 Votes
  • Ms
    mswhy78 Oct 23, 2009

    I AGREE THEY ARE ALL DUMB ...INCLUDING PLAM DESERT BANK REPS THAT TELL U ONE THING THEN U CALL BACK THEY TELL U SOMETHING ELSE.THEY R STUPID THATS NOT THE FIRST TIME I KEEP GETTING REPS THAT SOUND INDIAN IS THE COMPANY OUTSOURCE.I LOOKING FOR A NEW COMPANY...

    1 Votes
  • Gi
    giverny Dec 17, 2009

    I had a similar horrendous experience with another branch of Meta Bank regarding a debit travel card. Yes, I was lied to as well. Yes, Meta Bank representatives put me on hold for an extremely long time as well. Yes, Meta Bank's internal records were messed up so that I was hurt, but they had access to and use of my money for an extended period of time by their error although they said it was my error. Yes, Meta Bank had several chances to make the situation right, but chose not to correct the situation. Yes, Meta Bank gave outlandish excuses for their internal mistakes. Yes, Meta Bank's actions put me in jeopardy and into a dangerous situation while they held onto my cash money. Yes, Meta Bank had absolutely no sympathy for the precarious situation they had put a person of my age into. Yes, Meta Bank treated me rudely. All the complaining by typing into a computer is not going to help in any way. It seems like it is just other mistreated Meta Bank customers who search this site.

    When I complained to my own State Attorney General's Office, I was told that no one had written in to complain about Meta Bank so they could do nothing! I have read all of these complaints on line so I know that there are plenty of unhappy Meta Bank customers, but since none of you had written in to that office, it did not look like there was any problem to them. Officially, they cannot do anything until you fill out or write a letter of complaint and send it to them. This site may be good for letting off steam, but we haven't gotten any changes in the banking system by doing this. We haven't gotten put into place any new protective laws so that Meta Bank can be stopped from doing this to other people.
    And don't we all wish that someone had done that for us earlier so that we didn't have to experience what we just experienced with Meta Bank.

    What will really help? What will bring about some real change so that no one else has to experience what we have collectively experienced? What will get the job done once and for all?
    If you have received "unsatisfactory customer service" from Meta Bank please write to share your story and experience with the Better Business Bureau of Des Moines, Iowa which is the capitol of the state where Meta Bank is headquartered. If you feel like you have been mistreated by Meta Bank, please send in a complaint to the Attorney General's Office in the state where you live. Please do this as soon as possible.

    If you have been taken advantage of by improper or shady banking practices at Meta Bank, write to let the
    Office of Thrift Supervision,
    Department of the Treasury,
    Consumer Affairs Division,
    1700 G Street, NW;
    Washington, DC 20552

    know about all the details of what happened to you. If all of you write, they will have the "big picture" about Meta Bank and these agencies will be better equipped to stop Meta Bank's negative practices. You will be serving your greater community by writing these letters. What happened to you should not happen to another person. Your letters, one from each of you to each of the agencies above, about your negative experiences will make the right kind of change happen. Write a letter so that your friends and neighbors won't be taken in and have the same negative thing happen to them that happened to you.

    Let's get this stopped once and for all. Let's get some real bank reforms put in place. Ask for the reforms that are needed, but write to the correct people. And if you don't know how to phrase what reform is needed, just ask for reforms to protect and correct the problems you have had, and describe your experiences as you have above

    3 Votes
  • Da
    da_bear Dec 30, 2009

    i am looking for information on metabank for various reasons please email me at [protected]@hotmail.com and please let me know about the pros and cons i need to get my credit started i currently have NONE and i was told metabank is the best way to start good credit email me and let me know please!!! thanks [protected]@hotmail.com

