Insight Visa Prepaid Card Incorrectly Closed My Acc W/ 5k In it!

[Crusading Angel]

Hey guys,

I need some help right now. I currently have accounts open with the insight visa card. They have an option where you can open a prepaid card account and savings account that earns 5% on 5k a year. Recently they decided to switch banks and sent out a notification that they would close accounts with the old bank. Essentially I use to have 3 accounts with them. Anyhow 2 were with the new bank and one was with the old bank. I called in to talk to them and they opened a new account for me so I ended up having 4 total. 1 that they were going to close.

Anyhow 3 weeks ago I checking my mint account and noticed that one of my insight accounts were inactive. It was the brand new one with the new bank. They had incorrectly closed my account. I had already transferred 5k into the savings. I can no longer access the account and the 5k that was in it.

I called in the first time and they notified to me that they closed an account "A" and that I had transferred the money out of the account. However when I checked my bank that I transferred my money with I found that this did not match. In fact I had removed the money from account A and in fact moved it into B which was later closed. Account A was suppose to be closed and not B. They told me they would open a case for me and to check back a few days later.

Recently I called in again two more times. Both times I told them my issue and they placed me on hold for about 15-30 minutes. They then proceeded to hang up on the call. Both times I found this very unprofessional. I'm now out $5,000 and I'm slightly annoyed.and distressed. I've tried to ask for help on reddit and didn't get any response there.

I can understand the mistake since it's confusing for to remember since I have 4 accounts. It must be confusing for them as well. Does anyone know what I can do for my next step? It's not the end of the world for me if I don't get it back, but it's still a lot of money. I'm just annoyed right now because I can't get any help from their customer support.

[JLee]

Hey guys,

I need some help right now. I currently have accounts open with the insight visa card. They have an option where you can open a prepaid card account and savings account that earns 5% on 5k a year. Recently they decided to switch banks and sent out a notification that they would close accounts with the old bank. Essentially I use to have 3 accounts with them. Anyhow 2 were with the new bank and one was with the old bank. I called in to talk to them and they opened a new account for me so I ended up having 4 total. 1 that they were going to close.

Anyhow 3 weeks ago I checking my mint account and noticed that one of my insight accounts were inactive. It was the brand new one with the new bank. They had incorrectly closed my account. I had already transferred 5k into the savings. I can no longer access the account and the 5k that was in it.

I called in the first time and they notified to me that they closed an account "A" and that I had transferred the money out of the account. However when I checked my bank that I transferred my money with I found that this did not match. In fact I had removed the money from account A and in fact moved it into B which was later closed. Account A was suppose to be closed and not B. They told me they would open a case for me and to check back a few days later.

Recently I called in again two more times. Both times I told them my issue and they placed me on hold for about 15-30 minutes. They then proceeded to hang up on the call. Both times I found this very unprofessional. I'm now out $5,000 and I'm slightly annoyed.and distressed. I've tried to ask for help on reddit and didn't get any response there.

I can understand the mistake since it's confusing for to remember since I have 4 accounts. It must be confusing for them as well. Does anyone know what I can do for my next step? It's not the end of the world for me if I don't get it back, but it's still a lot of money. I'm just annoyed right now because I can't get any help from their customer support.

Do they have a social media presence?  I've had fantastic luck getting a problem resolved quickly by tagging the bank on Twitter with a brief description of the problem.

[Miss Piggy]

How in the world can you be out $5000 due to a simple mistake like this? How can they keep your money? Did you forfeit the money simply by "closing" the account? That's BS.

[former player]

Try emailing them?

Try snail mail to their address in Birmingham AL?

If those don't work, try contacting their owners, who seem to be Republic Bank of Chicago or Axiom?

And perhaps don't put your money into anything unless you are clear beforehand how you will manage any problems.

[mcluhan]

I would send them a snail mail letter, Return Receipt requested. Create a paper trail that can be tracked. Phone calls can be useless when you're having an issue like this. As of right now they don't even have any record that you're having a problem.

[nancy33]

The district attorney office in your county should help you. It sounds criminal.  Also check to see if the money is in an escheatment account in your state? This happened to me here in CA, it was a small amount of money that ended up in this state escheatment account. PITA

[FIRE47]

I have found service to be getting worse and worse these days with regards to fixing errors like this. Sure the systems in place probably mean there are less errors overall but when they happen good luck getting them fixed.

I have had numerous billing and bank errors with various companies over the past year. In most cases after several hours and getting the run around I have given up on some small amounts $25 or less.

In one case due to a bank error I was out $450 and it took 8 months to get $350 of it fixed - the remaining $100 is as good as gone as I can only devote so much time to fighting something like this with my schedule.

It's always the problem of some other department and what one person says is meaningless in the next department. You have to get things in writing as they will deny deny deny any promise made to get you off their back in the short term.

[HawkeyeNFO]

CFPB - consumerfinance.gov

Call the company and ask to speak to a manager.  Elevate your discussion to the highest level possible.  Then tell them you are filing a complaint with the CFPB, and also your state agencies as described above.  This has happened many times with other pre-paid card issuers.  Getting the government regulators involved is typically the fastest way to resolve these issues.  Good luck and have patience.