ComplaintsforNet Coins Holdings
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Complaint Details
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Initial Complaint
04/01/2023
- Complaint Type:
- Product Issues
- Status:
- Answered
I sent my crypto back to this wallet to send to another wallet and they shut my account down with my funds. I can't access.Business response
05/01/2023
Good morning. This is our formal response to user **** ******, a former user of the Netcoins cryptocurrency platform who's account we were forced to close.
Netcoins is a registered Money Service Business with Fintrac and a Registered Restricted Dealer with the Provincial Securities Act. As such, we are bound by Securities Law and Regulation of those entities. The cryptocurrency industry has had its share of fraud and scam sites. As such, our regulators have communicated that one of our top obligations is to review withdrawals of cryptocurrency and make sure the destination is a legitimate entity. Netcoins reviewed Mr. ******** withdrawal attempt from December 29 and determined that the destination, based on our previous experience with that website and our knowledge of the industry, is not a safe destination. For the users protection and to abide by the rules and regulations of our registration, we had no choice but to stop the withdrawal.
Upon informing the client of this decision, he became abusive to the level that we never experienced in the history of our company. The language, the slurs, etc. are self explainitory, *** * **** ******** **** ******* ************** ** **** ********* ** ******** ** **** ** *** ** **** ****. As you can see, we had no choice to kick the user off the platform and away from our company. On December 30, the user was told of this decision, that he was allowed to sell his cryptocurrency off back to **** currency and send it back to his bank account. He has been told of this decision numerous times now, and is refusing to agree and still incredibly abusive to staff. On January 3 2023, management of Netcoins discussed this users extraordinary behavior and put a complete phone ban on his number and have blocked his communications to prevent further extreme abuse to staff. Also on January 3, the finance team force sold his cryptocurrency back to **** as the client refused to comply and choose to act in the manner he did. Those funds are in the process of being returned to his bank account, and are expected to be deposited on January 5.This user is not in any way welcome back with our business, *** * ******* ***** ********** ** ** ***** ** *** ** ****.
Initial Complaint
20/12/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
In May 2022, ***************************** ran a promotion to apply for and use their **** debit card. They promised 3% cash back on spend until you had earned $100 in rewards (spend $3,333.34 and get 3% back) and then 1% back on all additional spend.They ****** ** *** *** have not given me the rewards and I have been emailing them since July 2022 and they will not fix it, **** **** **** *** ** *** ***** **** ** **** **** ** **** ***** **** ******** ***** *** ******* **.I want to file a formal complaint to get my rewards. I have emails from Netcoins admitting how much I spent on the card (I have not the card since July 1, 2022 since I realized they were shorting me on rewards) so this is not a case of me still using the card and stuff is delayed or whatever. * *** ******. Will you help me? I have so many dozens of emails I have sent to them it is impossible for me to print them all and attach them. they know exactly who I am.When I went on their ****** page and said I did not have my rewards in full another person commented and I asked if I it had been fixed and netcoins banned me from their ****** page and reported me to ****** for harassment for posting 1 time ever and 1 answering 1 question ever * **** ********* ******** **** * *** * ********** * *** ** ***** *** *** ** ******* ***** **** ***** **** **** **** ** ** ** **** *** *******Business response
17/01/2023
Good evening,This is our formal response to *****************************, a former Netcoins client who has filed complaint ********.** ***** ** *** ******* ****** *** **** **** ** ************* **** ***** **** ******* *** ***** ** ********** ***** *** *** ********** ***** **** ** ***** ** ************* ** ******** *** ** **** ****** ** ******** *** ** ** ***** ******** **** *********** ** ********** *** ** ***** ********* **** ******** **** ** **** ** *** **** ** ****** ********* ** *** ********* *********** *************** **** ** ***** ********* **** ***** *** **** **** * ****** ** ******* *** **** ********** ** ******* ************* ** *** ** ******* ************* ** ********* ********* * ****** ** ** ******** ** ****** ******* **** ******* ** ********** ***** *** ** * ****** *** ******* ************ **** ******* ********** *** ********** ********* ****** **** ** ******** *** **** ********** *** ** **** **** * ****** ******* **** ******* ** ********** ***** *** ** * ****** *** *** ******* ************ **** ******* ********** *** ********** ********* ****** **** ** ******** *** **** ********** *** ** **** **** *** ********* * ****** ******* **** ***** ********** **** ******* ** ** *** ****** ** *** **** ******** *** **** **** ****** *** *** **** ****** ******* ***** * ******* ***** ***** *** ********The 2 remaining (missing) transactions that were never given rewards appear to be settled. These transactions total $90.15 CAD which would yield an expected reward payout of $0.27c CAD at 3%.
