NetSpend
Would not transfer funds out and checks for $15,000 never arrived

I opened an account with NetSpend through Ace Cash Express and accumulated quite a sum in two different accounts. I subsequently, set up (and successfully tested) transfer capability between two other banks and NetSpend. Nowhere in NetSpend (or International Bank of McAllen, one of their patron banks) is there any mention of NetSpend not allowing transfers OUT of their accounts. After all, they make a BIG deal of constantly informing you of their ability (and desire) to have your Direct Deposit business, not to mention that nearly every bank in the country now offers this service.

I attempted to transfer a sum FROM NetSpend to my accounts at Capitol One and Bank of America. Since (unbeknownst to me) NetSpend does not allow this, the only response they/their system can generate is 'NSF'. Of course this sent up red flags to Capitol One and Bank of America. Capitol One responded by closing my account. Bank of America responded by disabling my transfer capabilities.

Obviously, I wouldn't have been using NetSpend if I could have gotten a 'regular' bank account, so it really took some doing to get Capitol One and B of A to open an account for me in the first place! NetSpend, at the urging of a B of A supervisor (to her credit) who stayed on a 3-way with me and NetSpend, agreed to send a letterhead to B of A stating that my account was NOT NSF and that they did not allow these type of transfers. They sent a stupid letter saying, 'yes, this persons DOES have an account with NetSpend'! Complete idiots.

After this fiasco, I told NetSpend to close my accounts. They told me it would take 20 business days to receive a check for MY funds. When I called back on the 20 BUSINESS day mark, I was told that the check didn't go out for 10 days after the account was closed.

When I didn't receive the check ten days later, I called back and the supervisor suggested I wait a few more days. Still no check (s). On callback, some idiot named Amos Willard in 'escalations' seemed to think that there was no big deal about the wait and suggested that I wait some more (!).

Next, a man at NetSpend HQ gives me a tracking number for my checks. Looking this up, it appears that the checks (or whatever that tracking number was for) were sent to New York (I am in New Orleans)! NetSpend tried to tell me that I gave them the wrong address, but (a) I didn't give them an address. They already had (which I confirmed many times) the correct address and (b) I received two shiny, new NetSpend cards in the mail just a few weeks before all this.

To date, no checks (total of about $15,000). NetSpend says they will re-issue the checks but that I will have to wait another 20 business days! I have lost a house that I wanted to buy and two checking accounts, not to mention paying bills, rent and eating.

I am very interested in filing a suit and a complaint with the Texas department of financial institutions if anyone knows a good lawyer.

Company: NetSpend
Country: USA
State: Texas
City: Austin
Phone: 8663877363
Site: netspend.com

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