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200cash Ripoff After they took my $19 application fee, never heard from them again. Wilmington Delaware
It was all rather deceptive. I entered all of my information online. It wasn't until after I had all of my information submitted that I was aware of a $19 application processing fee. Here's the exact wording
I authorize 200Cash.com, Inc. to immediately deposit $200 into my checking account and to withdraw from the same checking account $200 plus the $60 fee on the date specified above. I understand that there is a $19.00, one-time only, non-refundable application fee, payable on the submission of this application and I also understand that I will be charged a $25 fee if the check is returned for Non-Sufficient Funds.
They place the emphasis on the "immediate deposit of $200" (which I never got). When your in need of money the $19 processing fee doesn't seem that unrealistic when you assume that they will be "immediately depositing $200" into your account.
I agreed to the terms assuming that I was going to get a loan, but I never received a loan. When I had no response from them by the next day, and no deposit of $200 to my account, I email them to ask where my funds were. I got the following response at 7pm that evening.
We have received your application for a new Payday Loan account with us, and are in the process of reviewing your information. A copy of your electronic agreements and application have been automatically forwarded to your bank as the required Proof of Authorization. The Application Fee ($19.00) will appear on your bank statement under 200CASH.COM, INC.
Referring website: Anderson Payday Loans All agreements apply and are hereby assigned to 200CASH.COM, INC.
In the event you are approved, you will receive a Notice of Approval indicating your due date, procedure for extensions if needed, and contact information for your assigned Account Manager.
Thank you for applying.
Account Management Team
200CASH.COM, INC.
DBA Anderson Payday Loans
When I had checked with my bank, they had already withdrawn the $19 processing fee from my account and never deposited the $200. I have had no response from them since, no status of my loan, just nothing, and it has been almost a week. I know that this is just a rip off to take application fees and disperse no loan.
I did check with the BBB and they are listed and, of course, with complaints. Below is the BBB url address for this company's listingcheck it out yourself. I have also listed the companies address and phone numbers as listed on the BBB website. I hope this helps for anyone else who is in this same situation. I plan to file a complaint with the BBB, I would hope that the others who were ripped off by this company would do the same.
I also noticed that 200cash.com has not responded to any of the rip off complaints.
data.bbb.org/scripts/cgiip.exe/WService=wilmington/wilmington/showrpt.html?zid=ESGpGhIoKf
200 CASH.COM
110 W. NINTH STREET #581
WILMINGTON, DE 19801
Principal: Don Beyer, Customer Relations
Phone Number: 888-814-4290
Fax Number: 888-814-4290
Type of Business: Advance Fee Brokers
Additional Business Names:
200Cash.com, inc
200cash.com
Kelly
pennsylvania, Pennsylvania
U.S.A.
STOP! ..before you think about using the Better Business Bureau (BBB)... CLICK HERE to see how other consumers were victimized by the BBB's false or misleading information. Don't be fooled! It has been reported, when there are thousands of complaints and other investigations underway by authorities, the BBB has no choice but to finally give an UNsatisfactory rating to a BBB member business that is paying the BBB big membership fees every year. When a business is reported that is NOT a BBB member, BBB files WILL more likely show an UNsatisfactory rating, then reportedly shake down that company to become a member of the BBB. One positive thing about the BBB is, either way, if a business has an unsatisfactory rating with the BBB, you can be sure, the business is bad. But what about all those BBB member businesses that had complaints filed against them? Consumers never get to hear about them. What about the BBB advertising to the public? Is this a false and misleading perception they are giving about consumer confidence when dealing with a business? Click here to understand more of what consumers and business alike are saying about the BBB. You decide. ..Remember. The BBB membership is not earned, it's paid for!
1 Updates & Rebuttals
Don
Columbia,Maryland,
U.S.A.
Rebuttal / 200CASH.COM, INC
#2UPDATE Employee
Tue, December 06, 2005
1. There is a notice for the application fee on the last page of the application process. It is in large text and in plain view. See here:
https://www.200cash.com/secure/new_check.asp
2. The courts understand that application fee means a fee to apply and, like other industries, is non-refundable and is used by the company to offset application and credit / employment verification. Payment of this fee has no bearing on whether or not the applicant is ultimately approved and funded. (Many of us remember paying an app fee for an apartment rental app for example. This fee is never refunded if they don't approve you)
3. The website allows the applicant to simply leave at any point and avoid the app fee charge.
4. The approval notice is conditional. The text says approved pending verification of your information. This allows them a chance to verify the information submitted before making the loan.
5. The approval (pending) notice comes AFTER pushing the submit button UNDER the app fee notice text, not before.
6. 200CASH.COM, INC. is licensed in the State of Delaware as a Small Loan Agency. License number: 2003102706. This can be confirmed by contacting the State of Delaware, Division of Revenue. (We are not a Bank or Financial Institution, we are a Small Loan Agency.)