Cashbax - Should I take the gamble and go self empolyed with them?

wheresmyfuture · 3 March 2011 at 6:51PM

Hi, this is my first post so if it's not in the right area or if i'm doing anything out of place, please let me know.

I am currently out of work and on my job search I discovered Cashbax. They are looking for Introducing Agent, Team Leaders and Regional Agents. The role I've applied for was the Introducing Agent (free to join). This is a self empolyed job with an OTE of £80k.

The reason for me posting is because in an ideal situation you'd be able to research a company and see the bad and good points within a company. This is a new concept and there's little on the internet about them. I've worked in companies before being self employed and not earnt a penny after months of work, I really dont want to fall into this trap again.

Does anyone know of anything about this company??

I've sat down with these guys and had them explain the ins and outs of the concept, to me it looks legitimate. I can't see any flaws and it sounds perfect, but there are still alarm bells ringing in the back of my head.

They state it's "the next best thing", I really hope it is and ideally it's the right opportunity at the right time for me.

"If you could buy a property, product or service and receive up to 100% of your money back at no extra cost – would you be interested?"

Sounds too good to be true, but I've seen the maths and believe they can do it.

I'm going into this with a leap of faith, so any more info would be greatfully appreciated.

Many Thanks!

somethingcorporate · 3 March 2011 at 8:39PM

If it sounds too good to be true, invariably it is.

Comyface · 3 March 2011 at 8:57PM

Is it a Pyramid scheme?

hcb42 · 3 March 2011 at 9:06PM

it makes me suspicious...

DVardysShadow · 3 March 2011 at 9:53PM

If it gives anything near 100% cash back, it will be a Ponzi scheme. I have not read the business method, I have not done the maths, you only need to read the claim of up to 100% cash back to know for a cert it is a Ponzi. It probably has buying and selling of anything tacked on to make it either legal or look legal, but strip this away and you will find a Ponzi underneath.

Prediction: I will be attacked for what I have said by some 1 post wonders [or at least people who have registered after the time stamp of this post and made a token effort to look real] - for criticising without even having looked. But it is the old 'if it looks too good to be true it will be too good to be true'.

Wheresmyfuture, you may make money out of this, if people don't see through it and it takes off. But if you do make money, you should know that this is going to end with people losing a lot of their money when this becomes a public scandal.

Russe11 · 3 March 2011 at 10:04PM

Good luck with reaching your target to get 80k

Emmzi · 3 March 2011 at 10:38PM

I cannot for the life of me see how this works as a franchise model or a self employed basis so I don't get what the "job" is.

http://cashbax.co.uk/index.asp

It's a cashback scheme on random purchases. It hasn't launched yet and yet they have heaps of testimonials. You can probably make money selling it to people with products to sell but if you did it commission only self employed for an unproven product you'd be nuts. There's no way of judging OTE as it is too earlt for anyone to have actually earned anything.

Um.. no. Looks employed not self employed to me and far too early days to say if it is viable.

Hold out for a proper job.

Jowo_2 · 4 March 2011 at 10:00AM

The domain name is registered to Cameron & Co Ltd which was incorporated as a limited company, according to the Companies House webcheck service, in Oct 09.

http://www.cameronandco.co.uk/aboutus.html

When I get a job, I like to be paid £x per hour for x duties with x job title. I'm old fashioned that way.

cgk1 · 4 March 2011 at 11:03AM

The devil is in the detail, if you use the buyer's calculator, you can get 100% back of the purchase price but only after you have been a member for seven years. In the first year, you'd get back £10.08 on a spend of £100.

http://cashbax.co.uk/calculator.asp#rewardPayment

The job here seems to be to get companies to sign up to the card system - I don't think it's a scam but rather a poorly thought out attempt to take on Quidco and other cashback sites but via the high street. It's simply just another loyalty scheme. So to the Op, I think it's legitimate but ultimately a waste of your time because you'll struggle to convince any retailers to take the equipment. It makes sense because of the different in overheads for companies to co-operate with the cashback sites, the numbers are different on the high-street and I can't see how this makes any sense.

Browntoa · 4 March 2011 at 11:12AM

quidco have someting already where certain stores give cashback if you register your debit/credit cards with them

not exactly been a big rush of retailers joining up

ashleypride · 4 March 2011 at 8:06PM

wheresmyfuture wrote: »

Sounds too good to be true, but I've seen the maths and believe they can do it.

Care to explain the maths? It doesn't add up at all, the year on year payouts can only happen if there is enough new business coming in, as soon as there isn't it will collapse.

Cashbax - Should I take the gamble and go self empolyed with them?

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