MSE News: Rpoints & Cashbackkings on verge of going bust

jules888

R points have got worse over the years.I switched to quidco yrs ago as their cashback was nearly always better and have earned 1600 pounds in cashback,a lot of money!
Only used r points for daily cashback clicks,which was down to one.So only owed a pound or so.Feel sorry for others owed a lot more.Gets you worried about other sites.I always get the cash asap.

kad1

thank the Lord I redeemed the money I had with CBK a few weeks ago! I hadn't even been aware of this dreadful issue until just a frw mins ago reading through the newsletter. I'm not sure what planet i've been on! Sympathies to you guys who have lost money

thisuseridistakenagain

I've been gathering money in there for three years because they always said if you got to 1000 points you got a bonus.

I'm gutted. Was planning to buy xmas prezzies with that.

Didn't have a clue these companies were going down the pan.

Probably best not to suggest that something is only £3 with cash back from now on and just say Its £5 but you could maybe get £2 back if your lucky.

Boooooooooooooooooooooooooooooooo!

JohnNewark

Mad as hell about this. We had £250 ready to redeem and have now lost it (Happy Christmas Richard Yelland!). There is no real information just some bleatings from Yelland about his former Director colleagues. They should have been sorting out the company not pinging each other with emails.....inappropriate conduct for any Director. At least provide the name and address of the receiver so we can send in a claim.
These guys should not be allowed to own and direct businesses in the future.

oakhouse13

As long as you are genuine (and not competitors posting to make cashbackkings and rpoints look worse?) that is absolutely awful and I can imagine a lot of people are in the same position as you.

Those of you who have lost money, please consider complaining to Trading Standards under the Consumer Protection Regulations. In my completely untrained view, I don't think that if cashback was a consideration in taking out a contract, which would be the case the way Martin Lewis promotes it, traders and their advertising, marketing and agents can also say that it is not part of the contract and you are not getting it after all. Either the offer is there and you take it into account which it clearly is with cashback, or it isn't and it should not be promoted.

Has cashback ever been tested in court? The impression I have is that it has a dreadful reputation with Trading Standards mainly from mobile phone cashback deals.

There are lengthy threads on MSE about Crown Currency Exchange which went into administration in October. It would be nice if some of the experts on that thread could help this one out with their investigative skills.

From reading that thread I've discovered London Gazette - this seems to be where bad news is posted when companies go bust. The notice about rpoints is here

http://www.london-gazette.co.uk/issues/59603/notices/1245605/all=rpoints

I doubt we will see the level of obfuscation and deception in pricing in 2011 that 2010 will be remembered for by many customers caught by failing cashback and foreign exchange websites.

bristolleedsfan

oakhouse13 wrote: »

As long as you are genuine (and not competitors posting to make cashbackkings and rpoints look worse?) that is absolutely awful and I can imagine a lot of people are in the same position as you.

.

Posts here from long established R-Points group members who are potentially losing not small sums of money.

http://www.rpoints.com/bb/viewtopic.php?t=1213531&postdays=0&postorder=asc&start=15

PhiltheBear

JohnNewark wrote: »

Mad as hell about this. We had £250 ready to redeem and have now lost it (Happy Christmas Richard Yelland!). There is no real information just some bleatings from Yelland about his former Director colleagues. They should have been sorting out the company not pinging each other with emails.....inappropriate conduct for any Director. At least provide the name and address of the receiver so we can send in a claim.
These guys should not be allowed to own and direct businesses in the future.

Check out imutual plc. Seems Yelland is already in business running the same thing over again.

thor

Wasn't there grumblings that this could happen 3 or 4 months ago?
I seem to remember reading somewhere(perhaps even in mse) that something was amiss and that rpoints at least was under new ownership. This was causing quite a panic at the time.
It was due to this that I decided to redeem my balance there and pulled out(succesfully) the 70 odd quid in my account.
I'm sure I read about this before because otherwise I would have left my money until it got to £100.

Crabman

PhiltheBear wrote: »

Check out imutual plc. Seems Yelland is already in business running the same thing over again.

Does anyone know where Ian Wells is these days?

He has a lot to answer for, it would seem

oakhouse13

http://www.london-gazette.co.uk/issues/all=rpoints/start=1

There should news today on this.

Dooba Investments II Limited, c/o Commercial Estate Group Limited, Sloan Square House, 1 Holbein Place, London SW1W 8NS, claiming to be a Creditor of the Company, will be heard at the Royal Courts of Justice, Strand, London WC2A 2LL, on 24 November 2010, at 10.30 am (or as soon thereafter as the Petition can be heard).