RushCard promises to pay back its customers for lost money

- If you've lost access to your money and got hit with late fees the pre-paid visa card known as RushCard says it will make it up to you.

This Thursday, the card's backer - hip hop pioneer Russell Simmons - announced a multimillion dollar fund to help make people whole.

Wayne Branch works in Charlotte at the car auction off Westinghouse Boulevard, but he says he hasn't seen a paycheck in three weeks.

"I didn't have gas in my car, I didn't have anything. It was like being broke and working. I had to go to work the next day broke. How is this possible?" said Branch.

He was getting paid, but couldn't access his own money. Branch says his paycheck was going straight to a pre-paid visa card called RushCard.

The company had a so-called computer glitch earlier this month which left hundreds of thousands of people without access to their hard earned cash.

"Rent was due, my car bill was due, I had food to buy, and I couldn't do any of those things. I had worked two weeks and I had no money," said Branch.

Russell Simmons, the big name behind RushCard, says he's creating a fund to pay for any late fees folks have had to deal with over the past weeks, but he didn't say how or when they'll actually get that money.

For Wayne Branch, there's no going back.

"I don't trust pre-paid cards anymore because they can take your money and you have no help," said Branch.

But leaving behind pre-paid cards is not an option for some who can't get a regular bank account, according to the Better Business Bureau's Tom Bartholomy.

"The people who are turning to these cards can no longer do business with banks. The people we talked to had overdraft issues so the bank has frozen them out," said Bartholomy.

Russell Simmons himself has gone so far as to ask people to "direct message" him on Twitter so he can help them get their money back.

The RushCard company says services are currently back up and running, but to get compensated for money lost, you'll have to show proof of any late fees or financial setbacks.

Federal regulators are still investigating exactly what went wrong with the RushCard system.

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