MONEX GROUP Customer Service = nonexistant

[Sandrahope67]

Stay as far away from Monex for your processing as possible. They tell you nothing up front. They just whacked $500.00 out of my account because I hadn't used it for three months. They called it an account cancellation fee, although I hadn't cancelled the account. They won't put it back in for at least 6 months. I told them to stuff it you know where. This company need to be investigated. Just wish I knew who to send my complaints too. Now my account is cancelled and they have an extra $500.00.

Get the Bank to charge back Monex. All you have to do is fill out a form explaining why you want the charge back, then put a stop payment against Monex on your account...if they manage to withdraw any funds with a stop payment, the bank will be responsible to put the money back into your account.

[Sandrahope67]

Hi openeye,
Thank you for your kind words, and I am sorry to hear about the problems you have.

Regarding your contract: Monex places a "automatic renewal" clause in it, you have to give them some 6 months notice if you want to cancel, and I met several merchants that had money taken from their accounts once they gave notice, so be careful. There is not such thing as automatic renewal, at least in Ontario.

Warranty: most providers will offer some sort of warranty, but you have to be aware of what you get. One of the companies I deal with has a $199 no questions asked replacement policy (24 hours) for as long as you stay with them (so in theory, 15 years from now you get a new terminal for $200 - not a bad deal). However, some providers will wave the fee sometimes - in the last 4 years I had 2 defective terminals (and one of them was a merchant mistake - his phone line splitter was defective), and for both of them the provider waved the fees, including the shipping cost. Please note that this is a very limited experience.
If it's a matter of software, most providers will fix it over the phone/net free of charge.

Class action suit: I heard several people talk about it, never actually heard anything about one that started, and I am not sure if there are any grounds for it - but you are free to try.

Good luck,
Cristian.

I have a good friend in the Merchant Services industry and in discussing Monex with them, they believe there is grounds for a class action law suit against them. If anyone decides to go ahead with it, I'm in.

[Sandrahope67]

Today we received an email from Monex that they had taken $500 from our bank account and had also cancelled our agreement with them as we weren't using the debit card machine enough! My husband has been in the hospital (has more surgery scheduled) and I too have been sick so we haven't been able to run our business as usual. We have not missed a single payment.

I went to the bank and found out that they took the $500 over a month ago and notified us today about it. They also took payments out of our account after they supposedly cancelled the agreement. We have/had only six months left on the agreement.

To put a stop payment on further withdrawals by Monex, we have to know the exact amount they will withdraw. Every monthly payment has been different. They are never exactly the same. The bank said that if they vary the amount by even one cent, we can't prevent them from withdrawing it.

We have applied to have the $500 withdrawal contested by the bank. But if Monex decides to continue to take money from us each month, we are powerless to stop them through our bank. If anyone knows what we can do, please help!

You CAN put a stop payment on your bank account by setting it at .01 penny and DO NOT put any specific day of the month on the stop payment. What this will do is stop Monex from withdrawing anything over ONE penny on ANY day of the month. This stop payment will work for up to six months, then if you feel you need to, you can extend the stop payment and re-do it for another six months .

[Sandrahope67]

Stay as far away from Monex for your processing as possible. They tell you nothing up front. They just whacked $500.00 out of my account because I hadn't used it for three months. They called it an account cancellation fee, although I hadn't cancelled the account. They won't put it back in for at least 6 months. I told them to stuff it you know where. This company need to be investigated. Just wish I knew who to send my complaints too. Now my account is cancelled and they have an extra $500.00.

Report them to the FCAC! I am here to make sure everyone knows they can fight these Aholes! If it's the last thing I do, I will make sure they shut their doors permanently!
The more complaints the FCAC receives against Monex...the worse it will be for them.

FCAC phone number - 1-866-461-3222
email - info@fcac.gc.ca

[Sandrahope67]

Thanks. I will send a letter and give FCAC a call. Do you know how FCAC usually handle such case?

