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So! I did some more double checking and Cashnet (I think) is wrong!

They say my account was funded on June 16th 2008 and on June 30th a payment of $75 is due or pay the loan in full.

We NEVER received any funding on June 16th. I checked the account records. On June 16th Cashnet attempted to debit the account $75 but I blocked it. I knew it was a reason I didn't recognize the transaction!
So I called cashnet and they said the loan was funded on June 16th...only it was NOT! Me nor my hubby receied any funds from cashnet usa on the 16th or ever! Now here is the tricky part. On May 30th we received 2 $300 loans from nh cash and ncp payday advance. Is ncp a part of cashnet? nhcash debits and credits under the same name but could cashnet be using two different names, ncp to fund and cashnet usa to debit? And if so, is this allowed? It seems confusing to the customer seeing all these different names on their bankstatement...

Posted: Wed Jun 25, 2008 12:02 pm Subject: reply

i never dealt with cashnet usa,but some members have.
sit tight someone will be able to advise further.

Posted: Wed Jun 25, 2008 12:04 pm Subject:

Cash Net USA is a legally operating company, and they only debit under their name.

Are you sure it's Cash Net USA and not another Cash Net?

If it is Cash Net USA, then it should be fairly easy to clear up the problem.

Posted: Wed Jun 25, 2008 12:15 pm Subject:

What state are you in? Cashnet is licensed and they are based out Chicago, IL. You can check your states dept. of financial institutions to see what name they pop-up under.

Posted: Wed Jun 25, 2008 12:55 pm Subject:

My state is Maryland. This is just confusing to me. The loan received on May 30th was from ncp Padyday advance for $300. The payment debit was from Cash Net USA Payday advance on June 16th for $71.61. This is what threw me for a loop. There was never a deposit or credit from CashNet...only from ncp payday advance and nhcash.

Nhcash I'm working with and there is no confusion...but why deposit the cash under ncp payday...but do a debit of $71 under Cash Net?? Right after that I blocked the account. But Cashnet is saying we received $300 on June 16th...which is certainly not the case at all...see why I am confused?

If it turns out that cashnet usa is using two different names then whoever gets the payments sure better not try and get me for TWO $300 balances.

Posted: Wed Jun 25, 2008 1:07 pm Subject:

well I did a search on the Maryland liscense search and it didnt' list anyother names besides Cashnet.

Posted: Wed Jun 25, 2008 1:09 pm Subject:

Who is NHCash, because I didn't find anything on them either being licensed.

Posted: Wed Jun 25, 2008 1:13 pm Subject:

nh cash is nhcash.com also called nhcashsilver.

I will try the cashnet website and see what I can find.

I can't find ncp Paydayadv either, but that is surely on my statement...the more I ponder this, the more I think that cashnet is using 2 different names to do their business..ncp paydayadv for the credits and cashnet usa for the debits...now why they are doing this just seems fishy to me... Sad

Posted: Wed Jun 25, 2008 1:25 pm Subject:

This is from the cashnetusa website.

Posted: Wed Jun 25, 2008 1:28 pm Subject:

Thing is, when Cash Net USA acts as a CSO, they also service the loan.

The deposit and debits would all the from Cash Net USA. You would never know who the actual lender is. That is how CSO's work.

Posted: Wed Jun 25, 2008 1:32 pm Subject:

I wonder if there is anyway the bank could trace the transaction from NCP payday...I know the bank I work at, sometimes we can look into transactions a little further and they may have telephone numbers attached to them.

Posted: Wed Jun 25, 2008 1:39 pm Subject:

Nope, the fee was $71.61, not $75. But when I called Cashnet said the fee is $75....

Too much inconsistency for me, this is why I am a little on edge and cancelled both companies ach authrization, I eevn re sent the letter to include any and all account ach revoke just incase they tried to get me at another account...

The deposit was $300 and the fee from cashnet usa was $71.61...what's up with that, they can just make random charges? Oh and then they up and charged me two payments of $30 something each, but my bank cancelled the charges out and didn't charge me a fee for doing so.

Posted: Wed Jun 25, 2008 1:44 pm Subject:

If you go to cashnetusa's website and click on the rates and fees for maryland it will tell you about how much your fee's will be for whatever was borrowed and how many days the loan was out.