Kaiku Finance

Review: I had to file some transaction disputes with this company. One involved an issue with an ATM, another with a purchase from a retailer, and about 18 Facebook transactions that I did not initiate. The dispute for the ATM issue I faxed the first time on February 14th. On March third I faxed the others. This company has a policy stated in the card holder agreement that if the issue is not resolved in 10 business days, a provisional credit would be applied. Apparently Kaiku claimed as of the 12th of March that they had not received the disputes despite me faxing them three times. This caused the 10 days to apparently start on the 12th of March which has caused some problems for me.This company needs to have a better dispute resolution process. Having to fax documents several times is not acceptable.Desired Settlement: I would of course like to have my account credited immediately and for this company to have a better dispute process.

Business

Response:

On Tuesday, March

11, 2014, KAIKU Customer Service received an email from the Cardholder

inquiring the status of his disputes forms. The Cardholder stated that he had

sent in his dispute forms weeks prior; first on February 13, 2014 and for the

second time on March 3, 2014 and was told by Customer Service that the dispute

forms were not received. KAIKU confirmed that the dispute forms have not been

received and advised the Cardholder to send the dispute forms to the corporate

office email ([redacted]@kaiku.com) so our in-house team could forward them to the external dispute team

to ensure delivery. KAIKU received the dispute forms from the Cardholder on

Wednesday, March 12, 2014, and forwarded them to the dispute team for

investigation and processing. The investigation began on March 11, 2014, the

date the Cardholder notified KAIKU of the disputed transaction. We confirmed

that our external dispute team received the dispute forms from the Cardholder

on March 18, 2014. The Cardholder

received provisional credits for all disputes mentioned on March 25, 2014.

KAIKU fully complies with Regulation E to investigate claims of disputed

transactions and issue provisional credits if warranted within 10 business days

from receiving notice of the perceived error.

Review: I attempted to book a flight through US Airways on 5/15/2015 and the charge was held as pending on my account in the amount of $760.20. When US Airways agreed to release the authorization hold on my account via fax, Kaiku customer service stated that they cannot release the authorization hold using a fax from the merchant even if the merchant includes all pertinent information! I was originally told that my money would be credited to my account in 8 days from the initial charge. Now I'm told that I would have to way an entire 30 days!!! To receive my funds back EVEN if the merchant sends them notice to release the funds. This completely ridiculous and there should not be such a run around for customer to receive their own money back especially if the merchant is confirming that they are releasing the funds. I have been given the run around for days and this should be an easy, simple fix...Desired Settlement: I would like the $760.20 to be credited back to my account with confirmation from the merchant, US Airways who does not have the capablity to do real-time reversal. I do not think it is fair to the customer, for Kaiku to hold my funds for an entire month for no apparent reason. Most banks and prepaid card services allow the merchant to send a fax and the bank/prepaid card releases the funds on the account.

Business

Response:

The Cardholder initially contacted KAIKU Card Services on

Friday, May 15th, 2015 to inquire about an authorization hold that

was pending. The Cardholder was

initially provided a time-frame of 8 calendar days for the funds to be reversed. However, when the Cardholder called back on Tuesday,

May 19th, 2015 to inquire about the hold again, she was advised an

incorrect time frame of 30 days.

The KAIKU Card Services Management Team has been notified to

educate the associate who assisted the Cardholder on May 19th, 2015

and evaluate if further training is needed..

The Cardholders complaint was then received by the KAIKU Corporate

Customer Relations Team on Tuesday, May 19th, 2015. The Cardholder

was then advised that authorization hold time-frames are put in place per network

rules to ensure there is not a shortfall of funds.

To resolve the matter, on Thursday, May 21st,

2015, The KAIKU Corporate Customer Relations Team has released the

authorization hold two days prior to the original reversal date upon receiving

a confirmation letter from the merchant.

Review: I had my tax refund deposit into this bank. They issuseme a card and I had began to use the card and they decideto lock my card and I had a balance of 3,706.62 left on thecard since I can no longer use my card I would like forthem to mail the remaine of my money mail to me so I canpaid my bills,Desired Settlement: I just want my refund mail to me at my address.

