ComplaintsforMovoCash, Inc

• Initial Complaint

  04/24/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I received a check from movocash, inc in ********* ** to close my account I never opened this account how can I find out if there has been fraud using my name

  Business response

  04/24/2023

  Hi ********,

  This account is currently being managed by **************************************************** is available to answer any questions and provide assistance by phone *************) or email **************************

  Thank you!

  Regards,

  *************************

  Head of Compliance

• Initial Complaint

  04/20/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I recently received notification of closure of an account with ****. I have never had an account with ****. Someone has stolen my identity. It seems this account has been moved to WEBULL Financial. This seems to be the common fault of these types of organizations, that they are hotspots for fraud.

  Business response

  04/21/2023

  Dear ******,
  Thank you for reaching out regarding the unauthorized account created with your information.

  You have a right to obtain documents related to fraudulent transactions resulting from identity theft under the Fair Credit Reporting Act. In order for us to release account statements and transaction history, you will need to email the following documents to ***********************:

     - A note requesting the account information and bank statements
     - Copy of your filed police report
     - FTC Identity Theft Affidavit
     - Proof of identification with the following photos:
          - Front of Government-Issued **
          - Back of Government-Issued **
          - Selfie holding your **

  Coastal ************** is available to answer any questions by phone at ************** or by email at ***********************. 
  Also, checking your credit report regularly can help you identify any additional unauthorized accounts opened in your name.
  Please take the following steps as soon as possible:

  1. Notify Affected Creditors and/or Banks
  If a bank account or existing credit line has been affected, shutting it down should be a priority. In general, most credit cards have zero-liability policies, but the Fair Credit Billing Act specifies that your maximum liability for unauthorized charges is $50.

  2. File A Report At Identitytheft.gov
  This resource will help you to report Identity Theft directly to the ************************ and create a recovery plan.
  

  3. Put A Fraud Alert On Your Credit Report
  Contact any one of the three credit reporting agencies (Experian, Equifax, TransUnion) and request a fraud alert. The fraud alert will last 90 days. After youve filed a police report or filed a report with the ************************, you can put an extended fraud alert on your credit. The alert stays in effect for seven years.
  

  4. Check Your Credit Reports
  After installing a fraud alert in your credit file, youll automatically receive a free credit report from each of the three agencies, and you will be opted out of preapproved credit card and insurance offers. After you receive your reports, make note of the unique identifying number assigned to your account. This will be valuable in all your communications with the agencies.
  
  Check your reports for signs of fraud New accounts you didnt open, hard inquiries you dont recognize, payment history you cant account for, and personal information unfamiliar to you. Pull each of your credit reports at least once over the course of the next year to check for fraudulent activity. Use an identity theft report to have any fraudulent information removed from your reports.
  

  5. Consider Putting a Credit Freeze on Your Reports
  A credit freeze prevents credit reporting agencies from releasing your credit report to new creditors. Youll pay as much as $10 to place a freeze at each bureau depending on the state you live in; its usually free if you can prove youre a victim of ** theft.
  

  6. File a Police Report
  Notify the police in your city, as well as the city in which the crime occurred.
  Make sure the police report lists all fraudulent accounts. Give as much documented information as possible and give them a copy of the ** theft report from the FTC.
  If the police cannot give you a copy of their report, request that they sign your FTC complaint form and provide the police report number in the Law Enforcement Report section. Keep the phone number of your police investigator for future reference.
  

  7. Send Creditors a Copy of Your ** Theft Report
  Notify creditors that you have been a victim of fraud. Include a copy of your ** theft report.
  Ask each affected creditor to provide you and your investigating law enforcement agency with copies of any documents showing fraudulent transactions.
  

  8. Contact Credit Reporting Agencies
  By sending a copy of your ** theft report to the consumer reporting agencies, fraudulent accounts should be blocked from appearing on your credit report.
  

  9. Change all account passwords
  Avoid using obvious passwords such as the last four digits of your Social Security number or your birth date.
  

