National Payment Network
You don't need their services in todays electronic world, they will basically steal from you
- 08-16-2011
- 16
I bought a Honda in October and foolishly took the National Payment network option for paying off my loan with Honda Financial. Here was the deal, National Payment Network would deduct payments out of my account automatically and pay off my loan each month. Easy enough. The first payment as another reviewers stated was a little fishy and it wasn't paid on time. Surprisingly they were on time with taking money out of my account however. This ended up to be no problem, I was fine with them floating my money in their system and making some interest, whatever. So just a little background how they make their money, first they float money and take it out well before paying the loan company and second they also take about 5-6 dollars out with each payment for themselves. I am fine with both of these items.
Now for the part that in my opionion is theft. During the course of two years I paid down my loan and ended up paying it off myself this Aug. 2011. Awesome I said, I own the car, the loan is paid off and I don't have to make any more payments. This was correct in the sense that Honda released the lien on my vehicle however, National Payment Center continued to deduct money from my account on a biweekly basis. I called them today to terminate my account and tell them to stop taking my money out of the account. For this I still got charged their service fee on the money they automatically took out of my account and are holding and then on top of that I am getitng charged $25 for telling them the loan is over and to stop basically steal from me now. If I hadn't told them to stop they would have continued to take money out of my account. So I was doing their job for them which was to manage my loan without headache... I was wrong and I got charged for it too.
Tip: DO NOT USE THEM.in the world of internet and electronic payments, you should just sent up automatic payments with the loan institution directly and save yourself time and about 30-40 dollars a year. They are not needed and cause headache and charge you for what they should be monitoring. Companies like this are a sham and should not exist today. I am upset with myself for falling victim to their underhanded and unethical tactics.
Company: National Payment Network
Country: USA
Address: 205 DeAnza Blvd, #94
Site: nationalpayment.net