RushCard co-founder says system up after weeks system failures - WTVM.com-Columbus, GA News Weather & Sports

RushCard co-founder says system up after weeks system failures

A screenshot of a tweet sent by Russell Simmons on Monday. (Source: Twitter) A screenshot of a tweet sent by Russell Simmons on Monday. (Source: Twitter)

(WTVM) – Multi-media mogul and RushCard Co-Founder Russell Simmons announced via Twitter on Monday that his plagued prepaid debit card’s system is back to full functionality, following nearly three weeks of system failures.

In posts on both Twitter and Facebook, RushCard said that their systems have been “restored.”

The posts read:

Dear Valued RushCard Members,

We can announce today that all major functionality, including 2 day advance direct deposits and card-to-card transfers, is restored.

If you are still experiencing any issue with your card, our call center wait times have returned to normal. Please ensure that you are calling the number on the back of your card.

Finally, we expect government benefits to post later this week: SSI/VA should post on October 28 and SSA should post on October 30.

Customers first began reporting system failures on Oct. 11 during what was described as a “technology transaction” by RushCard. 

During the technological issues with RushCard, hundreds of thousands of customers, many of whom have low-income backgrounds, did not have access to their money, could not withdraw money, access their account information online, and would have their cards decline upon use.

On Monday, 11 consumer groups sent a letter to the Federal Reserve board, and others, to increase protection of the un-banked against instances like the RushCard fiasco.

On Oct. 23, Consumer Financial Protection Bureau Director Richard Cordray said in a statement the CFPB will “get to the bottom” of the RushCard situation.

“We have stressed that RushCard and its relevant business partners must ensure that no other consumers will be denied access to their funds,” Cordray said. “Further, we indicated that the CFPB is prepared to use all appropriate tools at our disposal to help ensure that consumers obtain the relief that they deserve.”

On their RushCard blog, the company said they would be observing a "fee holiday season" for cardholders. Customers would not see any fees from the feed schedule from Nov. 1 to Feb 29, 2016. 

RELATED: Consumer Alert: RushCard customers unable to access their money

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