Complaint Review: Zashpay - Internet
- Zashpay Internet United States of America
- Phone:
- Web: www.zashpay.com
- Category: Financial Services
Zashpay Holding your funds and lying about why Internet
*UPDATE Employee: Response from ZashPay
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Zashpay is a company that holds itself as being an affordable service for small businesses. They claim to provide a fast and easy way to transfer funds to employees or individuals. In fact, they are in the business of holding your money and making interest on it during the time they hold it, much like many credit card processing companies.
I recently had some funds sent to me by an employer. He was told by Zashpay that the funds transfer would be completed within one business day. In fact, I received a notice from Zashpay stating that funds had been transferred to me but that I would not receive them for 7 days! I called Zashpay to ask why and was met with a representative that simply had a canned answer that "any hold on my funds depends on my bank". This is a flat out lie. An electronic funds transfer takes one business day or "night cycle" . The funds were sent to Bank of America, so it is not like they were sent to some oddball bank with strange hold policies. Anyway, Zashpay held my money for an entire week and it caused me all kinds of problems.
This is a dishonest company that is in the business of tricking people so they can hold people's money for their profit. When I tried to reach anyone other than the representative using a script, I was met with more canned email responses and lies.
This report was posted on Ripoff Report on 12/06/2011 01:26 PM and is a permanent record located here: https://www.ripoffreport.com/reports/zashpay/internet/zashpay-holding-your-funds-and-lying-about-why-internet-805723. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 UPDATE Employee
Response from ZashPay
AUTHOR: Nicole F. - (United States of America)
SUBMITTED: Tuesday, December 13, 2011
Thank you for sharing your recent experience with ZashPay. It is true that payments initiated via ZashPay may take as little as one business day, if both the sender and receiver already have an established account with the service. However, in some cases, due to varying financial institution policies, payments may be held to allow time for the funds to clear before being deposited to the recipients account. Typically, this hold period is three business days. If you experienced a longer hold, it may be because the verification of funds hold is based on business days rather than calendar days a weekend or a holiday can extend the typical hold to a longer period of calendar days. Please be assured that ZashPay transactions are not being held for profit.
If you have other questions, we would be happy to have a member of our customer service team research the matter further for you; just gives us a call at 877-898-5343.


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