The total reward value in CAD that we paid out to this user between the dates the card was in use is $93.46 CAD worth of BTC at a total of ********** ***** with $4.27 CAD missing from the total as outlined in the previous sections.
An anomalous Reward entry was added from the **** system at 2022-08-11 06:00 UTC for the total of ********* *** which at the time of purchase was worth approximately $5.50 CAD, with Bitcoin being approximately $30,500 CAD at the time. Its likely this additional credit was made to reconcile the $4.27 CAD previously seen as missing. The user had no other transactions after 2022-07-02 and therefore was due no payout in August. We have reviewed this clients may times over, and cannot find any errors.
This client has been absolutely abusive, rude, derogatory, and condensing to Netcoins staff in her communications, stating things such as " What is wrong with you? * **** ******* *** **** ******* ********** **** *** *** **** ******* ***** ***** ** ********* ****** *** ** **** ** **** ** ****** **** TELL ME HOW MUCH I HAVE SPENT ON YOUR ******* **** DEBIT CARD IN THE FIRST THREE MONTHS OF HAVING IT. Send this to a manager if you are too incompetent to read."
There are no words to describe this abusive language to staff, and this client is not welcome back on your platform at any time. I have included a sample of her communications with staff as an example of how this client thinks it is ok to speak to staff. I caution all businesses about dealing with her.
Customer response
18/01/2023
Complaint: ********
I am rejecting this response because:the business is not telling the truth and now they have escalated to the criminal code violation of ***** by stealing all the balances in my account in retaliation against me for filing a complaint against them.
Seven months ago when things first were not adding up I contacted them and they claims the missing transactions - of which they admitted to you there are 2 - were not actually missing - which is not true.
***** ********** *** *** ***** ***** *** *** ***** *** *** ******** *** *** ******** **** ** *** ********** *** **** ** ***** ** *** ****** *** **** ******* ** ** ****** * ******* ***** ** *** ******** ********* *** ******* *** ********** ** *** ******* ******** *** **** ********* ******* *** ***** ****** *********** **** * **** **** ******** * *** ******* **** *** ***** ******* **** *** *** ****** ** **** ******* *** ******** *** ******** *** ********* ******* **** *** *** ********* ** **** ************* ******** *** *** ******** ******** **** ** * ******* ***** ** *** ******** ******** ******* **** ********** ******* *** *** ********** ********** **** **** *** **** **** *** ****** **** ******* **** **** *********** **** ********** **** **** **** *** *** ********** ********* ** *** ******* *** **** ** ***** ** ***** *** ** ******* ** * **** ** ********** **** ** ** ***** ******** ** ****** ****** ********** ***** ** ***** **** ******* ********* ** **** ***** * ********* *** *** ************* *** ***** *** ***** *** ******** **** **** ******** ***** ******** ********** ************** **** **** ******** *** **** * ***** ** *** **** * *** **** ******** *** * ******** ** **** ***** ******* ****** **** ****** ** *** ** ** ******* *** ***** *** ** ***** ** *********** *** ****** * ********* ******* **** *** *** **** ***** *** ******** ** *** ** ************ **** ***** ** ***** *** ** ** *** **** ******** ** ********** ********************* *** *** *** ***** ***** *** ** ****** ****** *** ******** **** **** ******* ************* *** ***** ******** ** **** ***** * ****** ***** *** **** ***** ***** *** ** **** ** *** **** *** ********** **** ******** ****** ******** ********** **************
I will do the math for you and you for them once again - their promise was that we could earn $100 in rewards at 3% rewards which requires $3,333.34 spend to obtain $100 in rewards and with my total spend of $3,337.67 which they admitted to less the spend at 3% rewards of $3,333.34=$4.33 at 1%rewards on amounts over the $100/3%= $0.04 so my total rewards under this program should be $100.04 CADFrom the business response to you The total reward value in CAD that we paid out to this user between the dates the card was in use is $93.46 CAD worth of BTC at a total of ********** ****, with $4.27 CAD missing from the total as outlined in the previous sections.
