I purchased a debit card a couple of weeks ago, and decided that it would be a good idea to go prepaid while I am traveling and not my bank credit card. So when I purchased my card, I chose the bank load option because I did not want to withdraw funds from an ATM and use the green dot loading option. The web site states that it takes 3-5 business days to load money on the card by using the bank load option. I selected the option because I thought it would be the better. I only loaded $175 on the card on 11/16/2011, I figured that's all I needed for the weekend. On 11/17 the money was debited from my account, ON 11/18 the money was not on the card. I waited and called on Saturday, and the Customer Representative said it takes 3-5 business days. I said 'it has been 3 days, why isn't the money on the card, if it is not in my bank account. Where's the money?' The rep said that the entire process takes 3-5 business days. I said 'it was 3 days yesterday.' The rep then said the funds will be loaded on the card Monday.
So I called Monday 11/21. I once again stated that I had no access to funds that were debited from my bank account, and the rep said it takes 3-5 business days to complete the process. I said 'it's already been 4 business days and money has been debited from account since 11/16 and why do I not have acess to my funds if it took less than a business day to verify and debit my account?'
I demanded to speak to a supervisor who gave me the same scripted answer and then the suoervisor said the funds will be on the card tomorrow and then he said there was nothing he could do. I asked, 'at 12:01am?' and the supervisor said he didn't know. He said sometime before the end of the business day on 11/22.
I'm glad I didn't need the money too badly, but I really considered moving a substantial amount over from my bank account. I would have been in a terrible mess. I also understand now from previous reports of the prepaid card that your availability is extremely limited per week.
STAY AWAY FROM THIS CARD. I can't believe American Express would even sign off on this rip off. If you love your friends and family, DO NOT give this card as a gift.