  10. Contact the Social Security fraud hotline
  Notify the Office of the Inspector General if your Social Security number has been fraudulently used. Ask for a copy of your Personal Earnings and Benefits Statement and check for accuracy.
  

  Best Regards,

  
  *************************
  Head of Compliance
  

  
  

• Initial Complaint

  04/20/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have received a refund from Movocash, Inc in the amount of ****. The memo indicates that this is for Movo Account Closure. This notice leads me to believe that Movocash, Inc has been a contributor to identity theft, is supporting identity thieves through *** review, and has insufficient measures to prevent malicious actors from opening accounts in others peoples names. Movocash, Inc should be required to set more stringent standards to prevent fraudulent accounts from being opened.

  Business response

  04/25/2023

  Dear ******************, 

  Thank you for reaching out regarding the $.02 refund check you received. You have a right to obtain documents related to fraudulent transactions resulting from identity theft under the Fair Credit Reporting Act. In order for you to obtain account statements and transaction history, you will need to email the following documents to ***********************:

    - A note requesting the account information and bank statements
    - Copy of your filed police report
    - FTC Identity Theft Affidavit
    - Proof of identification with the following photos:
          - Front of Government-Issued **
          - Back of Government-Issued **
          - Selfie holding your **

  Coastal ************** is available to answer any questions by phone at ************** or by email at ***********************. 

  Also, checking your credit report regularly can help you identify any additional unauthorized accounts opened in your name.

  Please take the following steps as soon as possible:

  1. Notify Affected Creditors and/or Banks
  If a bank account or existing credit line has been affected, shutting it down should be a priority. In general, most credit cards have zero-liability policies, but the Fair Credit Billing Act specifies that your maximum liability for unauthorized charges is $50.
  

  2. File A Report At Identitytheft.gov
  This resource will help you to report Identity Theft directly to the ************************ and create a recovery plan.
  

  3. Put A Fraud Alert On Your Credit Report
  Contact any one of the three credit reporting agencies (Experian, Equifax, TransUnion) and request a fraud alert. The fraud alert will last 90 days. After youve filed a police report or filed a report with the ************************, you can put an extended fraud alert on your credit. The alert stays in effect for seven years.
  

  4. Check Your Credit Reports
  After installing a fraud alert in your credit file, youll automatically receive a free credit report from each of the three agencies, and you will be opted out of preapproved credit card and insurance offers. After you receive your reports, make note of the unique identifying number assigned to your account. This will be valuable in all your communications with the agencies.
  Check your reports for signs of fraud New accounts you didnt open, hard inquiries you dont recognize, payment history you cant account for, and personal information unfamiliar to you. Pull each of your credit reports at least once over the course of the next year to check for fraudulent activity. Use an identity theft report to have any fraudulent information removed from your reports.
  

  5. Consider Putting a Credit Freeze on Your Reports
  A credit freeze prevents credit reporting agencies from releasing your credit report to new creditors. Youll pay as much as $10 to place a freeze at each bureau depending on the state you live in; its usually free if you can prove youre a victim of ** theft.
  

  6. File a Police Report
  Notify the police in your city, as well as the city in which the crime occurred.
  Make sure the police report lists all fraudulent accounts. Give as much documented information as possible and give them a copy of the ** theft report from the FTC.
  If the police cannot give you a copy of their report, request that they sign your FTC complaint form and provide the police report number in the Law Enforcement Report section. Keep the phone number of your police investigator for future reference.
  

  7. Send Creditors a Copy of Your ** Theft Report
  Notify creditors that you have been a victim of fraud. Include a copy of your ** theft report.
  Ask each affected creditor to provide you and your investigating law enforcement agency with copies of any documents showing fraudulent transactions.
  

  8. Contact Credit Reporting Agencies
  By sending a copy of your ** theft report to the consumer reporting agencies, fraudulent accounts should be blocked from appearing on your credit report.
  

  9. Change all account passwords
  Avoid using obvious passwords such as the last four digits of your Social Security number or your birth date.
  

