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 NetspendMeta Bank, All Access Prepaid Visa BAD BAD BAD Don’t even think of going with them unless you want to PAY$$$$ Austin Texas.…banking/Netspend…/netspendmetabank-all-acces- df89c.htmCached
  2. NetSpend Vows to Diversify Beyond Troubled MetaBank – Digital Nov 11, 2010  MetaBank Financial Group Inc., parent company of MetaBankNetSpend’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 – 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 -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…/bad-strategy-at-metabank-and-netspend/ – Cached – Netspend Prepaid Visa Complaint – Netspend/MetaBank Netspend Prepaid Visa Consumer Review – Netspend/MetaBank/Inter National Bank Warrants Federal Regulatory Investigation – Prepaid Visa Card. › 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…/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…/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 – Cached

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