Top Class Actions’s website and social media posts use affiliate links. If you make a purchase using such links, we may receive a commission, but it will not result in any additional charges to you. Please review our Affiliate Link Disclosure for more information.
This settlement is closed!
Please see what other class action settlements you might qualify to claim cash from in our Open Settlements directory!
The U.S. Federal Trade Commission has secured a $53 million settlement in an enforcement action against NetSpend Corporation. The settlement will provide refunds to persons affected by NetSpend’s alleged mishandling of customer funds.
The FTC accused NetSpend of deceiving consumers about the accessibility of funds deposited in NetSpend prepaid debit card accounts. NetSpend allegedly promoted its reloadable prepaid debit cards as a way to store and immediately access funds.
But customers of NetSpend were reportedly not able to access their money as promised. NetSpend allegedly delayed access to funds either by denying or delaying activation of the card or by blocking the customer from using the card. Customers who closed their accounts and asked for refunds did not receive their money for several weeks.
For some customers, this delay in access to funds resulted in severe financial hardships including evictions, repossessions, and late fees on bills, the FTC says.
Under terms of the NetSpend settlement, NetSpend has agreed to create a settlement fund worth $53 million, to be used to reimburse customers who hold covered NetSpend accounts.
The settlement agreement also bars NetSpend from making misrepresentations about the accessibility of customers’ funds.
UPDATE: September 2018, the FTC announced that it will send out another $10 million to consumers from a NetSpend prepaid cards settlement. The additional $10 million comes from refund fees collected by NetSpend debit cards that were not paid out during the consumer redress period, according to the FTC statement.
Who’s Eligible
NetSpend accounts covered by this settlement include “accounts acquired by consumers between January 1, 2010 and August 31, 2016 that: (1) were not activated by August 31, 2016; (2) were loaded with funds; and (3) are not excluded by reason of fraud, prior full refund or credit, return of funds to payment source, escheatment of funds, or similar reason agreed upon by the parties.”
Potential Award
Varies
Proof of Purchase
Claimants should submit information requested in the notice of settlement that they receive via email and/or hard copy.
Claim Form
No Claim Form has been made available. NetSpend was required to provide notice by email or mail no later than June 8, 2017. Claimants can make a claim by responding to that notice.
If you believe you may be qualified but did not receive notice, you can contact the FTC via the settlement website or by sending an email to NetSpend@ftc.gov.
Claim Form Deadline
10/07/2017 UPDATED
Case Name
Federal Trade Commission v. NetSpend Corp., Case No. 1:16-cv-04203-AT, in the U.S. District Court for the Northern District of Georgia
Settlement Website
Class Counsel
Mark Glassman
Adam M. Wesolowski
Robin L. Rock
FEDERAL TRADE COMMISSION
Defense Counsel
Steven M. Kaufman
Natalie Fleming Nolen
Sarah N. Davis
MORRISON & FORESTER LLP
Michael B. Terry
BONDURANT MIXSON & ELMORE LLP
ATTORNEY ADVERTISING
Top Class Actions is a Proud Member of the American Bar Association
LEGAL INFORMATION IS NOT LEGAL ADVICE
Top Class Actions Legal Statement
©2008 – 2024 Top Class Actions® LLC
Various Trademarks held by their respective owners
This website is not intended for viewing or usage by European Union citizens.
128 thoughts onFTC NetSpend Prepaid Cards Settlement
I would like to get in on this claim. They did this to my husband and I. Locked our cards. Had late fees and couldn’t get bill’s paid on time. This happened a lot of times. Still have the cards.
Por q los engañaron
Add me
NetSpend is holding my wife’s funds because she lost her card. I have an NetSpend account myself and wanted to transfer her funds to mine so she can access them. My wife had had NetSpendfor ever and didn’t remember her security question, we explained that to customer service and they said the couldn’t do anything about it. We tried online but it kept asking for the card # which we did not have. Ask to speak to a supervisor and was left on hold for more than a hour.
I think I should’ve received a claim form as I’ve had several NetSpend cards during the time period but I haven’t gotten anything from NetSpend. Please forward claim form. Thank you.
If you believe you may be qualified but did not receive notice, you can contact the FTC via the settlement website or by sending an email to NetSpend@ftc.gov.
0nly 2
Please add me i have 2 netspend accounts
If you believe you may be qualified but did not receive notice, you can contact the FTC via the settlement website or by sending an email to NetSpend@ftc.gov.
i would like to be added . i have never recieved a claim # whats going on .never got an e mail either
If you believe you may be qualified but did not receive notice, you can contact the FTC via the settlement website or by sending an email to NetSpend@ftc.gov.
I’ve had two accounts with Netspend, I don’t know if I’m owed anything, but do you think they possibly steal your identity, Social security number? Sell it to the “dark web”?
I would like to pursue this claim but i have to this day still not receive an email or letter from netspend.
Netspend charges different rates on the same Mastercrds. I have not received an email or correspondence in the USPS mail. I would Like to be added to this complaint. I feel I am due a
refund.
Patricia Johnson
Add me
No Claim Form has been made available. NetSpend was required to provide notice by email or mail no later than June 8, 2017. Claimants can make a claim by responding to that notice.
If you believe you may be qualified but did not receive notice, you can contact the FTC via the settlement website or by sending an email to NetSpend@ftc.gov.
Add me, I have an account.
No Claim Form has been made available. NetSpend was required to provide notice by email or mail no later than June 8, 2017. Claimants can make a claim by responding to that notice.
If you believe you may be qualified but did not receive notice, you can contact the FTC via the settlement website or by sending an email to NetSpend@ftc.gov.
I would like to pursue this claim but i have to this day still not receive an email or letter from netspend. I have been denied access to my funds from a direct deposit and would like to file a claim, please tell me how to file this claim.
thank you
Marvin Joe