    1 Votes
  • Fe
    FEDUPwithLIES Feb 06, 2010

    I am posting this to alert everyone that using Santa Barbara / Meta Bank WILL ABSOLUTELY cause a delay in receiving your income tax refund. This is the third year that we were told that it would not cause delay however Santa Barbara / Meta Bank sent us a confirmation email that they received our refund on Friday yet as of today we have not received our money from them. Our bank always posts ACH deposits immediately. TurboTax clearly states that using Santa Barbara / Meta bank WILL NOT SLOW DOWN receiving refund BUT IT ABSOLUTELY DOES! DO NOT USE TURBO TAX. I am requesting a refund from Turbo Tax and am still waiting on that too! I recmmend that everyone else in this situation do the same. If they fail to issue a refund I am notifying the Attorney Generals office in Tennessee of their false claims. If the IRS distributes funds on Friday and I do not receive my refund on Friday...THAT IS A DELAY! Common Sense folks!!! http://turbotax.intuit.com/support/kb/e-file/ef-status/1883.html

    1 Votes
  • Ms
    msilva2 Feb 19, 2010

    And the same thing has happened to me! My refund was deposited from the IRS on Feb5, 2010 to this Metabank without my permission. I used a company called Griggs Financial this year and was asked for a voided check. The person that prepared my taxes stated the Irs would directly deposit funds into MY account. Well today is Feb 19th and still no return.. This is my first and last time I will use this co. This is ridiculous. I will definately file a complaint with the Dept Of Treasury.

    1 Votes
  • Wi
    wise eyes Apr 09, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I recently received a replacement Metabank card, PaychekPLUS, from my employer. I was told by my company's payroll office to request to speak with a supervisor when I called to transfer funds to the replacement card. I repeated this to the PaychkPLUS rep who replied "You want to speak to the payroll department?".
    In the course the next few hours, as I was trying to convert the funds on the PaychekPLUS card to cash so I could deposit cash directly into my checking account, I couldn't find an ATM that could "recognize" my PIN number. I then went to a purchase a money order with the card and was told I had too many attempts on the PIN and it would not authorize.
    So, back to a CS rep who told me I was locked out of my PIN for 24 hours. When I asked to speak with a supervisor, I was placed on eternal hold. I called back and tried again. My cell phone died as I was waiting for a supervisor.
    I am the authorized user of this card, I was using the PIN number set up through the PaychekPLUS phone system. Although the STAR ATM system is listed on the back of the card, I couldn't find a single ATM that would recognize my MetaBank product. Oh, and let's not forget the $3.00 charge for accessing my funds at an "authorized" ATM.
    While the MetaBank product in theory is a fantastic tool for payroll departments, in reality it has no effective CS support. Just another predatory financial product to the end user- and that is the subject of another post.

    1 Votes
  • xXCsai May 19, 2010

    I have been with metabank for a little over 2 years now. my only complaint is the HORRIBLE customer service. You have to jump through hoops to get to a live person on the phone. They all tell you different things when you call, and speaking to a "supervisor" is no different than speaking to a customer service rep. There is nothing worse than a company who cannot get on the same page and have no communication amongst themselves internally. the features that keep me with them are the lack of overdraft fees and the ability to transfer funds immediately between friends and family. thank god that there is rarely an issue that prompts me to call customer service.

    0 Votes
  • xXCsai May 19, 2010

    oops, i forgot the mention the biggest headache i have experienced with them. trying to my 'refer a friend' credit... i have exhausted all angles. even though i have referred more than 10 people who now all have direct deposit, i cannot for the life of me get them to credit my account for the referral program. i have given up.

    2 Votes
  • xXCsai May 19, 2010

    EDIT: oops, i forgot to mention the biggest headache i have experienced with them. trying to get my 'refer a friend' credit... i have exhausted all angles. even though i have referred more than 10 people who now all have direct deposit, i cannot for the life of me get them to credit my account for the referral program. i have given up.

    1 Votes
  • Da
    David M.P. Jun 08, 2010
    This comment was posted by
    a verified customer
    Verified customer

    MetaBank issues the cards but it is the card company--e.g., the brand name on the face of the prepaid card--that provides customer service in most cases. And that varies from brand of card to brand of card. I recommend the customer service of the MiCash Prepaid Mastercard. It has great customer service. I know because I work across from the customer service manager, and he bends over backwards to handle any issues that come up. Also, MiCash maintains a 24/7 toll free support hotline.

