Newest Review: ... further instruction from me. All they needed were bank details to take the £1. These were duly provided. Imagine my shock and distress... more
DO NOT HAVE ANY DEALINGS WITH THE MONEY CLUB IF YOU ARE UNEMPLOYED OR ON A LOW INCOME.
Member Name: KeithPrince
Disadvantages: Unscrupulous and unethical trading methods
I am currently in receipt of Job Seekers Allowance. A few weeks ago a cold call was made to my home by The Money Club. The caller said The Money Club was offering a four week trial membership period for just £1, as opposed to the normal price of £99. They made it sound very tempting to someone like myself, living on £65.45 a week. They asked they be given a chance to show just what substantial savings they could make for me on consumer items compared with high street prices. At the end of the four-week period, they said, I was under no obligation to take up full membership at £99 (minus the £1) and in any case I could rest assured that they could not deduct the £98 from my bank without further instruction from me. All they needed were bank details to take the £1. These were duly provided.
Imagine my shock and distress to discover that they had taken £98 from my bank account without my permission. When I telephoned and spoke to The Money Club, a woman called Aneela said she was cancelling my membership and promised a refund of the £98 although I would have to write in to their head office in Slough for this.
I duly received an e-mail pointing out that under their terms, which I had never seen as no written contract was ever received from The Money Club, once deducted no monies could be returned in part or whole. Although my membership had been cancelled bizarrely I would still be eligible to use their services to get items at bargain prices for the remainder of the year - in other words I was a member whether I liked it or not.
Clearly The Money Club targeted me because I was unemployed and therefore could reasonably be assumed to be vulnerable to their sales pitch of making substantial savings on items I would otherwise be unable to afford.
The reason The Money Club did not wait until the four weeks trial to end before taking my £98 was precisely in case I cancelled at the end of it.
They also timed their debit to coincide with the date my fortnightly Job Seekers Allowance was paid in (Tuesday 12 October), the only day that they could be sure I would have enough money in my account to cover their withdrawal. If they had waited until the end of the four weeks then I might have spent some, as I would have done on things like food, fares and looking for work.
I now cannot pay my water bill and Thames Water are threatening legal action.
It also brings up serious concerns over a possible breach of the 1998 Data Protection Act - how did the company get my details? I have never had any dealings with them in the past, or know of anyone who has.
This demonstrates the old adage that if something sounds to good to be true - it usually is. I would not want anyone else to suffer at the hands of The Money Club as I have. The Money Club is expensive and their sales methods are decidedly unethical. If you are poor or on benefits avoid them like plague they are just after your money and will say anything to get it - no matter how little of it you have.
Summary: If this company calls you put the phone down immediately!