A few months ago I opened an account with NetBank. My wife and I live on our sailboat and are planning to leave the Los Angeles area in November of this year.
I opened this account for the purpose of having my retirement income direct deposited to a central location while we are traveling. In order to do this I used my mother in laws address in Florida which I use as my home address.
I filled out the application for the account online and funded it with my Visa Bank card from our bank in Los Angeles. After they accepted the deposit NetBank decided that they were going to put a hold on the account and demanded that provide them with the source of my retirement income and a copy of a utility bill from my mother in law.
At this point I became concerned that this might possibly be an information collection scam and decided that I did not want the account.
I have emailed them several times to close the account and return my deposit to the account it originally came from. They flat refuse each time stating that they will not return my money until I provide them with the information they demand.
This increasingly indictes to me that they are fishing for the information for some illegal purpose. In my last email to them I stated that I saw no legitimate reason to provide them with any information and to close the account and return my deposit to the account that it came from. They have the account information from which my deposit came from in their records, so there is no possiblilty that it will not be returned to it's originating source. They refused.
I am currently looking for that proper state and federal authorities to make a report to. Also I would like to get in touch others that have had similar problems with NetBank to for the purpose of filing a class action law suit.
Seal Beach, California