Netspend is a reputable prepaid card issuer, however, the firm has had several issues over the years, and a large lawsuit was filed against Netspend in 2017. You may be asking how the case is progressing and what happened to your Netspend cash.
We offer all of the latest and most up-to-date information, as well as options to seek a refund from Netspend.
Furthermore, each state will have a complaint center identified so that you may simply contact Netspend and assert your rights. So, without further ado, let’s get right to the point of today’s discussion.
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Netspend Lawsuit And The Federal Trade Commission Refund
Following the 2017 settlement between Netspend and the FTC (Federal Trade Commission), over 33,000 users are receiving funds via PayPal as a refund from Netspend.
The dispute began in 2017 when the FTC sued Netspend and asked that money be reimbursed to users who were unable to get their cash because Netspend rejected or delayed card activation. In some situations, the cards were entirely blocked, preventing thousands of users from accessing their cash.
This resulted in one of the largest lawsuits, and Netspend agreed to conditions and began refunding consumers the next year.
Over 430,000 Netspend customers received checks from the FTC in 2018, with over $10 million spent. However, because some consumers did not get the check, the reimbursement has been extended till now.
In the event that consumers did not get their refund checks, the FTC is issuing PayPal reimbursements to those who provided a valid email address on their application forms.
How to get a refund from Netspend?
If you are one of the persons who was harmed during the process and need reimbursement from Netspend, you will very certainly receive a PayPal payout.
However, some persons do not have a PayPal account, and/or their e-mail address is invalid. If this pertains to you, please contact 1-888-684-4858.
Is it necessary for you to file a claim?
No, in most circumstances, the FTC will do all of the work and obtain all of the information from Netspend and other companies. Users who have been harmed by the Netspend firm do not need to register a separate claim since the refund will be issued automatically after the procedure is completed at the FTC.
Keep in mind that this may take some time, and in some circumstances up to 6 months, but you can be confident that your refund will be issued to you.
When should the refund check be deposited?
Users who received a cash check in the mail as part of the Netspend settlement must cash or deposit it within 60 days of receiving it. This is a claim that is also noted on the check.
It is critical to deposit or cash your check when there is sufficient money in the account to meet all fees and deposits. Otherwise, you risk losing your return funds.
When money is received using PayPay, the recipient usually has 30 days to accept the payment.
What happens to the money that isn’t claimed?
The FTC ensures that reimbursements are sent to Netspend customers who have been harmed by the company by issuing checks in the first round of settlements and utilizing PayPal in the second round.
So, if you haven’t gotten your refund check in the mail, call 1-888-684-4858 and allow it some time to be processed. However, if the funds are not claimed, they will be forfeited to the United States Treasury.
This is why it’s critical that you stay informed and don’t miss out on any important information that can be found on government websites and our website.
How To File A Complaint Against Netspend?
Before filing a formal complaint against Netspend, you might consider contacting customer service for more assistance. You may address some serious concerns this way without filing an official complaint.
Each state has a dedicated assistance center where you may get additional information:
Mail: Division of Banking & Securities, PO Box 110807, Juneau, AK 99811-0807
100 N 15th Avenue, Suite 261
Phoenix, AZ 85007
Telephone: (602) 771-2800
Fax: (602) 381-1225
Arkansas Securities Department at 800-981-4429 or
1 Commerce Way
Little Rock, Arkansas 72202
2101 Arena Boulevard
Sacramento, CA 95834
Telephone: (866) 275-2677 (toll-free)
Colorado Division of Banking
1560 Broadway, Suite 975
Denver, CO 80202
Florida Office of Financial Regulation at 1-850-487-9687 or
200 E. Gaines Street
Tallahassee, FL 32399-0376
Georgia Department of Banking and Finance at 770-986-1633 or
2990 Brandywine Road, Suite 200
Atlanta, Georgia 30341-5565
Illinois Department of Financial Institutions at https://www.idfpr.com/admin/DFI/DFIcomplaint.asp or call 1-312-814-5145
500 N Calvert Street, Suite 402
Baltimore, MD 21202
- New York
Consumer Assistance Unit
New York State Department of Financial Services
One Commerce Plaza
Albany, NY 12257
Pennsylvania Department of Banking at 800-600-0007 or
Market Square Plaza
17 N. Second Street, 13th Floor,
Harrisburg, PA 17101
2601 North Lamar Boulevard
Austin, TX 78705-4294
Telephone Number: 1-877-276-5554 (toll-free)
Fax Number: 512-475-1288
Email Address: firstname.lastname@example.org
Website Address: www.dob.texas.gov
- All the states that are not found on this list have the universal toll-free number you can call 1-866-387-7363
Netspend has reached an agreement with the FTC, and thousands of consumers are receiving refund payments in the mail or via PayPay. You now know what measures to take to get your money back.
Make sure to contact Netspend support before filing an official complaint so that you may obtain the assistance you want immediately.