Yesterday we received a call from a collection agency hired by Monex. The agency said we owe Monex money. We do want to end the contract with Monex since our business has been closed, but we haven't done anything and still been paying Monex the $$ every month. How can they all the sudden send our account to collection? So after explaining to the collection agency, she told us to contact Monex, which we did, Monex said they no longer has detail or access to our account since it has been sent to collection. Monex told us to sort things out with the collection agency, long story short, back and forth many times, I'm running in a circle. I even asked Monex how can you not able to tell me why am I being sent to the collection agency when Monex was the one that gave my file to them? They can't answer my question. This is unbelievable when we've been still paying $$ to monex every month even though we haven't been using the interac machine, now they going after us for $$ ??? I have a hard time believing this is actually happening. I told the agency to sent me a formal letter of what's owe, still waiting for the letter as of now. My plan is after receiving that letter, I'll bring the letter along with my bank account statement to show the monthly withdrawal to Monex.

Also, can anyone tell me if they had successfully end the contract with Monex, how did you do it? I read all the threads in this forum, any result for those brought Monex to the court? Has anyone actually filed a class action toward Monex? I would be very interested to join. Please advise!!! Thanks.

Yes, this is EXACTLY the sort of thing the FCAC deals with and they WILL be investigated by FCAC once you file your complaint with them. The more people file complaints against them to the FCAC the worse it is for MONEX!

[nicole888]

Yes, this is EXACTLY the sort of thing the FCAC deals with and they WILL be investigated by FCAC once you file your complaint with them. The more people file complaints against them to the FCAC the worse it is for MONEX!

How do I take any action??? Brian in the legal department hung up on me when I called to cancel my contract due to a breech in the Code of Conduct. I have been told that there is no one else for me to talk to!!!

[Cristian_01]

How do I take any action??? Brian in the legal department hung up on me when I called to cancel my contract due to a breech in the Code of Conduct. I have been told that there is no one else for me to talk to!!!

Change your bank account.
Fax Monex a letter of cancellation - with the issues you have. make ABSOLUTELY SURE that they are in breach of contract.
Stop using their terminal, find out how to send it back. (add the request at the end of your cancellation letter)
Go to another provider for your POS needs.

Hope this helps. (I will also send you a private message).
Cristian.

[nicole888]

Change your bank account.
Fax Monex a letter of cancellation - with the issues you have. make ABSOLUTELY SURE that they are in breach of contract.
Stop using their terminal, find out how to send it back. (add the request at the end of your cancellation letter)
Go to another provider for your POS needs.

Hope this helps. (I will also send you a private message).
Cristian.

They are charging me for a cancellation fee when we did not even cancel. But then they are telling me that it is because we have no transactions in two months. I have read this contract over and over and do not see this anywhere in it. Breech of contract?

[italian11]

If you are approached by Monex, you should absolutely kick them out of your store and call the police. They are the worst company in the payment processing industry and should be avoided at all costs. I worked with Monex for a short time unfortunately until I found out what they were really like through one of their CSR's at Head Office in Vaughan. If I had read all the different agreements, especially page 2 with their print that requires a magnifying glass to read, I would not have worked for them for 1 day. There are numerous charges that you need to be aware of on page 2 of the agreement that the sales rep will not tell you about i.e. charges for transactions that do not go through which will cost you an additional 15 to 20 cents/transaction. I unfortunately trusted my slick talking former boss who only pointed out a few things that the client needed to know without mentioning the important points. You should also read the 3 page lease agreement which pretty much locks you in for the rest of your life. It is far better to just buy one of these units so they can't charge you the remaining lease payments just like a car lease. Do not work for this company and do not become a merchant. I plan on alerting newspapers in every single small town I know as well as The Globe and Mail and also plan on contacing W5 and CBC Marketplace because people need to know the crooks that these people are. I regret every day that I worked for this company and think it is time that the entire country knows what kind of people run this company. All I can say is SHAME ON YOU MONEX YOU CRIMINALS!!!!!!!!!!!!!

[italian11]

I have used this company pos service year 2004 when I started my shop and I have terminated my agreement on year 2009 due to they have a terrible customer services and overdrew my account many times with refund them. But on March 08 2011 , they withdrew $ 500 from my bank account. I think this company have to report to the the police and CBC market place asap.

