Kaiku Visa Prepaid Card

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Consumer Complaints and Reviews

Satisfaction Rating

Bancorp provided the card and will not back their product. Applied for a card and was approved. Set up direct deposit with my company I am employed with. I never recv'd the new card and Kaiku reps stated the card was sent back (for no apparent reason). I stopped direct deposit and they shut my access off to my account, granted they now have 2 paychecks of mine and will not allow me to get my money. It has been over 3 weeks of trying to get my money and I keep getting the runaround and still no money. This place is a rip-off and I am contacting the CFPB.

Satisfaction Rating

Great card, AWFUL, AWFUL service. I have had this card for 3 years. They cannot send me a new card w/o a major snafu. They were bought by Bancorp and it took more than 6 weeks for them to add funds to my card during that transition. I had to file a complaint with the CFPB to fix that mess. Latest monstrosity: Mail customer new card for current card that will soon expire. Cancel current card on day you mail new card even though old card doesn't expire for 2 weeks. Mail new card in oversized envelope of the type used for birthday cards. Make literature enclosed brightly colored and flashy like junk mail. Enclosed card looks nothing like old card and lacks raised numbers like all other legit cards.

In other words, make the new card and it's packaging look the same as the thousands of pieces of junk mail the cardholder gets every year. As a result, new card gets shredded with the rest of the junk mail. Decline all charges made by cardholder since the now shredded card was placed in the mail even though old card is valid until the end of the month.

Irate cardholder calls to find out why charges are being declined even though there is plenty of $ in account. Inform cardholder that new card was mailed and then try to blame cardholder for canceling old card by calling CS and inadvertently activating now shredded new card. This ignores the fact that call was made BECAUSE OF the declined charges. Mail cardholder yet another card in the same silly packaging. This time flag the entire account and routing numbers as "inactive". Cardholder calls to activate card. Cardholder informed card is already activated. NOW DECLINE CARDHOLDERS DEPOSITS! Cardholder gets 2 messages from their local, primary bank that 2 deposits to Kaiku card have been refused because account is "closed or sold".

Call CS again and talk to useless woman named Shey who can't give you anymore information about your account that you didn't know already from looking at your account online. Shey tries to pass the buck to online customer service that can only be reached via email. Inform Shey that you demand to speak to supervisor and that you plan to contact the CFPB (again). Supervisor can see declined deposits and informs you that for some reason your account and routing #s are marked "inactive". Supervisor claims she's reactivated your account and routing numbers (ha!).

So we are now coming up on FIVE WEEKS of not being able to use this card simply because of my old card's expiration. I have 2 other bank accounts and 6 other credit cards. Never, ever have I had a single problem with those accounts when the cards expired or the bank was bought by another. If I were crazy enough to rely solely on Kaiku for all my financial needs I'd be homeless and have a credit rating of 350. This card is great when it's working but getting it up and running is a nightmare. It's like a bunch of dope smokers decided to open a financial institution.

Expert Review

Barbara FriedbergPersonal Finance Contributing Editor

Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.    More about Barbara→

Launched in 2012, Kaiku Visa Prepaid Card has become a leader in the consumer finance industry. Founder and CEO Jon Round brings more than 20 years of industry experience in the prepaid and global payments sector, including launching the first prepaid cards in the UK and Canada.

  • Free monthly service charge available: There is no service fee if you meet the $750 minimum deposit amount each month and use in-network Allpoint ATMs.
  • Surcharge-free ATM service: With a network of 55,000 ATMs, users can withdraw cash easily without paying for the transaction.
  • Mobile deposits available: You can use your smartphone to instantly deposit checks using the camera, making banking faster and easier.
  • Online bill pay: Users may make payments to creditors in minutes using an intuitive online payment system.
  • Load funds from other digital sources: Cardholders can use their Amazon or PayPal account to load funds on the Kaiku Visa Prepaid Card quickly and easily.
  • Best for Those without a bank account, chronic over-drafters and those learning money management skills such as young adults and teens.

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Kaiku Visa Prepaid Card Company Profile

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Kaiku Visa Prepaid Card