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Optionetics money back guarantee?

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Tokolosh

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Hi has anyone tried to get their money back under the optonetics guarrantee, and were you successful at your first attempt. i attended the first morning of the two day seminar, where i was under the impression that by returning all their material i would immediately be refunded my money.I was told there would be a no question refund. Three weeks have gone by and no money has appeared.
I hope this has a happy ending
Thanks Tokolosh
 
Re: optionetics money back guarrantee?


Hi Tokolosh - I did the 2 day course a few years ago and I think you had to hand the material back in by a certain time on that first morning. But things might have changed. If you still have your receipt, have a look to see if it has some fine print on it with conditions for the refund.

That's pretty tough though - they've taken the money and material - and you didn't get to do the course. Even if there was a condition, surely they should have informed you it was too late before accepting your cancellation and receiving the material back from you. Even if they have a policy where you are not entitled to the refund, I would have thought they should at least give you the material back and allow you all the benefits of attending the seminars for which you have paid.

I wonder if the fact that they took your material back was in essence agreeing to your refund. It might be a question to ask a lawyer if it comes to that.

Do they still have an Australian office? Ask them how long does it normally take to process your refund. If they fob you off and won't give you answers, it might pay to get it touch with consumer affairs and put in a complaint. And surely, they can't expect to keep your money and the product.

Yes, I hope it has a happy ending for you
 
Hi Sails, i took the goods back at the agreed time and was given a receipt for the goods being whole and in good condition(unopened in fact) and was told the money would be in my bank in a fortnight.Will contact them on Monday and find out what is happening.
I hope they play ball. I was given a written and verbal guarrantee of money back if i decided the course was not for me.
Thanks Toko
 
Yes, I would say you need to get on to them quickly to find out what's causing the delay. Hopefully you won't get the runaround. Hang on to your paperwork in case it's necessary.

Anyway, good luck with it and let us know how you get on...
 

Tokolosh, I hear this all the time. It's what generally happens when you buy from seminar sellers and wealth creation spruikers. Not only do they not deliver but they don't honour their guarantees.

To get your money back, you got to be tough with them and maybe nasty. Go to their office and confront them in person! Give them a deadline and say that if you don't see your refund by then, you will report them to appropriate consumer protection authorities. I think you should now report them to the Office of Fair Trading. I would if I didn't get my money back in 3 weeks. If they still won't budge, threaten them that you will discuss your story with Today Tonight of how they mislead clients.

Let me know how you go. And good luck.
 
Hi Kam75, yeah mate Today tonight and a current affair are definitely on the cards as is talkback radio. I will advise them that if they dont honour their guarrantee they will get a lot of advertising they most probably wont like. Then consumer affairs. I hope common sense prevails....
Thanks
Toko
 
Hi Tokolosh,

If you don't mind me asking, how much are you out of pocket?
 
Tokolosh said:
Hi Eutz.......$3995..but dont tell everyone.......i feel stupid.
Click to expand...

Don't worry Tokolosh - looks like it's still the same price as a few years ago. And I know how convincing their marketing is...

Funny thing was, we went with another couple to their free night and we had already decided we wouldn't be buying anything. But our friends got so excited and signed up and then they talked us into it. They did change their minds later and got their money back. But that was a few years ago, so might be different systems now.
 
Hi Sails. i contacted optionetics today, and got an email saying there had been a technical hitch and they were sorryfor the delay. Tomorrow i will tell them they have till the end of the week to repay me. After that i will tell them i have approached the media, who are chomping at the bit to run the story. i have read the back of the contract,,,and apparently when i signed up i agreed not to take any legal action agaisnt the company. not sure if that would hold up in a court of law.
i'll keep you posted
Toko
 
Tokolosh said:
Hi Eutz.......$3995..but dont tell everyone.......i feel stupid.
Click to expand...

hi
i wouldn't feel to bad
have a thought for the ones who coughed up $5000 for 3 dvd's on how to trade a put spread from another aussie options spruiker!! with no return policy at all
 
Hi Jackson8, i guess what hurts is the lies......from the fat american salesman.......been married twenty five years......absolutely guarrantee no questions asked return of your money if you are not happy.......for whatever reason. Do not buy a used car off this man...and the written guarrantee.....one hundred percent money back guarrantee. Anyhow see what tomorrow brings
Toko
 
Mate tell them you will go to the police and report them for fraud. It is like a cheque, if your cheque bounces and it was a genuaine accident they look into tyour history etc to see if this thing happens regularly, if it is a regular occurence then more than likely the individual will be charged with fraud.

If Optionetics promise you a refund under whatever conditions and they have not returned it in the time frame a complaint to police who can investigate whether this sort of thing occurs regualr like, if it does then they risk fraud related charges, becasue it becomes clear that their pattern of behaviour indicates they had no intention of honouring the agreement in the first place.

The may hold your money in some sort of investment vehicle. Don't forget ask them for the return of the principal and also any money they have made from the principal

A breach of contract is just not a civil matter if as the above is true. By the way, don't ever use Statute law when dealing with them. Use common law and nail their butts to the wall.
 
Hey Kotim, thanks for the ideas........this might even turn out to be fun )
Toko
 
I went in and got a refund recently quite easily - only one question was asked (what was my reason) and was explained the refund would take up to a month. I don't think its as bad as it seems however understand your concern as it is a large sum of money.

Keep us posted either way.
 
Tokolosh – don’t sweat too much and try to avoid escalating the issue, it may be delayed but you will get it. I have no love for these types of companies but the money-back guarantee offer is a really important part of their sales and marketing and there is no way they will not honour it, especially a big global concern like Optionetics. They have way too much to lose in the way of potential lost credibility and bad publicity (which this thread has already started). If you do get fed up waiting then consumer affairs in your state should be your first call.
 
Hi Timmy, the full amount arrived in my account today. Love happy endings.
Thanks to all
Toko
 
Independent magazine Choice has just reviewed options trading seminars and the promises they make - including Optionetics - check out the choice website and you can add comments there too.
 
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