NUF is an insurance sign-up scam that involves your bank. They claim that they have a "phone authorization" to begin a life insurance policy and make automatic deductions from your bank account every month. These payments can be anywhere from $5.99 to $33.99. Sometimes even more. It doesn't matter if you told these people "no" or never received the phone call at all. Suddenly your "one free year of coverage" is over and these deductions start showing up on your bank statement. The ambiguous item on your statement is listed as: Nuf Ad Insr 888 and the amount of the withdrawal. It is easy to miss when reviewing your statement. NUF never sends any information about their insurance. You never receive a policy explaining the type or amount of coverage you are paying for.
If you didn't order this insurance, how did they get your information to authorize the automatic payments? From your bank. If you bank at US Bank, they will sign you up and pass on your information authorizing the deductions for you.US Bank's parent company is the insurance giant AIG. I understand that Wells Fargo has facilitated this scam also, as well as some credit card companies, other banks, telemarketers selling life, auto, home, business, or any other type of insurance
If you call your bank about the charges, they say it is not their problem. You have to call the insurance company. Oddly enough, the bank has the phone number to NUF. There are several phone numbers and none of them get you much of a response. Sometimes they are disconnected, or on an endless loop of automated menus. If you do finally get a live person they transfer you around from person to person then put you on hold for another department and wait until the system hangs up on you with a dial tone.
Call the Better Business Bureau, Department of Insurance (in your state), the Banking Commission, the fraud department of your bank and threaten to sue if they refuse to give you back your money. You have only 60 days to report this fraud but if you act quickly you may be able to get a full refund. Demand that you get satisfaction from your bank.
Remember: Always check your bank statements carefully. If there is ever any charge or withdrawal on it that you can not account for, call your bank and ask to whom the payment was made. It doesn't matter how small or large the amount is—you have a right to know and the bank must give you the information.
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