All posts for the month November, 2010

Bad Strategy at Meta Bank, Net Spend and Green Dot indicates that they are not in tune with their customer’s input

Exploring the Finances of the Unbanked  [ Think about what this implies here!!!!]

Bad Strategy at

MetaBank and NetSpend

October 14th, 2010

NetSpend and MetaBank have ignored critics of their products. [How does Meta Bank receive input?] Now they are paying the price.

There is a lesson in corporate strategy to draw from this situation. It doesn’t make sense to put so much effort into a financial product, given the degree of regulation associated with the banking sector, and then ignore the reaction of consumer groups and flout your regulator. [ I agree with this statement.]

The risk is evident. MetaBank has seen its shares lose $39 million in value in the last 24 hours. NetSpend was ready to do an IPO that was expected to bring $200 million to the firm. We don’t know how things will go tonight, but it seems to safe to assume that they are going to come back with tens of millions of dollars less in equity.

There are other companies in the prepaid space that do things better. Green Dot made an aggressive outreach to advocates and the Federal Reserve when its acquisition of Bonneville Bancorp was held up. [This report seems to be behind the times since customers are miserable with the Green Dot product already.]

H&R Block takes care of its reputation, as well. Block has a full-time social media staffer that monitors whatever anyone is saying about their company. “Listen, Respond, Resolve,” goes their logic. Richard Breeden brought a person over to Block from the SEC whose sole function is public policy.

What would a better strategy look like? For one, it would involve engagement. MetaBank, and NetSpend indirectly, have had their heads in the sand. [I think they have known exactly what they were doing and went for bust. They just switch names now and then, and move on to a new targeted market. They are not so much the big thinkers and they are the big name changers, and one step ahead of the law types.] Then it makes sense to make a better product. An alternative might have been to make a less expensive loan product. The APR on an i-advance is very high,[yes, this is called usury] no matter how the math is done. In most states, their product avoids usury laws by some obtuse reading of its definition as a loan [ Perhaps they are better at the double talk than I originally gave them credit for being, Haahr is an attorney, right?] (I’m not a lawyer, though, so I can’t say that with confidence). If they had offered a product with interest below 36 percent, they would still have the i-advance. The margin would have been lower, but they’d still be able to offer it to consumers. Remember, these products require a direct deposit.  [And Meta Bank promised to help people improve their credit history by following their plan.]

[I still think that what Meta Bank does is usury and what Meta Bank did through Payoneer was a form of treason. Look up the definition for ‘usury’ and also for ‘treason’ then look closely at Meta Bank’s practices in how they  use debit cards and what happened with the Payoneer/Meta Bank PrePaid Card in Dubai. How was that man assassinated? And why are some people sending clandestine bombs randomly toward the United States? I believe that it is the acts of Meta Bank that brings out this kind of angry response towards us, and the majority of us don’t understand why or how these people could be so angry at us. This is why Meta Bank needs to be stopped.]

One of the issues with offering credit to ultra-low-wealth consumers is that it imposes a real chance that a business will lose its customers. Going back to Green Dot, Steve Streit emphasized that he doesn’t put credit on his cards.  These consumers are often portrayed as people with short-term, one time credit needs. The reality is that many live in a constant cash-flow emergency. They need dollars today, and they will need money next week. They can’t afford to add a 120 percent APR loan to their budget.[ 120 % loan, you say and that isn’t usury? get real!!!!]

It doesn’t make any sense to ignore the reputation of your brand. This is business school 101. Remember the Tylenol product recall? Tylenol probably gained respect and trust from its consumer base by the way it handled that situation. Several big fast food chains agreed to pay for the cost of improving conditions in the Florida tomato farms where their food is grown. That differentiates their brand, while quelling their enemies.[Ok, so the author is giving examples for how Meta Bank could have and should have acted, but didn’t. What prevents Meta Bank from seeing the truth? Meta Bank is on another path headed in another direction entirely.]

