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

LRDB

The silence, failure, inability, or unwillingness of those advocating this system to clarify what was asked in comment 52 is truly deafening. That tells me all I need to know with regard to the veracity of their claims.

ILW

Any busienss that relies on 20 to 30% yearly investment returns for at least 7 years on the trot is very unlikely to survive. I would suspect that the directors will take a nice salary out before it all falls over though.

CapJ

Here is the killer argument - lending, even on mortgages is not risk free. Prime mortgages (low risk) have interest rates of approximately 4-6% for new lending. So if Forex trading with an interest rate of 4% a month is truly so risk free, how come all the banks with all their millions and super clever traders don't put all their money into Forex instead of just a small part?

mitch161

SCAM SCAM SCAM SCAM SCAM

oh and did i say scam...

they are selling this to businesses as a loyalty card replacement. yet businesses want a system where any points/loyalty £ ends up being spent with them again,

EG tesco clubcard -> tesco grocery vouchers

tesco only cost 1% purchase as points to the card .. On average its total costs are 1.5% of sales for admin, postage and printing of vouchers keyfobs. it would be 2% but its reduced as a quater of points get transfered back into tesco purchases.

so going to tesco and saying we have a proposition to offer you a loyalty system where if people buy from you we will charge you X amount. and we then give the customer 100% of the purchase price back

SERIOUSLY FLAWED
from a loyalty replacement maximum a shop would offer cashbax as its fee would be 2% but as a advertisig rate worth more to a company so offering upto 10% yes. but companies want some kind of gurantees.

signing into agreements for £5m without knowing what they will receive in return is unheard of.

no company would just sign up to a un known business without some guarantees. this is why most companies only deal with established companies for advertising and also do it all inhouse.

companies would only agree on a freshly established business on a payment per customer option.. which is what most quidco and other cashback companies do.... lump sum up front no way.

wheres the advertising platform?
if i was a customer where can i see the products i can buy cheap. wheres the shops that i can visit.

its a scam

its 2 guys in a shed selling empty prepayment credit cards for £10 and false promises that you will get money back through savings..

those savings only come when businesses jump on board.. and businesses wont jump on board with cashbax business plan

the two guys in a garden shed will just make a mint from selling prepayment mastercards and tell people to go to retailers asking for £5m of sales.. pfft. businesses like this... no one just employ's any old willy nilly person to deal with big accounts in milions. deals like that are normally done with CEO's of companies involved not a newly appointed sales leader recently receiving JSA.

any affiliate/ sales leader would only get small independant shops to believe the scheme is viable.. small independants dont have much scope or budget. so no chance of making 80k

how can a new business without any shops already onboard quote 80k seriously!!

if you had a retail chain and a sales leader from a brand new company came in pitching for £5m deal without showing how many customers would regularly shop with them and saying the money was upfront... pfft youd be laughed at.

pay per clicks and pay per receipt idea's are better

mitch161

CapJ wrote: »

Here is the killer argument - lending, even on mortgages is not risk free. Prime mortgages (low risk) have interest rates of approximately 4-6% for new lending. So if Forex trading with an interest rate of 4% a month is truly so risk free, how come all the banks with all their millions and super clever traders don't put all their money into Forex instead of just a small part?

they dont put THEIR money on the stocks/currency markets. they put YOUR money on them.

where do you think the money disapeared to in northern rock??

there is major money to be made on the markets but its never risk free,

they dont know what the currency will do next month so they cant GUARANTEE fixed 4% income each month.

if it truly was risk free i would get a 0% interest 12 month creditcard and max it out. put it in the markets and at end of month pay the bill and do the same following month. seriously guys.. SCAMS this thread is scam central.

i know, ill set up a website offering people jobs on commission only without salery. training involves watching a youtube video . and then charging people £10 to receive a empty credit card.

then with my £10 from every sucker id buy a plane ticket. and then due to the fact i wrote down all the credit card numbers befor posting them to suckers.. id go to paypal and max out each mastercard to my paypal account.. tranfer it 100 times to other paypal accounts to hide my tracks and then withdraw it to a non tracable prepayment mastercard. then jet off to the sun with £100,000's o ur suckers money leaving you with the bills as you are the registered owner of the credit card

CapJ

mitch161 wrote: »

they dont put THEIR money on the stocks/currency markets. they put YOUR money on them.

where do you think the money disapeared to in northern rock??

Not really relevant but then what you've written above is both irrelevant and incorrect - Actually you are making a common mistake. You lend the bank money and it is their money (though they owe you the equivalent amount). That's why they pay you interest. That is also why in banks can increase the money supply by relending the same money out several times

Shadow_Jam

If the figures were true maybe Greece should get in on this action.

Or maybe they did and that's the problem.

At the rate these Cashbax "agents" are crawling out the woodwork it would look like they have nothing better to do than try and convince a bunch of sceptics.

ILW

4% per month is complete dreamland over and extended period. It is just as likely to lose that amount.

mitch161

cash box promised to put funds onto mastercard you registerd and they sent you "to spend any time you want"
and they can put your money on the markets to increase its worth, the longer you dond spend the more you get.

hmmm.. but its on a prepayment credit card registered to you. so how can they then be spending it on FOREX/trading.

in know how .. i was just saying.

next they say they make money from the advertising fee, the admin fee the trading etc etc..

well these payment sceme has more holes then swiss cheese... their increasing funding idea's has more arms then a swiss army knife.

their banks and company details hare hidden behind more international red tape then a swiss bank.


and in a few years when people have been conned for falling for it. alot of people will be SWissed off lol

mitch161

and lastly being a sales rep for them going into businesses to gain business relations. SERIOUSLY

they would let a unknown employee of their manage accounts.
if they have the time to talk through the colleague the brief of what they want. train him to market it as they want. word it blah blah blah.. and they say these contracts are worth millions.. seriously if any of this were true they would send their own CEO into the meeting.

what this is, is that when it all falls flat the only contact point the retailer has is the self employed sucker asked to negociate a deal, he will become liable for the millions of pound refund as he is classed as "a partner".

i would never deal with being a sales advisor/negociator to a company i have never met face to face.

its we well played scheme where it loks like they have tried to cover their tracks leaving suckers responsible for consequences, but its too elaborat to be a feasable and workkable business model