In 2001 as a new business owner I naively enrolled with SBN solely for the assurance of a $50k un-secured credit card / line of credit. Was I wet behind the ears to give them ACH access to my business checking account for $99.95 'membership'? We applied but were rejected for the credit card / line of credit. I guess I misunderstood the annual auto renewal as we were tapped another 2 times over next 2 years. Customer service is a big misnomer with these folks. Constantly get voice-mail when calling. I found myself yelling in my messages to stop my membership. I felt sort of guilty for letting this happen and I was willing to part with whatever they'd already tapped - not pursuing refund recourse.in retrospect the whole 2001 - 2004 experience was very scammy.
All was quiet since 2004. No mail, no phone calls, no emails - until May when $239.40 was fraudulently stolen from our account under the guise of 'membership renewal'. What a scam. I called SBN customer (no) service 3 times and left more messages, I even pretended to be interested in a new membership to trick them into calling me back - anything to get them on the phone. Then on my 4th try within a couple of days had a real live woman answer the phone. I kept my cool and explained the situation. They still had our address and phone number of previous locations we moved away from in 2007. She said they'd mail me a refund check. I asked for a direct funds reversal to our account and that didn't set well with her. I gave her our revised mailing address for their refund check to be sent but have yet to see it. Again, in retrospect I should have handled my end of that phone conversation better.
I deal lwith a very large bank and have been an account holder since 1984. I notified them the very next business day after I noticed the transaction on-line banking. I got the run around; leave a message here, send a fax here - no email, no electronic trail. Are we back in the 1980's? Then a full month after initial fraudulent transaction and subsequent notification - I am told that the bank would only assist with this type of transaction if notified within 24 hours. The bank doesn't even consider it fraud since I had done business with SBN in the past. I am advised to shut down that checking account and open a new one. What a huge hassle after 11 years of that account with several legit ACH's set up. I was treated like I was the one trying to rip them off for a refund after they rendered services. I have half a mind to drop a complaint on the bank but I like the personal banker at local branch.
I have spent several hours of effort and involved bank resources all to regain $239.40. I am truly at the point of pride and principal for the refund. I hope this report can open some business owner's eyes if proper due dilligence is performed PRIOR to signing up. Do business with SBN at your own risk.
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