Business

Response:

Account monitoring is required by Federal Law and is an important part of protecting our Cardholders and the integrity of our Card program. The complainant exceeded the transaction limits for ATM withdrawals. One of our fraud analysts reviewed the account in its entirety and determined additional account verification was necessary. The complainant was unable to answer the security question on the account nor did he supply the documents that were requested to reinstate the account. The issuing bank determined the account fraudulent and the remainder of the funds will be returned to IRS if the verification documents are not provided. Federal law and our issuing bank restrict us in what we can do about giving the cardholder access to the funds, when there are red flags surrounding the Cardholder and the source of the funds.

Review: I contacted R[redacted] employee #104[redacted]7 on 12/7/2013 to let her know that I had spent $26.90 & had a pending charge on my account for 20% more. She was very unpleasant, condescending, and unwilling to help me. I asked if I cold please send a copy or my receipt or if she could contact the company, she was unwavering. I'm a single mother and this $6 + $2 more and some change, was all I had to get me through the weekend. I have never had this issue before because I usually tip on the card and I tip 20%. The taxi driver needed cash, so I was nice enough to give him $4 cash, thinking I had $8 and some change on my card still. This was not the case. I was crying and upset and this lady kept referring me to my terms and conditions. I realize that may be in there, but I was asking for help and didn't need to be treated so coldly/rudely.Desired Settlement: Please release the $6 ASAP. I have a receipt.

Business

Response:

On December 7, 2013, Ms. [redacted] called Kaiku’s Customer Service Team regarding a transaction she made to Yellow Cab for $26.90. She stated that she had tipped the taxi driver with cash. She wanted the authorization to be added back to her available balance. When a purchase is made at a business that offers services where gratuity is customary, such as taxis,, restaurants, and beauty shops, etc., a pre-determined percentage is added to the authorization while the transaction is pending. In this case, $5.38 or 20% was added to the taxi fare of $26.90. However, once the transaction settles, the exact dollar amount of the sale is posted to the account. On Saturday, December 7, $32.28 was authorized for the pending transaction for Yellow Cab. On Monday, December 9, the actual sale for $26.90 posted to the account adding the $5.38 back to her account. This is common practice in the payments industry and ensures that there is not a shortfall of available funds. Ms. [redacted] was looking for an exception to be made and was upset when she did not get the accommodation. Regardless, KAIKU takes customer service very seriously. We have reviewed the call records for Ms. [redacted]’s call and are addressing the coaching opportunity with the customer service representative directly. Kaiku attempted to rectify the situation within 24 hours of the transaction and Ms. [redacted] calling, which goes beyond standard best practices in the payments industry.

Review: I had a dispute with the company and I called in when I realized my wallet was gone. The Company told me that transactions were made and they were transactions I didnt make.I was waiting on a new card that was supposedly sent out I never got it. Now when I called in the company states my account is suspended for around 2,000$ thats impossible because thats the money I put on there. Its unfair and I deserve my money. This company cant put me in the negative and they havent given me my money.Desired Settlement: Refund of my money and take the negative balance off me because I did nothing wrong

Business

Response:

On August 19th, 2014, the Cardholder contacted KAIKU Card Services via telephone to report eight (8) unauthorized transactions on their KAIKU Card. A replacement Card was ordered on August 19th, 2014 and was received and activated on August 25th, 2014 through the IVR phone system. The KAIKU Dispute Team issued permanent credit for one claim on August 19th, 2014 due to being under floor limits. The Cardholder provided the requested dispute forms on August 22nd, 2014. The KAIKU Dispute Team provided provisional credits to the account for the remaining seven (7) claims September 2nd, 2014 while the investigation was in process. The Cardholder spent down the balance from September 3rd, 2014 through September 6th, 2014 using the replacement Card received.On October 3rd, 2014, the KAIKU Dispute Team denied the claim and reversed the provisional credits issued putting the account balance in the negative. The claim was denied due to the following investigation findings: The Cardholder stated that the Card was lost, however, the PIN was present for all transactions and there were no invalid PIN attempts. The disputed transactions were performed in the Cardholders city and state. Additionally, the Cardholder is linked to another Cardholder with similar dispute patterns.All disputes were handled according to association and consumer protection rules and based on the investigation it has been confirmed that no additional funds are owed to the customer from KAIKU.