MetaBank and NetSpend followed the alternative path. [Yes, of course.] Denying a problem and imagining that it will go away didn’t help BP,  or Tiger Woods.[However, Meta Bank is always the same and the Green Dot is just as bad. Meta Bank should be prohibited from serving the unbanked, but anyone who has any kind of money will not want to do business with them because they will lose all of their hard earned money while Meta Bank is stashing their cut in their Swiss Account.]

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by mrnd5 on November 14, 2010  •  Permalink
Posted in Bank Reform and Proper Regulations are Needed, Human Rights, Meta Bank charges customers for spending their own money, Meta Bank has a Prepaid Card to meet your specific needs, Meta Bank is nothing but a publicity scam, Meta Bank never accepts responsibility, Meta Bank Scams Americans, Meta Bank sells VISA and Mastercard Pre-Paid Cards, Stop Meta Bank, Terrorism within the USA
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Posted by mrnd5 on November 14, 2010

https://mrnd5.wordpress.com/2010/11/14/bad-strategy-at-meta-bank-net-spend-and-green-dot-indicates-that-they-are-not-in-tune-with-their-customers-input/

Meta Bank, under scrutiny by the Office of Thrift Supervision, continues to push the pain of their internal policies off on their unsuspecting iAdvance and Netspend customers as Meta Bank seeks to grab for all the money they can still squeeze out before getting shut down completely- PLEASE NOTE THAT GREEN DOT IS YET ANOTHER META BANK PRODUCT. IT WILL WORK THE SAME AS ANY OTHER META BANK PRODUCT > PLEASE BE ADVISED TO STAY FAR AWAY FROM THE GREEN DOT PREPAID DEBIT CARD

“I had a iadvance loan and it was due october 14th. I had an ealy payday and got payed on the 13th. When I logged on to myiadvance to take another loan to get bye I saw the notice from metabank. Stating due to the Office of Thrift Supervision had instructed them to stop on the 13th with no warning. I dont think it was fair to not have given me fair warning that the loan process was going away. Something needs to be done to financial instatutions that with no warning pull your line of credit.”

“I also have the same complaint. They call it an inconvenience, I call it an unjust hardship! I received no notice whatsoever till I logged on to my Netspend account. All monies are now due!
Are there reasons why federal bank regulators pulled the plug? Very suspicious. I am going to research this further and file formal complaints with bank agencies.”

1.  Please note that it is standard operating procedure for Meta Bank to push the blame and discomfort they have caused off onto others. It appears that Meta Bank is still doing this in this instance.

2. So Meta Bank is calling for all of their loaned money through iAdvance immediately since they have been breaking the law in some way. I doubt that the Office of Thrift Supervision told them to call in all outstanding loans and to further inconvenience their customers, but that it is Meta Bank’s decision to call in these loans for Meta Bank’s own benefit.

3. If a person needs to get by through Meta Bank’s payday loan program then that person is being taken advantage of and should find another means of supporting themselves. Meta Bank is not the solution. Meta Bank’s publicity may present their product as a solution for customers, but Meta Bank has only found ways to hold on to the hard earned money of their customers to their own advantage and not the advantage of the customer. Meta Bank, as a thrift bank, makes money off of the debt and misery of the most financially vulnerable citizens in society.

4. Please do begin your own research into Meta Bank’s practices regarding Meta Bank’s Netspend.

My first two  results from a ‘Google Search’ for MetaBank Netspend gave the following:

  1. Netspend, All-Access Prepaid Visa, Meta Bank | Rip-off Report #256960 Jun 26, 2007 …Netspend, Meta Bank, All Access Prepaid Visa BAD BAD BAD Don’t even think of going with them unless you want to PAY$$$$ Austin Texas.

    http://www.ripoffreport.com/…banking/Netspend…/netspend–meta–bank-all-acces- df89c.htm –Cached

  2. NetSpend Vows to Diversify Beyond Troubled MetaBank – Digital … Nov 11, 2010 … MetaBank Financial Group Inc., parent company of MetaBank, NetSpend’smain issuing partner, revealed on Oct. 12 that the Office of Thrift …

    One of these was posted as early as 2007 above
    The next four,not originating  from this website where you are now, to forewarn customers are copied and pasted below

