About Amscot - The Money Superstore
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I hate Amscot. It’s the fact that I went to borrow money and couldn’t pay it back on time since I’ve changed jobs so when I went into the store they said, "Oh you can just pay us 5 dollars." So I told them to take it out of my pay that Friday and they're so convinced that I have to pay it right then and there or there’s going to be a problem so I told them I’m not paying it right here so I left to find out they didn’t take it out that Friday so now my account is in the negative because they decided to take all the money that I don’t have in my account out. They can’t do that. What they need to do is run me back my money because I will not put any money in my account carelessly. It’s aggravating. I definitely don’t recommend Amscot. They suck at everything and I will not be using them again.
They ask very intrusive questions when buying a $1000 money order. First you have to show a Drivers license They asked, "Are you working? If not, Where did you get the funds to buy this money order? What are you using the money order for?" NONE OF YOUR BUSINESS! The clerk was very rude. I called HQ about these policies and he was evasive just kept repeating, "We are a financial institution." I told him "No financial institution(s) has ever asked me such intrusive questions when cashing a check, making a deposit or getting a cashiers check. Go to 7 Eleven for your money orders. They don't even ask for ID and you can get a hotdog while you are there instead of a super small Tootsie Roll.
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I took out an installment loan, though I was qualified for the $1000 they gave me nowhere near that. First they had me make a check to put on my account in case I don't pay. Fine ...So my first payment comes around and they make me physically have to go to the damn place and make my payment that way and said it had to be in cash. They said it would post to my account right away and deduct off the payment I made.
Well now 2 weeks rolls by and I'm due for another payment so I was going to make my way into there after withdrawal of the funds from my bank only to find that my account is empty because they took the total amount of the loan and the first payment I made didn't come off of anything. It doesn't even show up as paid ...This is bull and something needs to be done with this company ...Their employees are stealing from people by accepting payments then pocketing it instead of posting it to the account!! This is not over ..Not by a long shot. Unbelievable! Oh and customer service bahahaha what a joke!
I only got like $100 I probably lost. But I heard the female customer service telling me, "You are not the only one," which tells me this happens a lot. They hold the money but they can't reverse it for some reason. Well, I am sure they can hold, decline, reverse any transaction they want, WHEN IS THEIR MONEY THEY'RE LOSING. Otherwise, they'll give you their good ol' runaround, wild turkey chase, explanations of why they can't simply return your money to your account, knowing your money is still on "pending," process and knowing it's been illegally charged. The customer service are there to tell you, basically, that you are screwed, and to call this number, and to fill these form, and on and on.
In conclusion. I strongly believe, based on the facts, that this is a clear case of someone working inside passing or selling information about certain specific customers. I believe the information is passed within hours of your deposit. In order to charge like I was charge you need a zipcode from that account. If someone try to charge my card in Mitford, CT they will have to have all the info, including 3 digit on the back of the card, zip code. This info is hard to get from CT unless someone passed that info to you already. Conclusion, I will strongly advise against doing or depositing large amounts of money to this company. It clearly shows it has gotten corrupted from within and no one is doing a God damn thing about. Not to worry, karma is working its way to you...
WARNING: Do not allow Amscot to convince you to switch from the Amscot debit card to the new Azulos prepaid card. Azulos is NETSPEND. NETSPEND is awful. After you switch to Azulos (NetSpend), you will no longer have access to your money. You can ADD money to the card, but you cannot go to Amscot and withdraw the funds. THEN after you activate the Azulos card they will place a block and restriction on your card and tell you to call an 800 number, email them a copy of your social security card, driver's license and Utility bill. They will then **review** the documents you sent and "get back to you in 6 hours." Afterwards if they decide they accept your documents they will let you know in 3 days whether you will have access to YOUR funds.
AMSCOT must be getting kick-backs for each referral because I cannot fathom why they would even encourage you to switch from their AMSCOT card to Azulos. **** PLEASE BE CAREFUL **** DON'T FALL INTO THIS TRAP. You will lose your Christmas money. I'd hate to see what just happened to us, happen to another family. And AMSCOT should be ashamed of themselves!!
