ComplaintsforMonex Deposit Company
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Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
04/19/2024
- Complaint Type:
- Product Issues
- Status:
- Resolved
April 19,20** An inept ************** at Monex has made it impossible for me to get the metal I paid $100,963.00 for on March 18, 20**. A *** driver handed over the gold shipments #1ZRV1805A695851757 and 1ZRV1805A693611091 to a woman using my wife's name and possible ID a mile away from the shipping address. I contacted *** and Monex hunting for my metal. Monex's broker made no attempt to file a claim with *** at that time but asked me to file a police report. I filed a police theft report (#**-2110) on April 6th. On April 9th, Monex finally filed a missing package report with ***.....a delay of five days after the theft. They did not attempt to be proactive, leaving me without my money, metal, any information or a resolution timeline. On April 15th *** closed the case because Monex failed to respond to their requests for information. I've made multiple calls to *** and Monex daily since April 4th when the theft took place. Just today I found out from *** that Monex dropped the ball by not responding to their requests for information so ***'s investigation could move forward and insurance could pay for the loss. Monex made no attempt to keep in touch with *** in order to resolve the problem in a timely manner so the case was closed.Yesterday, at the prodding by me for an update through Security at ***, a new missing package case (#C-0203150659) was opened. Meanwhile Newport ************ have been actively viewing video footage and tracking down the thieves while Monex sits on their hands leaving me without my money and my metal. INEPT Monex.Monex continues with the same mantra, "We can't make you whole with a new shipment until *** solves their case and insurance pays us." Am I to believe Monex has no insurance coverage for "lost" metal that could fulfill their commitment? I feel like a sucker/victim of a poorly run organization! I want to be made whole with a new shipment through **** registered mail now.Business response
04/23/2024
The afternoon of Thursday, April 4, 2024, the customer notified ********************** that he had not received delivery of his metals. Friday, April 5, 2024 signature confirmation of delivery was obtained from the carrier, ***. On communication with the customer, he denied the signature was his or that of any of his family members or agents..
According to *** protocol, Monex, as the shipper, initiated a case with *** concerning the alleged mis-delivery on Tuesday morning April 9, 2024. That investigation, as well as others by relevant state and federal authorities, are currently in progress. Monex has provided all relevant information to assist.Customer response
04/23/2024
There have been no attempts by Monex to proactively give my wife and myself up to date information regarding the progress, or lack of, regarding the investigation/resolution of the theft of bought and paid for gold.
Business response
05/03/2024
According to *** protocol, Monex, as the shipper, initiated a case with *** concerning the alleged mis-delivery on Tuesday morning April 9, 2024. That investigation, as well as others by relevant state and federal authorities, are currently in progress. Monex has provided all relevant information to assist.
Monex must also await the outcome of the investigation.
Customer response
05/07/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
Regards,
***************************
Initial Complaint
06/05/2023
- Complaint Type:
- Delivery Issues
- Status:
- Resolved
Monex has not delivered paid for coins and refusing to give me refund, ,or send me coins. Wire transfer sent May 9th for over $12,700. Shipment lost by **** Monex put claim but will not tell me when this will be resolved. Shipment was insured by Monex. This is causing me personal collateral financial hardship at this time . Either I want the coins I ordered or I want my money returned asap. I did not agree to waiting over a month for delivery and certainly not entering a second month.Business response
06/08/2023
Please note two complaints have been received. The duplicated complaints are referenced below:
Company: Monex Deposit Company
Consumer: Coultet, *****
This e-mail is to notify you that you currently have a new message with BBB in regards to complaint #********.
Company: Monex Deposit Company
Consumer: **************************
This e-mail is to notify you that you currently have a new message with BBB in regards to complaint #********.
Please delete complaint #******** as it is a duplicate. Monex will submit a reply for complaint #******** with spelling of the customer name that matches our in house records.Thank you,
*****************************
Monex
*****************************
Business response
06/08/2023
Monex contacted *** and a case was opened regarding the lost shipment. Unfortunately, *** was unable to provide Monex with further information or resolution until their investigation was complete. The *** investigation is now completed and the customer has been notified a new shipment will be sent
Thank you,
Monex.
Customer response
06/09/2023
I want the case to stay open until I receive the coins. I was told one again I would get them 6/9/23 and again the shipment was delayed. The email from *** said when they receive the coins from MONEX they would issue a new estimated arrival.
Customer response
08/30/2023
ID#: ******** I would like to change my review to say that MONEX did a good job with serving my coin purchase and it was an issue with *** not responding in a timely manner when *** lost the shipment. MONEX followed their normal protocols and were always polite, especially the sales representative NAV.Initial Complaint
08/11/2022
- Complaint Type:
- Product Issues
- Status:
- Resolved
I bought **** ounces of Silver from them June 23,2022. They processed my order out of ******* and sent me a *** tracking, actually 2 tracking numbers. Couple days later *** sends me. An e-mail stating one *** was ripped open a nothing in it and that the other box was damaged and that they would Redbox and send it. It arrived here a week later missing one 100 oz. Bar. Monex rep ** said we should file a claim and so my wife called *** and *** told she couldnt open another claim that it would be covered under original claim. This is getting lengthy, the point is we received the one 100 oz. Bar a week or so later but we are still out 500 oz. Of silver and When I call or email ** he says that *** hasnt paid so Im just going to have to wait. I feel that I have waited way more than I should have, I bought silver from monex not ***. NCAN YOU PLEASE HELP US!Business response
08/24/2022
Monex has received and appreciates the comments Mr. *********** provided regarding his recent shipping experience with *** and the *** claim delaying the arrival of his shipment. We strive to give all customers the Monex standard of excellence, **************** Monex account representative has verified his receipt of the full purchase.Customer response
08/24/2022
Better Business Bureau:
We finally received the 2nd shipment, i don't know if your inquiry to monex made this happen or if *** finally compensated them. We were never notified of the outcome but received an email that it was on its way.None the less we have the product we purchased it took 60 days which i think was less than prompt service so we will not be doing business with them again, nor would i recommend them.thank you,
***************
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Customer Complaints Summary
3 total complaints in the last 3 years.
1 complaints closed in the last 12 months.