XE.com – NetSpend IPO faces hurdle from OTS MetaBank action Oct 13, 2010 … NetSpend Holdings Inc , which sells prepaid debit cards to low-income people, faces new hurdles to its planned $200 million IPO this week …

netspend/metabank never deposited my social sercurity check for 3 … Feb 8, 2010 … I have asked for my acount to be closed and the bank will not close it. Thank you Barbara Frick. now you want me to continue tell you how …

netspend.pissedconsumer.com/netspend–metabank-never-deposited-my-social -sercurity-check-for-3-months-20100208170501.html – Cached

Bad Strategy at MetaBank and NetSpend | Bank Talk Oct 14, 2010 … NetSpend and MetaBank have ignored critics of their products. Now they are paying the price. There is a lesson in corporate strategy to draw … banktalk.org/…/bad-strategy-at-metabank-and-netspend/ – Cached

My3cents.com – Netspend Prepaid Visa Complaint – Netspend/MetaBank … Netspend Prepaid Visa Consumer Review – Netspend/MetaBank/Inter National Bank Warrants Federal Regulatory Investigation – Prepaid Visa Card. http://www.my3cents.com › Financial › Banks/Credit Cards – Cached – Similar

The next links shed further light on this topic:

2nd UPDATE: NetSpend IPO View Darkens On MetaBank Regulatory Woes … Oct 13, 2010 … NetSpend would not immediately comment on its relationship withMetaBank. It has scheduled a conference call for IPO investors Thursday …online.wsj.com/…/BT-CO-20101013-713659.html – Cached – Add to iGoogle

NetSpend IPO – Impact of the MetaBank iAdvance Product and Other Buzz The second major IPO of a prepaid card company is going to hit the street this week, withNetSpend Holdings Inc. about to launch as NTSP on the NASDAQ. PLEASE NOTE THAT GREEN DOT IS YET ANOTHER META BANK PRODUCT. IT WILL WORK THE SAME AS ANY OTHER META BANK PRODUCT> PLEASE BE ADVISED TO STAY FAR AWAY FROM THE GREEN DOT

http://www.getdebit.com/debit…/netspend-ipo-buzz-good-and-bad/ – Cached

NetSpend could lose $1M in revenue due to MetaBank – Yahoo! Finance Oct 18, 2010 … NEW YORK (AP) — NetSpend Holdings Inc., which offers prepaid debit cards, said Monday that it priced its initial public offering of 18.5 …biz.yahoo.com/ap/101018/us_netspend_ipo.html?.v=2 – Cached

NetSpend Oct 8, 2009 … NetSpend All-Access MasterCard Prepaid Cards are issued by MetaBank, pursuant to a license from MasterCard International Incorporated. …

www.netspend.info/netspend.php – Cached

NetSpend Drops IPO Plans | Bank Talk Oct 14, 2010 … MetaBank is the bank partner for most of NetSpend’s cards and the sole source of funding … For one, NetSpend owns 4.9 percent of MetaBank. …

banktalk.org/2010/10/14/netspend-drops-ipo-plans/ – Cached

Prepaid Debit Cards – Pre Paid Visa MasterCard Phone Gas TIO – Issued by MetaBank and NetSpend. Travelex Card Services Cash Passport Card – Prepaid MasterCard and Visa cards, along with ATM-only prepaid cash cards …


I question whether the input from one of these ‘customers’ is actually genuine or authentic since no one could sustainably continue to thrive by getting loans repeatedly. The interest rates and fees would be punitive, especially if they are dealing with Meta Bank. It is improbable that a real customer would remain this disillusioned for this long. Business partners, however, may have received a similar looking product as the one that Meta Bank asks them to push off onto their customer base, but the one pushed off onto the customer base doesn’t work well. The Meta Bank product pushed off onto an unsuspecting customer base by a business partner of Meta Bank may be the most vulnerable since they may have done business quite successfully with that business partner for many years so they trust the business partner who has signed on with Meta Bank. Meta Bank is nothing more than a publicity front and a major scam on the American people.

