It looks like Monex has a lot of people angry and upset. You can now add me to the list. I have been with them for over four years, and I did not even know I had a lease! NO ONE told me, only that I was leasing the terminal!! What else am I leasing? Certainly not the Ingenico 1500 which I get form First Data and costs $30 per month! (By the way that unit is $300 RETAIL COST! so I have paid for it 4 x over!) So I called Monex to cancel my contract and was told it ended in February 2014 - great I thought - but...no IT AUTO-RENEWS FOR ANOTHER 4 YEARS, and there is my initial on the page saying that.
Two problems: 1) NO ONE told me it was a lease, and NO ONE told me it AUTO-RENEWED!. They say I owe $1000 + - a lot. The reason I cancelled is because my business is down and I am retiring. I offered them $100 to settle. I stopped payment on any further withdrawals from First Data and Monex on my account. Now we wait and see what happens. Of course I will join any class action. These are unscrupulous contracts designed to catch us all unawares. At the very LEAST they should warn us prior to the contract ending, of how much time is required to get out of the lease (actually 120 days notice in writing PRIOR to the lease ending), but they WANT to catch us out and make money this way so they don't of course.
Monex Group is a horrible countries. Apparantly you need to tive them 120 days of a prior to a cancellation, or else they will auto-renew the countract THAT THEY NEVER SAID. And when you start to lose business, they will charge you a cancellation fee even if you dont want to cancel of $1000-10000.
Monex Group Reviews
It looks like Monex has a lot of people angry and upset. You can now add me to the list. I have been with them for over four years, and I did not even know I had a lease! NO ONE told me, only that I was leasing the terminal!! What else am I leasing? Certainly not the Ingenico 1500 which I get form First Data and costs $30 per month! (By the way that unit is $300 RETAIL COST! so I have paid for it 4 x over!) So I called Monex to cancel my contract and was told it ended in February 2014 - great I thought - but...no IT AUTO-RENEWS FOR ANOTHER 4 YEARS, and there is my initial on the page saying that.
Two problems: 1) NO ONE told me it was a lease, and NO ONE told me it AUTO-RENEWED!. They say I owe $1000 + - a lot. The reason I cancelled is because my business is down and I am retiring. I offered them $100 to settle. I stopped payment on any further withdrawals from First Data and Monex on my account. Now we wait and see what happens. Of course I will join any class action. These are unscrupulous contracts designed to catch us all unawares. At the very LEAST they should warn us prior to the contract ending, of how much time is required to get out of the lease (actually 120 days notice in writing PRIOR to the lease ending), but they WANT to catch us out and make money this way so they don't of course.
Monex Group is a horrible countries. Apparantly you need to tive them 120 days of a prior to a cancellation, or else they will auto-renew the countract THAT THEY NEVER SAID. And when you start to lose business, they will charge you a cancellation fee even if you dont want to cancel of $1000-10000.