    -1 Votes
  • Sh
    Sharon Francis Jun 25, 2010

    The very worst customer service I have ever, ever had.

    0 Votes
  • Sh
    Sharon Francis Jun 25, 2010

    The very worst customer service I have ever encountered. Bar-none!

    -1 Votes
  • Do
    don't be a HAta Aug 15, 2010

    Let me help you out!
    1st.. if you read the packet or the brochure then YOU'll know what the card features are.. and PEOPLE starts complaining and whining with out knowing or trying to check what really happened..PEOPLE will just stick on what they believe.. I don't have any against these BANK.. since I start using it.. I loved it.. because I researched and read their TERMS and CONDITIONS 1st.. even buying a box of cereal..you'll 1st read the content right? SO you HATE people if ALL YOU NEED TO KNOW is READ??
    The CSR are polite and respectful.. remember DOGs will Just BITE once PROVOKE..

    0 Votes
  • Ad
    Adrian atomiczx2 Sep 23, 2010

    Ive gotta Disagree with most of the complaints as Ive had zero issues with Meta Bank or I Advance. As a matter of a fact IAdvance has helped me sooo much the past couple of months. I havent had any issues. Ive called customer service for questions and havent had any issues either not even a 5 minutes hold either. Ive noticed most complaints were from 2009, its now almost 2011. Maybe they fixed everything in thier customer service field? anyways Im happy with my services!

    0 Votes
  • Li
    Linda36420 Oct 13, 2010

    Metabank was closed this morning by the Government is what I was told by an Iadvance customer service Rep, Which caused me grief and worry, They didn't even give us notice that this was happening, I have an account now card and I have been using their credit builder every month and borrowing 600.00 for a year now to help me re-build my credit. Now I'am 600 short this month and cant pay my bills, rent, lights etc...I logged on this morning to find out this info, If I have of known this last month I would not have borrowed the 600.00.

    1 Votes
  • Dm
    D-Murder Oct 13, 2010

    Any affiliate w/ Meta Bank. I was customer who had taken advantage of their rebuild your credit history program. As of today they're discontinuing the program w/o any explanation whatsoever. Plus your repayment method on file will remain in their system for I don't know how long. I just viewed my on-line account (account now)& now have pending deductions for more than what was agreed upon. I called customer service to complain, the rep tried to assure me that this was only a 48-hr thing. I'd just called back, the number automatically disconnect the call once you request a representative. I'm on my way to open a traditional bank account, to avoid this ever happening to me again. Plus, I will try my best to post how terrible this company is & pray everyone there will lose theirs jobs. I know thats a mean thing to say, but just the fact they train all this unlawful information to persuade customers to make an extra buck. Especially, how the economy is. If you're one FB...stayed tuned.

    0 Votes
  • aljpromo Oct 13, 2010
    This comment was posted by
    a verified customer
    Verified customer

    RE: Responsibility Dilemma
    The Federal Government has just ordered IAdvance a loan division of Metabank to desist all loan advance activities which has caused many consumers financial distraught due to the lack of consideration for the Metabank customers. Netspend, another debit card issuing company, one of many owned by Metabank, has customer service representatives who deny having prior knowledge of this government order to desist all of its loan operations. IAdvance customers are now in a financial dilemma. Do you think the government (Office of Thrift Supervision) - Customer Complaints and Inquiries should assist the affected customers with recovery for the lacking of notification prior to the shutdown of IAdvance? Do you hold IAdvance responsible for the inconvenience and or damages that created hardships for their customers? Do you think Metabank should be the responsible party insuring adequate and timely notification and financial recovery of its customers? Is the government agency considered immune to penalties and not responsible in the matter of due consideration. Please continue to follow and post your opinions.

