On October 19th an unauthorized ACH debit hit my account and wiped it out. The transaction was from a payday loan company. I was told an investigation would have to occur and I needed to complete a form and return it. I closed the account with 50 bucks balance and a new card was sent. 8 days later I do not have a new card. And my 60 bucks is nowhere to be found. My new account doesn't show it. I returned the form the following day along with other information. I have no money and have had no money for a week now. Almost $300 is tied up. First and foremost this was a fraudulent transaction. Secondly, the terms and conditions of the account are clearly stated:
"prepaid card account and associated direct deposit account number cannot be used for preauthorized direct debits from merchants or from utility or Internet service providers. If presented for payment, these pre-authorized direct debits will be declined and your payment to the merchant or provider will not be processed. The bank routing number and direct deposit account number are for the purpose of initiating direct deposits to your prepaid Card Account only."
Accountnow processed a transaction from the payday loan company that they should not have processed. The banks seem to follow their policies when they are beneficial to them. They clearly stated they would never process a ACH debit transaction. When I asked I was told that I did not understand. I was dismissed. If they would follow their own policy they should have immediately issued a credit. This was a bank error as well.
I then asked for a provisional line of credit the terms are clearly stated, and if you look at my account I receive three direct deposits a month. I am a low risk. Yet, they refuse to look at this and I could not get one person their to hear me and ask for an exception. They told me it would take ten days for a provisional credit. Tomorrow will be eight days and my electricity will be cut off. I can't wait ten days.
I have called the risk management department and it is obvious no one has worked on my account or even looked at it yet. And as always if anyone took the time and effort and read what I have been saying or heard me they would come to a quick conclusion.
I believe that I should have an instant reversal on this account and they need to waive all fees for the next twelve months on this account since they have been so egregious in their handling of this matter.
I truly am suffering. And there is more to come in the next week. Customer service is deaf. Risk management assumes the customer is a liar. It is obvious from their attitude towards customers.
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