Immigrant brothers from Mexico, Bert and Roy Sosa, were attending college when they realized that many of their friends were unable to purchase items online because they had no credit cards or bank accounts. Using their pooled money of $750, they founded Netspend in 1999.
While the Sosa’s originally planned to sell their prepaid cards to students, they quickly realized that they could reach a much larger base by offering them online to anyone without a bank account, credit card, or those who don’t want to deal with those institutions but need another option to purchase items besides cash.
The company offers a prepaid Visa or Mastercard, which requires a small fee to open the account and charges a fee each time it is used. Netspend recently partnered with Family Dollar and 7-Eleven to sell their cards in their stores.
Netspend accounts can be managed online or via mobile phone apps. The company was acquired by TSYS in 2013 for $1.4 billion in cash.
In October 2018, the company experienced a technical issue that prevented an unknown number of cardholders from accessing their accounts or the ability to withdraw cash.
In October 2020, the parent company Global Payments stated that the company was considering selling off NetSpend.
Some Netspend users are unhappy with the service and they move their money to PayPal instead.
Headquarters for Netspend will remain in Austin, Texas.
Netspend
Immigrant brothers from Mexico, Bert and Roy Sosa, were attending college when they realized that many of their friends were unable to purchase items online because they had no credit cards or bank accounts. Using their pooled money of $750, they founded Netspend in 1999.
While the Sosa’s originally planned to sell their prepaid cards to students, they quickly realized that they could reach a much larger base by offering them online to anyone without a bank account, credit card, or those who don’t want to deal with those institutions but need another option to purchase items besides cash.
History
The company offers a prepaid Visa or Mastercard, which requires a small fee to open the account and charges a fee each time it is used. Netspend recently partnered with Family Dollar and 7-Eleven to sell their cards in their stores.
Netspend accounts can be managed online or via mobile phone apps. The company was acquired by TSYS in 2013 for $1.4 billion in cash.
In October 2018, the company experienced a technical issue that prevented an unknown number of cardholders from accessing their accounts or the ability to withdraw cash.
In October 2020, the parent company Global Payments stated that the company was considering selling off NetSpend.
Some Netspend users are unhappy with the service and they move their money to PayPal instead.
Headquarters for Netspend will remain in Austin, Texas.
I received a check for almost 4000.00 dollars signed by Beth Deck the CFO of NETSPEND and it was returned because NETSPEND said it was unauthorized. I have been waiting since July of 2023 for this money to be returned to me. There is so much unnecessary bad customer service that has v gone along with being paid money that is mine. Luckily Leah Campos stepped in and was a miracle send and got the check refund sent to me. But now the company doesn’t honor the check. This money was literally being used to move into a new residence for my mother and I and she is terminal. I am literally removing all the stuff that we moved in right now because I had to notify company that the check ii wrote for the deposit and 1st months rent was going to be returned so it didn’t like I was being fraudulent with writing a bad check that was to be cashed on the 10th of this month. So we were asked to vacate the property. I don’t understand how all of this has happened. But it needs to be resolved and I’ve called and emailed since yesterday and no one has got back to me.
I Eugenia Brooks, demand you return my funds you stole from me NetSpend when you closed my account. The check you sent me was a fraud and I am demanding my money back every day that goes by you will be charged 1000.00 dollars as I am in need of my money to pay my bills and such. This started 7/11/2022 until now.
The Customer Service is horrible. They make you hold on for 20 minutes and they are completely rude they also have messed up with my benefits and won’t follow simple instructions.
This company is full of sh*t!! They have p*ss poor customer service skills! Nobody know anything! How can you have a secure cc company and you customer acct. is ALWAYS GETTING COMPROMISE!!! I had to order 3 different cards because of this! This is an inside job. ONCE ALL MY MONEY PULL OUT OF THE CORUPT COMPANY, I WILL BE FILLING A COMPLAINT WITH BB AND FILLING A SUIT!! This is uncalled for business practices
Been a customer since the beginning. The last two years things have gone WAY DOWNHILL with Netspend! Rude customer service…I was called “Mommie” by an agent. My account has not been settled for 4 days now…all transactions are still pending!! WHAT kind of banking system do they run??? I now have 3 OD charges of $20 that should have never been charged. The agents tell me they can’t fix it,,,BS!! I am sitting here “WAITING” for a supervisor to come on the phone…..bet it never happens. They know most people will not wait, but I’m retired, so I have the time. I have been recording ALL the LIES the agents have feed me for the last 4 days!! I am sure a small claims court would love to hear the recordings!! Time for me to dump Netspend…..