We, the people, are advising you, the people once again that we have been scammed by Meta Bank, that we have been abused by Meta Bank, that our good faith has been taken advantage of by Meta Bank. Since Meta Bank has put ‘tentacles’ out into the American and world economies with promises that are based on nothing more than dreams, any partnership with Meta Bank has been doomed from the start. Meta Bank’s plan has been designed to get hold of good customer’s money and then lie to them. They began as a ‘thrift bank.’ Most banks wouldn’t even consider this practice, but Meta Bank perfected it. They have all of the collection agencies in place which is their only strength. This strength makes them function more like those old “bookies” known to be affiliated with the mafia. Since Meta Bank lies to customer, their practices can be compared to gang like practices. They are not to be emulated nor copied since this is not noble to pull the wool over customer’s eyes and to lie to them. Why would anyone want to be treated like that? Please do not bank at Meta Bank nor use any of their products since no matter what they offer, it tends to be the same product with a new name and the customer always loses out in the end.

This is not how business should be done anywhere. The best thing that anyone can do is to warn others about Meta Bank and what they have experienced with them so that what happened to them will never be able to happen to another person again.

As a former Meta Bank customer, my advice is not to bank with Meta Bank

Bank with a locally owned bank. Talk to the bank personnel in person and face to face.

Don’t use a debit card or a prepaid card. Open up a savings account. Try to stay out of debt.

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by mrnd5 on November 14, 2010  •  Permalink
Posted in Bank Reform and Proper Regulations are Needed, Bank Scams go international, Big Corporations and Banks run the world, Complaints Against Meta Bank, Dollar General Pre-paid Card is Meta Bank, End Overdraft Fees, Human Rights, Internal Audit Committee at Meta Bank, Just Curious About Meta Bank's Ad Placement, Meta Bank, Meta Bank and Banks like it are the source of the bad economy - stop talking about any politician at any point in history, Meta Bank charges customers for spending their own money, Meta Bank denied one man his right to a fair and impartial trial. What kind of a world citizen is Meta Bank? We are tired of fighting the wars that Meta Bank causes., Meta Bank has a Prepaid Card to meet your specific needs, Meta Bank is nothing but a publicity scam, Meta Bank never accepts responsibility, Meta Bank Scams Americans, Meta Bank sells VISA and Mastercard Pre-Paid Cards, Meta Bank uses empty verbiage, METABANK =TURBOTAX and both are scams, Netspend is not easier, Netspend/Meta Bank makes life miserable, Payoneer uses top- of - the line secure technology and stringent regulations for customer authentication and identity verification, Pre-paid Bank Cards don't work, Steve King (R-IA) received large campaign donation from James S. Haahr of Meta Bank, Stop Meta Bank, Suspicious Activity is within Meta Bank's internal practices and policies, Terrorism within the USA, What were Meta Bank's supervisors and internal auditors doing? Did they even exist? Why doesn't Meta Bank's Higher Ups ever know anything and have to push the blame around all the time?, You may be dealing with Meta Bank under a different name
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Posted by mrnd5 on November 14, 2010

https://mrnd5.wordpress.com/2010/11/14/meta-bank-under-scrutiny-by-the-office-of-thrift-supervision-continues-to-push-the-pain-of-their-internal-policies-off-on-their-unsuspecting-iadvance-and-netspend-customers-as-meta-bank-seeks-to-gra/

OCTOBER 13, 2010, 5:34 P.M. ET 2nd UPDATE: NetSpend IPO View Darkens On MetaBank Regulatory Woes

OCTOBER 13, 2010, 5:34 P.M. ET Wall Street Journal digital network
2nd UPDATE: NetSpend IPO View Darkens On MetaBank Regulatory Woes
 By Lynn Cowan 
   Of DOW JONES NEWSWIRES

The previously rosy outlook for this week’s IPO of prepaid debit card company NetSpend Holdings Inc. hit a hitch Wednesday on news that its preferred issuing bank must stop offering an add-on service due to regulatory violations.

NetSpend, which is scheduled to price its initial public offering Thursday and trade Friday on the Nasdaq under the symbol NTSP, was considered a strong deal by analysts and bankers.

On Wednesday, the company’s preferred debit card issuer, MetaBank, a unit of Meta Financial Group Inc. (CASH), was forced to discontinue originations in its iAdvance line of credit program, under a directive issued by the Office of Thrift Supervision.

