Nationwide Biweekly Administration (NBAbiweekly), A SCAM! HIGH UNDISCLOSED FEES! Deceptive, unethical and borderline FRAUDULENT business practices. Xenia Ohio

My experience with this program pretty much mirrors all other entries relative to this company.  Home-byers, re-financers, etc. should ABSOLUTELY NOT PARTICIPATE in this program and immediately discard all of the many marketing communications you will undoubtedly receive from them.  Their business practices are GROSSLY DECEPTIVE, BORDERLINE FRAUDULENT, and EXTREMELY MISLEADING in every aspect. I am also copying and pasting below some of the other entries in which are duplicative of my own experience:

‘First they made the offer letter look like it is associated with the lender. It came as soon as I had refinanced with the new lender. Then over the phone they never disclosed about the fee they will charge every time. THEY never said they WILL pay the lender once a month. THE worst thing as REPORTED wildly is the hidden $275 [disenrollment] fee which WAS NEVER ONCE disclosed over the phone.’

(It should be noted that each individual’s disenrollment fee is equal to one scheduled transaction.  In my case, it was almost $400.  Relatedly, their website lists a different phone number for disenrollment/deactivation than the original customer service number.  When initiating the disenrollment process, I attempted the disenrollment-specific number and was kept on hold for 5 minutes and the line was eventually disconnected.  I then tried the original customer service number and was connected to a representative within seconds.)

‘This [disenrollment fee] is NOT DISCLOSED ANYWHERE except in a fine print at the bottom of an online form contract you submit electronically. I submitted the form but never used their services, cancelling the bi-weekly program before NBA made any mortgage payment on my behalf. They still withdrew $275 from my account, claiming it then represented a "lifetime enrollment fee." I have absolutely no idea what this money was in exchange for, NBA has not provided me with any service.’

‘I have found out the hard way that they DO NOT pay the bank biweekly as IMPLIED, [STATED and ADVERTISED].  they pay themselves my money every two week[s], earn interest on this amount for themselves. then charge me a fee every time they withdraw MY money.  Then pay the bank ONCE a month.  Their way of lowering the principal is easy to figure out after some research.   two months of the year have an extra biweekly payment which they withdraw is collected and kept , therefore in effect ONE extra payment goes to your bank every year to pay off the principle sooner’

In summation, all “services” offered by this program, which the customer pays for at an inflated and previously undisclosed rate, DO NOT BENEFIT THE CUSTOMER IN ANY WAY. You may learn to effectively manage the desired effect of minimizing mortgage/credit card/loan interest ON OUR OWN AND FOR FREE via research on sites such as wikihow, or by simply contacting your lender directly. It is BAFFLING to me that companies like this are not shut down and subsequently sued in mass tort claims.