I’ve been a customer for over 10 years with ALL MY 6 card.. I submitted a Dispute on 1/17/2022 for a provisional CREDIT.. I’ve NEVER EVER WAITED OVER 30 DAYS.. EVERY TIME I KEEP CALLING AFTER EACH 48-72 hours that 5 from AGENTS/SUPERVISOR.. Left hand doesn’t know what the Right hands DOING…Please, RESOLVE THIS!!!
By far the most un-professional & lazy customer service team we have ever had to deal with. Over 3 hours on hold with them and my issue still didn’t get resolved…I swear Ur Better off banking with Burger King or something. Switching to CHIME church
I am having the same issues. with Netspend card they are stealing money and blocking my cards. and not helping me at all, i am getting charges from unknown places. i have been trying to resolve the matter since 05/31/22 til now. I’m sick of them I’m filing charges and im suing if I can. I heard the last representative laughing in the background at my situation, and he had me on hold fo 50 minutes, and never came back to the phone. Of course, the stealing is a inside job.
I have been fighting with this company for over a year now . Someone opened an account in my name and filed my unemployment and my stimulus and got it all deposited on the NetSpend account and they don’t see any fraudulent issues. I have filed charges through my county police department and through the IRS and the TWC workforce center and still they won’t do anything. No one knows anything but my account is closed and no one can do anything about it. I need to know what I need to do to take care of this. Hire an attorney, I can’t afford?
I am having same problem so maybe class action is the way to go. They were sued and paid out in 2018. Looks like the company doesn’t care.
Sir,
I am a Government Contractor that travels a lot depending on my contract. I recently closed my account due to fraudulent charges that was being charge to my account by amazon which I filed dispute claim and to receive a new card. Well now I’m having a lot of trouble with the customer service guys who will not open my account nor will they send me a new card. they refuse to accept the documents to verify me.. I sent passport, sorts of documents that will prove its me. Now I have over 3,000 dollars in the amount which they recently blocked.. the customers service guys are rude, they talked about me in another language that my wife understood. completely not appropiate. I need help please
Netspend closed an account a couple of years ago and stated it was because they couldn’t “verify my identity”. A vendor deposited a $500 payment into that closed account. Instead of Netspend sending the money back, Netspend thought it prudent to KEEP my money. I am looking to escalate this into legal action. Please feel free to reach out to me if you like. I am very serious about filing a class-action suit.
Usamah Mustafa
usamah360b@ gmail.com
314-445-XXXX
I am having same problem so maybe class action is the way to go. They were sued and paid out in 2018. Looks like the company doesn’t care.
#METOO…
My account was fraudulently used on Augusta 9, 2021 for $1017.00 I filed a police report and they have the crooks on camera. Net spend is denying my dispute saying that they see absolutely nothing wrong on the transactions that were made and they said I’m the one benefiting from it. In other words they think I’m stealing my own money. I’m now filing a case thru small claims court to demand my money!
REPORT NON
ETHICAL
THIEVESPEND TO THE FEDERAL TRADE COMMISSION, BETTER BUSINESS BUREAU AND WHOEVER ELSE THAT WILL LISTEN. THE PUBLIC NEEDS TO BE AWARE OF THESE THIEVES. I HAVE SUBMITTED MY COMPLAINT TO THE FEDERAL TRADE COMMISSION. THEY HAVE ALREADY HAD A CLASS ACTION LAWSUIT AGAINST THEM FOR PRETTY MUCH THE SAME THING. STEALING AND KEEPING PEOPLE’ MONEY. THEY ARE THIEVES!!!
DO NOT TRUST THIS WICKED COMPANY. THEY DO NOT RETURN YOUR MONEY. FRAUDULENT BASTARDS. THEY ARE KEEPING OVER $1700.00 DOLLARS OF MINE!!! RUN DO NOT WALK. PLEASE CONTACT ME IF THERE IS ANOTHER CLASS ACTION LAWSUIT!!!
Hello, They have got me to. I need to file a class action lawsuits too you can reach me at gg.brooks@ yahoo.com.
My account is locked and has been since June 25th I have tried everything I know to do to get my money back since my account was locked I’ve lost my place to live and everything I owned ,I’ve tried emailing what I have begged pleaded tried everything now I’m contacting an attorney.
I am having the same problem did you ever get your money
These dirty bastards have had a multi million dollar lawsuit against them previously. There needs to be another one. They are VILE. The public needs to be made aware of them seriously.
I say we file ANOTHER class action lawsuit. We need greater punitive damages.
