Checking or savings account -- Managing an account -- Complaint #8460087
Complaint Overview
Complaint ID: 8460087
Company: Netspend Corporation
Product: Checking or savings account
Sub-Product: Checking account
Issue: Managing an account
Sub-Issue: Deposits and withdrawals
State: Texas
ZIP Code: 776XX
Date Received: 2024-03-01T12:00:00-05:00
Date Sent to Company: 2024-03-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I had an account with Netspend for several years with no issue whatsoever. They eventually offered me a secondary card through XXXX which I applied for and received, again with no issue. I had the open account for a few months but had never deposited funds towards yet. I ended up transferring funds from my XXXX account into the account i/a/o approx {$360.00}. I made 1 purchase for {$150.00} or so and had attempted another which was declined. I received notification from Netspend that my account had been locked for some reason but which was not explained. I had {$9.00} left available in the account and {$210.00} from the declined transaction which was still pending. For no obvious reason, Netspend decided I was now no longer eligible for an account with them. I was calling several times a day in the attempt to resolve whatever the issue was and also regain access to my funds. It took many calls to even get any kind of explanation and I was told it was because the transaction I attempted was prohibited by them. Im not sure how I was supposed to know the purchase or merchant was prohibited, because it was never specified or explained in advance. I was not trying to buy anything illegal or questionable in any way and nowhere on their site or XXXX XXXX XXXX XXXX does it state which merchants are prohibited. It also doesnt specify anywhere that simply attempting a transaction with a prohibited merchant will make them close your account immediately. They closed both my original account and the XXXX account. I was sent a check for {$9.00}, which wasnt even the full balance of my account, as well as a check for {$79.00} which was the balance of the first initial account. It took another 2 weeks to get a 3rd check for the remaining {$210.00} I was owed. I brought the checks to XXXX to cash them and couldnt because they wouldnt said the checks were probably not even good. So I'm stuck with XXXX checks I cant even cash to get my funds. Since then, Netspend has sent me 2 account offers with debit cards. One account offer was for an " upgraded '' account through Netspend and the 2nd was another card through XXXX. I was unable to actually activate either card when I attempted, and would get directed to their customer service and told again that I was no longer eligible for an account. Then why send the damned cards in the first place? I didn't do anything wrong to even warrant that determination and they refuse to reconsider the information based on the truth. Im stuck with 3 checks from them that I cant cash and they refuse to acknowledge they made a bad decision and reconsider the situation.
Frequently Asked Questions
What is Complaint #8460087 about?
Complaint #8460087 was filed against Netspend Corporation regarding Checking or savings account specifically about Managing an account. It was received by the CFPB on 2024-03-01T12:00:00-05:00.
How did Netspend Corporation respond to this complaint?
The company responded with: "Closed with explanation". The response was not timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Checking or savings account) and describe your issue in detail.
Can I see other complaints against Netspend Corporation?
Yes, visit the Netspend Corporation company profile at readthecomplaint.com/company/netspend-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.