Posted by William Charles on July 16, 2015
Checking Accounts

Published on July 16th, 2015 | by William Charles

44

All Union Plus 5.10% APY Cards Will Be Closed By September 16th

If you’re a Union Plus cardholder, you should have received the following e-mail outlining a closure for September 16th, 2015. We recently talked about the diminishing options for high interest accounts, when both Union Plus & Mango stopped accepting new applicants.

Dear Valued Cardholder,

Our records indicate you have an open Union Plus Prepaid Visa® Card issued by First Bank & Trust, Brookings, South Dakota.

As such, this letter is to notify you that all Union Plus Prepaid Visa cards will be discontinued, including all services in connection with the Card, effective September 16, 2015. This means your account will be closed on September 16, 2015, or on your Card’s expiration date, whichever comes first. A new provider for this program will be contacting you directly between now and September 16, 2015 with details of the new program that will be available to you.

After September 15, 2015, your Card will no longer be available for use. Any remaining available balance will be refunded to you in accordance with the terms and conditions of your Cardholder Agreement.

THE FOLLOWING DATES APPLY LEADING UP TO THE CLOSING OF YOUR ACCOUNT:

1. August 15, 2015 – Last Day to Reload Your Card
Card loads including recurring deposits will not be available after August 15, 2015. If you receive recurring deposits (such as direct deposits) please make arrangements – as soon as possible – with your bank, payment provider or payroll department to stop those deposits from posting to the Card. Any recurring deposit initiated on or after August 15th , 2015 will be rejected and returned to the originating source.

2. September 15, 2015 – Last Day to Use Card at A Merchant or ATM
Use any remaining balance before September 16, 2015, or your Card’s expiration date, whichever comes first. Remember, your Card may be used everywhere Visa debit cards are accepted. If recurring debit charges are assessed to your account, you should contact the merchant immediately to make other arrangements for payment.

3. By September 30, 2015 – Check Issued for Remaining Funds
The check will be sent to the name and address we currently have on file no later than 30 days of account closure.

Remember, the new provider for this program will be contacting you directly and before September 16, 2015 regarding details of the prepaid card they will make available to you.

Thank you very much for your business. We regret any inconvenience this change may cause.

If you have questions regarding this notice, or any other matter related to your account, please call the number printed on the back of your card.

Union Plus Customer Service

It’ll be interesting to see if this also happens with the Mango card which was run by the same company, or maybe Mango will be taking over Union Plus cardholders as well? This is a big disappointment as it’s been great earning a 5.10% on up to $5,000, I’m interested to see who will take over Union Plus and if they’ll also offer a high interest rate on their account and also what will happen to Mango cardholders as well.

If you’re interested in high interest accounts, I’d recommend reading our introduction to them followed by different options for high interest checking accounts and high interest prepaid cards.

Hat tip to reader Geof M



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anthonyjh21
anthonyjh21

Really disappointing as I just configured our Union Plus accounts as of two weeks ago, including direct deposit w/ payroll. Back to the drawing board now.

anthonyjh21
anthonyjh21

Btw I never received this email.

emma
emma

For those who are interested in opening netSpend account for 5% interest rate, please feel free to use my referral link and you (and I) will have extra $20 for bonus – You are welcome to use my referral link for netSpend – https://mynetspendcard.com/prepaid-debit-card/applyNow.m?uref=7683441001 Here are the detailed instructions for netSpend. Hope they are clear enough for most of you. netSpend itself is a prepaid debit card account, but there is a savings account attached to it. If you have not had a netSpend account in the last 180 days, you can open one and take advantage of this offer. You can put up to $5000 in the savings account and earn 5% interest on it. There is nothing special about the prepaid debit card account and we are only going to use it as the money transfering tool. You can follow the simple steps below to open and fund the account. (1) Find a $20 bonus referral link and click the link to order a netSpend Visa prepaid debit card. (2) It takes about a week or so for the debit card to arrive. Once you have the card, go to https://www.netspend.com to activate it and sign up for an online account. (3) Once inside the online account, you should find the routing number and account number (treated as checking) linked to your debit card. You can use the two numbers in your external bank account to set up ACH transferring so that using your external bank account you can ACH money into or out of the netSpend debit card account. This ACH transferring will be treated as Direct Deposit. (4) Use your external bank account to ACH $40 into your debit card account, this will trigger the $20 bonus. (5) In order to open the attached savings account, you need to upgrade your netSpend debit card account to a premier account. It is very easy to do so because you only need to ACH $500 into your debit card account one time from your external bank account. After doing that, your debit card account will be upgraded to a premier account automatically. Because we are not going to use the debit card for shopping, we can just keep the debit card in the pay as you go plan and there is no monthly fee. Otherwise, if you put your debit card in the feeadvantage plan, you need to… Read more »

emma
emma

Just for clarification, this introduction was written by one of my Chinese friends from his blog. I did not copy and paste from any poster from FatWallet.