NetSpend markets the iAdvance line of credit to users of its prepaid debit cards; NetSpend also issues about 71% of its active cards through MetaBank and owns about 5% of MetaBank’s outstanding stock.

NetSpend would not immediately comment on its relationship with MetaBank. It has scheduled a conference call for IPO investors Thursday morning, according to Scott Sweet, managing director of research firm IPOBoutique.com.

Meta Financial Chief Executive Tyler Haahr told Dow Jones that his bank will continue to issue debit cards for NetSpend, and that aspect of their business is unaffected by the iAdvance halt.

“We expect to continue to service existing customers, including NetSpend, consistent with the terms of our agreements,” Haahr said.

The iAdvance line of credit was a feature offered on MetaBank-issued prepaid debit cards at an additional charge to card holders. The line of credit operated like an overdraft agreement on a checking account, allowing consumers to make purchases beyond their prepaid limit, which they later paid back, in addition to paying a fee for the service.

A source with knowledge of NetSpend’s business said that the company’s revenue related to iAdvance was immaterial, but a NetSpend spokesman would not comment.

Along with suspending the iAdvance program at MetaBank, regulators found that MetaBank had engaged in deceptive acts or practices in connection with its iAdvance program.

In the absence of information from NetSpend, IPO analysts Wednesday reacted by cutting their ratings on the deal, which previously had high marks.

“Right now, I can’t tell people to buy this. It’s too risky,” said Ben Holmes, president of IPO research firm Morningnotes.com. Holmes said he was lowering his rating on the firm, which he previously saw as a high-demand offering.

Sweet, of research firm IPOBoutique.com, said he was concerned about business interruption for NetSpend as well as the possibility of litigation from card holders and investors who own Meta Financial shares. He lowered his rating on the IPO to neutral, two steps below his previous rating of strong buy. [Was any one paying any attention to what this company actually was doing before they bought?]

“You can bet there will be protracted litigation, not only with Meta, but NetSpend could be named as codefendent,” due to its relationship with the bank, said Sweet, who said it was the first time he dropped a rating by two notches since he founded his company in 2005.

Meta Financial’s stock cratered Wednesday. It closed at $22.25, down 33%. The news also weighed on shares of Cash America International Inc. (CSH), a payday lender that has a 8.6% stake in Meta, according to FactSet Research. Cash America closed at $33.55, down 5.7%.

MetaBank said it expects that ending its iAdvance program, as well as the potential discontinuation of its tax-related programs, will eliminate a substantial portion of its Meta Payment Systems division’s gross profit. Ending the iAdvance program may also result in higher nonpayment on outstanding iAdvance loans. The company said it couldn’t predict the effect on its results of operations or financial condition of MetaBank or parent Meta Financial.

NetSpend warns in its prospectus that any material adverse event that affects MetaBank or causes it to lose its ability to be an issuing bank for its cards would force NetSpend “to find an alternative provider of these critical banking services.” [How will consumer’s and customer’s interests be protected? All that we have heard is about these people who have been making money by deceitful practices and by misleading people, but how can they expect to keep going on and on when they are doing that to the most vulnerable people among us?]

-By Lynn Cowan, Dow Jones Newswires; 301-270-0323; lynn.cowan@dowjones.com

(Jennifer Cummings contributed to this article.)

 

5 Comments
by mrnd5 on November 10, 2010  •  Permalink
Posted in Bank Reform and Proper Regulations are Needed, Bank Reforms that actually protect consumers are still needed - Elizabeth Warren is needed, End Overdraft Fees, garbage talk with big words, How did the assassins pay for their Meta Bank/Payoneer Pre-Paid Cards? Where else were these cards used?, Human Rights, Internal Audit Committee at Meta Bank, Meta Bank, Meta Bank charges customers for spending their own money, Meta Bank never accepts responsibility, Meta Bank Scams Americans, METABANK =TURBOTAX and both are scams, Netspend is not easier, Pre-paid Bank Cards don't work, Stop Meta Bank, Suspicious Activity is within Meta Bank's internal practices and policies, Terrorism within the USA, What were Meta Bank's supervisors and internal auditors doing? Did they even exist? Why doesn't Meta Bank's Higher Ups ever know anything and have to push the blame around all the time?, You may be dealing with Meta Bank under a different name
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Posted by mrnd5 on November 10, 2010

https://mrnd5.wordpress.com/2010/11/10/october-13-2010-534-p-m-et-2nd-update-netspend-ipo-view-darkens-on-metabank-regulatory-woes/

