So none of you here know me really, but I have a question I am sure some of you can answer. I recently had a run in with a company that has a policy in place that if you dont use the money in your account within a year, you lose it. I signed up for something, had to back out so was refunded the money back into my online account that I have with them. Forgot about it really since last june and only checked on it recently. Come to find out that all my money is gone. How is this legal? Can companies just come up with "policies" and just steal peoples money? I never a got a service in return for my money and I am sure the money($300) that I put into their account gained them interest, so why do I get screwed? So all knowing Beeb, school me on this cruel world!
you probably agreed to ther terms of service or use contract of some kind when signing up. did you not read the entire terms of service? (human centiPad reference here for the southpark junkies ) but seriously, im guessint it was disclosed in fine print at some point.
I can tell you that Bank of America has a policy that if the bank makes an error (money in their pocket) and you don't discover that error within 6 months, I believe was the period, you can't recoup your money. I was livid when I discovered this. I was the adminstrator for a close family friend when I discovered this policy. I was ready to kill something after attempting to speak with their customer service and them "transferring" me from one supervisor to another. That day I really understood how someone can be driven over the edge
I just dont get how they think its right to take from their customers or potential customers. If you have that in fine print and is part of your business plan, I think your main objective is pretty clear.
A lot of gift certificates (debit card type) are set up that way, too. You get one, for say, $100 as a present, but wait a few months to use it. Then you find out it loses value with time, some as little as a year to go to zero. Read the fine print, or you WILL get ripped off. Lots of cheezy 'deals' in the financial market......
What type of account is it? I know in my Medical FSA account,if I don't use the money I put into it, it doesn't roll over. It goes away.
Yeah, thats what I said! The situation still pisses me off to think about. If I did what the bank did it would be called robbery
I called and spoke to BOA and thats when I was told of the policy by their customer service reps on the phone and at the branch. When I called I requested a supervisor and was passed around to various "supervisors" like a 2 dollar hoe. The loss was something of just under $200 or so that they stole. I was going to contact my state's attorney general's office, the BBB and anyone else I could think but then while on vacation I said the hell with!
BofA is the worst. I had an account there once and they would actually charge me if I came in to the bank too many times. They wanted to encourage online banking. Then, recently I received a check from someone drawn on the BofA. I went to a branch to cash it and they charged me $5 to cash a $100 BofA check because I didn't have an account there. Boy, did the lady get an earful when she said, "Would you like to open an account?".
I wonder if your method of resolution is contained in the same fine print. Mandatory Arbitration perhaps?
Well this thread is actually a hidden NESBA sucks thread. I dont ride with them but planned to last year for two days at VIR. Schedule conflicts had me cancel the days and they refunded all the money back into my NESBA account. They never offered to refund it to my card I used originally. So a year and a couple months later, my friend wants to buy them and I am told I have no money. What if I was military and had money in that account and then got deployed and did have a chance to use them until after a year? Would they seriously steal that money? Thats not the case but I cant believe companies can do this. So I email them and bitch and bitch and tell them to send my emails to the owner of NESBA. So then I am told they were sent to the director of operations or something....and I get no response. Great, and not a damn thing I can do about it.
What state do you live in? I had unused gift certs with NESBA too. They tried to pull the same crap with me. I informed them of PA laws on unused gift certs. And had to mail them into NESBA. Under their new Policy I have 365 days to use them or I loose them. The new rules are in the membership agreement; so depending on when you renewed you membership you maybe SOL. However, NESBA is supposed to report all unsued gift certs to the state. As NESBA never paid taxes on your money. http://www.attorneygeneral.gov/consumers.aspx?id=280 They basicly told me to pound sand until I emailed them the above link I too will no longer ride with NESBA.
