Post by "Pop" Stran on Jan 14, 2017 14:01:19 GMT -5
Preface:
We began this experiment when our granddaughter started school out of her home state. An allowance card is a convenient way to budget income.
Upside was not our first choice, but that card closed up shop 3 months after we got it, so we activated plan B. Enter Upside.
As with most allowance cards, you need to open two separate accounts: One for the parent who will manage the account, which is done when you first register for a card; The second for (and preferably by) the teen once they receive the card, done at activation.
The ease of loading the card is impressive. I can put from $50 to $150 on the card from my den in about 5 minutes, which is helpful when she overshoots her budget and calls late.
The monthly fees that are normally charged to her are waived if I paid $60 up front, which I did. Better me than her, but they still hit her anyway...because monthlies are just the beginning.
After ninety (90) days of testing, the results so far are riding the Scam / No Scam fence and fees are at the heart of the reason.
As I mentioned, I opted to protect her from a $5 monthly fee by paying a year's worth up front. Before I could even put a dime on the card. So, I feel good about that, and believe that now she will get to keep every dollar that I put on the card, right?
Wrong.
Every night, they charge her card a buck ($.99) as a "account balance check" fee.
A dollar a day, $30 monthly. I felt great about saving her the $5 monthly, only to find out the hard way that five bucks was the smaller of the fees they planned to levy against this child's account.
I called their 1-800 CS line to find out how they justify this, but it is 100% automated. To speak to a live operator, you must agree to pay $1.
That's right: If you ever have a question, answers start at one dollar each.
Oh, that reminds me: During registration they force you to choose 4 weirdly obscure security questions from a list as your new account verifications. Each time you log on, after you log in, they ask you at least two of these questions.
Should you get them wrong four times, your account is locked. You must call the 800 number again for assistance.
Guess what? You not only have to pay $1 to get an operator, you also have to pay another $3 (2.99) for an account reset, the only recourse for a locked account.
One more time: If you forget your password, or one of their stupid security questions, they take $4 from your child! (and later that night, another dollar to check the daily balance).
The cold-hearted greed behind this system is stunning.
This is even worse than those savagely greedly gift card companies who rob your kids every time they try to shop with it.
This testing will not make it much further, but to be fair to all concerned we will try to hold it open another few months. It should be no secret where this one is headed, though.
I'm all for a company making a profit, but greed makes us all a little sick when we see it.