Business

Response:

The Cardholder states they never received replacement Card. The Card was sent to the address on file, received and activated using the IVR phone system on August 25th, 2014. The Cardholder claims to have not received credits. Credits were issued on September 2nd, 2014 and spent by point of sale and ATM on September 2nd , 2014 through September 6th , 2014 all in the Cardholder’s city and state. Further, all the claims were handled according to the association and consumer protection rules. The decision was made based on the investigation findings that were identified on the account. If the Cardholder believes she is a victim of identity theft, we would suggest that she reach out to the Federal Trade Commission and the local authorities for assistance with the Identity Theft claim.

Consumer

Response:

I have no problem with making a police report.

I don't agree with the findings.I have already placed alerts with all three credit bureau's. This is such a hassle. I don't want to even deal with the company anymore they just rip people off. I would like this issue resolved as soon as possible so I can be done with it.

Review: On Feb,4,2015 They let a transaction go through in the amount of $99.78 to Oxford University Press that did I did not authorize, which I disputed by filling out all the proper paper work and sending it in, only to find out that they either did not process it or they lost it. Again on April,30,2015 there another unauthorized charge by McAfee in the amount of $86.15 was made to my account that was denied, so I contacted the bank and asked to flag it so it wouldn't happen again they refused so I went to an ATM and pulled out all moneys that was in my account. Come to find out on May,7,2015 they tried to charge my account a second time and it was also denied because I had emptied my account, if I had not done that they would have gotten my money because the banks refusal to flag the charge. Account # 4[redacted]Desired Settlement: I would like them to send me A check for the disputed amount $99.78 and for the account to be closed immediately.

Business

Response:

The Cardholder contacted the KAIKU Card

Services team to report her dispute claim on Wednesday, February 4th,

2015. A replacement Card was ordered and the Cardholder was advised to submit

the completed transaction dispute form, once received. On Tuesday, February 10th,

2015, KAIKU received a transaction dispute form from the Cardholder, however

the form was not legible and a clear copy was requested. A dispute investigation case is created

upon receipt of the completed and signed transaction dispute form. Since a

clear copy of a transaction dispute form was never received as requested, the

case was closed and credit was not issued.The KAIKU Corporate Customer Relations team reached out to the Cardholder via email on Saturday, May 16th,

2015 to assist in resolving the matter. A clear copy of the dispute form was

requested again and the Cardholder was provided with two methods to send her dispute

transaction form (email or fax). KAIKU did not receive a response, so the

KAIKU Corporate Customer Relations team made another attempt to

contact the Cardholder via telephone and resolve the issue on Tuesday, May 19th,

2015. During the phone call the

Cardholder refused to discuss the issue and demanded a refund check for her

disputed claim, requested for her account to be closed, then disconnected the

call.

In order for KAIKU to comply with it’s

issuing bank (The Bancorp Bank) and enterprise policies, a clear copy of a transaction

dispute form must be received in order to process the disputed claim.

Review: I have a kaiku prepaid debit card for a few months. I have had nothing but problems with them. There seems to be only one customer service person who is seldom answering phones. My utilitiy companay rejected this card for my bill payment and kaiku blamed the gas electric company. The a week later I tried to order something online and the company ( huge company ) cancelled my order stating this was an international card from costa rica. Well I ahve been on the phone with kaiku 20 times and of course thay blamed the online company again. However I never got creditied back the money they put on hold. It has been a week and they blame the merchant. the merchant blames them. Never has a debit or credit card been so frustrating to use. I will wait for my card to be credited back if ever and I will never do business with Kaiku again. way too many problemsDesired Settlement: $21.40 my card credited back

Business

Response:

Kaiku Finance, LLC. (KAIKU) attempted to assist Ms. [redacted] throughout the entire time she was a Cardholder. Each and every time Ms. [redacted] contacted KAIKU’s Customer Service she was difficult to deal with; she did not accept the responses that were given despite KAIKU going beyond what is customary and typical to try and help her. KAIKU called the company that she received the declines from and rectified the situation, even though the problem was not on KAIKU’s end. After a Customer Service Representative spoke to the Electric Company on 10/24, we called Ms. [redacted] and requested she resubmit the payment. She did so on 10/25 and the payment went through. KAIKU also called the cosmetic company, Smashbox, when she received the decline and got them to update their payments system to allow her transaction to go through. It is an Industry Standard that purchase authorizations are systemically removed on the eighth day. She attempted to purchase merchandise from Smashbox on 10/31 and the authorization was systemically reversed on 11/8. The third time, Ms. [redacted] attempted to make a charitable donation to Save the Children Foundation. She called KAIKU and said she received a decline. KAIKU could see an authorization attempt but no sale. A Customer Service Representative again called the Company and was told there was no sale. In good faith, we reversed the authorization that was holding $28.00 from her balance.

