A Bank Now Unexpectedly Freezes $48K in Customer’s Account

October 7, 2023

A bank has now unexpectedly frozen $48K in a customer’s account according to a report from the NBC-affiliated news station, WSMV.

Torrie Jackson says she and her husband received more than $68,000 in back taxes from the IRS earlier this year, depositing the money into their Green Dot Bank account.

Jackson says she began withdrawing large sums of money in July with the intention of closing the account, when the bank blocked her from accessing the remaining $48,000.

“You freak out because you need those funds to take care of your business. Our kids had some things, so we were going to help them pay off some bills.”

According to Jackson, her account was flagged due to a vague and unexplained suspicion of unusual activity, reports DH.

“All I did was withdraw my money, and they could not explain to me what the unusual activity was.”

Jackson says Green Dot requested that she verify her identity to regain access to her account. So she sent the bank a copy of her driver’s license, a utility bill and a copy of her IRS refund letter.

But according to Jackson, the bank refused to validate her documents, and the funds in her account remain frozen more than two months later.

“I call them every day and they have the same answer. It’s devastating. I really don’t know what to do at this point.”

In a statement, Green Dot says it has reached out to the IRS about Jackson’s funds.

“We have communicated our concerns regarding the funds to the customer and have provided guidance on who to contact, including the IRS, for information and updates on the status of the funds. It is our understanding the IRS is processing this case and more information should be available for the customer soon.”

Jackson says she’s received an entirely different message from the IRS.

“I’ve called the IRS. The IRS said they have no idea what they’re talking about. I was told once the IRS issues a tax refund, their hands are out of it.”

But Torrie Jackson isn’t the only one facing turmoil with Green Dot Bank.

Green Dot Bank is Now Denying Customers Access to Money

Green Dot Bank is now facing fraud allegations from various customers who have been locked out of their account from weeks to months.

Many customers are having difficulty receiving a direct response from the bank’s customer service department, with many claiming to have been given the runaround.

“It been a month and i still haven’t been able to get my money from Walmart green dot. I have ask for a replacement card 4 time haven’t got a card yet my rent is do for last month and this month i think there trying keep my money,” says Marzell Land.

Green Dot bank has been freezing multiple customer accounts resulting in missed bills or the usage of high interest credit cards to get by.

“From Az have not gotten my money since Wednesday I have a family and bills I have to pay. I know when they fixed this problem I’m getting my money and I’m gone like the wind, this is not right .🌋🌋🌋🤬🤬🤬. Just got done going through pandemic now this,” says Bobby Rivera.

What is being done about it? Nothing so far, though many of these reports have been submitted to the Better Business Bureau (BBB).

“My funds are gone. I believe now the bank [Green Dot Bank] is holding it hostage. It’s my SS money and I can’t get it back, they keep extending the date.

I’ll get my new card with my money on it this has been going on since the August 1 and I was in the hospital when I was hacked..I want my money it’s mine not yours green dot,” says Sandra Machuga, who’s reported to FrankNez before.

Also Read: Banks Are Now Closing Thousands of Accounts Daily

Retirees Are Being Affected

Bank News Today - Franknez.com. — Bank News Today – Franknez.com | A bank unexpectedly freezes customer’s account.

Beth Williams, 78, says she’s been a WMC cardholder for 10 years now and has been unable to gain access to her WMC/Green account for 20 days now.

What’s more alarming is that prior to the bank freezing the retiree’s account, who says lives on Social Security, she noticed two unauthorized charges prior to reaching out to the bank.

“Since August 4th I have been unable to access my WMC debit card account. On August 3rd I noticed 2 unauthorized charges & immediately contacted WMC/Green. My account had to be frozen per CS/ RESOLUTION dept.

I have been calling and spending hours on hold to reach CS trying to find out when my expedited replacement card is arriving! CS has given to me 4 extended dates when I’ll get my replacement card.

The flimsy CS explanations: 1st-upgrade system & 2nd having technical difficulties! I was told today by CS that the card is to arrive on or before August 27th, and by standard mailing. I am panicking and afraid that I’m being lied to,” she reported to FrankNez.

We’ve asked Williams to keep us updated on the bank’s decisions so we may provide readers with more information who might also be seeking for solutions.

Unfortunately, Williams isn’t the only one being affected; the same bank is freezing accounts with users also reporting several weeks of being locked out.

“I have been going through the same thing with green dot. My funds were hacked at the beginning of August, and I’ve got nothing but the run around from them. They keep telling me my card is on its way. It was supposed to be here August 23 now they’re saying the 31st..I’m on SS and they’re holding my money hostage. What is going on!!” Sandra Machuga reported to FrankNez.

For daily market news and updates, opt in for push notifications. Or follow me on social media below.

Also Read: The US Treasury Direct is Now Freezing Customer Accounts

Market News Published Daily 📰

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors. This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

You can also follow me on Twitter, Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.

More Market News 📰

Become a Sponsor for only $1/mo.

Gain access to EXCLUSIVE FrankNez articles you won’t find here.
Become part of a private and safe Discord community, just for retail investors.
Get drawn at the end of the year for holiday giveaways.

Become a Sponsor Today!