ComplaintsforMONEXgroup

• Initial Complaint

  06/12/2023

  Complaint Type:

  Order Issues

  Status:

  Unresolved

  More info

  Merchant #************ monex # *****

  We signed for 5 years contract for the merchant services with Monex ******* Nov2018. One years later we know we were signed 3 years for the merchant machines rental with ***** **** and and 3 years contract with processing services with *****. We didn’t know anything about that and no one told us about that. So we decided to cancelled the contract but with the huge amount for the penalty and because with the poor English skill , we can’t argue with them about that so we have to accept that and wait for the contract done in 5 years .On Nov 2023. I called to talk with them and told them to close our account because the contract is done and the business is closed But now they said our contract will automatically renew for 6 months, and if they close our account now we have to pay $2800.88 . That is unacceptable. When we signed the contract, they told us no cancellation fee , no hidden fee and nobody told us the lease will automatically renew without any inform to us. We can’t accept that amount to close our account, we request with no any penalty to close because the contract is done.

  Business response

  22/12/2023

  The merchant was provided with all agreements via Docusign to which they reviewed and executed. The allegation that the merchant was never provided them or understood what they were signing is categorically false. As a sophisticated business owner, they would have entered into various agreements with all of their vendors and suppliers throughout their years in business. MONEXgroup honours and fulfills all of our agreements with suppliers, vendors and clients and reasonably expect the same in return. When an agreement is broken prematurely then we incur financial losses as a direct result. 

  Customer response

  22/12/2023

  
  Complaint: ********
  
  I am rejecting this response because:

  the contract I had sign with lot of hidden facts then the sale representative doesn’t told me.even the auto renew for 6 months I didn’t get any inform before the renewal.  
  I e-signed all the documents but I didn’t know the terms and conditions document and didn’t receive it later by mail from Monex. And I didn’t sign on that document . I think if you were not given the Terms and Conditions at the time of execution of the Monex Equipment Service Agreement, then you should not be held to have agreed to its content. I also asked for the  detailed breakdown for the amount of $3867.19 but no just show how much I have to pay. I know that the early termination fee is about $350-$500 . 

  
  

  Business response

  11/01/2024

  Again, the merchant was provided with all agreements via Docusign to which they reviewed and executed. The allegation that the merchant was never provided them or understood what they were signing is categorically false. As a sophisticated business owner, they would have entered into various agreements with all of their vendors and suppliers throughout their years in business. MONEXgroup honours and fulfills all of our agreements with suppliers, vendors and clients and reasonably expect the same in return. When an agreement is broken prematurely then we incur financial losses as a direct result. 

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