Instant Financial Reviews (%countItem)
Instant Financial Rating
Address: 2500 Northwinds Pkwy STE 275, Alpharetta, Georgia, United States, 30009-2265
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Instant Financial claims to be a secure database, but my account information was somehow hacked from their site and all of my money was stolen.
On May 22nd, 2020 at approximately 9am I logged in to my Instant app to check how much my tipshare was from the previous day and noticed that someone had stolen all of my tip money from the previous 10 shifts I had worked.
I work in a restaurant that has unfortunately forced us to use these cards even though none of the employees feel safe using them.
Instant issues a card that connects to the account # set up between us and our employer. The card has no chip or name on it. No security at all.
Because Instant Financial charges a fee to use most ATMs or if you withdraw money more than once a week you are charged a fee. Same with transferring directly from instant into a bank account.
I don't think it's fair or necessary to be charged extra fees to access my money I earned at work. I mean, who else in the world has to pay $5-$10 to access their paychecks??? Because I don't want to pay those fees I am limited to the number of times I can withdraw my money from a bank. I usually do this at the end of every work week/ every other work week.
As soon as I noticed the fraudulent charge of $363 PLUS the additional $5.50 worth of service fees on my account, I let Instant Financial help center know and began a dispute.
I live in Arkansas. I was on day 7 of 7 straight days of work.
On May 20th, someone hacked my card information from Instant Financial and they were able to pull my money ($363 + $5.50 in service charges) from an ATM in Illinois.
I have my card in my wallet. No one else has access to it. I've never used it for online shopping. The most recent prior personal use of the card was on March 16th. Over 2 months had gone by that I had not used my card because our restaurant was shut down for covid and I had no money going on to the card.
Once I contacted Instant Financial (on May 22nd) no one was able to give me any information as to how my card # had been stolen. They also did not let me know how much time it would take to get the dispute resolved.
As of May 26th, I still had not heard from anyone regarding my missing money. I contacted them again via their personal chat (thats the ONLY way to get ahold of them). I was given no information about who I was speaking with. They informed me that disputes take 45-90 days to process and that there was absolutely no one higher up that I could speak to.
I truly believe that the lack of security with their company is the reason my money was stolen. I am disgusted with the fact that I busted *** my first week back to work after having to stay home for 2 months due to Covid was a complete waste of time. I have bills to pay. I cannot wait 90 days to get my money back that was CLEARLY stolen due to their negligence. I've already paid taxes on that income and now I am out that money as well.
I have coworkers that have had money go missing from their accounts and their information hacked as well. This company is screwing it's customers and we are just working people trying to make a living. None of us wanted this. We were all fine with waiting to get our money the next day.
I want my money and the extra fees returned to my account so I can pay my bills.
To our customer,
We have been in contact with you regarding the mentioned and opened a dispute case on your behalf. We will continue to work through this reported issue with you directly.
At Instant, we hold account and card security to the highest priority. Fraud is unfortunately a reality in all card programs, but at Instant we are proud to say our rates of reported fraud are lower than the industry standard. We have a fraud team that actively (24 hours a day, 7 days a week) monitors for fraudulent activity within our card program, and works to stay ahead of common fraud trends. We also have educational resources in our FAQ on preventing your card from being compromised:
https://instant.zendesk.com/hc/en-us/articles/XXXXXXXXXXXX-How-can-I-protect-my-Instant-Visa-Debit-Card-from-fraudsters-skimmers-and-more-Card-Safety-and-Security-
However, if fraud or service issues do occur on your card, all Instant cardholders are backed with Visa Zero Liability protection. The Instant disputes team is in place to investigate fraud claims and to ensure that funds are returned to the cardholder when the claim is verified as unauthorized. As stated, there are time parameters that the disputes team is obligated to uphold for investigations.
We will also be in touch with you directly regarding some of your other comments, such as the many ways to access your funds for free, as listed in this FAQ article:
https://instant.zendesk.com/hc/en-us/articles/XXXXXXXXXXXX-How-do-I-access-my-funds-
We recognize the opportunity to coach our Support team members to uphold a higher standard of empathy and experience, and will also address this with you directly. Thank you for your comments as this will help us address quality concerns which will improve the overall experience for other customers who are going through the stress of an unauthorized transaction dispute.
We hope we can address your questions and concerns with you directly, please keep an eye out within your email (as well as spam and junk folders) for our email communication.
Taking too long to transfer my money to my bank account with no explanation or notice. Beyond the 1-2 business days.
Tips get put on instant financial from employer. I always transfer my full balance to my bank account to pay my bills. Usually 1-2 business days is the normal. This time I submitted my transfer on Monday morning May 11, 2020. It's Wednesday May 13th and still no money in bank account. I contacted the online chat help and was told that transfers were taking longer than normal. Person could give me no explanation as to why. There should be no reason for them to be holding onto my money that I worked for, for that long. I need my money now. How is it legal for them to operate like this?
To always transfer my balance in the 1-2 business period or give notice if their is a problem or delay. Also would like further explanation why transfer would be taking longer than normal.
Dear Instant Customer,
We thank you for bringing this matter and your proposed solution to our attention. We acknowledge and apologize for the inconvenience caused by the delay in receiving your bank transfer that was initiated through the Instant App. Our estimated time for a bank transfer to be delivered is 1-2 business days, depending on the time of initiation. On the particular business date your bank transfer was batched to send, we had a technical issue with our Partner Bank that prevented us from upholding these estimated delivery date parameters. Once we resolved the transfer issue with our Banking partner, most customers reported that their bank transfers were successfully received by Thursday, May 14.
With regards to the Support interaction, we apologize for the lack of information you received from our Support Agent regarding this issue. We will be following up with the appropriate parties of our Support Teams to ensure we are abiding by a high quality of customer experience, and providing clients like yourself with the information they need to feel informed and cared for, especially in the midst of a technical issue.
We thank you for your suggestion to provide more informative explanations to the possible causes to a delay in a transfer. As a result of this incident, we are committed to instituting a new communications process to proactively inform affected clients in the event of a bank transfer delay, as well as relevant updates regarding the status of resolution of the issue. For example, if this event occurs in the future, our Support Communications Team will send an email alert to any affected clients of the issue at hand, any pertinent details, and timely updates and developments regarding the issue.
Finally, we thank you for being an Instant Customer, and for your thoughtful suggestions - this new process that we will be implementing will not only help us keep our customers better informed, but hold ourselves to a higher standard of customer experience.
(The consumer indicated he/she ACCEPTED the response from the business.)