• Report: #1014072

Complaint Review: Kaiku Prepaid Visa

  • Submitted: Thu, February 14, 2013
  • Updated: Wed, February 27, 2013

  • Reported By: Alice Sparks — Riverview Florida United States of America
Kaiku Prepaid Visa
Internet United States of America

Kaiku Prepaid Visa Closed Account and will not release funds Internet

*Author of original report: The Saga Continues...An Update to My Update

*UPDATE Employee: Kaiku Response

*Author of original report: Amazingly similar-Problem Fixed

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My account was frozen because my fiance's tax refund was deposited to my account.  I was told that it is against the cardholder agreement for anyone but me to deposit money to the card.  That money was to be returned and then I had to verify who I was by sending a picture of my drivers license and a piece of mail with my address on it.  That was over a week ago.  My account is still frozen.  No one answers the fraud line or returns messages that are left.  I have over $300 in that account that I cannot access and the tax refund has not been received by the sender yet so we can have it re-directed.

This report was posted on Ripoff Report on 02/14/2013 07:18 AM and is a permanent record located here: http://www.ripoffreport.com/r/Kaiku-Prepaid-Visa/internet/Kaiku-Prepaid-Visa-Closed-Account-and-will-not-release-funds-Internet-1014072. 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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REBUTTALS & REPLIES:
2Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

The Saga Continues...An Update to My Update

AUTHOR: Alice Sparks - (United States of America)

So, Kaiku says they wired the offending tax refund to the IRS.  The problem is that a) the money didn't come from the IRS and b) neither the IRS or the sending bank have received the funds after another 2 weeks. 

I have a federal wire transfer number, but customer service continues to say that they cannot trace the funds and that they were sent back to the IRS.  When I have asked to speak to a supervisor, I am either conveniently disconnected or there is no supervisor available.  Looks like I need to go back to the BBB and copy all of this to the corporate offices again.
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#2 UPDATE Employee

Kaiku Response

AUTHOR: Kaiku Customer Service - (United States of America)

At Kaiku, we are concerned with protecting our cardholders from any fraudulent activity and following all rules and regulations that govern our industry.  The IRS requires that the name on a tax return must match the name on the account into which the tax refund is deposited.

In this case, the name associated with the tax refund was different than that of the cardholder, and accordingly, a hold was placed on the account.  The cardholder was contacted to inform them of this and request documentation to validate the cardholder identity and support that the tax refund belongs to the cardholder.  The cardholder provided the requested documentation and we notified them that the refund would be unloaded and returned to the IRS since the tax return did not belong to the cardholder.  The unload process takes a number of days, and had to be completed prior to removing the hold.  The unload has been completed and the hold removed from the card.  We apologize for any inconvenience that the cardholder has experienced.

At Kaiku, we want to delight our cardholders with a great product that is value for money.  We continue to look for ways to improve the experience and our product offering.
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#3 Author of original report

Amazingly similar-Problem Fixed

AUTHOR: Alice S - (United States of America)

So, just like Brock Sweigart (http://www.ripoffreport.com/kaiku-finace-llc/financial-services/thousand-oaks-california-405a7.htm), after 2 weeks of no response, last night (after filing the initial report and emailing customer service with the link), I received a message from a customer service rep and 2 emails stating that everything was fixed with my account and thank you for my patience.  Needless to say, this morning I pulled every last penny out of the account and will continue to let anyone know not to use this company.
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