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PSA: That 'instant approval' crypto debit card I hyped up for 6 months just locked my account
I spent half a year telling everyone in this sub to get this card from a company I won't name here. Fast deposits, no fees, worked great until the first $200 transaction flagged their system. They locked my account for 3 weeks, no calls returned, just canned emails about 'security review.' Lost access to rent money and had to borrow from a buddy. Turns out their terms say they can freeze any amount for any reason. I only found out when I dug into the fine print after the fact. Anyone else get burned by one of these fintech cards that seemed too good to be true?
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torres.sage20d ago
File a complaint with the CFPB first thing tomorrow. I had the same thing happen with a neobank that called itself a crypto card and a CFPB complaint got my account unfrozen in 10 days. Also start moving your direct deposit to a real bank with physical branches because these fintech apps treat your money like their float. Take screenshots of every single email and terms page you can find too. They count on people giving up but if you make enough noise on Twitter they'll suddenly remember how to call you back.
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Man, "treated your money like their float"... that line stopped me cold. I think that's exactly what happened to me too. @torres.sage is right about how they freeze you out over nothing. I had a $180 purchase trigger a three week lock, and they wouldn't even tell me what the problem was. I kept getting those same canned emails about a review. It's crazy how fast they switch from being your best friend to acting like they never heard of you. I'm glad you got yours sorted through the CFPB though, that gives me some hope.
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