  10. Contact the Social Security fraud hotline
  Notify the Office of the Inspector General if your Social Security number has been fraudulently used. Ask for a copy of your Personal Earnings and Benefits Statement and check for accuracy.
  

  Best Regards,
  MOVOCash Compliance
  

  
  

  Customer response

  04/25/2023

   
  Complaint: 19961125
  
  I am rejecting this response because: The onus in now on me to provide the bank with proof of my identity - including pictures of myself, pictures of my drivers license or similar and proof that I filed a police report. This is ALL a result of their failure to ask for comparable documentation when the account was opened. Again, the underlying problem is the ease by which they allow accounts to be opened. I don't expect them to be of any additional assistance but I reject their proposed solution. And asking them to safeguard pictures of myself, my license or passport et al is ridiculous in the face of the fact that they allowed this crime to be perpetrated owing to *** oversight. I don't trust their ability to safeguard my information. 
  
  Sincerely,
  
  ***************************

  Business response

  04/26/2023

  Good Morning,

  MOVOCash received communication from the Better Business Bureau indicating the consumer received a refund check in the amount of $.02 following the closure of a MOVOCash account in his name. The consumers communication indicated he may be a victim of identity theft.

  MOVOCash is sorry the consumer's identity was compromised/stolen outside of MOVOCash and his personal information was then used to fraudulently open an unauthorized account. MOVOCash takes allegations of fraud very seriously and we have fraud mitigation protocols in place.  

  MOVOCashs response provided the consumer with guidance and suggested recommendations for victims of identity theft. This guidance is derived from the Fair Credit Reporting Act (FCRA).

  Once again, we are sorry this consumer's identity and personal information were compromised and used to fraudulently open an account at MovoCash.
  

  Respectfully,
  MOVOCash Compliance
  
  
  

• Initial Complaint

  03/24/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I used to have a Movo account. I understand my account was closed and I have been trying to get in touch with them to send the remaining funds in the form of a check. My emails go unanswered. When I call, they tell me they have no record and to email support.

  Business response

  03/30/2023

  Per consumers BBB complaint, the consumer advised he previously had a Movo account that was closed and he wanted to request any remaining funds in the account be sent to him. An extensive review of our databases and records indicated the consumer previously had a MovoCash account under a program that was discontinued. All program management responsibilities, systems, and account records were turned over to **************************** on 09/27/2021. 

  Per the shutdown agreement between MovoCash and ****************************, MovoCash no longer has access to any account-related information or systems required to resolve customer-related inquiries.  **************************** assumed all customer support and management responsibilities.  All funds on accounts turned over to **************************** remained at ****************************.

  During the shutdown process, all accounts in good standing were issued checks and closed. All other accounts may have been frozen due to unusual transaction activity with unemployment benefits and the Paycheck Protection Program (PPP) fraud related to the ******19 pandemic and were being reviewed. The review and processing of those accounts were the responsibility of ****************************.

  **************************** provided MovoCash with a referral email and phone number. If the consumer requires additional assistance, he may email his inquiry to **************************** at: *************************** Or, he may call **************************** toll-free at ************ between the hours of 8:30 AM 6:00 PM Eastern Time.

  Respectfully,

   MovoCash

  
  

  Customer response

  03/30/2023

   
  Complaint: 19638730
  
  I am rejecting this response because:

  my account was in good standing and had a check issued. I believe I misplaced it. Feel free to confirm the check has not been cashed and issue a replacement.

  
  Sincerely,
  
  ***********************

  Business response

  03/31/2023

  Thank you for the response. While we appreciate the consumers position, as we stated previously in our response:

  Per the shutdown agreement between MovoCash and ***************************** MovoCash no longer has access to any account-related information or systems required to resolve customer-related inquiries.  **************************** assumed all customer support and management responsibilities.  All funds on accounts turned over to **************************** remained at ****************************.

  Checks issued by **************************** pursuant to the shutdown agreement were issued on 09/27/2021. We encourage the consumer to contact **************************** via email at  ************************** or telephonically at ************, between the hours of 8:30 AM 6:00 PM Eastern Time.
  

