A US bank has now left customers with no money as users nationwide report being defrauded and locked out of their accounts.
More Green Dot Bank customers are speaking out against the bank in the latest scandal that has users trapped with no access to their money.
Other users are reporting funds being completely gone from their accounts.
These bank customers are losing access to hundreds and even thousands of dollars, which is rightfully theirs to begin with.
“Green dot took me and thousands of peoples money. None of us can access it. WE HAVE SHIITTT TO PAY,” said one user on Saturday.
“For the first 2 months of having Greendot everything was great. Then I go and try to use my card and it’s declined. The dumb b!** said to wait an hour or day. ITS BEEN A WEEK!! I feel terrible for the people who’ve lost hundred of $$,” says Anna.
“I’m going through the same thing. My funds are gone. I believe now the 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.
US Treasury Direct customers have also reported being unable to access their accounts.
Tammarra Johnson reported to FrankNez that TreasuryDirect has frozen her account ever since she made a deposit going all the way back to April.
“My account has been frozen since April right after I deposited $1,500 from a settlement. I mailed in the required form from my bank that was needed to unlock my account and it is still locked.
It’s sad to know financial institutions are basically taking citizens money like times aren’t already hard.”
Other US Bank News Today
More Americans are now pulling money out of big banks according to the latest report conducted by the Federal Reserve.
As money quickly exits traditional banks, we’re seeing a massive influx of capital enter money market accounts, which tend to have some sort of small return.
New stats from the Federal Reserve Economic Data (FRED) system show that $48.81 billion in deposits exited American bank accounts from August 10th through the 16th.
In early August, it was reported that 25 of the largest US banks saw a record plunge of $174 billion in deposits, per FRED data.
“In the last year, a the total amount of deposits in American banks has dropped from $18.03 trillion to $17.29 trillion – a decline of $740 billion,” reports DH.
The massive drop in deposits comes as money market funds record the largest level of inflows in six weeks as investors look for more stable returns.
Data from Refinitiv Lipper shows investors recently made $32.29 billion worth of purchases in money market funds in one week, per Reuters.
“By sector, investors exited healthcare, financials, metals & mining, and utilities sector funds to the tune of $747 million, $579 million, $556 million and $497 million, respectively.”
Meanwhile, U.S. bond funds faced $1.5 billion worth of outflow, compared with about $737 million in net purchases a week ago.
U.S. high yield and short/intermediate investment-grade funds witnessed $1.27 billion and $1.23 billion worth of net selling, respectively, but general domestic taxable fixed income funds saw an inflow of about $1.35 billion.”
“This breakdown does not give the American people a quick pulse beat on the dangers lurking in the U.S. banking system – a system that imploded in 2008 and was on its way to imploding again this spring until the Fed stepped in with another bailout program,” says Wall Street on Parade.
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