Complaint Review: Monex Group - Toronto Ontario
- Monex Group 5075 Yonge Street, Toronto, Ontario Canada
- Phone: 1.866.286.7787
- Web: www.monexgroup.com
- Category: Credit Card Processing (ACH) Companies
Monex Group Monex is unscrupulous with leases that go on auto-renew without warning Toronto Ontario
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It looks like Monex has a lot of people angry and upset. You can now add me to the list. I have been with them for over four years, and I did not even know I had a lease! NO ONE told me, only that I was leasing the terminal!! What else am I leasing? Certainly not the Ingenico 1500 which I get form First Data and costs $30 per month! (By the way that unit is $300 RETAIL COST! so I have paid for it 4 x over!) So I called Monex to cancel my contract and was told it ended in February 2014 - great I thought - but...no IT AUTO-RENEWS FOR ANOTHER 4 YEARS, and there is my initial on the page saying that.
Two problems: 1) NO ONE told me it was a lease, and NO ONE told me it AUTO-RENEWED!. They say I owe $1000 + - a lot. The reason I cancelled is because my business is down and I am retiring. I offered them $100 to settle. I stopped payment on any further withdrawals from First Data and Monex on my account. Now we wait and see what happens. Of course I will join any class action. These are unscrupulous contracts designed to catch us all unawares. At the very LEAST they should warn us prior to the contract ending, of how much time is required to get out of the lease (actually 120 days notice in writing PRIOR to the lease ending), but they WANT to catch us out and make money this way so they don't of course.
This report was posted on Ripoff Report on 04/22/2014 05:32 PM and is a permanent record located here: https://www.ripoffreport.com/reports/monex-group/toronto-ontario/monex-group-monex-is-unscrupulous-with-leases-that-go-on-auto-renew-without-warning-toron-1140910. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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