MrWho
MrWho

So the credit goes to your “Chinese” friend? Your friend figured all that?

Eric
Eric

William,

Are you going to keep your account open to see who takes over? Unfortunately I don’t have to make this decision as I never opened an account.

Eric
Eric

Today I received my $20 referral for signing up for NetSpend. It was VERY easy to get. If anyone’s interested below is my referral link. If you have any questions you can ask me.

http://www.mynetspendcard.com?uref=4823229118

Darron
Darron

I can also say that NetSpend is easy to setup. If you want to use my referral link I would appreciate it. It is: http://www.mynetspendcard.com?uref=3751399185. I am a member of the military and you can email me at dnasmith1499@yahoo.com if you have questions. Thanks.

trackback

[…] prepaid/savings accounts are no longer taking new customers, and subsequently Union Plus announced all existing card accounts will be discontinued by September […]

anthonyjh21
anthonyjh21

Anyone know if they’l issue the 5.1% rate for the month of August still? I emailed them and apparently this is something they can’t tell me via email (lol).

Octavio
Octavio

My “last” interest payment from Union Plus just posted to my account. Adieu Union Plus; Hello Netspend!

Paul
Paul

My interest posted as well, but now I can’t transfer any money from the savings account over to the prepaid account to start getting the money out, it errors out no matter what amount I try to transfer over. Anyone else have this issue?

anthonyjh21
anthonyjh21

Same problem. I received my August interest and I’m ready to empty the account and let it sit empty. I don’t have time to call them right now (1 year old is very loud!). Here’s the message received:

An error has occurred

An unexpected error has occurred. Sorry for the trouble. If this problem persists, please contact customer service.

Reference code: SP2YX

If I call later today I’ll update this thread.

trackback

[…] Union Plus (currently unavailable for signup) […]

anthonyjh21
anthonyjh21

Ok I just called and found out why there is an error message when transferring from Savings > Prepaid. Apparently they put a restriction on all savings accounts to prevent funding since they’re closing shop soon. He was able to transfer my entire savings balance to my prepaid account instantly. When moving the funds out it’ll automatically close the savings account as well. I went ahead and put in a transfer request through my Ally bank account to pull the funds from the prepaid account. I left 15 cents in the account just in case there is an issue lol.

Once the funds are gone, I’m not sure what happens to the $2 monthly fee that won’t be waived since I’m not feeding the account to maintain my savings interest. Anyone know off hand? I’m hoping that if the account has a $0 or negligible balance I won’t be charged.

Once the funds are safely in my Ally account I’ll have to call again and close the account if necessary. I was hoping to leave the account dormant in hopes that they’d roll out another offer, similar to what Mango recently went through.

Octavio
Octavio

Thanks for the info! I’ll go ahead and give them a call to transfer the money to my prepaid account and ACH out. You know, I don’t think they are going to charge the $2 fee this month b/c they blocked incoming ACH and card loads on August 15th so it was impossible for many of us to make the $500 deposit. I was only able to deposit make a $25 deposit this month and did not get charged the 2 bucks – maybe it will be the same next month.

The funny thing is that if it weren’t for this site, I would have never known that Union Plus was closing since I never got the email; heck I never got the actual card to begin with, even though I have 4 cards “processing/delivery” (maybe that’s the reason why I never got the email)

ldyliuser
ldyliuser

I’m in a similar situation – I never got the email from Union Plus about them closing all the accounts, and I never got the card to begin with! I was so confused because my direct deposits were getting cancelled and I couldn’t transfer any money in to meet the $500 deposit, and I got charged the $2 subscription fee on Sept 3. I called customer service to see if there was something wrong with my card, and they said they are closing all accounts!! I had no idea.

