The Federal Trade Commission is mailing more than 430,000 checks totaling some $10 million to people who were denied access to their money when using popular prepaid debit cards.
The money is going to users of NetSpend, a provider of reloadable prepaid debit cards for Visa and Mastercard. According to the FTC complaint, many NetSpend customers were unable to access their funds, either because the company denied or delayed activation of their card or because they were blocked from using it.
The settlement covers people who purchased NetSpend cards from Jan. 1, 2010 to Aug. 31, 2016.
NetSpend already provided refunds to eligible customers who requested them before October 2017. Any of the money that wasn't paid out at that time went back to the FTC, which is distributing it to customers who did not receive a refund previously.
Recipients should deposit or cash the check within 60 days, the FTC said. Anyone wanting more information should call the FTC at 1-888-684-4858.