Ribbon (similar to Venmo)
#64
Join Date: Apr 2014
Location: Miami
Posts: 138
I'm waiting for a withdraw on a test $50 send. The send was initiated Tues . Posted as signature transaction on debt card on Thursday 5/15 with a point of sale date of 5/14. Says 3 to 5 business days on withdraw so will wait a few more days.
#65
Join Date: Jul 2006
Location: Upper Sternistan
Posts: 9,958
#66
Join Date: May 2014
Posts: 186
Just joined up to warn everyone to not use this service. Ribbon is some combination of general incompetence and a scam. They will hold on to your money for weeks without any action, vaguely claim "fraud" as a reason for not processing a transaction, and then drag their feet on refunds.
If anyone is having difficulty getting their money back, PM me.
If anyone is having difficulty getting their money back, PM me.
#67
Suspended
Join Date: Mar 2013
Posts: 465
Just joined up to warn everyone to not use this service. Ribbon is some combination of general incompetence and a scam. They will hold on to your money for weeks without any action, vaguely claim "fraud" as a reason for not processing a transaction, and then drag their feet on refunds.
If anyone is having difficulty getting their money back, PM me.
If anyone is having difficulty getting their money back, PM me.
#68
Join Date: May 2014
Posts: 186
I tried to cashout one $500 gc and one $200 gc. They refunded the $200 gc after two weeks (one week of waiting for the transaction to clear and another week of emailing them trying to get a refund.) Getting the $500 gc back took yet another week of pestering.
#69
Join Date: Dec 2012
Location: Murica
Posts: 344
Just joined up to warn everyone to not use this service. Ribbon is some combination of general incompetence and a scam. They will hold on to your money for weeks without any action, vaguely claim "fraud" as a reason for not processing a transaction, and then drag their feet on refunds.
#70
Join Date: Jun 2013
Location: NYC
Programs: AA EXP, Delta PM, HH Gold, Hyatt Diamond, Etihad Gold, Amtrak Select
Posts: 130
Welcome to FT!
#72
Join Date: Dec 2013
Location: California
Posts: 264
In my experience of a few cashouts, it's either very fast (1-2 days), or never, unless you email them and they then (after 1-2 days) request your ID or they say you triggered their fraud alert but they'll push the transaction through manually. So, emailing them helps, though it is annoying, and it might not be possible to do high volume of payments.
The various combinations of sender/receiver having or not having an account, and their ID verified or not, and sending to same or different bank accounts, might be treated differently. I wonder if both the sender & receiver had accounts with verified IDs, they would then not care about higher volumes.
I too was concerned about them going bankrupt and keeping our money, though I also think it's possible that their fraud alerts just trigger very easily (and our transactions do look unusual), and their way of dealing with that is not very user-friendly. If the company did disappear: has anyone had experience with disputing a charge like this with the gift card servicer, to get the money back?
#73
Join Date: Dec 2004
Location: SEA
Posts: 1,887
3 payments so far. Payment 1 never arrrived. Payment 2 arrived, but was impossible to tell whether it was payment 1 or payment 2 until weeks later when my account finally showed which payment had failed. I figured it was not worth the headache so moved on to bigger and better things. A week ago I had a friend send me $300. Legit payment, not MS. A week later the funds are still AWOL. Basically it comes down to this, if you want to spend your time and energy following up on each payment and making sure they go thru, have at it. But there are far easier and more reliable ways to cash out prepaid debit cards IMHO than dealing with these clowns.
#74
Join Date: Dec 2004
Location: SEA
Posts: 1,887
My cashout still had not shown up after 2 weeks, so I emailed ribbon and just got this reply back. W.T.F??? Can you imagine if I had used this service for payment for goods from someone I didn't know? I'd basically be out $300. Inexcusable for them to sit on a cashout for 2 weeks, make no attempt to follow up, and then when asked W.T.F. is going on with the cashout they tell you they can't process it. Run run run from these clowns.
Hi HikerT,
I'm very sorry for the delay. Unfortunately we won't be able to process this cashout for you because you're located in Washington. We've recently been told by regulators that we cannot perform any money transmission operations in the state of Washington. This means we're going to have to refund the $300 to xxx and suspend your account for now. Once we have the ability to operate in Washington we'll let you know. Sorry for the inconvenience.
- Steven
--
Steven Tang
[email protected]
I'm very sorry for the delay. Unfortunately we won't be able to process this cashout for you because you're located in Washington. We've recently been told by regulators that we cannot perform any money transmission operations in the state of Washington. This means we're going to have to refund the $300 to xxx and suspend your account for now. Once we have the ability to operate in Washington we'll let you know. Sorry for the inconvenience.
- Steven
--
Steven Tang
[email protected]
#75
Join Date: Jan 2013
Posts: 69
Oh Steven Tang how you disappoint us all. I had 500 tied up with them and they said they would refund it the first week of May. I checked for weeks, and nothing showed up. Contacted Ribbon, and Steven said he just processed it two days ago.
My cashout still had not shown up after 2 weeks, so I emailed ribbon and just got this reply back. W.T.F??? Can you imagine if I had used this service for payment for goods from someone I didn't know? I'd basically be out $300. Inexcusable for them to sit on a cashout for 2 weeks, make no attempt to follow up, and then when asked W.T.F. is going on with the cashout they tell you they can't process it. Run run run from these clowns.