  Respectfully,
  MovoCash
  

  
  

• Initial Complaint

  03/17/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Someone used MOVOs platform to steal $1008.52 from me and I have filed a complaint with the **** I would appreciate MOVOs cooperation in determining who did this. Others with similar issues may file a complaint with the *** at ************ or identitytheft.gov . Someone posed as an employee and sent a change of the employee's direct deposit information using our company's internal form. We were able to track the routing number to ********************** who said they sponsor MOVO. MOVO confirmed that the routing number belongs to them.I contacted customer support at the number provided on their website - **************. They advised me to send an email to *****************. I received an email from MOVO a day later advising me to contact customer support at the same number as above. When I called customer support, they advised me to send an email to the same email address as above.

  Business response

  03/23/2023

  Upon receiving communication from BBB that a non-customer had fraud perpetrated against him after someone posed as an employee of his company and sent a change of the employees direct deposit information from her current bank to a MovoCash account using the internal forms of complainants company, MovoCash conducted a thorough investigation of consumers complaint. 

  MovoCash determined the complainant also reported this fraud directly to MovoCash and remedial actions to block the account in question were taken in accordance with our policies and procedures. Since neither the complainant nor his employee were MovoCash customers, MovoCash Customer Support was unable to provide him with specific details regarding the MovoCash account.

  If the complainant or the employee files a police report and an investigation is conducted, we will expeditiously respond to any subpoena or search warrant that is served.
  MovoCash takes allegations of fraud very seriously and we have protocols in place to respond promptly to fraud allegations.

  In this instance, MovoCash acted in an expeditious manner in an attempt to try and recover any funds that *** have been remaining in the account at the time the fraud was perpetrated, as well as prevent additional fraud from being perpetrated. We encourage the complainant to report this fraud to the Internet ********************** (ic3.gov).  We would also encourage the complainant to contact his companys bank, which can then contact ********************** to determine if any funds *** be available for possible recovery.
  

  MovoCash is deeply sorry the complainant and his employee had fraud perpetrated against them outside of MovoCash.  MovoCash takes allegations of fraud very seriously and we work with financial institutions, government agencies, law enforcement and other fraud prevention partners to fight against financial crime. 
  

  Respectfully,

  MovoCash

  
  

  Customer response

  03/23/2023

   
  Complaint: 19614927
  
  I am rejecting this response because:  MOVO did not steal money directly from my company, but they provide a platform where anonymous people can set up bank accounts with the intention of committing fraud.  Criminals are able to pay MOVO for the opportunity to commit fraud and MOVO's fee structure probably pays MOVO a percentage of the fraudulent transaction. 

  MOVO has not been helpful when I have tried to resolve this directly with them.   The offshore customer service representatives were uninterested and dismissive,  **** has shown no concern for my loss.
  
  Sincerely,
  
  *******************

  Customer response

  03/23/2023

   
  Complaint: 19614927
  
  I am rejecting this response because:  MOVO did not steal money directly from my company, but they provide a platform where anonymous people can set up bank accounts with the intention of committing fraud.  Criminals are able to pay MOVO for the opportunity to commit fraud and MOVO's fee structure probably pays MOVO a percentage of the fraudulent transaction. 

  MOVO has not been helpful when I have tried to resolve this directly with them.   The offshore customer service representatives were uninterested and dismissive,  **** has shown no concern for my loss.
  
  Sincerely,
  
  *******************

  Customer response

  03/23/2023

   
  Complaint: 19614927
  
  I am rejecting this response because:  MOVO did not steal money directly from my company, but they provide a platform where anonymous people can set up bank accounts with the intention of committing fraud.  Criminals are able to pay MOVO for the opportunity to commit fraud and MOVO's fee structure probably pays MOVO a percentage of the fraudulent transaction. 

  MOVO has not been helpful when I have tried to resolve this directly with them.   The offshore customer service representatives were uninterested and dismissive,  **** has shown no concern for my loss.
  
