Lyoness cashback card/scam?

emurph

Hi im a first time poster, i usually get an answer to any questions by searching the forum but this 'lyoness cashback card' has not really been discussed much. I went to a seminar last night as a friend highly recommened it, there definately seems to be something good about it although if something seems too good to be true it usually is. Has anyone first hand experience with this card?? would they recommened it or advise to stay well clear? Any comments would be a great help. Thanks

moflint

The problem with multi-level marketing as I see it is that once the market is saturated (and there is always a saturation point with anything) those who buy in are just buying into 'the dream' and end up loosing money. However with Lyoness in the worst case scenario you will only have to keep shopping (using the Lyoness card) until your cashback reaches your investment for it to have cost you nothing... except of course for your time and energy. So I don't think it's a big risk from a financial perspective.

greystone44

I've seen a few forum comments where people think Lyoness is a scam, a pyramid scheme or MLM. Well, I can assure you it is none of these. Any money you put into Lyoness to start your business is merely a down-payment for future purchases. It is not a registration fee or franchise fee. Nor is it an investment of any kind, as this implies that there is a risk attached, In fact, there is no risk whatsoever, as you can get all your money back any time you wish to leave the programme. Lyoness have done a lot of good charity work through their Child & Family Foundation since the business started in 2003, they now operate in 35 countries and have over 2 million members. Check out Top-Cashback.net for further information.

useless_git_requires_wife

greystone44 wrote: »

In fact, there is no risk whatsoever, as you can get all your money back any time you wish to leave the programme.

What if the 'programme' collapses?

ashleypride

Quack, quack

icanseeclearly

Hello all,
I am a first time poster that was approached as a potential investor on Thursday this week by a friend that wanted me to invest.
anyways to cut a long story short I decided based on the brochure and conversation with him to research the information.
to date I have received replies from Halfords,ASDA,BP and Boots.
So far they have said that the are not participating and have no plans to participate in future. Boots and halfords pointed to the fact that they have their own loyalty schemes that are running well and offer great value for money.(all head office telephone replies).
I have requested from TUV a detailed explaination of their appraisal on Lyoness by E-Mail and am awaiting a response.
I suspect after viewing their modus operandai that the certification is not an endorsement of their business model as was described to me.
If as the scheme seems to warrant I sign up 4 people to gain my (for want of a better word) 'Commission' it has the ring of Pyramid about it. If I have to advise fellow business people that trust me I have to be sure that what I get them to invest in is not another 'madoff' with the money Ponzi scheme.

icanseeclearly

If it is not a scam then how come all the major high street names that I contacted say that they know nothing about it and point to their own loyalty schemes which have better rates.
I took the time to e-mail SUD TUV and they have NOT issued a certification of a business model of this type or would they.
IF you E-Mail them they will send you a certification search.
I spent 2 hours trying all the different searches that i could think of including 'Lyoness','Lyoness loyalty card','reward card'etc; to no avail.
Why would they lie?
why would they mislead investors?
QUACK!!!!

money24seven

I have read reviews on Lyoness and am convinced it is a legitimate company with an interesting and rewarding concept. It is now 10 years old and operates in 44 countries.

Elaine0123

Lyoness is a scam on an international and industrial scale. It's legitimate guise is it's cash back card/shopping community which, in itself, is not illegal. However, the company actually makes its money from getting members to become 'premium members'/business partners for a fee of around £1.8K. This is sold as an investment opportunity.

To realise any returns (which turn out to be tiny), you have to suck in, sorry... Recruit your family and friends. Australia's national body ACCC (Consumer and Competitions Commission) recently announced they are initiating court procedings against them for operating an illegal pyramid scheme.

As a new user i can't post links but i can direct you to the following for further reading: news.com.au/finance/business/lyoness-cashback-loyalty-card-operator

Wikipedia Lyoness article: see legality and controvery sections:
wiki/Lyoness

Swiss newspaper article about it is translated on Coroporatefraudswatch blogspot (google this with Lyoness)

Please stay away people!!