They admit to 93.46+4.27 = 97.73
which is LESS THAN the $100.04 I am owed based on the spend of $3,337.67 which they have also admitted to which is the purpose of filing a complaint against them - to get my missing money.
Netcoins has admitted in their response to you my account does NOT contain the proper dollar value of rewards. Which is why I have been forced to spend dozens of hours over 7 months filing complaints and ******** **** ***** ********** ***** *** ***** *** **** **** ******** ** ** *** ****** ** *** **** ******* ** ***** **** ** ******* **** ************** ***** ** ********* *****.
In retaliation for filing a complaint against them they ***** everything in my account and I have no access anymore ** **** *** ********** ******* ****** *** ** ***** ** ***** *********
So either hand over my money or I will have to file criminal charges with the police.
Sincerely,
*****************************Business response
18/01/2023
Good afternoon.
We stand by our calculations, as mentioned. Numerous individuals at this point have reviewed the rewards for this user to look for any errors, and cannot identify any. This individual is welcome to go the police if she feels differently.
The users account is permanently closed on Netcoins, and she is not welcome back. There is a small amount of rewards accumulated still sitting in her account. She is welcome, at any point, to reach out and request those funds be sold back to **** and sent to her, though any instance of further abuse, beratement, or belittling will not be tolerated by this user in ANY form or circumstance.
Customer response
20/01/2023
Complaint: ********
I am rejecting this response because: the business is mathematically wrong -direct quote from this business - "Numerous individuals at this point have reviewed the rewards for this user to look for any errors,and cannot identify any."
direct quote from this business - "*** * ********* ********* ************ **** **** ***** ***** ******* ****** ** ** ************* ************ ***** ****** *** ***** ***** ***** ** ******** ****** ****** ** ****** *** ** ***"
mathematical fact - 3% of $90.15 is $2.70 CAD NOT 27 cents.
the fact 3% of $100 is $3.00 proves it is ridiculous to claim that 3% of $90.15 is 27 cents. Business is mathematically wrong like I have been saying for 7 months.
When is this company going to learn math? The business' own claims prove my case - I have been ******. That is a fact.
Since the business has forced me to work for them without compensation - I am willing to provide my wallet address through the better business bureau - and once this business has granted me all the rewards I am entitled to per their own program agreement in accordance with mathematical fact - they can transfer my rewards - WIHTOUT taking their regular transfer fee - due to the forced labour obtained through their own errors which they admit multiple of their employees cannot figure out - if they want to avoid further action on my part.
Sincerely,
*****************************Initial Complaint
15/09/2022
- Complaint Type:
- Product Issues
- Status:
- Unanswered
On June 21 2022 I did an online wire transfer from my ***** ***** account to Netcoins which I heard about on a radio ad presenting themselves as the only crypto company authorized for use by CANADIANS Since then I have been going back & forth between them & ***** ***** trying to get access to my funds. Netcoins refused to fund my account with them until I provided a full bank receipt for the transaction & ***** ***** said they are unable to provide that as it was done online rather than in person. After countless phone calls & emails Netcoins have finally told me that they will refund the money MINUS $95 IN FEES so I will only recover $55 of the $150 US that I wired them after they've had the use of it for 3 months! I'm very angry about this & am contacting BBB to see if there is any recourse. I can forward all correspondence via email, not sure how to upload it.
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Customer Complaints Summary
3 total complaints in the last 3 years.
0 complaints closed in the last 12 months.