Posted on 03/10/2011 6:23:31 PM PST by fuzzybutt
Just wanted to warn everyone that there is a MAJOR scam is being perpetrated against employee’s nation wide. It is scam totally designed to loot the paychecks of employees. Let me explain why. My wife works for a large corporation that as of this week stopped handing out paychecks. Now you get your pay on a "Money Network" Visa card. Now on the surface this sounds great but like most things sold as a lie it has a dark underbelly.
There are hidden charges for everything and everything about the program is designed to make it near impossible to actually use or access your money. You are even charged if you call for tech support! You can only remove cash without fees from "authorized ATM's" and you guessed it, there are only 16 in the entire county and it is 3 miles to the nearest one. It is virtually impossible to get your pay and I know there used to be laws against such things but not any more I guess.
Do a Google search on "Money Network" and there are endless stories, postings & complaints about this underhanded & immoral flimflam. The only positive things you will find are the ones posted by the company and like everything from Democrats it is all lies. Need to move cash to your personal bank account? They hold the funds for almost a week. Need money from an ATM, get a paper statement or even if you check your account balance they charge you.
Now for the real kicker, even though this is a Visa debit card; VIRTUALLY NO STORES WILL TAKE IT AS SUCH. That’s right stores actually refuse to accept the card as legal tender. They must know something the rest of us do not know.
Thanks for allowing me to rant on this. Ever since my wife brought this information home from work I have been getting madder & madder. The more time I spend online reading the thousands of tales of woe caused by these evil filth. I truly hope no other Freeper ever has to deal with these criminals. “
It’s the wild west out there FUZZ. Cover your ass.
Huh? Who would think that?
Why would any company waste time with anything but direct deposit or paper checks for their payroll?
They might be saving costs on payroll processing. It can be expensive.
Ummmm, it’s called direct deposit. If they offer putting all your money on a card then they should offer direct deposit into your account. If they don’t I’d report them to the better business bureau. I’d even contact your local congresscritter too. You are entitled to your pay on payday, not be given some card that has a bunch of fees attached to it.
correct
and it is 3 miles to the nearest one
3 miles is not that big a deal. Just take out all your money in cash each week and be done with it.
I’d expect most of the cost of payroll processing is for determining how much to pay each person based on hours worked, salary, deductions, etc. This would all still have to be calculated in order to give someone some odd debit card payout and annoy your employees.
I wondered the same thing but that is the kicker here. There is no direct deposit allowed. Deal is take the card or quit and even if you quit your last pay will be put on the card.
My best guess is that the companies are getting a kickback from the stolen loot. Why would they give up direct deposit that cost them virtually nothing?
I run a small business. Figuring out what to pay people is part of the cost. You also have to pay the processing company to process. You can do it yourself but then you have more labor involved with filing reports and returns.
“”there are endless stories, postings & complaints about this underhanded & immoral flimflam””
I googled Money Network and don’t see what you refer to above. All I see are people selling that service. Can you point us to more complaints about this setup?
Does your wife’s employer have a lot of ‘unbanked’ employees?
I understand that, but how would paying out via debit card reduce those costs?
Written exactly like an e-mail urban legend, complete with the horrific grammar.
Add the words scam, ripoff, or hate and watch them pour in.
Its not the BBB that controls. Its a legal issue if your employer isn’t paying you properly. Of course there’s always the chance of pissing the employer off.
Quit.
There might be some kind of kickbacks involved. More likely the company has really low fees. Depending on the size of the company payroll companies can easily cost several hundred dollars to a few thousand dollars each pay period.
If the company gets a break on those fees it would save them money.
Is this an employer you'd actually care if you pissed off? I thought I'd worked for some crappy people.
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