I use my Amscot card to pay bills, since amscot is far from my house I load my card in Publix through the Western union, they have a limit of how much to deposit a week and on top of that they denied payments first because I was not loading the card in amscot, and now I called for my balance since it didn't do it automatically and they started asking me questions like why do I deposit he money in the card and take it out right away, well first of all is my money and I have to pay to load the card and also I have to pay to get the money out, so now they are investigating what I do with 20 or 30 dollars that are mine, I had a believe that this was a free country but is getting worse and worse, I feel discriminated,
I understand if it was thousands of dollars but I live sell to sell and I have not deposited more than 300 in my card, never even reached 1000.00. In other words petty money. I am closing my account and letting everybody know that they think they are the IRS for less than 100. So be careful. I guess you have to ask them permission and explain what you are going to do with the money you worked for.
My husband and I took out an installment loan from Amscot. The first payment was made in person with cash. The following day the amount due cleared our checking account, therefore a double payment was made. Since they received the payment twice we expected our loan agreement to end one pay period early, however it didn't. When we called they said there wasn't any record of a cash payment and there wasn't anything they could do. They were not helpful. When I explained that I suspected something fishy going on with one of their employees then, they said they would "look into it." I would recommend paying with a check or keeping receipts if paid in cash.
I deposited 25k on a card at the advice of employees of Amscot in 2018. The card expires in 21 and yet my card is closed as inactive. After seeing strange activity I walk in amscot with card and requested a statement and informed employees of my suspicion. All that the employee said was you are broke. Gave me a statement that indicated a bal of 3k. My card inactive. No help or concern for me and my money. I wouldn't recommend amscot to the devil.
I have been sending money and lot of them to Ivory Coast since I had this application. I was happy of the user friendly side of this app till I discovered this. I lose a lot of money sending money via this app than that just going to send it through the agency with AMSCOT. Let me explain. Recently I was going to send $1000 US to Ivory Coast currency CFA. So using the this application, for a $1000, the pay out in CFA is 506,207 CFA with $7 transfer fee. But at AMSCOT, for the same amount $1000, the pay out 546,189, which is a difference of 46,000 CFA = $90. That is a HUGE difference. I am uninstalling this app immediately because I am losing money, a lot of money. And have screenshots to prove it. Look at uploaded picture and receipts.
This company operates in an incredibly outdated fashion. I had gotten a cash advance several months ago through one of their competitors (Cash Advance America) and it was so easy! I provided my bank info and the loan was deposited directly into my account the next afternoon. Then on my payday, the amount due was automatically withdrawn. I expected the same from Amscot. I couldn't have been more wrong. I went to an Amscot store and they required a physical check. So I drove home, and returned with my check. I had to write a check out and post date it, which was archaic, but acceptable. I postdated it for my pay date. Then they gave me cash with no option of direct deposit. So I had to drive to the bank to deposit it, which was a bit of a hassle, but doable.
Then payday came and I started getting calls from Amscot. The messages had no information whatsoever, just people saying "this is Amscot, if you have questions about your loan, please call." I had no questions as far as I was concerned. I got the cash, they had my signed and dated check. I thought the deal was done. But when the second call came with the same message I became curious. I called and the person I talked to asked when I was coming in to repay the loan!!
I told her I had postdated a check with the understanding that it would be deposited. It was Sunday, so she said the check would be deposited on Monday, which wasn't a problem since that is their normal timeline if they had known on Friday to go ahead and deposit the check. I told her that I discussed doing exactly that with the person that I talked to when I took the loan out, so I was surprised that it wasn't already done. She thanked me for clearing it up and I show that the check cleared on Tuesday.
Fast forward two weeks later. I was looking for a little extra money for Black Friday shopping, but didn't want to go through Amscot again because it was a hassle. But my application at the other company was declined because I supposedly had an outstanding loan with Amscot. I drove there and was told the loan was closed and I needed to contact someone to get more information. They needed the transaction number of my last loan. The person at the counter not only couldn't provide my own transaction number (?) but then asked me for a copy of my bank statement showing the loan is paid. Sorry, I am NOT emailing ANYBODY a copy of my full bank statement! Especially somebody who can't provide their customers with a receipt!!!!!
Then I was told the problem is that I "let" my check go to the bank. WHAT?! I thought that was the point, but evidently, I was supposed to go Amscot with cash and repay the loan. Otherwise loans are held open for 15 days. First, NOBODY - and I mean N-O-B-O-D-Y said a word about this. Second, two weeks??? For a local check to clear? And third, according to the guy at the counter, today is day 14. Why did he need to see my bank statement? What exactly was he planning on doing with it that would change things after 6:30pm on day 14??? That's when the entire process moved from ridiculous to shifty.
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