• Report: #992756

Complaint Review: American Express

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  • Submitted: Mon, January 07, 2013
  • Updated: Tue, January 08, 2013

  • Reported By: Willnotbescammed13 — MORRISVILLE North Carolina United States of America
American Express
Internet United States of America

American Express Bluebird Wal Mart, Bluebird Says It Does A Lot, But Does Nothing But Cause Grief Internet

*Consumer Comment: Interesting

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I signed up for the card about three weeks ago. The main reason why I decided was because I saw advertising that stated Amex prepaid cards would get the wonderful benefits Amex had to offer. I also needed a card that I am able link other accounts as well as pay bills. Those two needs were the most important.

When I got my card, I immediately began trying to link accounts. First it was my paypal. The trial deposits went through successfully and the account was verified. The next account was my main bank account which I paid all my bills with. I was told that verification make take a while and it was the holidays so when it didn't go through immediately, I wasn't worried. 
 
I tried to sync it Facebook Amex and it failed stating that the card wasn't valid for it. Then on payday, I was also told my direct deposit had until 2pm to be deposited. I was used to having it early in the morning. 

As soon as the my money hit the account I began paying my bills by linking my bluebird to the accounts. I paid 5 bills. the following week I began receiving emails stating that the link failed. Out of the 5 bills I tried to pay, only 1 went through. I also realized that the card did not link to my previous bank account. My bills are due and cannot pay them because of this.

While all of this was going on, I knew I had a bill coming out of my previous checking account and needed to put money in it ASAP as my direct deposit was now being sent through Bluebird. Since the card did not link to my previously checking account,  I sent the money through my paypal.

A few days later, I received an email saying that the transfer failed due to my account not being verified. As of today, my previous bank account is now overdrawn  $115 and because the bank is up north where I'm originally from, I can't put any money into the account.

While that was going on, I decided to give the account one last try and ordered a American Express prepay card to link to my bluebird account. I figured it wouldn't be a problem since it's the same company.

I was wrong.

I received the trial deposits and was waiting for the email to setup my account but instead I got an email stating that the deposits were unsuccessful. I called the number to find out was going on and the woman on the other line was, although nice, not helpful at all. I asked what happened and all she said that there was something about my information that couldn't be verified. I asked her what it was, she couldn't tell me. I asked her how was I suppose to fixed the problem and she couldn't answer.

If it wasn't for my sister raving about how great Amex was, I would honestly think this card was a scam. I am so disappointed in this card and the service (or lack there of) it provides. I am now stuck running around trying to find places that will except that  card. (I almost ran out of gas and stranded myself)!

This report was posted on Ripoff Report on 01/07/2013 12:18 PM and is a permanent record located here: http://www.ripoffreport.com/r/American-Express/internet/American-Express-Bluebird-Wal-Mart-Bluebird-Says-It-Does-A-Lot-But-Does-Nothing-But-Cau-992756. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

Interesting

AUTHOR: John R - (U.S.A.)

It seems there is alot more to this new BLUECARD card then meets the eye. I have worked in the retail industry for several years and do know that American Express is NOT accepted in many small venues. The reason they are usually not accepted is because of the high discount rate they charge the merchant on submission for settlement. This amount can be up to 4% of the total sale price. In other words the merchant only receives 96 cents on every 1 dollar as deposited settlement. (this includes sales tax of which the merchant is 100% responsible for)

Visa and Mastercard are flexible in their discount rate and can charge, depending on the card processor (not merchant) up to around 2.5% on total sale. American Express is noted for undue delay in depositing these funds to merchant accounts. They, American Express, also issue separate statements from all the other cards to the merchant.

American Express could have avoided all of this by having American Express Bank as the issuer of BLUEBIRD as they are FDIC insured. Admittedly the government regulation they are hiding under (31CFR 210.5 (b)(5)(i) in part says : Where a Federal payment is to be deposited to an account accessed by the recipient through a prepaid card, says the statute, the account has to be at an insured institution, and it has to have FDIC insurance.) is to their advantage not to use this bank as this would increase the amount they would have to pay into FDIC.

This only enforces as to why American Express  ever came into holding an FDIC bank was to receive tarp funds to insure day to day operational expenses (bail out) in 2008/09 ( American Express received 3.39 billion in TARP funds on January 9th, 2009)















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