ED Magedson – Founder
GE Capitol Bank GE Bank promised us a loan for $5000, but told us we needed 10% in the bank to get it. New York New York
GE Capitol Bank called us after we applied on line for a loan. A man by the name of George Miller said he was a supervisor and he would help us. He wanted to know how much of a loan we were interested in. We told him that we wanted $5000. He told us that we qualified, and that the interest rate would be 10%, a flat rate. He said that we would need to show that we had the 10% in the bank, and that as soon as we could do this, he would transfer the funds to our account. He had our name, address, phone number, bank account number, and routing number from the application we filled out. He told us that the bank wouldn't let him access our account, and the only way that he could do the transaction was for us to get a Vanilla reload card and put $500 on it and give him the number off the back so he could enter it into the system. My wife couldn't get a vanilla reload card, so he told her to get a green dot card which she did. She put $490 dollars on it which he said to do, then he said we needed to get another card because it had to be exactly $500. We did this and gave it to him.
He called later and said the trasnaction went through. We checked with the bank, and no money was put into our account. I called George Miller to find out what happened. He told me that the credit department had the money on hold because our credit wasn't good enough. I talked with a wonam Anna Watson, and she told me that our credit had to be excellant for this transaction to be released, and said that she could fix our credit, but it would cost $438.75 because they charge $1.95 per point to do this. I told them to forget the load and just send our money bac,k, and they told me they couldn't do that, because the transaction had already been made. Later George Miller called and told us we would be responsible for the $5000 even though we didn't get the money, because their records show that the transaction was made. I sent a complaint to the Attorney General of Pennsylvania, and to the Attorney General of New York. I will put a stop on the bank, so they can't take money out of our account if I can. George Miller called again, and told me that as soon as we could send the $438.75, that the money will be released, and that $5990 would be credited to our account. I'm leary obout sending any more money, for I believe this is a scam. If this is the way GE Bank does banking with all their customers, they all should be fired. I hope that one of the Attorney Generals can do something, either get our money, or if it is a scam, catch them.
This report was posted on Ripoff Report on 09/15/2013 11:04 AM and is a permanent record located here: http://www.ripoffreport.com/reports/ge-capitol-bank/new-york-new-york/ge-capitol-bank-ge-bank-promised-us-a-loan-for-5000-but-told-us-we-needed-10-in-the-ba-1084677. 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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