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Cashbax - Should I take the gamble and go self empolyed with them?
Comments
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BernardBernard wrote: »Ofcourse I have been looking at this thread to see others thoughts - isn't that the whole point of this forum! Am I not allowed to express that I think Cashbax could be a great income opportunity for me. I have been on these forums for years albiet only posting once or twice but I find them a great source of ideas. I have already declared that yes I have now have an interest in Cashbax as I am becoming an introducing agent for them - but whats wrong with that. No smoke or shadows here - I have an interest! Unlike Exposed comments, who has just suddenly registered with Moneysavingsexpert to post his comment, - it sounds he has a major axe to grind! But isnt that the whole point of this forum, so everyone is free to express an opinion. As for DvardysShadows comments "why are you bothering to post here rather than just giving it a go and getting on with your life?" .......Dvardys has made over 10,000 posts on these boards - should'nt it be you who gets on with their life!Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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As is mentioned in the thread below, the people behind Cashbax are an estate agent in Perth, Scotland called Cameron and Co.
This agency acted for me on a rental property that I owned until recently, collecting the rent from the tenant and then paying it into my account. All fine, except that one of the final rental payments before selling the property was kept by Cameron and Co. and not paid on. I have chased for the monies to be paid across many times but of course the messages go un-answered.
For the sake of clarity, there was no discrepancy with any unpaid bills or any form of ambiguity, they simply stole the money. It's not enough to warrant going to court over as my expenses would be more than the money outstanding and so I'm powerless to get the money back as they ignore all of my messages. All of this is backed up with a thorough paper-trail, of me asking time and again for the money and the messages going unanswered.
So in my opinion, the fact that the scheme relies on the contributions coming in (which are less than 100%) to pay for the withdrawals that are being taken out (which are up to 100%), i.e. a Ponzi scheme, and the simple fact that some of the people operating the scheme are thieves, I would suggest that you stay well away!0 -
I've never know anything where everybody wins, this has all the hallmarks of one of those schemes 'whatever title you put on them' that inevitably unfold with a lot of people losing badly. This one seems to have just got a new set of clothes to conceal the underlying scheme. A friend called me yesterday enthusing wildly about this scheme and wanting me to put properties with him. He had a list of parrot fashioned promises of riches and can't lose scenarios he reeled off at which time I realised he hadn't got as much oil in his lamp as I previously thought. I chanced on this this forum whilst trying to find some information about this company to discourage him before he loses all his friends through this. I do hope this forum will help people find the facts on this company before a substantial number of people possibly get hurt, I'm sure there are some people who are monitoring this forum as a way of confirming it's the right move for them, with the wisdom of the regular posters they might remove the rose tinted specs before its too late. The biggest fear is how quickly this could spread in the internet age, schemes like Pyramids and the Ponzi spread exponentially even in the 1920's without this huge communication asset just by word of mouth. By the same token people now have the internet with forums like this to help them find the information they need, that is if they bother to heed or even look.0
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mum2evntess wrote: »You appear to have missed out the part where Mary Percy of Remax Scotland replied to your complaint and found no fault with any agents working within her company. In fact she appears quite taken with the concept of Cashbax. I am involved in Cashbax and can categorically state we are not a pyramid scheme, nor a Ponzi.
What was Mary Percy's reply?
What is your involvement with Cashbax?0 -
Eagerly awaiting the next instalment !Don't lie, thieve, cheat or steal. The Government do not like the competition.
The Lord Giveth and the Government Taketh Away.
I'm sorry, I don't apologise. That's just the way I am. Homer (Simpson)0 -
What a load of !!!!.Per Mare Per Terram0
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mum2evntess wrote: »Please refer your first question to the member named "Exposed". As for the second question, I am an agent.
How much money have you paid (if any) them to become and agent?0 -
Anyone suggest how they will finance the cashback and how long the company will last for.
It's interesting if you go on their reward calculator and enter an amount say you have spent, the cash back amounts look achievableish until you look at the jump from 6 years to 7 years where the amount suddenly jumps by around 500%, on some schemes eg diamond this would mean you would receive your entire money back.
It would be interesting to see how they fund the 100% money back from I'm guessing a retailer paying them circa 30% of the original sale price. They are either banking on the customers cashing in early thus meaning they profit from the difference between the amount the retailer pays them and what they pay out to make their profit or a small estate agency in Scotland can gain investment returns well above what the rest of the investment professionals can.
Their website is strong on content but does not have a lot of actual information so it's clear as mud.
A cynic might suggest the company may well not be around in 7 years time
http://cashbax.co.uk/calculator.asp0 -
Any more first time posters want to join in?0
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