Wired Plastic scam-beware!

[brybert]

Hi!

I am a consumer advocate located In Atlanta, GA. I have decided to do everything I can to get the word out about this scam *before* I have to do another post-mort story on how 50,000 people got shammed. I cannot wait for law enforcement to take action..it seems they have little motivation to help shut this down *before* they have a bunch of people complaining they got ripped off. I even felt the need to inform the companies and see if they would do the right thing and stop this. They are not going to do that. So....here we go. You can get some background on this company here and what they are doing:

http://www.virtualmoneyinc.com/ecommerce_article_3.htm">http://www.virtualmoneyinc.com/ecommerce_article_3.htm

The bottom line is this: This company is claiming a stored value card reports to the credit bureaus and build credit. Nope.

Reports nothing at all. Through Icommission.com's affiliate network, many pages still host these false claims as well as icommissions's own page of programs.

I did what I could-Inform IFCCFBI, FTC and the Utah Attorney General. All email to the bank have been ignored and, until recently, email to the marketing company as well-icommissions.com/ibusinesses.com. Nothing happened. I got to thinking...I'm darn tired of seeing consumers ripped off with a scam like this.

I've got the wheels turning to attack this thing from

the back end. I could do this another way as well...attack the front lines. Inform the affiliates directly of this...and see if they would change their pages...since it was obvious the companies had no intention on changing their own pages or telling the affiliates to do so either.

I will have backup copies in that report above shortly just in case the claim disappears. I doubt it will anytime soon.

Serveral hundred emails were sent out...and only a few notified me they were changing their pages...perhaps more have done so..I have not had the time to check.

I ended up calling the bank last Tuesday after a affiliate told me I was wrong and he had just spoken to them. At least Jay was honest enough to admit the truth....the card reports nothing. You can call them just as I did at 866-335-4784.

Normally I would post links to my reports on my website. This website does not care too much for that...so I have not done so here. The above link is not a website own or operate.

What I want from this company:

1. Notify all the affiliates to pull the false claims off their websites.

2. Offer refunds to the people who signed up for this thing under these false pretenses.

Sadly, I don't think we can expect #2 til law enforcement takes action against them. Fine. We can at least get the word out on this...

Thanks.

[Edit by brybert on Saturday, April 5, 2003 @ 02:04 PM]

[Edit by brybert on Saturday, April 5, 2003 @ 02:05 PM]

[Edit by brybert on Saturday, April 5, 2003 @ 02:06 PM]

[brybert]

Hi!

More of an update to the first post. I have finally succeeded in getting icommissions.com to pull the false claim off their own website and go after the ones that still have it on their websites. No sooner did I get that done, yup...you guessed it..a totally different false claim. This false claim comes directly from a partner (No icommissions.com). No..these people made a deal directly with Wired on this latest scam...I'd really like to see them squirm out of this! I'm sure they knew nothing....

They have been targeting the "unbanked" from the jump...sooo...it was no surprise that newcheckingaccount.com would discover this as a way to make more money. Of course, they cannot tell consumers the truth! Cut directly from the email:

Dear Member,

A new company called "Wired" is ready to give ANYONE a checking account, with a Mastercard/ATM card, and NO CREDIT CHECK OR CHEXSYSTEMS VERIFICATION.

Ummmm..nope. Wired responded with:

We do not offer a checking account for the Wired Plastic MasterCard.

And, of course, just as before...they didn't know anything about this...but they have ignored all but one email. Again...more

of the same from people you prolly should not want to do business with.

Bryon

Consumer Advocate

[Edit by brybert on Monday, April 21, 2003 @ 09:00 AM]

[Anonymous]

Bryon - I got the Wired card after seeing its advertisement on newcheckingaccount.com & I'm super-happy with it. I got direct deposit from my employer to my wired card, so its pretty much like having a checking account. Why don't you like it? I just sent the newcheckingaccount people a thank-you note!

[brybert]

Hi!

Well...I'm glad you are happy with it. So be it. The facts remain:

They are not telling the truth about this card/account.

1. You cannot mail checks written to you to this "checking account"

2. You cannot write checks drawn on this "checking account".

3. This "checking account" is not FDIC insured

4. You cannot mail deposits of any kind to be deposited to this "checking account".

This is fraud, plain and simple.

Oh...and I'm glad your happy to pay $69.95+6.95/Month for the privilege of having a debit card. I could get one on my Netbank checking account for a one-time payment of $10.00 and no monthly charges if I wanted one.

There is another thing even more sinister about this card. Most people who have damaged credit and cheksystems records will not be able to get a "normal" job that can do direct deposit to this card. They are going to have to make deposits through Western Union...after having to go to a check cashing place to cash the check. Fee-o-rama.

One more thing...am I the only one that noticed this person not only just registered this username in April...but this has been the only post in April...hmmm? Curious.

Bryon

[Edit by brybert on Saturday, May 3, 2003 @ 02:50 PM]

[Edit by brybert on Sunday, May 4, 2003 @ 09:17 AM]

[Edit by brybert on Sunday, May 4, 2003 @ 09:20 AM]

[brybert]

Hi!

A few things to update...not much, tho. Incredibly, I have complained to every person and law enforcement body you could imagine..and still...no results. Icommissions did finally remove the false claim off their website and is notifying webmasters with pages with the false claim *I* give him to remove it. I can still find pages easily with the false claim...but they are not ranked well with the search engines..so they are of little threat. I am really getting tired of feeling like I'm their compliance department, which I clearly am not. Another thing that really takes me back the CEO of Icommissions found this board and this thread...and of course...got mad. Oh well. It's the truth.