Ms. [redacted] requested to close her account. She had a choice to spend down her balance with no fee or she could request a check for a $12.50 fee, which is passed on from our issuing bank. She requested not to pay the check fee and again, in an attempt to try to make a difficult situation better, KAIKU waived the fee. The check for $30.08 was sent to Ms. [redacted] on 11/18 as well as an email updating her of the status. KAIKU treated Ms. [redacted] fairly and professionally and even went beyond what many other companies would do to try and resolve a cardholder’s issue. Ms. [redacted]’s statements that there are numerous complaints that we held funds and threatened to sue customers are defamatory, totally unfounded and completely untrue. At this point, the relationship between Ms. [redacted] and KAIKU has ended and we consider the matter closed.

Consumer

Response:

Review: 9795396

I am rejecting this response because:

Regards,

First of all I do not accept their response. They did send me an email which says they sent a check on Nov 15th. Now they say it was sent Nov 18th. as of today nov 22 I have received nothing from them. I make no defamitory statements Just my experience with them. If you go to rip off report online you will see many complaints most with them the same situation as mine. They even threatened to sue a past customer. If you work for the Revdex.com you can see by their response that they take no responsibility for all the inconvieniences they caused me and the expense. I had to call them in california 10 times to get things straightened out. What kind of customer who has funds on her card has to call 3 companies and kaiku has to call them to get things right? I have had many cards in the past and I have two others now. I never had to fight to get my purcheses paid by my debit card company. They blamed everything on other companies systems and then me. It is their business that is at fault. I want my refund and all the long distance calls I made costing $22,87 to them to straighten things out. [redacted]

Review: I needed a debit card contacted Kaiku response was prompt got my card in 5 days I linked by direct deposit to the card and had my account blocked temporarily I have been contacting them for a period of over 24 hours to find out why my card was blocked and I have yet to recieve a response my paycheck was also scheduled to be deposited today and I have a family to take care of I definitley will not reccomend Kaiku serviced do to the lack of quality customer service 2/5Desired Settlement: I would need Kaiku to contact me as I have exhausted all means of contacting them I also would like to know why my account was blocked and have my account unblocked so I can access my funds.

Business

Response:

Kaiku has a safety feature where logging to the Kaiku account

profile online at www.kaiku.com is

restricted from a foreign IP, prior to an initial load to the Card account.

Once the load is made to the account for the first time, Cardholders can then

successfully log in to their Kaiku online profile.

If the Card account is placed on hold due to a log in

attempt from a foreign IP, the Cardholder receives a message online sign on

screen to call the 24/7 Card Services Team (###-###-####) for further

directions to have the account reinstated.

Cardholder H[redacted]’s Kaiku Card was placed on hold on

August 18, due to a log in attempt from Netherland based IP address. Cardholder

called the 24/7 Card Services Team and was advised to email Kaiku Risk Team at [redacted]@kaiku.com. An email was

sent by the Cardholder on August 18 and was responded to on the same day. In

the email, Kaiku requested Cardholder to confirm if he is travelling outside

the country, so Kaiku Team can assist the Cardholder accordingly. No response

was received in regards to Kaiku’s request but another email was sent by the

Cardholder to reinstate the account.

Kaiku responded to the second email on the same day requesting to

confirm what was asked in the previous email.

As of August 19, Kaiku Risk Team reached out to the

Cardholder and inquired if Cardholder is travelling, to which Cardholder

confirmed he is not travelling, but uses different WIFI connections and one of

them may have generated an IP address from Netherland.

At this point, the Card account has been reinstated and the

issue has been resolved with the Cardholder. Cardholder now have full access to

his account.