E-banking and Meta Bank

Meta Bank has abused the concept of e-banking before it even had a chance to evolve properly.

They forgot completely about serving the customer.

They completely forgot that this is a relationship between the bank and the client.

Values were thrown out of the window as they were compromised and bent   .   .   . all for a quick profit.

In the long term, all the client base is lost since there never really was a client base. Clients are disposable to Meta Bank.

The thought process at Meta Bank is quite skewed and very unhealthy. Guessing clients needs and abusing clients or customers, but from this kind of warped perspective just doesn’t work. Any company that considers being a partner with Meta Bank will also suffer from the way that Meta Bank does business. Being abusive toward and lying to customers is bad business.

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by mrnd5 on November 8, 2010  •  Permalink
Posted in Uncategorized
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Posted by mrnd5 on November 8, 2010

https://mrnd5.wordpress.com/2010/11/08/e-banking-and-meta-bank/

NACHA bankmeta Meta Bank – how the tentacled network is created not for the customer’s benefit but for the greater profit of Meta Bank; This is still Meta Bank and Meta Bank should still be avoided ! ! !

NACHA Welcomes MetaBank as Direct Financial Institution Member

Top 50 Originator and Receiver Joins Industry Leaders as New Member
FOR IMMEDIATE RELEASE

Contact:
Colleen Morrison                                                            Lisa Binder
NACHA                                                                              MetaBank
703-561-3925                                                                  712-749-7535
cmorrison@nacha.org lbinder@metacash.com

HERNDON, Va., July 14, 2010 – NACHA — The Electronic Payments Association announced today that MetaBank, a federally-chartered savings bank headquartered in the Midwest and one of the nation’s top originators and receivers, has joined the organization as a direct financial institution member. Meta Payment Systems (MPS), a division of MetaBank, is a recognized leader in the prepaid card industry, providing innovative payment solutions nationally in collaboration with market-leading partners. [This is a publicity statement rather than fact.]

“As a leader in the payment service industry, we are excited to partner with NACHA to further support our business partners,” says Bob Nelson, vice president of MPS financial operations.[Another publicity and promotional statement.] “We look forward to taking an active role in shaping the future landscape of the financial services industry through membership.” [Oh yes, this will be really good income for Meta Bank so why not?!? Is there a bias in this publicity or is it just me?]

Members [ so they don’t talk about consumers here. Maybe somewhere in another life the consumer will enter into a priority for Meta Bank.] realize significant benefits, including opportunities to vote on the NACHA Operating Rules, nominate individuals for the NACHA Board of Directors, and take a leadership role on NACHA task forces, committees, and work groups. Direct financial institution members of NACHA gain up-to-date information on strategic industry issues and increase their financial institution’s visibility [visibility?? and we have already had far too much of Meta Bank, but they want us to see more of them. Why then has Meta Bank used so many different names by which they have operated under?] and exposure in the highly competitive electronic payments market. Members expand their market relationships as they engage in a collaborative approach to understand and address the challenges and opportunities facing the industry today. [I bet that Meta Bank wants in on this kind of collaborative action. Highly competitive electronic payments market? Hum?!? And since most of us don’t even know what that entails, we miss all of the background details and ramifications of what this means and how this will affect us.]

“NACHA membership helps to position financial institutions for the future by keeping them abreast of critical advances and innovation that will shape tomorrow’s industry,” said Janet O. Estep, NACHA president and CEO. “Membership gives financial institutions the tools and information they need to manage accelerating change and stay ahead of the curve in today’s evolving payments landscape. On behalf of all our members, I welcome MetaBank to the NACHA family.” [Watch out for the term ‘evolving payments landscape.’]

