• Report: #855929

Complaint Review: Econocheck

  • Submitted: Mon, March 19, 2012
  • Updated: Mon, March 19, 2012

  • Reported By: Linda — Memphis Tennessee United States of America
Econocheck
Internet United States of America

Econocheck administrator for Monumental Life Insurance Company deceptive advertising, disingenuous, greedy Internet

*UPDATE Employee: Company Response

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In reconciling my 90-year old mother's bank account online, I found and questioned an $3.95 monthly auto debit which turned out to be for one of two 'accidental death' insurance policies, apparently promoted by her bank.

Since it was not clearly identified, my mother thought it was a regular bank charge.  True, at the time, my 77-year old mother should have been more vigilant when she signed on for what she thought was a form necessary to open her bank account (Sun Trust, Memphis, TN).  

The offer, through Monumental Life  Insurance, Cedar Rapids, Iowa, administered by the Econocheck was deceptive and disingenuous. Mother remembers signing nothing, but again, in the shower of papers included in bank account literature, perhaps she did.  In any case, more than $600. has been withdrawn and it was not realized until I showed my mother how to do online banking last month.  

She has now closed her account with Econocheck/Monumental, but I would hope that this unconscionable act is righted with a refund.  I am sure that only unwitting seniors and perhaps those less astute fall victim to such deceitfulness.  Shame on you, Econocheck and Monumental Life.  

This report was posted on Ripoff Report on 03/19/2012 07:36 AM and is a permanent record located here: http://www.ripoffreport.com/r/Econocheck/internet/Econocheck-administrator-for-Monumental-Life-Insurance-Company-deceptive-advertising-disi-855929. 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 UPDATE Employee

Company Response

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

At Monumental Life Insurance Company nothing is more important than our customers' satisfaction and our Company's reputation.  We take pride in researching and responding to customer concerns.  If you would like for us to research your concerns, please forward your information, such as name, address, phone number or policy number to us at custrel@aegonusa.com, by fax to 410-209-5926 or write to Consumer Affairs at 100 Light Street, Baltimore, MD 21202.
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