  Sincerely,
  
  *******************

  Customer response

  03/23/2023

   
  Complaint: 19614927
  
  I am rejecting this response because:  MOVO did not steal money directly from my company, but they provide a platform where anonymous people can set up bank accounts with the intention of committing fraud.  Criminals are able to pay MOVO for the opportunity to commit fraud and MOVO's fee structure probably pays MOVO a percentage of the fraudulent transaction. 

  MOVO has not been helpful when I have tried to resolve this directly with them.   The offshore customer service representatives were uninterested and dismissive,  **** has shown no concern for my loss.
  
  Sincerely,
  
  *******************

  Customer response

  03/23/2023

   
  Complaint: 19614927
  
  I am rejecting this response because:  MOVO did not steal money directly from my company, but they provide a platform where anonymous people can set up bank accounts with the intention of committing fraud.  Criminals are able to pay MOVO for the opportunity to commit fraud and MOVO's fee structure probably pays MOVO a percentage of the fraudulent transaction. 

  MOVO has not been helpful when I have tried to resolve this directly with them.   The offshore customer service representatives were uninterested and dismissive,  **** has shown no concern for my loss.
  
  Sincerely,
  
  *******************

  Customer response

  03/23/2023

   
  Complaint: 19614927
  
  I am rejecting this response because:  MOVO did not steal money directly from my company, but they provide a platform where anonymous people can set up bank accounts with the intention of committing fraud.  Criminals are able to pay MOVO for the opportunity to commit fraud and MOVO's fee structure probably pays MOVO a percentage of the fraudulent transaction. 

  MOVO has not been helpful when I have tried to resolve this directly with them.   The offshore customer service representatives were uninterested and dismissive,  **** has shown no concern for my loss.
  
  Sincerely,
  
  *******************

  Business response

  03/31/2023

  Thank you for the response. We appreciate the consumers position and are sorry they and their employee sustained a loss that was perpetrated against them outside of MovoCash.

  MovoCash is a fintech platform and as such, fully abides by all applicable government rules and banking rules and regulations for CIP/KYC, Anti-Money Laundering, and Terrorist Financing. MovoCash will assist law enforcement by providing any requested information to catch bad actors undermining the financial system. At no time has MovoCash ever knowingly received any sort of payment or profit from a fraudulent transaction. 

  We are truly sorry the consumer and their employee sustained a loss and we appreciate the opportunity to respond to their complaint.
  

  Respectfully,
  MovoCash
  

  
  

• Initial Complaint

  01/29/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have been getting emails about an account that was opened in September 2022 through Movo. I did not open this account nor respond to any emails from this account. Someone has stolen my identity and opened this account with Movo through fraudulent means. I want this account closed immediately and have my personal information purged from the Movo system. This has caused me much stress and can't believe how many innocent people have been taken advantage of this lack of security of this business Movo.

  Business response

  02/10/2023

  Good Morning,

  Upon MovoCash receiving communication from BBB advising that the consumer never opened a MovoCash account, MovoCash conducted a thorough review of the account and immediately closed the fraudulently opened account that was in her name, in accordance with MovoCashs compliance regulations, policies and procedures. 

  MovoCash has provided consumer, via email, with some suggested recommendations for victims of identity theft. 

  MovoCash is deeply sorry the consumer's identity was compromised/stolen outside of MovoCash and her personal information was then used to fraudulently open an unauthorized MovoCash account.

  MovoCash takes allegations of fraud very seriously and we have fraud mitigation protocols in place which enabled us to expeditiously close the unauthorized account. MovoCash works closely with financial institutions, government agencies, law enforcement and fraud prevention partners to fight against financial crime.

  Once again, we are sorry this consumers identity and personal information have been compromised and used to fraudulently open an account at MovoCash.

