With more consumers drifting away from traditional banking, there seems to be a new alternative launched every day. Promising financial freedom, fewer fees, red tape, and other perks, these independent card services draw in millions of users each year. With your money in their hands, don’t you want them to be held to the same standards as larger banks and credit unions?
One such ‘neobank’, Chime, recently made headlines due to mounting lawsuits against the company. With more than eight million account holders, many found themselves facing hidden fees, missing deposits, and other clear violations of their user agreements. As more cases come to light and cardholders seek reparations, it’s important for everyone who may be impacted by Chime lawsuits to know their rights.
Chime Bank Lawsuits: What You Should Know
As of March 2021, multiple plaintiffs have successfully sought compensation from Chime due to:
Failure to correctly process refunds
Unreasonable blocks and holds on funds and deposits
Hidden fees
Excessive charges
Transaction issues
Account access issues
Other account errors
It is important to know that though these cards carry Chime branding and are marketed as such, they are issued by either The Bancorp Bank or Stride Bank. Both institutions have previously faced legal action due to complaints about the mishandling of funds, breach of contract, and other misactions.
If you are a Chime cardholder and you have been frustrated with account balance issues, noticed refunds and deposits that never appear or are less than you expected, or faced any other issues associated with your account, don’t be afraid to advocate for yourself or find someone who will.
Understanding Your Legal Options
Often large corporations rely on the intimidation factor to get away with shady business practices. They know their size, money, and presumed wealth protect them from facing the consequences of their actions. The prospect of facing a legal battle against a faceless corporation can be daunting, but don’t let fear keep you from the money you deserve. The Onyx Group will be at your side and help you stand up for your rights.
How do you know if you have a case? We offer free consultations to review your legal options and discuss your next steps. Some general information you should know first:
Statute of limitation: there are legal limits to how long one can take to pursue damages in a court of law. The sooner you begin the process, the better.
Applicable damages: beyond satisfying debts owed, you may be able to collect additional compensation for breach of contract or other misdeeds.
Documentation: the more evidence you can produce to support your claim, the better. We can help you determine what best supports your case.
Benefits of Working with a Legal Team
As we touched on before, large companies like Chime and the banks that back it are hoping you will be too scared to pursue legal avenues for restitution. Having a legal team like The Onyx Group on your side will force them to take you and your complaints seriously. Our expertise in business law and proven track record of successful litigation give you an advantage when dealing with Chime lawsuits and settlements. Get the money you deserve. Give our offices a call today at 786-504- 5760.
The information in this blog post has been provided for informational purposes only and may not reflect the current laws in your jurisdiction. No information contained in this post should be construed as legal advice from The Onyx Group, or the author, nor is it intended to be a substitute for legal counsel on any subject matter. The information in this blog post has been provided for informational purposes only and may not reflect the current laws in your jurisdiction.