The letter that was sent looked like they were the bank. There was no mention of the fees associated to this service. I for sure thought it was the bank and provided all my sensitive information! Luckily my loan was transferred off to Well Fargo, so I got multiple letters from both banks. I then looked closely at what I signed up for... And it was shocking!
The very next morning I called the National Bi Weekly company and cancelled my account (they call it deactivated). Since I was able to cancel it within 7 business days, I was not charged any fees. This was quite fortunate.
But this enrollment or service fees was no where mentioned. They have to make it very very explicit that they are not the lender before the customer signs up.
I have to be more careful with mailers moving forward.
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