MONEX GROUP Customer Service = nonexistant

[Beenburned]

http://www.cbc.ca/marketplace/about/..._from_you.html

If EVERYONE with a ligit beef submited a form, they will be sure to act on a case like this. It's big news. But you need to be willing to post the complaint with your full contact information.

Someone, or a bunch of individuals registering a complaint would get the ball rolling...C'mon, we know you ar e out there!

Who's ready to stand up and be counted!!!

[pacifistworld]

Thank you Beenburned!

I did not realize that 2nd page must be initialed in order to be valid!

thats good news. I did not initial it. The rep slipped it quietly. I just signed on the first page that does NOT say anything about 90 months contract or $5grand penalty.

They cannot impose their hidden 90 months+$5grand penalty.

I am really thankful to you for pointing it out.

I'd love to join the CBC or similar campaign against Monex. But can't give much time since i run my small store alone, and have a family with 2 small kids.

Any other people? Any other ideas?

Is it OK to disclose the Monex contract to CBC etc? Is it confidential or what? But I believe once they are breaching out their own contract, we can disclose their contract too? it should be no big deal.

thanks

[gustoff]

Hi guys,

Is there any update with any of these complaints?

I am currently indifferent about Monex and wanting to learn more. Obviously after reading 3 pages of complaints they are not seeming like very good company.

I'm wondering if anyone has an update on their complaints from Monex or any information that you could lend me about them?

What other hidden costs do they have?

Thanks.

[gustoff]

Hi guys,

Is there any update with any of these complaints?

I am currently indifferent about Monex and wanting to learn more. Obviously after reading 3 pages of complaints they are not seeming like very good company.

I'm wondering if anyone has an update on their complaints from Monex or any information that you could lend me about them?

What other hidden costs do they have?

Thanks.

[Beenburned]

Indifferent about MONEX?!? The whole world is in a credit crisis, and you are indifferent?!?

If it can be said that Debit and Credit providers are one notch above lawyers as the scum of the business world, then Monex is the bottom of the group.

Latest ad says a 0.50% reduction of your rates....watch for even higher rates of transactions fees or what I believe is called haulage then....

And who could possibly even get 1.39% these days!

Any ohers out there who didn't see a back page of a contract...until it was too late? Some companys out there don't even have a back [age of a contract....

[MrGamma]

I'm going to guess...

You get what you pay for... in this case you get nothing!

[cantwin]

Indifferent about MONEX?!? The whole world is in a credit crisis, and you are indifferent?!?

If it can be said that Debit and Credit providers are one notch above lawyers as the scum of the business world, then Monex is the bottom of the group.

Latest ad says a 0.50% reduction of your rates....watch for even higher rates of transactions fees or what I believe is called haulage then....

And who could possibly even get 1.39% these days!

Any ohers out there who didn't see a back page of a contract...until it was too late? Some companys out there don't even have a back [age of a contract....

yea if you believe that 1.39 is out there, prepare yourself for hidden fees

[treasure]

Hi,
What ever you do, DO NOT SIGN ANYTHING WITH MONEX!
Read what BBB also have to say about them. At least one complaint every week. And also, watch out for all the other companies they deal with. What I have seen so are they only some kind of umbrella company for many other. Debit is one company, creditcard another, the machine another (this company work from USA). And the biggest scam is WARRANTY! Big money for them, so watch out.
I have been fighting with them over one year. The methods of business is not honest. The salesperson we had got cold feets when we started to ask questions, he quit his job! That man did not even know what he was selling!!! For the moment we are in a lease lasting for four years, but I can hardly wait until the day we are going to cancel this ****. 120 days before we signed it we can cancel. I have it written in my calender and a letter prepared to be sent.

[phz3]

Hi,

Currently this is my situation with Monex. My mom (who barely speaks any english)

Is with Monex and she signed the agreement. Now the business is closing and we would like to cancel the service with Monex but they are asking for $700 dollars.. the person i have spoke to has said they will take it to court etc.. other usual threats..

now I see the 2nd page which says its for 90 months plus a $5000 dollar cancellation fee!! (for a business that went out of business!) .. I asked my mom why should would sign it but she was unaware of all those details !

there is no signature/initial on the 2nd page..