NACHA now has 44 direct members, consisting of 26 financial institutions and 18 regional payment associations. In addition to MetaBank, direct member financial institutions include American Express Centurion Bank, The Bancorp Bank, Bank of America, BB&T, BMO Capital Huntington National Bank Markets, BNY Mellon, Capital One, Citibank N.A., Discover Financial Services, Inc., Fifth Third Bank, First PREMIER Bank, J.P. Morgan, KeyBank, Navy Federal Credit Union, PNC Bank, RBS —Citizens Bank, Regions Bank, SunTrust, Synovus Financial Corporation, TCF National Bank, TD Bank, U.S. Bank, Wells Fargo, and Zions Bancorporation.

###

NACHA—The Electronic Payments Association
NACHA supports the growth of the ACH Network by managing its development, administration, and governance. The ACH Network facilitates global commerce by serving as a safe, efficient, ubiquitous, and high-quality electronic payment system. NACHA represents nearly 11,000 financial institutions through 18 regional payments associations and direct membership. Through its industry councils and forums, NACHA brings together payments system stakeholder organizations to encourage the efficient utilization of the ACH Network and develop new ways to use the Network to benefit its diverse set of participants. To learn more, visit www.nacha.org, www.electronicpayments.organd www.payitgreen.org.   [Read links with caution for how you will be scammed ,perhaps and how you will begin to scam your long time rapport with customers who have come to trust and depend on you. Any good business should stay far away from Meta Bank. Why is NACHA pairing up with Meta Bank?]

MetaBank
MetaBank is a federally-chartered savings bank with four market areas: Brookings, Central Iowa, Northwest Iowa and Sioux Empire. The Meta Payment Systems (MPS) division supports clients internationally and manages four primary business lines that contribute to revenue and deposits: prepaid cards, credit products, Automated Teller Machine (ATM) sponsorship and Automated Clearing House (ACH) origination. Twelve bank offices and two MPS offices support MetaBank customers MPS partners and consumers. Meta Trust provides professional trust services. Meta Financial Group is traded on the NASDAQ Global Market®: CASH. For more information visit http://www.bankmeta.com.

[This is an advertisement to garner more business for Meta Bank. Note the targeted audience. Please be forewarned that Meta Bank has scammed their customer base and alienated these customers to such a high level that it has been detrimental to the partner companies to which this advertisement seems to be targeted. You will only be losing the customer base that you currently have. Do not partner with Meta Bank. Do not opt in to Meta Bank’s get rich quick schemes. You are being used as a mechanism or implement for Meta Bank. The number of platitudes in the above statement should be the tip off for you.]

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by mrnd5 on November 8, 2010  •  Permalink
Posted in Bank Reform and Proper Regulations are Needed, Bank Scams go international, Big Corporations and Banks run the world, Complaints Against Meta Bank, Human Rights, Internal Audit Committee at Meta Bank, Is Lisa being set up by Meta Bank to take the next fall for their actions? Watch for the next developments., Just Curious About Meta Bank's Ad Placement, Meta Bank, Meta Bank charges customers for spending their own money, Meta Bank denied one man his right to a fair and impartial trial. What kind of a world citizen is Meta Bank? We are tired of fighting the wars that Meta Bank causes., Meta Bank has a Prepaid Card to meet your specific needs, Meta Bank is nothing but a publicity scam, Meta Bank never accepts responsibility, Meta Bank never made any promises to their customers in their legal documents, Meta Bank Scams Americans, Meta Bank sells VISA and Mastercard Pre-Paid Cards, Meta Bank uses empty verbiage, Pre-paid Bank Cards don't work, Pre-paid Bank Cards don't work right, Stop Meta Bank, Suspicious Activity is within Meta Bank's internal practices and policies, Terrorism within the USA, What were Meta Bank's supervisors and internal auditors doing? Did they even exist? Why doesn't Meta Bank's Higher Ups ever know anything and have to push the blame around all the time?, Why Lisa Binder?? Why?
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Posted by mrnd5 on November 8, 2010

https://mrnd5.wordpress.com/2010/11/08/nacha-bankmeta-meta-bank-how-the-tentacled-network-is-created-not-for-the-customers-benefit-but-for-the-greater-profit-of-meta-bank-this-is-still-meta-bank-and-meta-bank-should-still-be-avoided/

Meta Bank needs a constant flow of new money coming in; check to see if Meta Bank also has a lot of employee turn over within the company or within the company at certain levels – who does Meta Bank make do the grunt work or the dirty work for them? Do those people realize that they are part of the scam?

