MONEXgroup Complaints, Reviews, Scam and Fraud Reports

Company Information

Last Updated On: April 22, 2014

MONEXgroup Corporate Contact

Business Name: Money Express POS Solutions
Corporate Address:
31-111A Zenway Blvd
Woodbridge, Ontario L4H 3H9 Canada

Customer Service Contacts

Corp Phone Number: 905-475-1130
Corp Website: monexgroup.com

MONEXgroup Ratings and Reports

Consumer Loss Reports

Reported Losses: $512.86
Average Reported Losses: $512.86

Customer Ratings

There Are Currently No Ratings.
Based On: 1 Review
Number Of Comments: 4

Latest MONEXgroup Complaint Filed

Ripped off

In the month of May,2012, I Ewa Wielopolski the owner of Ellektra Photo 1564556 Ontario Inc. signed a lease to own agreement with Monex EFT/ABM Services for 48 months (lease# 1356524A) In September 2009 I purchased the equipment from Monex for $195.40. I used the equipment for debit transactions.

In July 2012 I closed my business. I notified Monex by telephone advising them that I no longer required their services and wanting to close my account with them. I was instructed to close my batch and someone would call me back. closed my batch on Aug. 13th 2012. I was also told that because I own the equipment, there would not be any additional charges.

In August 2012 Monex took $7.94 from my bank account, then September 2012 $4.92 and an additional $500.00. I telephoned Monex on November 7th 2012 and spoke to Janice S. She said she did not have any record of a $500.00 withdrawal from my account by Monex. I sent her a copy of my bank statement and after seeing the transaction she said someone from Monex will call me back. I did not hear anything from the people at Monex so I called them back leaving several messages at Ext. 258.

On November 12th 2012 I was able to reach a supervisor whose name was Brian. He said there was a $500.00 penalty because I did not return a cancellation form. I explained to him that I did not receive a cancellation form and was not aware that such a form existed. I told him that when I closed the account over the telephone I was told that because I owned the equipment that the would not be any additional charges. He was very rude to me and said I talk too much and he was trained in school not to talk to people like me and when I asked him for his surname he just disconnected.

On November 14th 2012 I received an early cancellation form by mail from Monex showing a $500.00 fee for early cancellation.  The only agreement I signed with Monex was in May 2004 for a 48 month term. I do not have any other agreements with Monex that would warrant any penalty for early cancellation.

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Consumer Comments For MONEXgroup

  • Monex is unscrupulous

    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 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 + – not much compared to some of you posters, but still 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.

  • Hi Ewa,

    I am in a similar situation from Monex and will take them to court, if you are interested in doing the same thing please contact me at marcelojuca@hotmail.com

    Marcelo Juca

    • Hi Marcelo,

      I am in a similar situation. I just sent you an email to your Hotmail account.

      Regards,

      Carrie Leroux

    • I have also been ripped off by MONEX …….They havent even set up service at my business ( 3 months now ) and I have already been charged almost $300 …………for absolutely nothing > Their salespeople lie to you to get you to sign with them , and then they completely ignire any customer service issues. And to top it all off they want $500 to terminate the agreement, even though it hasnt even been set up to process yet. ………….Are nthese people for real?

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