That's about it.

Bryon

[kb9tbq]

<blockquote>Originally posted by brybert

Hi!

A few things to update...not much, tho. Incredibly, I have complained to every person and law enforcement body you could imagine..and still...no results. Icommissions did finally remove the false claim off their website and is notifying webmasters with pages with the false claim *I* give him to remove it. I can still find pages easily with the false claim...but they are not ranked well with the search engines..so they are of little threat. I am really getting tired of feeling like I'm their compliance department, which I clearly am not. Another thing that really takes me back the CEO of Icommissions found this board and this thread...and of course...got mad. Oh well. It's the truth.

That's about it.

Bryon

</blockquote>

Well you keep at it, good to see you again.

We each have our own little part of the world to clean up now & then. Take Care

[brybert]

Hi!

Yep. I'm in it fer the long haul now! I've recieved my very first legal threats last week. Woohoo! It turned out the truth, in his book, only meant "the facts I like". Oh well. I have nine Starbuck's coffee varieties in inventory...sooo...the effort will pick up pace as a result! I expect my very first "Cease and Desist" letter this week....so...I must be doing sokmething right!

Bryon

[kb9tbq]

I decided to re-visit reading your original post, and hunt down the site for myself.

I do agree it is terrible, for them to snag the market that thinks obtaining this card will improve their credit reports.

BUT - I did read the terms & conditions, this here is where the trap lays.

All the additional fees:

1.A cash transaction fee of $1.50 will be charged each time you obtain cash from an ATM or a financial institution using the Card. This fee is in addition to any fee that may be charged by the owner or operator of the ATM (or any ATM network used to complete the cash withdrawal transaction) or by the financial institution honoring the Card. Any fee charged by the owner or operator of the ATM (or any ATM network used) will be subtracted from the value stored on your Card.

2.An Overdraft fee of $25.00 will be charged if a purchase or cash transaction occurs that exceeds the value stored on your Card.

3.If you attempt to transfer funds to the Issuer for addition to the value on your Card, and your check or other funds transfer is returned or dishonored for insufficient funds or any other reason, a NSF fee of $25.00 will be charged.

4.An inquiry fee of $1.00 will be charged each time you use an ATM to inquire about the remaining value on your Card, even if you do not use the ATM for a cash withdrawal. This fee is in addition to any fee that may be charged by the owner or operator of the ATM (or any ATM network used to complete the cash withdrawal transaction). Any fee charged by the owner or operator of the ATM (or any ATM network used) will be subtracted from the value stored on your Card.

5.A copy fee of $3.00 will be charged for each paper copy of a statement or email or other electronic notice or disclosure you request.

6.In the event that the Card is reported lost or stolen, a card replacement fee of $15.00 will be charged either to issue a new Card to you or to arrange a reimbursement of the value stored on the Card.

7.An express delivery fee of $15.00 will be charged for delivery of the Card or any replacement Cards using a method other than standard mail.

8.If you wish to terminate this Agreement and obtain any value stored on your Card, a fee of the lesser of $15.00 or the value stored on your Card will be charged.

9.If your Card is not used for a period of 60 days, the future use of your Card will be automatically suspended for security and other reasons. If you wish to re-activate the Card you will be charged a re-instatement fee of $25.00.

10.A incoming wire transfer fee of $10 will apply to any Federal Reserve Wire transfer received by the issuer.

Now that is serious nickle and dime stuff: It is not a checking account / even though it charges like one. And it is not FDIC (meaning that should something happen the the business) your money is not protected. They might just fly south someday with it.

The best part, is that they get all the additional fees from this, but where is the money going at their side - I would imagine some type of saving account system (so that they could profit on the balance from day to day). So they got their own protection system in place (tell me that are not preditory in nature).

Yes, I think you are right about this being a scam, but from a different view here. This looks way to appealing for the market (and if it gets enough behind it - would come right up to take the place of the credit card industry).

What say about the OFAC checks, that regular bank now use to insure they are comparing with the Tresuary Dept on the terriost data base. I see this a real quick way for people to set up accounts and move around on fals pretenses. How are they verifying the idenities of people applying if not be credit checks.

See a lot of gaps, that could be exploited from both sides.

Take care,

[Edit by kb9tbq on Sunday, June 8, 2003 @ 12:43 PM]

[brybert]

Hi again!

Woohoo! President of Creditpro called me a lunatic! <giggle>

They are, by the way, the ones currently hosting the "It's a checking account" fraud. In response to the BBB complaint, He says,"Mr. Harvey's state of mind concerns us and we have decided not to respond to any further emails from him." <Sob>

I may weep openly. What he does not know, the BBB is doing major followup on this, and I think, this time...the BBB may really take action against one of it's members. I hope, at least.

Bryon L Harvey

Consumer Advocate/Soil Relocation Engineer

[LiveFromNY]

<blockquote>Originally posted by brybert

Mr. Harvey's state of mind concerns us

</blockquote>

Ummm... I'm with him.

[sisflomi]

ditto

[kb9tbq]

LOL, hey - I missed that update,

Boy know how to push all the right buttons,

[nativechild48]

How many messageboards are you going to about these cards Have seen your reports on cardratings. Yeah what is this about EUFORA Aspire did'nt report for a while unless you messed up, and there are phonecards that do the same thing you have to read the fine print before commiting

[travelgrl]

Just saw on Monster.com they are hiring under the company name consumer credit something, at any rate they are searching for sales reps AND for the low price of $99 payable through Paypal you can get the information and join the team! Amazing. Hope you put a stop to this.