NetSpend Prepaid Card Company In Serious Trouble
NetSpend Failure to adhere to their much-hyped promises
NetSpend's "Instant Cash" Lies Inconvenienced Customers Irreparably, FTC Sues, The Free Trade Commission has castigated NetSpend in the USA for failure to adhere to their much-hyped promises to ensure customers had "immediate" to their funds. In tens of recent ads, the leading prepaid debit card providers wowed millions of card users with pledges of expedited money access.
However, FTC's revelations that the corporate behemoth has reneged on its guarantees was greeted with utter client shock and disappointment. In a scathing attack against the unanticipated duplicitous conduct by such a widely trusted player in the money-handling industry, the consumer watchdog body NetSpend to keep their word as a large number of card bearers felt bitterly short-changed.
In an urgently filed lawsuit, FTC alleges that the prepaid card suppliers stalled card activation making it impossible for thousands of individuals to complete vital transactions. Also included in the comprehensive court case is the critical claim that the company even blatantly denied card owners a chance to activate re-loadable cards.
As a result, the accusation documents stress, many people were outright unable to use any money on their cards, leading to unbearable inconveniences after. Other customers, according to the retinue of charges brought against the beleaguered firm, suffered intolerably as they couldn't utilize funds directly deposited from regular paychecks and government benefits.
The commission seeks to have a legal dictum that coerces the renowned plastic cash corporate behemoth to refund every penny it owes disgruntled clients forthwith. Additionally, the plaintiff wants the embattled party to publicly issue an unreserved apology for the regrettably inconveniencing glitch.
As part of the open acceptation of blame that the case compels, FTC states that it's also necessary that the firm gives a statement affirming that they'll do all possible to avert a similar mistake. "...When companies promise consumers 'immediate access, they need to honor their promises", says a portion excerpted from the stinging charge sheet.
Offering further illumination on the ultimate decision to sue the errant company, Jessica Rich (director of the FTC's Bureau of Consumer Protection) emphatically stated that it was their fundamental onus to shield hapless consumers from such scandalous mishaps. Her additional remarks sought to assure any as-yet cash-strapped customers to come forward and lodge complaints with the customer protection organization.
While stressing the opinion that the card provider remained largely culpable, the director turned a deaf ear to the defendant's counter-punches that unfavorable federal regulations were to blame for the shocking user woes. FTC's deliberation to involve the court persisted undeterred by this blame-shifting move, insisting that legal redress on behalf of millions of affected individuals was the only way out of the wide-scale crisis.
The besieged company markets it's prepaid cards in both English and Spanish. The providers guarantee that the document can be used for purchases anywhere Mastercards or Visas are accepted. NetSpend's service provision terms assert the firm provides faster access to cash - "no holds" and "no waiting" with direct deposits such as paychecks or government benefits.
Interestingly, the company also pledges "guaranteed" approval upon application, a strikingly appealing but supposedly "phony" pledge which FTC accuses the defendant of having painfully disregarded to the detriment of the innocent masses.