  Respectfully,

  MovoCash
  
  

  
  

• Initial Complaint

  12/28/2022

  Complaint Type:

  Delivery Issues

  Status:

  Answered

  More info

  Have asked this bank for MONTHS to provide all my old account statements and keep getting the run around. They claim they don't have those statements due to being owned or bought out by another bank. ****** shows it is illegal for a bank not to retain statement records for a 5 year period AFTER the accounts were closed. I want all statements from all my Movo accounts emailed to me immediately!

  Business response

  01/20/2023

  Upon receiving BBB notification that the consumer had requested prior bank statements, an extensive review of our databases and records indicated the consumer previously had a MovoCash account under a program that was discontinued; therefore, we do not have the prior bank statements that consumer has requested as their MovoCash account was opened prior to 09/27/2021. All program management responsibilities, systems, and account records were turned over to **************************** on 09/27/2021.
  
  Per the shutdown agreement with ****************************, MovoCash no longer has access to any account-related information or systems required to resolve customer-related inquiries. **************************** assumed all customer support and management responsibilities.
  
  **************************** provided MovoCash with a referral email and phone number.
  
  If a consumer requires additional assistance, consumer may email their inquiry to **************************** at: **************************
  
  Or, consumer may call **************************** toll-free at ************ between the hours of 8:30 AM - 6:00 PM Eastern Time.
  
  Respectfully,
  MovoCash
  

• Initial Complaint

  12/01/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  I continue to receive email that I opened an account, I moved money, my statement is ready, to my email account from this business. I have never heard about this business until then, nor I opened an account with this business. Someone used my credentials to fraudulently open the account, I request the business to correct this fraud, close account and delete all my information associated with my identity immediately, and never open any new account under my credentials.

  Business response

  12/07/2022

  Business Response /* (1000, 5, 2022/12/05) */ We were first notified from ****** through this *** Complaint. We located the account and send ****** a follow up email on the ways to keep your information safe. We are deeply sorry that their identity was compromised/stolen outside of MovoCash and then personal information was used to fraudulently open an unauthorized Movo account. We have fraud mitigation protocols in place that allowed us to close the account within 24 hours of being notified. Movo works closely with financial institutions, government agencies, local law enforcement and fraud prevention partners to fight against financial crime. Once again we are sorry this consumer was a victim of identity theft and that their personal information was used to open an account at Movo. Consumer Response /* (2000, 7, 2022/12/05) */ (The consumer indicated he/she ACCEPTED the response from the business.) I appreciate the business responding and deleting the fraudulent account.

• Initial Complaint

  11/08/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  Keep receiving emails stating, "This is to inform you that the following transaction has been credited on your card number *****." I do not have an account with this business, have never had an account with this business and never plan on having an account with this business. Suspect this is a phishing expedition. If there is truly an account in my name, it is not me or my email address.

  Business response

  11/23/2022

  Business Response /* (1000, 5, 2022/11/14) */ After further research into this matter. We believe that the ********* is a victim of Identity theft. Please have her contact our support staff at ************* One preventative measure in helping fight outside Identity theft is email verification. We believe in this case it worked in notifying the correct owner in a timely manner. We will work closely with helping ********* report it appropriately. Consumer Response /* (2000, 7, 2022/11/19) */ (The consumer indicated he/she ACCEPTED the response from the business.) I assume Movo is closing that account and I will no longer be receiving emails from them regarding an account that I never opened?

• Initial Complaint

  11/01/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  A new account was opened in my name without my knowledge. You can't reach them by phone to cancel the account. This looks like a common occurrence with this bank.

  Business response

  11/18/2022

  Business Response /* (1000, 5, 2022/11/04) */ We were first notified from ****** through this BBB Complaint. We located the account and send ****** a follow up email on the ways to keep your information safe. We are deeply sorry that their identity was compromised/stolen outside of MovoCash and then personal information was used to fraudulently open an unauthorized Movo account. We have fraud mitigation protocols in place that allowed us to close the account within 24 hours after opening. Movo works closely with financial institutions, government agencies, local law enforcement and fraud prevention partners to fight against financial crime. Once again we are sorry this consumer was a victim of identity theft and that their personal information was used to open an account at Movo.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