Frozen Funds Fiasco: Green Dot Bank Under Investigation
A surge of customer grievances regarding frozen accounts at a well-known US bank has reportedly prompted an inquiry by the Better Business Bureau.
For the second consecutive week, a cluster of clients from Green Dot Bank, associated with Walmart and TurboTax, has reported their complete inability to reach their funds, as per information from NBC News.
With a customer base of 33 million, the bank is currently under the scrutiny of the Better Business Bureau due to an “influx of complaints against Green Dot.”
Reports concerning the inability to access funds have consistently appeared in the comments section of the web outage tracker UpDownRadar.
Over the past fortnight, NBC News conducted interviews with seven individuals who have faced challenges logging into their accounts and utilizing their finances.
Five were informed that the issue stemmed from maintenance, while two were informed that their accounts had been flagged due to suspicious activity.
Alison Lubert, the spokesperson for Green Dot, explained that recent technological upgrades caused temporary disruptions that have since been resolved. Lubert emphasized that only a “very small portion of customers” were impacted, and the bank has issued credits to those locked out of their accounts.
READ MORE: Bitcoin: Glassnode Co-Founders Share Bullish September Optimism
However, at the time of this publication, at least one of the individuals struggling with the maintenance problem still cannot access their funds.
A representative from the Federal Reserve acknowledged being aware of the recent complaints against Green Dot. However, they declined to confirm or deny whether an active investigation into the bank’s practices is underway.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
