28
Jan 2008

Prepaid Debit Card Issuer EdebitPay Settles for $2.2 Million

The Federal Trade Commission announced that EdebitPay will pay $2,258,258 to compensate consumers affected by unauthorized debits. The FTC also alleged that EdebitPay was guilty of deceptive marketing practices.

Consumers complained to the FTC that a $159.95 fee was charged without their consent. Some consumers were debited even though they did not complete the online application for prepaid cards. This fee was labeled as an “application and processing” fee.

Consumers that received the following cards or loans should contact the FTC for information on the settlement or to file a complaint:

  • Acclaim Visa
  • Impact Visa
  • Sterling Visa
  • VIP Advantage Visa
  • Vue Visa
  • Elite Plus MasterCard
  • Impact MasterCard
  • Secure Deposit MasterCard
  • VIP MasterCard
  • Vue MasterCard)

This may also include short-term loans from:

  • www.SuperAutoSource.com
  • www.SuperCashSource.com

If you have one of these products and feel that you have been charged an unauthorized fee, you may contact the FTC. EdebitPay is required under the terms of the settlement to  resolve any complaint regarding unauthorized debits within 30 days of the complaint.

You can protect yourself from fraudulent activity by investigating any company prior to entering into a financial agreement with them. Your state’s attorney general or local Better Business Bureau are great places to begin.

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