Netspend Complaint - Fraudulent Charges on Account. Company Does Nothing to Protect Customers
AUSTIN, TX -- On 1/19 I received a text message stating that my paycheck had been direct deposited into my account an hour later I received a text message saying that my pin number had changed and if I had not requested this change to contact them.
I contacted them within seconds of getting this text message and reported this to the customer service agent who insisted that no changes to my pin had occurred and said to ignore it that it was an obvious error that he was looking at my account and that I had NOTHING to worry about. I was on the phone with this agent for about ten minutes freaking out and questioning why I was getting this message if NO change had occurred. Despite that he was assuring me that everything was fine I requested to change my pin number anyway and was transferred and then the line disconnected. I then checked the balance and learned that it was $1,000 less then what should have been in it and called right back obviously upset since I was just told to not worry about it.. The next representative told me YES there had been a change in my pin number followed by 4 transactions that equaled $1,000 not including the p2p charges and balance inquiry fees. I was left with a little over $30 in my account. I was told that the change to my pin number and fund transfers had occurred through their automated system WHILE I WAS ON THE PHONE with the 1st customer service agent who assured me to IGNORE IT.
My question was why did it not flag the first representative since I was telling him that I had received a text message stating my pin number had changed and reported at that time that someone was obviously accessing my account.
The representative was unhelpful almost reading from a script. I reported the fraudulent transactions within minutes of when they occurred and was given the run around, no one wanted to help me. I requested to have the funds held and stopped and was told repeatedly that there was NOTHING that they could do.. That they had NO WAY of knowing whose account the funds where transferred to.. I kept asking how can you not know who's account they went to if they were transferred through the automated system it went to another Netspend members account.. After an hour and talking to several customer service reps. floor supervisors and even the dispute department they all concluded that they could do NOTHING to help me, that I needed to write a dispute letter and fax it over which I did do.
My question was HOW could they change my pin number without having my security questions and no one would answer me. What I did learn is that going through the automated system to change the pin number it does prompt you to put in your current pin in order to change it HOWEVER if you don't know your pin number you can choose an option stating that you don't know it and it will prompt you to put in your social security number and bingo you can change it and have FULL ACCESS.. Not much security there is there.
I have since filed a report with the police department who tried to contact them and the customer service agents REFUSED to speak to them or transfer them to a supervisor because they wanted me to be there and I had already left the police station.
I called to verify that they received the fax and was informed by the dispute department that it can take up to 4 days to receive it.. yes you read that right FOUR DAYS ???
I have filed a complaint for identity theft and against the company for their practices with the Federal Trade Commission and a complaint with the Better Business Bureau.. At this point I am still being told there is NOTHING that they can do and that even though they can see that the funds went to another net spend members account that they cannot give me any information that its protected out of confidentially to protect the other member.. My response.. That's right protect the THEFT that stole my money while I was on the phone with the representative being told to ignore it that everything is fine.
I have since reported this to several friends that have used Netspend who have ALL closed their accounts for fear that this will happen to them and its obvious that they don't care about their customers otherwise they would be doing something to help retrieve the money that was fraudulently stolen and yet they are doing NOTHING..
I don't recommend this company there is NO security or protection, you have more security carrying large wads of cash in your wallet.