Let me know if there’s a class-action lawsuit, Netspend is crooked and they are liars. I read each inquiry and all these things are happening to me today, they have been stealing my funds since I opened the account, please help
Same sh*t with me they are frauds
I have had the worst experience with this company to date. I filed a dispute with my account on 5/28/21. Prior to this I notified them of fraud and they should not have let the 15 transactions go through to begin with. I am now out of over $300 and here we are a month later and they did everything all wrong on their end so now with no results I have sat on the phone over 2 hours being transferred around and told I’m SOL and they can’t do anything. They opened a whole new dispute and think I am supposed to wait another month because the original rep screwed everything up. In the mean time I have a phone that was disconnected and had to shut everything down AGAIN. This is outrageous. I filed a BBB COMPLAINT and I am still here on hold for a supposed manager of the supposed manager I just spoke to. Calls are recorded and I have sent numerous emails within this past month regarding this already. I want my money returned or I will contact attorney general and whoever else.
I agree with you 100% this company are frauds
You have to sue them in small claims court because there’s such a piece of crap corporation that they don’t care about anything but profit.and they’re not just going to do the right thing even when they’re in the wrong! They recently cashed my $1,400 stimulus check put it in the wrong account and told me too bad not our problem.
I had just deposited 11.650.00 and I used the ATM 3 times and they locked me out now they shut down my account after I sent them all the paperwork they demanded and this money was from rental assistence and now I am being evicted because they won’t give me my money back please help me with this My name is Michael Lontine phone number 442352XXXX I need to get this money out so I am not homeless
Well Netspend wont allow a deposit to go thru on my card because its not in my name. Back in March the allowed a deposit to be made in the same persons name. They kept sending me different cards
I never requested any of these cards. My friend has been waiting on his taxes since February 2021. In M March 2021 they alliwed his state tax to go thru. Now they’re saying that theyre sending his federal taxes back. Some sh*t about the system rejected the deposit.
I’m having the same issues they locked my account holding my money won’t help me won’t let me speak to a supervisor and I’ve done all I can do I’m filing a lawsuit period
Have any of you on this complaint with gotten anywhere with this has anybody tried to get the class action lawsuit activated or put into motion this company needs to go down for its casual relax the way I’m holding onto people’s funds that are in need of their fun and having it off like it’s nothing I’ve been waiting since May 10th for them 2 refund me and everytime I call as same as everybody else I get through and then they’ll put me with their manager after I waited almost 3 hours by the time I’m done for hours sometimes they’re telling they’re giving me a check numbers and telling me that checks been mailed and there is no check being mailed I’m told that the office is being mailed from is in South Dakota and I’m in Denver Colorado it’s not ever been reached to me or even though checking and be interested I’ll tell me they’re going to expedite the research blah blah blah send crap that everybody else is complaining about but how do we even get a class action lawsuit going against these people because I say that we we need to this is ridiculous
I am with you.
The same sh*t is happening to me right now.
06/07/2022
I am having a major problem my account was locked and I I in the process of facing elections my refund came thru and u guys locked my account talking about fraud I have been with you guys for years no one has reached out to me or anything I cannot wait for a check I need my money now please call me someone
I’m in a hardship, Netspend sent my check to the depositor address, it was illegal since my money cleared in the bank, y’all flagged me for fraud. It’s my money, my kids suffering and I as well. Please help me, it’s only the right thing, Mr Kelly Knutson please call me 734-351-. I’m looking to take you to court to resolve this matter. But it doesn’t have to go to court if I can get you to contact me so you would get a understanding, I need my 3500 dollars, thank you so kindly, I’m in a hardship my contact number is 734-351-
Demand Letter
Copy to FDIC, BBB, CFPB
CEO: Kelley C. Knutson
CFO: Beth Deck
COO: Roger Kidwell, Jr.
My Account Number: 8060733343
This is to inform NetSpend that you have held on to my direct loan deposit from the Government
for the past 18 days and have not released the loan funds to me yet, every documents and
application they asked me for l provided, i was told on the 25th of June 2020 that the documents
that i provided will be updated by the 2nd of July, and up to now am still going back and fourth
with your company. My loan will soon be due for me to start making payments, l will very
much appreciate it if my funds are released to me ASAP today, i will start charging 20 percent
retroactive from the day Netspend received the loan from the Government. I’m a sole proprietor
and the verification process should not take more than 48 hours but i’s been 18 days now.