I worked for the company for a short time back in 2009 until I found out what they were really like. I have contacted CBC Marketplace and plan on sending them enough information so they can air a story on their show and expose these pieces of garbage once and for all.

[Sandrahope67]

I worked for the company for a short time back in 2009 until I found out what they were really like. I have contacted CBC Marketplace and plan on sending them enough information so they can air a story on their show and expose these pieces of garbage once and for all.

I also sent information to CBC's Marketplace in hopes that they will do a story so that ALL businesses out there can be warned NOT to do business with them. Brian Griff-idiot in what Monex calls their legal (LOL) department is a joke himself who begins stuttering when he gets nervous because he has no answers for you. My suggestion (and what I did) is not to even waste your time speaking with anyone at Monex and just contact Chase Paymentech directly because they have MUCH different standards in how they run their business and they have zero tolerance on how Monex treats their customers. I do believe it's only a matter of time before Chase Paymentech DUMPS the Monex Group. If anyone wants direct email addresses to the top Chase Paymentech executives that I guarantee will deal with Monex for you directly...just private message me and I will provide you with email addresses of the people to contact. Believe me when I say they WILL take you very seriously and get back to you the same day!

[Sandrahope67]

They are charging me for a cancellation fee when we did not even cancel. But then they are telling me that it is because we have no transactions in two months. I have read this contract over and over and do not see this anywhere in it. Breech of contract?

Like I stated in my message below. Contact Chase Paymentech directly and don't even waste your time trying to talk to Monex. If they are in breach of contract and they never disclosed certain charges, etc. this will VOID any contract you have. If you have not initialed or signed the page with their specific terms it is NOT valid REGARDLESS of what they say. They will TRY and use scare tactics and ACT like they are in the right, even when they know they are not...DO NOT fall for it and DO NOT give in!!! This is what they want because they know most people will give up and/or most people will believe they can't fight them! BUT YOU CAN and I personally am having SO MUCH FUN tormenting them right now and causing ALL KINDS of problems for them. Sadly for them, I won't stop, I have made turning their world upside down my 2012 resolution. lol
Also, it is VERY important to report them to FCAC ....they will investigate Monex and possibly even fine them for breaking their "Code of Conduct".

[Cristian_01]

My suggestion (and what I did) is not to even waste your time speaking with anyone at Monex and just contact Chase Paymentech directly because they have MUCH different standards in how they run their business and they have zero tolerance on how Monex treats their customers. I do believe it's only a matter of time before Chase Paymentech DUMPS the Monex Group.

I have been wondering about that for a while now - Monex sold for Chase for several years, and there were always complaints. Chase did nothing.
IMO, Chase has no interest in getting rid of Monex, they can always say well, you signed a contract with Monex, you need to talk to them. I know of several situations where Monex sends the merchant to Chase and Chase sends them back to Monex.

Bottom line - and I said this several times - it is up to the business owner to look after their own interests.
Cristian.

[Minhp8888]

Hi

I have read all the post about them.
I talked to Chase Paymentech, they passed me back to Monex again and the problem never end!
File a Complaint with the FCAC, which I'm going to but still, We need to end of the story from Monex, not only me but for all, who ever dealing or going to deal with them don't have this problem again!
If you are or been doing something, let me know
Regards

Rickie

[Cristian_01]

I talked to Chase Paymentech, they passed me back to Monex again and the problem never end!
File a Complaint with the FCAC, which I'm going to but still, We need to end of the story from Monex, not only me but for all, who ever dealing or going to deal with them don't have this problem again!

The greatest issue with this is that the industry is not regulated. Merchants sign contracts without reading them first, or based on "trust", which creates a lot of problems sometimes.

The only thing that can be done with proper results at this time is merchant education. "Spread the word, brothers and sisters!"
Unfortunately, business owners are too busy running their businesses to do this properly, until they get screwed. And even then, some prefer to "wait it out" - lack of time, lack of advice, whatever. Not everyone reads RFD.

Sorry but this is the truth.
Cristian.