Where to Report Worst Banking Practices?

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s.jessica
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Where to Report Worst Banking Practices?

Postby s.jessica » Tue Jan 28, 2014 7:01 am

Recently I posted about GoBank, which is looking more like a scam all the time. Where can I report these people to?

Okay, first they make you start with a $50 minimum opening deposit and I had to make this deposit using my current bank's debit card. GoBank was then supposed to send me a debit card which they didn't. I've now reported card not received for the second time and this time they said I would be getting my card Feb 7. This is the worst bank I've ever heard of, they make you deposit $50 to open your account then hold your money hostage until you activate your debit card which I never received.

It seems they expect you to pay $9 for a custom debit card then voluntarily give them a monthly fee for 3 months while you wait for your card and can't use your account. Whoever heard of this before? GoBank says first I have to receive and activate my debit card then I can close my account, but they'll charge a $7 fee to send me a check.

They said my best option would be to make purchases with the card down to $0, if I use the ATM I can take out $20 or $40 but I can't take out $50. If I go to WalMart I can load a minimum of $20 cash for free so they say, but if I load $30 for free then I could take out $80 from the ATM. Would that be my best option? If I try to make a purchase, I might end up leaving a couple dollars in the account and I don't want to leave them anything.

Right now my mom wants me to admit that I did something completely stupid and irresponsible. She said my $50 is unrecoverable and lost forever. I'm wondering if filing a complaint someplace would get GoBank to get off their duff and send me that debit card. I get so sick of failing then my parent's step in and do stuff for me like I'm some little kid.


MemberSince99
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Postby MemberSince99 » Tue Jan 28, 2014 7:13 am

I would think you could report them to the FTC but speaking from experience that's just a complete waste of time in terms of getting your money back.


Also, there is the CFPB which I've had better success with though I'm not sure even that will get you your money back.


In terms of getting that back, you are probably realistically out of luck. The scammers out there know how much they can screw you out of without it being worth it to most people to take legal action against them.


It does sound like a scam. Just a dumb idea. You'd be better off with Bluebird or something like that if all you want is a card you load with money at least you'd get that rather than get fee'd to death.


I would not put any more money into that if I were you just use what you can and then let it go. I'm not even sure why you would want this in the first place it doesn't sound smart to me to pay people to have access to my own money when there are better alternatives.


Call it a 50 dollar education in life. I've paid a LOT more than 50 bucks for many of my own educations. You got off relatively cheap. In time, you will learn to distrust everyone and everything and become cynical and bitter in life, and will struggle to keep from sarcastic laughter as some people preach about the more "noble" sentiments wondering how they are trying to lift your wallet with the strength of their BS. Be grateful you aren't there yet - it will come.


And as for your parents, I'm sure they had plenty of failures too along the way. We all do that's how we learn.

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Postby jumbo » Tue Jan 28, 2014 9:50 am

Well said MemberSince99
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djrez4
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Postby djrez4 » Tue Jan 28, 2014 1:49 pm

Banking matters get reported to the Office of the Comptroller of Currency.

You actually can get your money back from GoBank, but expect it to take a long time.
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cashback
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Postby cashback » Tue Jan 28, 2014 4:27 pm

Wait till you get the card and spend the money. I think you're making this more than it needs to be. It is only $50. You can wait the 2 weeks. I can assure you, any action you take against GreenDot will take a lot longer than 2 weeks.

Chalk it up to a lessen learned to stay far far away from GreenDot products. They are in the business of nickel and diming poor/uneducated people.
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MemberSince99
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Postby MemberSince99 » Tue Jan 28, 2014 4:54 pm

That means I'm their target market! Me N Turtleman, Ernie Brown Jr. we ain't never seen a card we don't like. We dun gradiated the 3rd grade together n we been chasin turtles n snakes n beavers ever sense!

s.jessica
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Postby s.jessica » Wed Jan 29, 2014 1:17 pm

Let's see, I sent them $50 and 14 days later no debit card, so I contacted them and they said they would send another right out. I waited another 14 days, still nothing so I reported "debit card not received" via my online account and they said it would be sent again and I would receive it by Feb 7.

It just seems that rather than make money off of long term serious customers they want to make a quick buck off of suckers who open an account. In my case they get interest off my $50 for 2 months while they screw around getting me my debit card which shouldn't ever take more than 7 to 10 days. What's worse, they want me to set the slider to voluntarily give them $7 a month for a service I'm not even getting hoping I forget about the $50 and the fees eat it up. Next they hope I spend $9 on a custom debit card which I didn't. A minor thing for me at this point, it seems if you photo deposit a check using the mobile app, it can take up to 2 weeks for the check to go into your account and people have reported having a paper payroll check held for 2 weeks. Not an issue for me but still if you get mad and close the account, they made their money off of you as people who work for a small wage are only going to be profitable to GoBank when they open their account, after that, GoBank could care less if you close it.

What you have to search and search for is GoBank has been known to shut people down for stupid reasons. In an online chat, I was warned if I go to WalMart and cash load $50 on the account then load another $50, I risk being shut down for suspicious activity. Instead they said to spend the card down close to $0 then load what I needed but don't load again until the card is close to $0. That's just plain stupid, what kind of bank says you can't keep making deposits if you aren't spending money? What's even worse, GoBank won't tell you about this in advance you just get shut down without warning and left wondering what the heck just happened.

For once in my life I wanted to do something without my parent's help and failed. I get so sick of having to use the bank they said to use and the only reason I can get from them is "because I said so." I get tired of them watching every move I make because they are scared I will make a mistake. I can't go anywhere or do anything without being questioned about what I was doing. Does anyone know what it feels like to have to step aside and let your parents fix things for you?

Can you believe my mom asked at the bank if they could require another signature with mine to write a check? Normally I write 1 check per month and that's for rent. This place only accepts checks, cash and money orders for rent payments and I have to go to the office and pay in person. Everything else, I pay online. If I use a credit card, I pay those online, I've never sent a check in years.

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Postby cashback » Wed Jan 29, 2014 3:42 pm

How old are you
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Postby TheLethargicAge » Wed Jan 29, 2014 8:27 pm

Just get an eBanking account from BofA. No fees as long as you do all transactions on an ATM or online.

First, you co-signed on someone's car loan without even knowing it and now you get scammed by banking with some fly by night operation. No wonder your parents don't think much of you.
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Postby djrez4 » Wed Jan 29, 2014 9:04 pm

TheLethargicAge wrote:First, you co-signed on someone's car loan without even knowing it and now you get scammed by banking with some fly by night operation. No wonder your parents don't think much of you.


You're not helping.
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