AccountNow Prepaid Mastercard Offer

The convenient alternative to credit cards and bank accounts for those with bad credit or no credit

The AccountNow Prepaid Mastercard helps you build a strong credit score.

  • Add money using direct deposit, MoneyGram, Western Union and Green Dot    Note that these are all affiliates of Meta Bank
  • Shop everywhere a debit Mastercard is accepted
  • Liability coverage protects you from unauthorized purchases   What protects you from Meta Bank?

Sign up and get approved in 60 seconds for the AccountNow Prepaid Mastercard

Apply for the AccountNow Prepaid Mastercard
 

 

Intro Rates Regular APR Balance Transfers Annual Fee Credit Needed
N/A N/A N/A* $9.95/mo. None
Editor’s Rating  Meta Bank rated their own product highly, but customers don’t

Offer Product Details

Intro APR N/A       This is a meaningless detail
Regular APR N/A       This is a meaningless detail
Annual Fee Low monthly fee of $9.95    It costs 10 USD to keep money on the prepaid card
Rewards Deposit paychecks and pay bills for free   Oh yes, this is the part Meta Bank is hoping you will do

Access cash at over one million ATMs worldwide        Sounds good, but how much will that cost?

Protected from unauthorized purchases with MasterCard’s Zero Liability protection   Many have complained about Meta Bank putting unauthorized blocks on their own money so that they can’t access their own money when they need it the most.

Builds your credit by reporting your history to PRBC   Meta Bank does make these reports, but Meta Bank doesn’t expect you to improve a poor credit history and Meta Bank is actually hoping for those people who have a poor credit history to apply so they don’t do a credit check. Meta Bank rationalizes that they can charge much higher interest rates from the most financial vulnerable. Meta Bank wants to make a profit from other people’s misery.
Balance Transfer N/A      Meta Bank wants new money coming in
Cash Advance $4.95 fee   Meta Bank is charging you to use this card. It is apparent here.
Credit Needed None    Meta Bank doesn’t need you to have any kind of a credit history. In fact, it is better if you have a poor credit history as far as they are concerned.

 

Why would anyone ever want to bank with Meta Bank? Meta Bank representatives are rude.

Meta Bank representatives, at best, will mess up your records and say that it is all your fault.

Since Meta Bank will have full control of all of your money when this happens, there will be nothing you can do.

Since Meta Bank operates mostly online, you will feel all alone, and not realize just how many others are out there just like you, and under how many names Meta Bank has been operating.

 

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by mrnd5 on November 6, 2010  •  Permalink
Posted in Meta Bank, Meta Bank charges customers for spending their own money, Meta Bank denied one man his right to a fair and impartial trial. What kind of a world citizen is Meta Bank? We are tired of fighting the wars that Meta Bank causes., Meta Bank has a Prepaid Card to meet your specific needs, Meta Bank is nothing but a publicity scam, Meta Bank never accepts responsibility, Meta Bank Scams Americans, Netspend is not easier, Payoneer uses top- of - the line secure technology and stringent regulations for customer authentication and identity verification, Pre-paid Bank Cards don't work, Steve King (R-IA) received large campaign donation from James S. Haahr of Meta Bank, Stop Meta Bank, Suspicious Activity is within Meta Bank's internal practices and policies, Terrorism within the USA
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Posted by mrnd5 on November 6, 2010

https://mrnd5.wordpress.com/2010/11/06/meta-bank-needs-a-constant-flow-of-new-money-coming-in-check-to-see-if-meta-bank-also-has-a-lot-of-employee-turn-over-within-the-company-or-within-the-company-at-certain-levels-who-does-meta-bank-m/

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