Consumer complaint received 2024-12-25 00:00:00
Product: Prepaid card — General-purpose prepaid card
Issue: Problem with a purchase or transfer — Charged for a purchase or transfer you did not make with the card
Company: Netspend Corporation
State: NC

Complaint narrative:
Subject : Complaint Regarding Unauthorized Transactions and Financial Institution 's Handling Dear Sir/Madam, I am writing to formally lodge a complaint regarding unauthorized transactions on my Ace Elite Prepaid Debit Card account and the inadequate response by the issuing institution. 
Incident Details : Date of Unauthorized Transactions : XXXX XXXX XXXX Merchant Involved : XXXX Amounts and Timeline : {$0.00} ( initial test transaction ) XXXX XXXX {$500.00} ( completed ) XXXXXXXX XXXX {$300.00} ( completed ) XXXXXXXX XXXX  {$100.00} ( completed ) XXXXXXXX XXXX  {$100.00} ( declined due to insufficient funds ) XXXXXXXX XXXX These transactions occurred within minutes of each other, rapidly depleting my account balance. I did not authorize any of these transactions, nor have I ever used XXXX or purchased cryptocurrency in my lifetime. 
Actions Taken : Immediate Contact with Ace Elite : I called Ace Elite within minutes of receiving text alerts about the transactions. Despite my swift action, I was informed that they could not act while the transactions were still pending. However, the funds had already been deducted from my account.

Disputes Raised : I formally disputed the transactions with Ace Elite and requested a freeze or reversal. I was told I must wait for the transactions to clear before further action could be taken, leaving my account vulnerable. 
FTC Complaint : I submitted a complaint to the Federal Trade Commission ( FTC ), outlining the suspected fraudulent activity and the possibility that my information was compromised by an online merchant or third-party vendor using mirroring software to intercept payment data. 
Suspected Fraud Source : I suspect the compromise originated from an online merchant/vendor that had access to both my XXXX XXXX XXXX XXXX and Ace Elite Card information. These cards were used with select subscription-based services, narrowing the potential breach point to specific vendors. 
Request for Immediate Assistance : I am seeking your assistance to : Investigate Ace Elites handling of this situation, including their delay in addressing the fraudulent transactions.

Determine why Ace Elite failed to act on an obvious pattern of suspicious activity.

Ensure the return of my stolen funds totaling {$900.00}. 
Take steps to prevent future occurrences of such incidents, including stricter oversight of merchants handling sensitive consumer data. 
Supporting Documents : I have attached the following : Transaction alerts and details. 
Correspondence with Ace Elite.

Copy of my FTC complaint.

Any additional relevant evidence.

Thank you for your prompt attention to this matter. I hope for a resolution that includes the recovery of my funds and assurance that Ace Elite and associated institutions will take stronger measures to protect consumers. 
Sincerely,

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