I recently opened up a World Market account in order to take advantage of some discount benefits.
Before I continue let me note that I have processed hundreds of online payments directly from my checking account over the course of the past 7 years and have not once encountered any issues or incurred any fees of any kinds.
This was my first experience with GE Money and processing payments through them.
About one week after I opened the card and used it, I made two payments to my account - one from a savings account and one from my checking account. Both payments added up to the full balance due (this was before I even received my first bill, so well before any payment was due).
The checking account payment showed up a day or so later; however, I noticed the savings account payment had not yet processed and it had been over a week. I then called GE Money and was informed that the payment "bounced" and I was charged a "returned check fee" because they were unable to locate the savings account from which I was trying to make the payment. Apparently the routing number was inaccurate.
There have been one or two other times where I mistyped a routing number on another online payment and was immediately warned that it could not be found. I wasn't even allowed to attempt to submit the payment. I also noticed that once I confirmed with my savings bank what the routing number was and once I re-entered the payment on GE Money's website that when the correct routing number was entered, it confirmed the bank account and displayed the bank's information. So clearly they have some sort of validation that checks that the account and routing number exist.
At this point, I now had a $39.99 returned check fee on my account that they would not refund (though I was told that they would change it so it would not affect my credit - how sweet of them...).
I then proceeded to make the $39.99 payment out of my checking account (remember, I had already made one payment successfully from that account and the information was now saved on my GE Money account). I selected my checking account from the list and made the $39.99 payment. Sure enough, a week later, it still had not processed. I gave it another couple days and then noticed that, YET AGAIN, it had "bounced" and I had another $39.99 returned check fee on my account.
I called immediately and after a little complaining I was able to get that second fee removed and made another payment (with fingers crossed, of course) for the first $39.99 fee. Thankfully, that one cleared.
My understanding of "returned check fees" is that it occurs when when a bank rejects a withdrawl because there are insufficient funds.in all instances mentioned above, there were more than sufficient funds (as confirmed by my bank). The issue was that GE Money supposedly was unable to locate the account in the first place. Apparently a transaction that never occurred and that my bank was never aware of costs them $39.99 - a cost they need to pass on to me.
I have never heard of this before and have never encountered this.
Oddly enough, last week, my sister had the same exact problem when attempting to make an online payment with GE Money - and, unforunately for her, by the time she was notified that the payment "bounced, " it was also overdue so she was charged ANOTHER $30 as a late fee.
I will no longer be using this card and will not sign up for any other accounts through GE Money. Their practices are dishonest and their customer support is not very helpful and it is difficult to communicate with them.
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