    0 Votes
  • No
    NoProblemz Oct 13, 2010

    I have been with metabank for four years now and have had absolutely no problem. It seems because many of you out there mismanage your money you want to blame someone other than yourselves...pay attention to your account, don't give your card number out to anyone or any company without reading their terms/conditions. It's sad that the rest of us who are having no problems at all and enjoy having this service available to us may suffer because of irresonsible people.

    0 Votes
  • aljpromo Oct 13, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Meta Financial Group Toll Free: [protected]
    …Is the holding company for MetaBank, thrift with about a dozen branches in Iowa and South Dakota. MetaBank offers standard deposit products and services including checking and savings accounts. Its lending and investment activities are weighted towards real estate and real estate-related assets; the bank also writes consumer and agriculture loans. MetaBank division Meta Payment Systems (MPS), the company's fastest-growing segment, provides prepaid cards and electronic payment services nationwide. Meta Financial also owns Meta Trust Company, which provides a full range of trust services.

    Meta Trust Company
    Meta Trust CO is a private company categorized under State Trust Companies Accepting Deposits, Commercial and located in Sioux Falls, SD. Our records show it was established in 2002 and incorporated in South Dakota. Current estimates show this company has annual revenue of unknown and employs a staff of approximately 1 to 4.
    http://www.manta.com/c/mmclprn/meta-trust-co

    0 Votes
  • So
    sorry11 Oct 13, 2010

    I am a employee of Meta Bank and the iadvance program. I am very angry and some of the disgusting things some of my customer's are saying about my fellow co-workers! I assure you, this was not a decision made by Meta, and re-assure you that myself or any of my co-workers were aware of this decision prior to returning to work this morning. I find it very inappropriate and disrespectful that we are having OUR lives threatend over this. Again, this was beyond my control or my co-workers control, and for you to take it out on us personally is wrong. I personally appologize for the circumstances that have arrose over this issue, but please remember we all work for a living and we should not have to put up with any verbal abuse or threats over this issue.

    0 Votes
  • aljpromo Oct 13, 2010
    This comment was posted by
    a verified customer
    Verified customer

    What I disagree with is the fact that the Feds can decide to move recklessly and subject numerous customers to threats from family members, friends, and other business personnel. Imagine some of those hospitalized customers assaulted for not paying up on time. Think about those with no air conditioning because the lights are out due to nonpayment. The missed trips and vacations, or even running out of gas on the highway thinking they would qualify for another loan. I'm sure there are many other instances that have hampered the livelihood of many. As an employee you should understand those threatening you may also already have been threatened by others they owe. It is a trust issue. The Feds should consider due process and allow recovery time for the iAdvance customers and allow Metabank to inform customers in a timely manner that they were under scrutiny and may be force to desist loan advance operations. Punitive damages should be contributive on both the Feds and the Metabank officials. I for one have not been threatened or suffered any type of extreme hardship, but those who have suffered as a result of this action should at least be offered extended time in regard to recovery damages.

    0 Votes
  • 00
    001HaPpYcUsToMeR Oct 14, 2010

    I have been using MetaBank for over 2 years. I have never had a problem with them...ever. Earlier this year I started getting some charges on my card that were not mine. I called CS and they explained to me how the process worked. Some of the charges were refunded that day. Some I had to wait a few days to dispute. All contact from MetaBank after the initial call was handled thru the e-mail service provided with the NetSpend account. All e-mails were answered within their 48 hour window. All charges that were not mine were refunded promptly after the allotted time had passed.

    I was offered the use of iAdvance so I signed up for it. My initial amount was $40 and I almost decided it was a waste of my time. After some more thought, I decided to give it a try...not that I really needed the money but I figured I would use it a few times and see if my limit went up. After each advance was paid, the limit steadily increased. All iAdvance loans went without a hitch. Once I had reached my maximum limit I stopped using it. It was nice having a little piece of mind knowing that if I ever got into a pinch, I had iAdvance to fall back on.

    Well, yesterday I was in that pinch. I called the automated system to request an advance only to be routed to CS. I was told that effective 10/13 (the day I called seeking a loan) the service was no longer available. The CS rep sounded like she was having a bad day...which I am sure she had already answered a few hundred calls and had explained the same thing a few hundred times that day. While she didn't seem all that chipper, she certainly wasn't rude or disrespectful toward me. She made sure there wasn't anything else she could do for me before we hung up.

