Meta Bank Student Pre-Paid Card ~ Student’s describe their experience using Meta Bank’s Pre-Paid Card

Meta Bank

Posted: 2009-09-18 by MihW45

Money fraud

Complaint Rating:  High

Company information:   Meta Bank United States

Recently my roommate got a Freedom card prepaid Mastercard from Meta Bank. he then loaded $1, 500 on it for an upcoming vacation. Well what they didn’t tell him is they limit you to 10 transactions a month before you can’t use it anymore for that period. Then instead of him paying me the rent he offered to just use the checking account part of the account which you can use unlimitedly to pay my months bills online for me.

Well big surprise today when I log onto my accounts and see returned payment fees and late charges. He called their support line who said they put a stop payment on all transactions because of suspicious activity that could be related to terrorism. How they got that from paying off a Walmart and Target and JC Penney credit card I’ll never know.

They told him his account was being sent to their security division for review which would take up to 14 days. They said his funds would be unavailable for that time, unless he wished to close his account which would result in a $5.00 charge for every transaction he made with the card since getting it. Freedom card my eye!

They gave the lame excuse that since 9/11 any large deposit on a card and usage is red flagged by them as suspicious. Now they can clearly see what the funds are being used for (credit card payments, grocery shopping, restaurant bills). So all the bills we paid with the card have now been returned along with late fees and returned payment fees.

These people are just looking for any way they can squeeze extra money from you DO NOT apply for one of these cards from Meta Bank. All it has given us is headaches and loss of money.

[I find it ironic that the Complaints Board page has ads for Meta Bank on the same page where there are complaints about Meta Bank, and yet there they are on this same source page. Does Meta Bank then provide a place for their customer’s to vent so they will not vent where it will actually do any good? Just curious?]

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