Unfortunately, the customer service rep I was talking to said they could not refund me the subscription fee anymore… did anyone else have this issue? I still have money in the account, wish I knew they were closing so I could have transferred my money out first, then wouldn’t have to deal with this.

Octavio
Octavio

Hey there, so sorry about your problems. When I called customer service to manually transfer the balance from my savings account to my prepaid/pseudo-checking account, I was told that since I did not have the card, I could ACH out using another bank or Paypal. I used Paypal to get my money out. If you already had the account associated with Paypal or another bank you may be able to do the same. However, if it was not associated, then I don’t think that will be an option since the trial deposits will fail. Best of luck.

Interestingly enough, even though Paypal shows the transfer was successful and credited my account, my Union Plus account shows absolutely no debits and the balance is intact.

anthonyjh21
anthonyjh21

I just got off the phone with their inept and utterly useless customer support. I was told that I can only withdraw to PayPal right now, although I’m not 100% sure if there are other account issues because they hung up on me while on hold. I submitted an “add funds” request through PayPal, which was already verified w/ Union Plus.

Want to note to others that my attempt to have the funds sent to Ally Bank (which was already linked to Union Plus) failed. I asked why it was only PayPal now being allowed since less than two weeks ago I had funds from my other Union Plus account sent to Ally Bank without any issues. He told me as of Sept 1st they put a restriction on funds going in/out, including the prepaid and savings account. I’m hoping the PayPal transfer goes through so that I can be done with them. Man, what a headache for only 3 months of interest.

Octavio
Octavio

I can corroborate to the “restrictions” they placed on the account w/o anyone’s knowledge. I called them this morning b/c I was afraid that the amount had not been debited from my Union Plus account even though it has been sitting on my Paypal account for about 5 days (essentially I have $5000 in Paypal and $5000 in Union Plus), and they told me that they had put a restriction early this month and that he “removed” it. He also told me to “try” it again – I was like “try what again?” Paypal has already credited me the $5000 (not showing pending), so I can’t put ANOTHER withdrawal request.

Then he told me that “maybe” Paypal got paid – “MAYBE” – they either did or didn’t! Right now I am afraid of moving the money in my Paypal account b/c I know I am going to owe someone – I don’t think this is like monopoly where the “bank made an error in my favor”

Octavio
Octavio

I am glad to say that after they removed the block today, my account was debited and it showed as “EFT Load – Delayed ACH debit transaction.” I am officially done with Union Plus; let’s see if the new provider will contact us before 9/16/15 as the email stated – then again I probably won’t get the email since I never got the first one to begin with.

The union plus site (not the prepaid card site) does say:
“Union Plus is currently developing a new Prepaid Debit Card program, slated to launch later in 2015. We’ll also update all cardholders as soon as a new program is available.”
Here’s to hoping the new program is as good or better than the former one.

autum
autum

Never got the email either. Never got a hold of customer service when calling the number on the back of the card. Always said busy and was hung up on every time. Asked about the fee and was told I won’t be charged but now I’m charged. Tried to make a deposit but returned. Because I didn’t get the email I had just made a failed direct deposit. Now I don’t know where my money went. And then I went ahead opening a mango prepaid not knowing if they still exist. Called their number but was on hold too long like it’s a ghost town. So I filed a complaint to FDIC.

Jus
Jus

Ran into similar issues, the guy told me I had to use ATM withdrawals to get my money out as no other options are available. I told him I never got the card and that I gave up on that after requesting it twice to resend to me. He agreed and apologized whatever that was worth and then said I would not be able to transfer money to any bank acct or anything. So I told him to cancel mine and my wifes account and he said check will be mailed within 30 days. I took screenshot of both of our acct balances and now when I try to login it says call CS. Hopefully they don’t screw me over. Gonna probably call them next week to get update

anthonyjh21
anthonyjh21

Keep me posted please!

anthonyjh21
anthonyjh21

I was able to pull the funds out of my personal account. The funds in my wife’s account were a pain in the ass to try to pull out and after a few failed attempts (and inept support) I ran into the deadline and now it’s a waiting game for the funds. Guess they have an interest free loan of a few weeks with my money!

autum
autum

After filing a complaint to FDIC they reversed the fee, so I should be receiving a check for that too. I think we all should receive our checks by the end of this month. Wish it’s sooner.

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