• Report: #140421
Complaint Review:

Spectra Financial Services

  • Submitted: Tue, April 26, 2005
  • Updated: Tue, April 26, 2005

  • Reported By:Callao Virginia
Spectra Financial Services
100-A Walnut St #253 Champlain, New York U.S.A.

Spectra Financial Services RIPOFF Attempting to get results Champlain New York *EDitor's Suggestions on how to get your money back into your bank account!

*Author of original report: Getting My Money Back after following Rip-off Report instructions! thank you!

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I printed your info on getting my money back carried it to the bank had the bank manager read it... paid the 20.00 fee and my account was immediantly credited back the 249.00 fee. Closed my account contacted MasterCard who by the way was not surprised which means they knew about Spectra and their scam... I then Contacted the Federal Trade Commission and TransUnion Consumer Credit and put a fraud alert out for myself so that if anyone tried to get credit in my name with my info I would be contacted first...DO THIS...I also filed a complaint with my local police department. Spectras Info packet came today and guess what NO credit card. it is a card in which you have to deposit money into basically like an atm card. When I set this up I specifically asked this is just like a credit card its not secure and I can go buy something as long as I had the credit I was absolutely assured it was not a secured card and it was just like any other unsecured card. the information packet wanted 2 forms of goverment id and another processing fee of 39.95. tell me why would i have to pay interest on MY OWN MONEY in 3 years! The FTC says it is illegal for them to charge an upfront processing fee. by the by the withdrawal from my account was made by SUREWAY..

Callao, Virginia

EDitor's Suggestions on how to get your money back!


Go to your bank within 60 days of the charge, or as soon as you know about the charge, don't delay, and tell them that there has been fraudulent activity within your account. Explain that you wish to file a dispute, and demand that they assist you in accordance with Federal Regulation E.

According to the majority of victims interviewed by Rip-off Report, those who immediately called their banks to dispute the charges did not get very far. Many victims got the following responses from their banks: we could not do anything for you or you waited too long; it has been more than 60 days.

If the bank is says that you have waited too long, explain to them how you called their 800 number as soon as the charges were found, and were told by the bank that nothing could be done. Remind the bank that they failed to assist you properly at the 800 #, and instead, provided you with an inadequate explanation of your right to dispute. Tell the bank that it's their fault time has expired, and since they gave you the wrong info to begin with, they will just have to deal with it, take the loss and reverse the charges.

Tell them the truth; this was unauthorized and your account was NOT to be charged! Keep emphasizing how you never authorized anything! Direct them to the hundreds of victims reports that were filed on Rip-off Report.com. And if you're at the bank, walk them over to their computer and make them go to this site! If you are on the phone with them, tell them you will wait while they access this site! Either way, be persistent!


Let them know nicely, that you were advised to Report them (the Bank) and this situation to the Banking Commission in your state. Since each state has a different name for the agency/controller over banks, find that name before you call or get to the bank so you can throw it in their face. The more knowledgeable you appear to be, the further you will get.

And just continue to demand the Federal Regulation E form! The bank CAN, MUST and WILL reverse the charge! But, you must be persistent; ask to speak to the supervisor or the area manager for all the branches in the state.

Let the bank personnel know you are meeting with the media later in the day, that you would much rather they do the right thing (as most other banks have) by looking at the complaints and immediately reversing the charge(s) to your account; no matter how long ago it was. Be sure to call the Media if necessary so you are telling the truth.

If you have to, be loud (but nice) in front of other customers. If you are just calling by phone, the above tactics should still work. The bank can easily fax or mail to you the Federal Regulation E dispute form.


If the charge was to your credit card (not debit card, check card, or checking account), contact the credit card company as soon as possible to request a dispute form. Consumers usually have a little longer to dispute fraudulent credit card charges (up to 6 months), but it is better to act right away. In this type of situation, credit card disputes are usually successful since fraudulent companies often won't contest the disputed charge. In rare cases, credit card companies will review disputes, but refuse to reverse the charges. If this occurs, complain to a manager and let them know you will be filing a report here.

Remember Don't let them get away with it! Make sure they make the Rip-off Report .. The more Reports filed on a Company or individual, the more likely it is that the authorities, media and attorneys will want to take action.

And good luck Let us know how you do!

ED Magedson Founder, Rip-off Report.com & Author of www.ripoffrevenge.com

Don't let them get away with it.
Make sure they make the Rip-off Report!

We are not lawyers.
We are not a collection agency.

We are Consumer Advocates.
...the victims' advocate

WE are Civil and Human Rights Activists

We are a Worldwide Consumer Reporting News Agency
...by consumers, for consumers

CLICK HERE to read about Credit Card Scams... find out how to get your money back. *Rip-off Report Investigation provides valuable information.

This report was posted on Ripoff Report on 04/26/2005 10:32 AM and is a permanent record located here: http://www.ripoffreport.com/reports/spectra-financial-services/champlain-new-york-12919/spectra-financial-services-ripoff-attempting-to-get-results-champlain-new-york-editors-s-140421. 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 Author of original report

Getting My Money Back after following Rip-off Report instructions! thank you!

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

I printed your info on how to get my money back carried straight to my back and had them read it filed the ACH...They are putting my money back, closed my account contacted the local police department FTC and also the TransUnion and put a fraud alert on myself .........DO THIS....you will be contacted if someone applies for credit with your info in your name or uses any of your information.....my packet from spectra come today....NO CREDIT CARD....turns out its not more than an atm card...they also want 2 forms of goverment id...and another 39.00 processing fee....i specifically asked if it was a secured card and assured it wasnt....and why would i pay interest on MY OWN MONEY....Spectra Financial advertises in newspapers also dont be fooled.....oh by the way the debit from my checking account was made by SUREWAY the phone number on my checking account for Sureway was also another number for the answering service for Spectra I called and specifically asked this .... I also contacted MasterCard and they immediantly put me in touch with their fraud department who is aware of the fraud
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