Are you sure that without the initials on the 2nd page we can go to court and win?

If you did not initial the back page of the contract, the one with the small print and fee clauses, at the time of signing, or afterwards, then in court it will be impossible for them to prove you were signing the full contract. If you didn't see the back page, then you have cause to fight. Hopefully there was someone with you when you signed the front page who saw that there was no back page signed.

Yes, I am suprised that no one has had any of the newspapers, TV show and support groups as such, do a major investigation of thier poor business practices! If one (CBC?) was chosen, and a bunch of individuals all approached them, they would be sure to get great feedback and a great story.

An interview with the Juvenile Owner, and/or his family and friends who protect him, would be worth watching!

They have misrepresented themselves to so many merchants, that they would come out of the woodwork for any such investigation.

And yes, you need to stop payment with your bank to ensure that any number of different named companies don't try to take funds out of your account...

[richie70]

Is there anyone stand up to fight Monex in the court?

[MrGamma]

Is there anyone stand up to fight Monex in the court?

I don't get it? They clearly wrote the cost of doing business on their contracts. How exactly is taking them to court going to get someone out of a business arrangement that clearly wasn't evaluated properly?

I hate to say it... but this thread is more like a moan and groan, cry me a river thread than any sort of serious "un-justice" to the Canadian people.

jmo...

I know of far worse deals going on everyday with American companies coming up from across the border... At least Monex employs Canadians... no wonder they charge you to back out of a business deal with them... They have to pay their own costs... If you can't afford to do business with them...

Then why do the business? Just asking... because I really don't have the answer as to why people will sign contracts for things they clearly don't read.

[richie70]

Beside the hiden fee and extra fee, Monex don't provide the statement. you do not know if the amount between host side and teminal side is matched when you close batch.

if it is not matched, that means you lost money.

[MrGamma]

Beside the hiden fee and extra fee, Monex don't provide the statement. you do not know if the amount between host side and teminal side is matched when you close batch.

if it is not matched, that means you lost money.

Whoops... My Mistake... this is clearly a company which is Canadian because they say, "They are Canadian."

Hey... looks like they started out selling watches too...

http://web.archive.org/web/200108151...products.html#

And I thought there were crazy ivy league templated companies slipping up from across the border... silly of me to think it really...

a 5,000 cancellation fee is a clear indication that they have the infrastructure needed to support local business...


Hmmmnnn... They have 120 reps across all major cities in Canada...

http://www.monexgroup.com/AboutUs.aspx

How exactly do I contact one of those reps? No... nobody could have seen this one coming... "cry me a river"... jmo...

OMG... "Monex Group is Canada’s premiere ATM provider, Offering a complete ATM solution that fits your needs."

http://www.monexgroup.com/ATM.aspx



This guy should have at the very least hired a graphic designer to do the job right... jmo...

EDIT

My Mistake... they are hiring Canadians...

http://www.simplyhired.ca/job-id/yww...aralegal-jobs/

[phz3]

bump

[Japhi]

Monex is definately the provider that I hear the most complaints about.

There are only 6 top level processors in Canada; First Data, TD, Moneris, Paymentech, Elavon and Global Payments. Everyone else (Pivotal, Collective POS, POS West) are resellers.

Moneris processes for Monex. Moneris owns the Visa/MC entitlements and Monex owns the terminal and debit. Monex makes most of their money on terminal sales/swaps and debit minimums (usually $20).

Their margin on the Visa/MC is so low their model can't support the customer services required to service merchants properly. So they lock you down with a crazy early termination fee.

If your terminal breaks down - tough luck, they'll sell you a new one.

Morale of the story; read your contract - payment processing is no different than a line of credit or bank loan. It's serious business and you need to know what you are commiting to.