Complaint Review: Cashnet500.com - Murray Utah

I have been having 25% of my wages garnished since last June and every month gets harder and harder to pay my bills. Luckily it ends in two pay periods. Anyway, I had a prior loan with Cashnet that due to some negative balance issues the checking account used to open the loan was closed by the bank. Well I have sinced opened another checking account and are in the process of setting up payment arrangements with my creditors. A few days ago I needed an extra $200 to make ends meet, so I applied for another payday loan. Well two things: 1) I was denied for the loan, and 2) When I checked my direct deposit today there was about $680 taken out in 5 separate ACH transactions from Cashnet on the exact evening my DD hits my account. Bottom line, if you are wondering how they get your new checking account information, that is how. Cashnet has sister companies that act like they can get you approved, but really only are trying to get new bank account info. I have since filed a fraud complaint with my bank, as I did not approve of the funds being deducted from my account. I am not disputing that I owe them some money, but it is illegal to deduct funds from someone's bank account without either prior approval or a court order. I am sure that my bank will reimburse me for this fraud, but if they don't I will get a lawyer and sue for fraud. Cashnet has to be stopped from doing this to people. There are legal means to recoup unpaid and overdue funds, and Cashnet needs to follow the process like any other lending istitution has to. Thanks for reading.

I would just check with your bank to be sure that the credit is or is not provisional. If the credit was given by cashnet and not your bank then you should be in the clear. If the bank credited your account, it may be provisional. Meaning they credit the funds into your account while they investigate your disbute. The bank should send you a letter through the mail when their investigation is completed and what their final decision is (I am not totally positive, but I think they have up to 30 days to invetigate it). If cashnet is able to convince the bank that the charges are legitatmate, the bank could reverse the credit given you. Although it doesn't seem that cashnet will be able to, you never know with fraudulent companies. I am glad you got your funds back.

What a releif!!! I bank through Charter One and had an investigation filed on the charges cashnet withdrew from my account. I checked my account today and found that they credited all of the charges cashnet posted. I thought I would never get that money back after talking to cashnet. It is obvious, per the banks decision that cashnet is operating illegally. I hope you have the same result with your bank. Good luck!

The same thing happened to me this week. I supposedly applied for another loan through a so called "sister company" of cashnet. The information I provided on the new applicant was magically batched over to my cashnet account and they withdrew $650. I only owed them $350. I have disputed the charges with the bank, hopefully I can get some money back.

Is there anyone out there with inside knowledge how a company can find out new account information if you have closed the account they were given authorization to bill? I don't have this situation myself, at all, but it is so scary! If companies can do this, there's no reason to think they might not start just doing it to ANYONE with a bank account. I guess that's what scares me! The fact that these people gave them information for bank account A, closed it, then opened bank account B, and the company accessed account B - how? How do they find this information out?

I have a similar situation, CashNet billed a completely different account than what the original loan was for... I've disputed the charges on my new account, but was wondering how you fared with your situation. Thanks Rachael