I can’t be making payments on a loan that NetSpend is holding on to, l filled out a two page
application and even gave them my loan approval from the Government and also the detail
information and my EIN number and yet still it’s still not enough for NetSpend but they’re still playing games and holding on to my loan deposit, l have all the necessary documents and all recordings
and names of representatives l have spoken to, if l don’t have access to my money today, l’ll
take it to the next level.
Thank you for your time.
Joseph T.
8060733343
I was the victim of identity theft they stole my debit card made several fraudulent unauthorized transactions and even though NetSpend claim to have zero liability gaurntee they refuse to refund what was stolen but refused to file fraudulent charges saying no error but I didn’t make or have knowledge of theses charges so they are complete error
Contact me so we can do a class action lawsuit. I put money on a card and they won’t activate it cause I had a card previously which is wrong, unlawful in various ways, and I had a rep state they won’t activate the card plus hung up on me with no calls back. I never opened a card with them I only use money orders unless someone opened a card in my name and they authorized it which mean netspend and their employee committed another crime against me with identity theft. I will be seeking a lawyer. I am over these fraudulent companies who violate privacy acts with sharing my information around violating their sworn oaths to protect and serve as well as various national, state , and federal banking laws hustling and scamming customers
Your company is a fraud. I am now talking to a attorney as I put money on this card to pay a bill and you are denying me access to the card and my money loaded on to this card. Unlawful practices violating various laws from a unlawful corporation.
Therefore your company has stole my money. I will not wait for a refund as this will accrue late fee and charges to the company I am trying to pay. So now I am charging you fees, late, fees, hardship fees, fraud, scamming me, and taking my identity. Each day I do not have my card activated or money back you will be charged daily for all listed above. A list of each fee charges will be sent to you asap after I speak with a lawyer. You unlawfully and wrongfully violated various rights, privacy acts, privacy laws, constitutional laws and rights. I demand my card activated for the amount I put on the card now or a refund on this card and activated and I will no longer use or refer your company to another person in my life. You have two hours. I cannot believe your rep is not even contacting me back nor is the manager I continuously asked to speak with!!!!
I DEMAND If my card is not activated I am charging your company double the amount by tomorrow 12/12/19, the next day another charge, and each day there after, 5 days and after you will be charged 500.00 a day, and fee and charges will be added to these fees each day going will be 500.00 till the next 5 and doubling to 1000.00 daily till 5 more days and then it will double to 2000.00 and will continue to increase doubling each amount till I am paid all fees and charges along with slander and defamation of character. Time is ticking I have copies of all communication. Demand of action and time of accruing fees starts now 12:31 pm 12/12/2019
Sincerely not happy,
BMeza
they took my money to they locked my card my title loan company gave me card now I can’t even get my money netspend locked it
Hello my name is Howard Blunt Jr I will be mailing a check to you for deposit. I will mail the check certified in one day
Trying to contact customer service for the last 3days. I been put on hold for hours. Trying to get access to my account that my stimulus check was sent to.
Yeah I bet that subject line made you want to open this. Listen, I have done business with your company for years and have been more then satisfied UNTIL tonight!!!! So your team found it to be appropriate to freeze my account without my knowledge. I have been out of work and barely getting by, which I told your girl tonight. That is when I called in after my card was declined leaving me very humilated and embarressed at the store, Great job there by the way!!!! So What little money I did have on the card was quickly sucked up by your company!!!. First apperantly I had a past due bill of 5.00 on the card, ok. Check 5 off, then they wouldnt lift the hold on the card I have had for YEARS!!!!! So I happened to have a secondary card already here. After I had to nearly beg her to just activate this card, She went over all my payment options……Well you know how this works, right???? Anyway I went, all the money I had just loaded today would be gone with nothing to show for it?!?!?! JUST BECUASE YOUR TEAM WONT RELEASE THE F-ING HOLD ON MY CARD!!!!!!!! REALLY????? So this is how I see it, You can either do the right thing here, and activate this new card, waiving the new first month down fee of only 5.00 because really, It is your company that is MAKING ME ACTIVATE A NEW CARD WHEN I DONT WANT TO, or you can show how money hungery you really are and I can take my business eleswhere!!! Because let’s face it, YOUre really one in a million pre paid card companies out there aren’t ya????? Oh and guess what, My facebook followers, My instagrams followers and All of my YouTube channel followers will know how sh**ty your company is!!! Because guess what, I do get paid to rate companies on line for extra cash and I will be so happy to let anyone and everyone know how much you need the 5.00 more then you need a customer that has been loyal to you for years. Happy holiday shopping Netsptend!!!!! Youre decision and I await your immediate response!!! You can find my information below!!
Tonya Riley
580-565-XXXX
tonyariley90@ yahoo.com