    I am sure I can find a way to get by till next pay day, but having some extra money right now would be really nice.
    I wish I had been notified that this service was going to be discontinued instead of finding out when I REALLY needed the service. Aside from that, I have no complaint with MetaBank and will certainly continue my service with them.

    1 Votes
  • aljpromo Oct 15, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Thank you for your positive input 001HaPpYcUsToMeR,

    I want to share with you a positive finding regarding this dilemma, and later seek out the real reason the Feds ordered the desist on iAdvance:

    Work Cited: http://www.newyorkfed.org/research/staff_reports/sr309.pdf

    Payday Holiday: How Households Fare after Payday Credit Bans
    Donald P. Morgan and Michael R. Strain
    Federal Reserve Bank of New York Staff Reports, no. 309
    November 2007; revised February 2008
    JEL classification: G21, G28, I38

    Abstract
    Payday loans are widely condemned as a “predatory debt trap.” We test that claim by researching how households in Georgia and North Carolina have fared since those states banned payday loans in May 2004 and December 2005. Compared with households in states where payday lending is permitted, households in Georgia have bounced more checks, complained more to the Federal Trade Commission about lenders and debt collectors, and filed for Chapter 7 bankruptcy protection at a higher rate. North Carolina households have fared about the same. This negative correlation—reduced payday credit
    supply, increased credit problems—contradicts the debt trap critique of payday lending, but is consistent with the hypothesis that payday credit is preferable to substitutes such as the bounced check “protection” sold by credit unions and banks or loans from pawnshops.

    Key words: payday credit, consumer welfare, bounced check protection, informal
    bankruptcy

    The debt trap critique against payday lenders seems based on three facts: payday
    loans are expensive (“usurious”), payday lenders locate near their customers
    (“targeting”), and most payday customers are repeat (“trapped”) borrowers. After
    documenting that the typical customer borrows 8 to 12 times per year, the CRL (Center
    for Responsible Lending) concluded:
    …borrowers are forced to pay high fees every two weeks just to keep an existing
    loan outstanding that they cannot afford to pay off. This …”debt trap” locks
    borrowers into revolving high-priced short-term credit instead of …reasonably
    priced longer-term credit (Ernst, Farris, and King 2003, p. 2)

    Contact you again!

    0 Votes
  • aljpromo Oct 15, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Here are some extra agencies to contact:
    http://www.federalreserve.gov/pubs/agencies/default.htm

    here is the information I stated in previous comment as to why this order to desist:

    http://austin.bizjournals.com/austin/stories/2010/10/11/daily60.html

    http://www.getdebit.com/debit-news/4383/metabanks-iadvance-product-paused-by-government/

    http://www.americanbanker.com/

    I think adequate information is provided here.

    0 Votes
  • aljpromo Oct 15, 2010
    This comment was posted by
    a verified customer
    Verified customer

    One area of mention;

    They all knew well in advance!
    We wonder why if the notice to desist was cited in August, why is the October 13th order to desist such a surprise to so many?

    Here we find a voluntary avoidance of admittance, and to properly inform the customers who helped Netspend and Metabank gain enormously in millions of dollars of profits well enough in advance of their foreseeable shutdown by the Feds.

    We the customers were kept in the dark to insure iAdvance collected money owed.

    Had we all been notified (customers) we would have decided to close our account still owing and they (profiteers) all knew!

    0 Votes
  • Wi
    wizdom833 Oct 15, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I brag to everyone about how my account is better than there bank. How I get my deposit's 2 days before them and the lack of problems I have with my account. If I go over $1 dollar I am not charged $45 or more and how happy I have been since 2006 with my account. Netspend is a subsidiary of MetaBank that took over from Inter National Bank. I have been EXTREMELY happy with my service with them.

