Category: Stock Market News (Page 1 of 262)

A US bank is now denying customers access to money according to several reports from users.

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.

If you or anyone you know is going through something similar, leave your comments down below.

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Also Read: Banks Are Now Closing Thousands of Accounts Daily

The US Treasury Direct is Now Freezing Customer Accounts

Green Dot Bank customers aren’t the only ones experiencing a hold on their money.

The US Treasury Direct (TreasuryDirect) is also freezing customer accounts, leaving users without access to their funds from weeks to months.

Tammarra Johnson reported to FrankNez that TreasuryDirect has frozen her account ever since she made a deposit going all the way back to April.

Users can purchase securities directly from the US Treasury with TreasuryDirect.

However, big financial institutions have access to TreasuryDirect’s auction house which means they have priority over individual customers.

Finance Strategists reports that’s securities purchased through TreasuryDirect cannot be sold in the secondary market before they mature.

“This lack of liquidity could be a disadvantage for investors who may need to access their investment capital before the securities’ maturity.”

But Johnson’s issue is a little different – TreasuryDirect froze the account after a deposit from a settlement.

“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.”

Just ten months ago, Samuel Clemens reported having a similar issue.

“I’ve been buying iBonds for 10 years. So earlier this year, 4 years after I opened some some proprietorship accounts, t direct finally comes back to me to query some of the registrations.

There’s no way to speak with them. Emails are ignored and written correspondence takes months. In the meantime, my accounts are frozen, and I do not have access to my money. If this were a private business, fraud charges would be laid!

How about organizing a campaign to write to our congressional representatives to fix this? The IRS takes months to process returns, and the treasury can’t handle a simple savings program for citizens. It’s a national disgrace.”

Also Read: Banks Are Now Closing Thousands of Accounts Daily

Retirees Are Being Affected

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.

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Related: Bank of America is Freezing Accounts in New Scandal

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