MoneyPak Online? It Seems Like A Great Idea Right?
You actually can buy a MoneyPak online with Reload Packs. Members can buy a MoneyPak card online and receive the validation code within a few hours of payment. We admit that our membership has tighten and requires a more in-depth process but there is a reason for that, and this is likely the reason GreenDot doesn’t offer the service online. That reason is fraud. Financial services online especially money services is consider a high risk business, and a risky business it is.
Here’s An Example…
Lets say someone buy a $100 MoneyPak online. They pay the $5 fee so the total is 105$ and everything is fine. They get the validation code and load their debit card with the money. This would be the ethical way to do it. However, not everyone is ethical. Lets say this person then calls their bank and say they did not authorize that transaction and request a chargeback. What happens then is the bank will likely refund that customer back that $105. GreenDot would be out of $100 and the unethical customer would have just gain $100 for free at the expense of GreenDot.
We Were Scammed Out of $1,000 Trying To Help Users
The above situation is called white collar fraud and it’s exactly what happened to Reload Packs in the beginning, and probably why GreenDot made the decision not to sell online. It may seem too much of a headache. We were scammed out of a little over $1,000 in chargeback fraud committed by a couple of scammers, who once they received their MoneyPak online decided to call their bank and state the transaction was not authorized. We receive very little to no complaints about our service. However, we do receive complaints about not being able to sign up. This is why today our membership process is a bit rigorous because we have to vet potential members. Our current 5,000 members are all ethical customers who have enjoyed our exclusive service for nearly 5 years we’ve been in business.