    With that said, I only recently found out about and started using iAdvance and it has been GREAT!! I have been doing just like most everyone here. I need the money now for car repairs etc. and enjoyed help with my credit. We were not told in advance (pardon the pun) of this for the very reason "aljpromo" stated. If they had most wouldn't of paid back and closed there accounts with Netspend (MetaBank). It was a business decision.

    I DO NOT blame MetaBank myself for this, I blame the Government. They are the one coming in and causing the problem all because they are probably not getting a big enough slice of the pie. If there was a problem with whatever issue the bank/iAdvance was doing they could of allowed time to fix it like they have and do for all the Rich/Wealthy companies and people. Once again it is a bash on the head by the government to the middle/low class because we don't matter.

    0 Votes
  • An
    angryman123 Oct 15, 2010

    this is some real crap, how can they do something like this with no warning...i am on p...offff...ddddd...individual...what a bunch of crapp...

    0 Votes
  • Cg
    CGMorvant74 Oct 18, 2010

    I agree with a great many posters here, the IAdvance arm of MetaBank/AccountNow! was an extremely helpful service. I feel that if the government wants to shut it down that the FDIC needs to pick up the tab for the loans that are presently outstanding this month! Personally, IAdvance had saved me greatly in the past several years. Living on a fixed income, sometimes my expenses are way more than what my Government Checks can handle. I have cut everything but food out of my budget and still have problems sometimes paying simple bills. I am disappointed that MetaBank had to shut down it's IAdvance service without having a suitable replacement for it lined up for people this coming month! I was told by a MetaBank/AccountNow! Customer Service Representative that there are plenty of online services that will deal with MetaBank, this however is faulty information as almost no ONLINE LENDER will deal with MetaBank. All I keep getting is handed to referral services that hand me to endless referral services without gaining me one cent in my account! At least with IAdvance I did not have to deal with that headache, when I needed money, I had money! The Federal Government may see this as protecting people, but, this is not protecting anyone!
    Does anyone know of a Faxless Payday Service that deals with customers of MetaBank? If so, email me at [protected]@hotmail.com

    0 Votes
  • Pe
    peter v d Oct 19, 2010

    I had a credit line of 560 dollars i put the car in the shop today knowing i had that credit line set up only to find out this morning that the service is now gone. Not one dam letter or even a email .I am sure there will be people unable to pay there light bill food what ever it maybe with that said i would like to give someone an old fashion Brooklyn beating for the lack of respect of us customers That have been paying those high interest loan fees. In fact all of us netspend customers should leave them and go with one of the many other debit card company's out there dam walmart has one with direct deposit and all fees are half of the fees netspend charges i will end with i feel this company has done us all wrong and the only word that comes to mind is jerk offs

    0 Votes
  • Ve
    vertis59 Oct 23, 2010

    I am thinking about checking out micash, but here's what i understand i have a netspend card i'm supposed to deal with netspend 1st then metabank if netspend can not help me

    0 Votes
  • Ve
    vertis59 Oct 23, 2010

    o.k i really like my netspend card and i have had no problems till now.on November 28th my wife's car broke down, 275.00 too fix it so i went to iadvance and hoping to go back next month and get maybe a 150.00 just to soften the blow . but the government has screwed that up.we need to dump the republicans and democrats and vote independent.

    0 Votes
  • Mo
    moniquej Oct 25, 2010

    I don't like them either its a prepaid card so how is it that they told me that I over drawn my account and that I owed them money I closed my account and told them to wait on it

    0 Votes

Post your comment

    By clicking Submit you are agreeing to the Complaints Board’s Terms and Conditions

    IN THE NEWS

    Unhappy consumers gather online at Complaintsboard.com and have already logged thousands of complaints
    If you see dozens of complaints about a certain company on ComplaintsBoard, walk away.
    One of the largest consumer sites online. Posting here your concerns means good exposure for your issues
    A consumer site aimed at exposing unethical companies and business practices
    ComplaintsBoard is a good source for product and company gripes from especially dissatisfied people
    You'll definitely get some directions on how customer service can best solve your problem