Report: #1402594

Complaint Review: Speedy Cash

  • Submitted: Tue, September 26, 2017
  • Updated: Tue, September 26, 2017
  • Reported By: Cynthia — Laporte Indiana USA
  • Speedy Cash

    , Mississippi

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 I received text stating I was approved for a loan. The man said I had to agree not to cancel once the funds were released but then hit me with there of 149.99 for an eft code needed to deposit money. When I said I couldn't pay this he said if I want to cancel I would be charged 699.00 an it would be debited from my account on Oct 3 when I receive me disability check. Need this stopped please!! Cindy L, Indiana

This report was posted on Ripoff Report on 09/26/2017 09:36 PM and is a permanent record located here: 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 Author of original report

Speedy Cash rebuttal

AUTHOR: - ()

 I did contact my bank and advised them of what's going on. They do advise me to close the account or to withdraw my money when the bank opens and to check to see if someone is trying to withdraw any money so I can put a stop payment on it. Cindy LaPorte IN

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#2 Consumer Suggestion

Protect yourself!

AUTHOR: MK1234 - (USA)

To be clear, you are not dealing with any company. The individual you spoke with is impersonating an employee of Speedy Cash. You are dealing with an individual, or group of people who text/call random numbers all day with fake loan offers, in order to scam people. These individuals will steal your money in any way they can. This is why it is so important to call your bank, and take steps to protect your identity. Do not give them any further information; stop any and all communication with them immediately. If you gave them your social security number, google "credit freeze". Also known as a security freeze, this allows you restrict access to your credit report, which in turn makes it more difficult for identity thieves to open new accounts in your name. I'm not an expert in identity theft; please find someone who can advise you on the proper steps to take if you did give them your social security number. A tip for the future, sometimes simply googling the phone number of the person calling will reveal a scam. Always do your research and ask for things in writing before you give out any personal info.

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#3 Consumer Suggestion


AUTHOR: MK1234 - (USA)

 This is a well known scam; there is no loan, and you do not owe them any money. DO NOT give them any money at all. Contact your bank, and tell them what has happened. They will advise on whether or not you need to close your bank account and open a new one. Even if you give them the $149.99, if they have your account details, and you told them when your disability check gets deposited, they will try to withdraw extra money anyway. CALL YOUR BANK NOW.

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#4 Author of original report

Speedy Cash rebuttal

AUTHOR: - ()

 This company does have my personal info and they are going to try to withdraw 699.00 if I don't give them the 149.99 which I believe they want it done through western union. Cindy LaPorte IN

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#5 Consumer Suggestion

Please give us more detail

AUTHOR: EmpathyC - (USA)

This seems to be a well-known and widely spread scam. Though, your report needs to be clarified.

  • How did you obtain so called "loan" in the first place?
  • Did you give any critical personal information (e.g. credit/debit card infos, date of birth, ssn, etc.) to the said "middle man" loan guy?
  • How do they want you to pay? Western Union? Money Gram? Any other ways that do not involve a real bank transfer to them? If so, it is a 100% scam.

The scammers usually take advantages of gullible and/or people who are in dire of money. They will NOT give you the loan anyway once they get your money because it is a scam (lure you in, extort money from you, then disappear). You should ask for their personal information (e.g. where they live, where the money comes from, etc.) because they will give false infos to you anyway. Though, you just try to make them feel like they are smart. Then tell them you need the info because you have contacted FBI and/or local law enforcement who are already investigating this type of scam. If they attempt to scone/scare you more (e.g. they know where you live), don't be scared because they won't show up at your door regardless (or they are risking their own arrest because this is not the first time they scammed people).

If you have not given any information mentioned above, then you are safe and they can't do anything to you. Just ignore them.

If you have given information, then there will be many steps that you need to do in order to be clear from future abuse of information.

First you need to stop the payment just in case. You may read on about how to do so. Basically, you need to give a notice to the bank 3 business days in advance. You should do it in WRITING or in PERSON or BOTH, not just on the phone because you need a paper trail. Just in case the bank screw up, then you can try to get the money back from the bank.

Then if you really want to ensure that they will never be able to do anything with your bank account, you would need to ask the bank to close the account and open another one instead. Or better yet, open another account at another bank and then close the current one. However, you will need to move any money transfer/pay bills from that bank to the new one. That's why it is not easy.

Please be more careful next time. There is nothing free. If the deal is too good to be true, it is very likely not true or a scam; especially, when the deal is about money. Human greed is the easiest way to exploit and that's why there are many scams on money deals.

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