I have never encountered such crooks in my life as I have when dealing with GE Moneybank! My husband and I purchased a motorcycle and used them as our lender. Huge mistake! The motorcycle ended up getting stolen and if that wasn't heart wrenching enough, GE Moneybank only made it worse. Our insurance company mailed out a check on May 6 to them. We thought it was over with, and no one had called us to make us aware that wasn't the case. We start getting bombarded with phone calls on Saturday mornings at 7:30 am, and whoever the guy was that called was so incredibly narcissist, had no interest in hearing that the check had already been cut and sent, I was fuming mad by the end of our conversation.
Then, we started receiving phone calls every weekend, Saturday mornings, beginning at 7:30 am and if we didn't answer, they would continue the rest of the day. I had 8 missed calls from them in one single day. I contacted our insurance company and they emailed me PROOF that the check was cut and sent, but that wasn't good enough for GE. They wouldn't budge. Our insurance company contacted GE to find out what was going on. Little did we know, GE is tacking on a daily interest rate of 16 % plus late fees for the entire month that all this went on. Our insurance company had to cancel the check and reissue a new one, overnighted it to GE, and they waited a week to process it (yes, fees still accruing that WE have to pay).
Personally, I feel that since our motorcycle was paid off early and they lost out on tons of interest, that they are trying to make up for it by doing this to us. When I contacted them and asked if they would consider reducing fees since none of this was our fault, the answer was a very cold "NO" They could honestly care less about their customers, all they care about is the almighty dollar. I have read so many complaints against them for a variety of reasons, I just wish I had known all of this prior to purchasing anything through them! Hopefully someone out there can dismantle this company and put a stop to this once and for all!
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