NetSpend Corporation Complaint - Unethical Practices Of NetSpend And It's Affiliates
SAN ANTONIO, TEXAS -- I recently purchased 2 gals of gasoline for a grand total of $3.71. NetSpend/MetaBank took $56.00 from my "prepaid" debit account under the pretext that they would have to hold that money until the gas company collected their $3.71. I've contacted NetSpend 10 or 12 times to resolve this issue but got nowhere. They, absolutely, will not accept responsibility for their actions.
It stands to reason that if I had $56.00 in my account; I would have $3.71! What is the purpose behind NetSpends unethical practices?
In doing some research, I have found that MetaBank, who Netspend uses as it's financial institution is in partnership with FSV Payment Systems as is Fiserv, Vericenter, Key Bank, Green Dot, and Allpoint. I was informed that if I use my debit card for gas, hotel/motel, restaurants, etc., my financial institution will hold large amounts of my money pending the businesses collection of said money. This practice is beyond my comprehension and when I confront "customer service" (HAH!!!) they pass the buck and blame the retailer/service provider for holding the money. I don't know about you, but I've had it!
I'm withdrawing my money from all financial institutions and stuffing my mattress with it. It's a lot more secure there than it is in the hands of corporate america!