have $500 Vanilla black debit card, load $499.5 to BB at walmart, $0.5 is the room for the transaction fee,

is it a data point, or proposal?
if former, was the card registered?

Take a hint, Almost 2 weeks of struggle and cannot login. Filed complaint with FDIC, I have doubts if I will see my money! read the stories at 'Ripoff Report'

File a complaint with the CFPB. It will be handled quicker than an FDIC complaint and the FDIC may not have the proper jurisdiction to handle it, whereas the CFPB has jurisdiction over all consumer financial products and will forward your complaint to the company within one or two business days or so. They will not want to mess with the CFPB and from my experience a CFPB complaint should stop them stonewalling you in a hurry.

No matter what, you will definitely get your money back eventually. You do not have to provide your Social Security card to do so.

I just browsed the CFPB complaint form. Was your experience about MVD? What category MVD falls in the list of choices on the form and then after selecting how do you describe from the choices on the form. Seems they have not categorized yet these kind of products!

I have yet to be shut down by MVD, but I would suggest saying it is a bank account. That seems more accurate than any of the other choices, since after all MVD is an FDIC insured deposit account. My experience with the CFPB complaint working well was with a real bank account where they closed my account and were going to hold my funds for 10 business days, then mail a cashiers check. I had no success with multiple phone calls, where their LP department just rudely told me they couldn't do anything and treated me like a fraudster, or a visit to a branch where I complained in a loud voice so the other customers could hear and just ended up being told by the manager that it was a decision made by corporate and there was nothing the branch could do. After the CFPB complaint, I got a call from them the next business day saying they were magically now able to verify my deposits were legitimate and I could withdraw my funds in cash at a branch. I have now taken my deposit account business to a credit union which has no problems with my activities. My guess is that these type of prepaid card companies whose business model is based on exploiting the underbanked would fear the CFPB more than a traditional bank offering checking accounts, and the CFPB would be eager to go after them for holding onto the funds of someone who is presumably strapped for cash (i.e. the type of person these cards are marketed to).

Edit: Also filed an FDIC complaint at the same time as the CFPB complaint in this case, and I didn't hear back from the FDIC until a few weeks later, after I'd already gotten my money back.

Very good info (not that I need it right yet). Thank you for sharing Lemma.^

What is the limit for MOs using MVD at Walmart. I have almost $6k in two MVDs. want to cash out sooner than later.

I think my cards are in restrictive status as of now. Loaded 4k (MVD-1) and 2k (MVD-2) in last 2 days and now both are in inaccessible online or through automated phone checking. On line with CSR to see what's going on. Used first card earlier this month loading and immediate unloading. Never used second card until yesterday.

Now they are asking me to send receipts along with a copy of DL. Is that normal? How long does this process take to clear out? I have receipts but not sure which VR card is loaded onto each MVD.

You should be able to do the full $6k in one visit to Walmart. Some stores might ask for your info for a Monetary Instrument Log if you buy more than 3k, but they are only supposed to do that for cash purchases, not debit. I have often bought more than 3k with no questions asked, and once when the cashier tried to ask for my SSN, the manager overruled her and said I didn't need to provide it since I was paying with debit. But YMMV, every Walmart is different. Either way there is no rule preventing you from purchasing 6k in MO in a single visit.

If you don't want to provide that info you can just tell them you tossed the VR/receipts after loading. The worst they can do is close your account, they will have to give you your money back one way or the other. Under the Patriot Act, they are supposed to verify your identity when you open your account, not when you break some unwritten rule. See my advice upthread about the CFPB if you have trouble getting your money.

[QUOTE=Lemma;21800215]You should be able to do the full $6k in one visit to Walmart. Some stores might ask for your info for a Monetary Instrument Log if you buy more than 3k, but they are only supposed to do that for cash purchases, not debit. I have often bought more than 3k with no questions asked, and once when the cashier tried to ask for my SSN, the manager overruled her and said I didn't need to provide it since I was paying with debit. But YMMV, every Walmart is different. Either way there is no rule preventing you from purchasing 6k in MO in a single visit.

[QUOTE]

Ive had several Wallys tell me $2k per day is the max at all the stores combined. AFAIK theres no way for them to track that but they can set $2k as their max. Sort of like how each CV does what it wants to. Corp seems to be the max limts but each store is allowed to set their own max to < the corp max

Thanks. I wanted to play nice atleast until I unload all my money. I went ahead and provided ID, scans of MVD and VRs with receipts right away and confirmed over the phone that they received. I was told to wait 24-48 hrs to clear the issue. Based on last two pages (comments from Prasha...) I thought I will play nice. I will take it slow in future and use these MVDs only if absolutely necessary. But thanks, it is relieving to hear that they are obligated to pay me back some way or other.

They don't know how many MO you have purchased at another WM that day. Their reports go in a binder in the cash office that they hold onto for 5 years, but each Walmart only has access to its own binder. But yeah, WM is always YMMV. Sometimes individual stores implement policies that are more restrictive than corporate for whatever reason. And stores are free to set their own limits. I once encountered a WM while traveling out of state that wouldn't sell MO over $500 even at the counter. My usual Walmart obeys corporate policy and federal law by allowing me to purchase large quantities of MO with debit cards and not provide any info (since the MIL only applies to purchases >$3k with cash).

CFPB forwarded my complaint to fdic. wait and see?