• Report: #197611

Complaint Review: Direct Merchants Bank

  • Submitted: Thu, June 22, 2006
  • Updated: Wed, June 28, 2006

  • Reported By:Mulberry Florida
Direct Merchants Bank
PO Box 5241 Carol Stream, Illinois U.S.A.
  • Phone: 800-379-7999
  • Web:
  • Category: Banks

Direct Merchants Bank Payoff for a card was not accurate a bunch of thieves Carol Stream Illinois

*Consumer Suggestion: What did the balance consist of?

*Consumer Comment: Hmmmm

*UPDATE EX-employee responds: Read

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On 5/24...after we had completed a refi for our home,I called Direct Merchants for a payoff of our MasterCard....as of that day.

I was given a payoff that was supposedly good thru the end of May.(and I asked several times if it was the true amount...answer was yes...both times)
Did a phone payment that same day...for the full amount that I was given.

Asked again before we ended the conversation.
"0 balance now?"
"Yes sir...0 balance".

Today...we get a bill saying we still owe $308.00.
I called and was told that the previous payoff figure was not the actual amount owed.

Apparently I'm supposed to pay for their error.
All the info from this transaction will be forwarded to our State Attorney General...Charlie Grist----
What a bunch of thieves.

Mulberry, Florida

This report was posted on Ripoff Report on 06/22/2006 12:20 PM and is a permanent record located here: http://www.ripoffreport.com/r/Direct-Merchants-Bank/Carol-Stream-Illinois-60197/Direct-Merchants-Bank-Payoff-for-a-card-was-not-accurate-a-bunch-of-thieves-Carol-Stream-I-197611. 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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Updates & Rebuttals

#1 Consumer Suggestion

What did the balance consist of?

AUTHOR: Stile - (U.S.A.)

Cash and Balance transfers typically have a daily interest rate, and this may be why they quoted you an incorrect amount. If it was all purchases, then there shouldn't be a daily interest rate involved. If it was Cash or BT then you may be out of luck, but if it was purchases then you may be able to recover some of the interest and fees. Call DMB and speak to a sup, maybe suggest that you'll close your card, see what they're willing to do.
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#2 Consumer Comment


AUTHOR: Dennis - (U.S.A.)

Alex...are you a current/ex-employee of DM or another similar institution?

I was not late on any payments. And I never paid a lawyer for their services.

I called for a pay-off of my account. That's it.
I was given a specific amount, and that's what they were paid.

There was no cash balance involved, the card had not been used in almost 2 years.
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#3 UPDATE EX-employee responds


AUTHOR: Alex - (U.S.A.)

If your account had a cash balance which compounds interst daily then you are not paying for anyone's error, your simply being billed for daily compounded interst- so before you go huf and puff into the Attorney Generals Office (like their going to jump to your rescue) read the fine print.

Its funny how everyone who gets a late fee or some other fee all of the sudden has tons of money to retain an attorney at $300 an hour- yet can't seem to make a payment on time...hm......
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