I recently received a Net Spend card and thought it would be a great card to have. I immediately signed up for Direct Deposit. Everything was fine until a Pending Transaction for a purchase that I originally made but cancelled the same day had not been released back onto my card. I contacted customer service and received this explanation as to how long money is held before being released back onto the card:
If the merchant does not collect, our system will automatically put the funds back into your available balance. The timeframe for this automatic process depends on the dollar amount and type of merchant.
"¢$199.99 or less – Returned after seven (7) days
"¢$200.00 or more – Returned after thirty (30) days
"¢Car rentals and hotel stays for any amount – Returned after thirty (30) days
My charge is $300 which is a LOT of money to have on HOLD for 30 days. I think it's sad that they get away with this and the consumer has no recourse but to wait. NEVER AGAIN!!!
Product or Service Mentioned: Netspend Debit Card.