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Pay out London Mint Office debt with their own coins?
edited 3 April at 4:22PM in Praise, Vent & Warnings
8 replies 1K views
Unfortunately, my family member felt for London Mint Office very misleading TV ad, and ordered a coin from them. Judging by the company over 200 million annual profits, the ads are really working well. Have to admit, the authors are skilled psychologists.
This and other forums have seen a lot of indications LMO is fraud or scam. In any case, they are a legit company with a shady business practice, operating on the very edge of the law or may be breaking it. I'm surprised the operation is still going for over 16 yeas in the UK alone. LMO has nothing to do with the Royal Mint, it is a privately owned company, subsidiary of a Norwegian company with similar practice. There is also a Dublin Mint Office, with identical ways of conducting business.
Please refrain from repeating that LMO is a scam, this has been said before and is not why this topic has been created.
No one would deal with LMO if they knew it beforehand.
The question is, what to do AFTER you already signed up for any offering from LMO?
In our case, the family member paid the 2.5 p&p fee of the "free coin" with a bank card (debit, prepaid) at the LMO website.
What we did now, is cancelled the order and the LMO confirmed cancellation in a email. Since the entire LMO website and the customer service seem to be con artists, I have doubts these emails can be a proof of anything later on.
We also called the bank to stop the transaction. Surprisingly, the bank operator could not see the transaction. Neither can we in the card statement. Perhaps, it will be visible later on. There also is no direct debit set up for LMO. Nevertheless, we still blocked the card and were very careful to keep "scam, fraud" as reason to block the card, and issued another one with a different number and code.
If there is indeed no real transaction, then the whole purchase form of the LMO website is phishing to get your post address, name, and perhaps bank card details. Alternatively, this form may collect data not for a payment, but rather for a recurrent payment authorization. Basically, this is giving your banking card to LMO and saying "take how much you want, whenever you want". CPA is more complicated to turn off if the retailer (i.e. LMO) actively refuses to do so, but still possible via your bank.
Currently, I'm worried about the avalanche of coins LMO will send "for review" as part of the "subscription", followed by gigantic bills.
I'm even more concerned about those "red" (I said they are good psychologists) envelopes from "debt collector" agency, originated from another company, not LMO.
As this operation has been going on for decades, has anyone received the debt collector letter? Is this a legit thing, or just another "gotcha" trick to siphon money from law-abiding and generally honest folk like the LMO target demographics (elderly, foreigners, etc) are?
Can anyone tell the complete story of his/her experience getting off the LMO hook?