A 28-year-old living in Lexington, North Carolina, tried to make a purchase with her RushCard on October 12, Vanessa Tackett. Tackett’s card had been declined, which she at that time caused by a systems update that RushCardвЂ”a pre-paid debit card that can help make payments, withdraw cash, and enjoy direct deposits, it isn’t connected to a conventional banking account, and does not demand a credit check or credit historyвЂ”had notified its users it might be doing.
“that they had sent a message, perhaps a week-and-a-half prior to, saying the cards would not be working between midnight and 8 a.m. Then they delivered a text message that saying the outage would last until noon,” Tackett says morning. “we tried to make use of the card later on that day, and it also did not work. https://autotitleloanstore.com/payday-loans-ga/ However they don’t say any such thing in regards to the cards nevertheless being all messed up.”
2 days later on, Tackett, whom works full-time at Dollar General, discovered that her paycheck, that is direct-deposited onto her RushCard biweekly, had never showed up. After logging onto Facebook, Tackett discovered she wasn’t aloneвЂ”hundreds of several thousand RushCard users had been locked from their records, struggling to access any one of their funds. While RushCard claims the thing is mostly resolved, Tackett nevertheless has no usage of her funds, making her one of the “handful of men and women” who RushCard admits are still experiencing accounts that are faulty.
The unbanked and underbanked are disproportionately low-income, young minorities.
The difficulties with RushCard, that has been started by hip-hop mogul Russell Simmons in 2003, have actually brought in to the spotlight the 25.4 million Americans described by the Federal Deposit Insurance Corporation as “unbanked” (7.7 % of households in the usa)вЂ”that is, lacking a checking or checking account. In addition, 67.5 million People in the us are “underbanked” (20 % of U.S. households), meaning they have a back account but additionally use “alternative monetary solutions,” an amorphous category that includes payday lenders, pawnshop lenders, and check-cashing services. Continue reading Let me make it clear about Is RushCard actually the Problem?