Consumer complaint received 2023-06-03
Company: Netspend Corporation
State: RI
Product: Checking or savings account
Sub-product: Checking account
Issue: Managing an account
Sub-issue: Problem using a debit or ATM card

Complaint:
On Thursday XX/XX/XXXX at XXXX my NetSpend account was hacked. Someone was able to gain access to my online account and transfer a large amount of funds from my savings to my checking and make 2 purchases totaling {$860.00}. Unfortunately, the same person who hacked my account, change my online login in credentials. The following morning once the Netspend customer service line was open, I was able to get a hold off someone and inform them of this fraudulent activity. He assisted me in getting back into my account and for further security measures, he block my 2 debit cards and I was charged {$50.00} to expedite 2 new cards to me ( Please note my debit cards were not lost or stolen ; I still have the physical cards in my possession. ) Later on in the evening on on Friday XX/XX/XXXX after speaking to this representative and being assured my account was safe and no one would be able to access my account and the account was blocked, my account was hacked again. At XXXX XXXX Saturday XX/XX/XXXX I received another email with a password reset link ; which I did not request. I emailed back stating this was not me and I would like this block and do not allow any transactions. Unfortunately, I received no real respond and I was once again blocked out of my account. I was only able to receive transactions notification from my Netspend app. From the hours of XXXX $ XXXX Netspend allowed someone to create over 20 virtual cards and complete 15 additional transactions in the total amount of {$4100.00} ; one of the transactions being the largest lump sum of a {$3000.00} purchase in one transaction. The following morning once the Netspend customer service line had opened I had was able to speak with another representative express my frustration, as my account had been almost completely wiped out with a total of {$5000.00} worth of fraudulent transactions. The representative helped me reset my account and log in and everything was gone. Later on in the afternoon another on XX/XX/XXXX, my account was hacked again and 2 small transactions were made in the amount of {$28.00}. I had to call again and reset all of my login credentials. I was informed I would need to wait for each transaction to post to dispute them and I would not receive any of my money back until they complete their investigation. As of today I have been able to dispute all transactions in the matter of 6 claims, but am still finding Netspend to be making this process very difficult. I am unable to see the status of my claims except for the ones they keep closing and telling me I requested them to be withdrawn. I am very disheartened by this situation and feel I will never be reimbursed for Netspends lack in online security and competency to keep my money safe. They have informed me that they may issue me a provisional credit by XX/XX/XXXX if they need to further investigate each claim. Unfortunately, the funds in this account were all I had to my name, I now am unable to sustain for myself and children, as this situation has left me financial destitute. I have followed the process for each claim, as required and had multiple lines of communication with Netspend via phone and email, and I feel I am able to get nowhere. I o not find it fair that I have to wait a minimum of two weeks to be reimbursed my funds, but Netspend can allow someone to hack my account 3 times and complete 17 transactions totaling {$5000.00} in lest than 24hours. I would just like to be reimbursed promptly. Below are screenshots of these transactions from my Netspend app and a list of my claim numbers. Please help me resolve this matter.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation