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  1. #1

    Moneywayz: scam or ligit?

    Alright, I got an ad in the mail today for moneywayz.com and decided to fill out the info at their website. About 2 hours later I got a phonecall and chatted with a person at moneywayz.com for about 30 minutes. What they do is have clients sign up and then advertise for them. Their products are mortgagewayz, healthwayz, travelwayz, taxwayz, shopwayz, and moneywayz. Basically they say that you get a fixed amount or a commision based on what is bought by other people through your onw website that they give you.

    The start up package is $1,770...wow...
    It sounded good, but that is a lot of money. Anyway, I was given something to look at since I wasn't too sure of this entire thing. The lady gave me this,

    www.silvergroup.moneywayz.com
    Go and login there.
    ID= silvergroup
    Password= 7879

    They claim you can get your money back free within 1 year of the purchase. I saw some complaints at BBB and rip-off.com had several people say that they couldn't get their money back at all.

    Also, when I spoke to the lady on the phone she something about rip-off.com being charged with fraud or some such thing. I didn't really catch what it was, something about it being unreliable. Is this true?

    The person I talked to was seemed like they really believed what they were doing was working and right, but any good scam artists can do that. It also sounded like she was in an office or something, and she said she made 6 figures last year...

    I told her I had no way of paying the money right now, and she is going to call me back tomarrow. What do you guys think? I need some advise here. Thanks!

  2. #2
    Join Date
    Dec 2005
    Location
    New Jersey
    Posts
    269

    Re: Moneywayz: scam or ligit?

    Quote Originally Posted by Stryker7200
    Alright, I got an ad in the mail today for moneywayz.com and decided to fill out the info at their website. About 2 hours later I got a phonecall and chatted with a person at moneywayz.com for about 30 minutes. What they do is have clients sign up and then advertise for them. Their products are mortgagewayz, healthwayz, travelwayz, taxwayz, shopwayz, and moneywayz. Basically they say that you get a fixed amount or a commision based on what is bought by other people through your onw website that they give you.

    The start up package is $1,770...wow...
    It sounded good, but that is a lot of money. Anyway, I was given something to look at since I wasn't too sure of this entire thing. The lady gave me this,

    www.silvergroup.moneywayz.com
    Go and login there.
    ID= silvergroup
    Password= 7879

    They claim you can get your money back free within 1 year of the purchase. I saw some complaints at BBB and rip-off.com had several people say that they couldn't get their money back at all.

    Also, when I spoke to the lady on the phone she something about rip-off.com being charged with fraud or some such thing. I didn't really catch what it was, something about it being unreliable. Is this true?

    The person I talked to was seemed like they really believed what they were doing was working and right, but any good scam artists can do that. It also sounded like she was in an office or something, and she said she made 6 figures last year...

    I told her I had no way of paying the money right now, and she is going to call me back tomarrow. What do you guys think? I need some advise here. Thanks!
    I wouldn't touch it with a ten foot pole.
    Don't get scammed. Check out all opportunities or Companies before doing business.

  3. #3
    Join Date
    Mar 2006
    Location
    Salt Lake City, UT
    Posts
    10

    Re: Moneywayz: scam or ligit?

    I asked for information from Moneywayz and it started an avalanche of phone calls to get my credit card number. At first their "program" was nearly $1800.00, but after about 5 phone calls, "they said they liked me and knew I was the type of person they were looking for" and they dropped the price to $495. Talk about HUGE red flags. STAY AWAY!

  4. #4
    Join Date
    Sep 2006
    Posts
    1

    Re: Moneywayz: scam or ligit?

    I just got a call today and heard the recording and all. It sounded really good. So good that I actually had the same idea about a year ago. It's called an "affiliate program." They simply turned affiliation into a network marketing scheme. All you have to do is advertise for them.

    Now, think about this. If all I have to do is advertise to make money, why do I need to pay THEM to advertize for THEM?

    If you want to do and affiliate program, go to commisionjunction.com. Sign up. Make a website and advertize it yourself. You can advertize for a lot less than $1700 a pop! And then get all of the business to yourself!

    Keep in mind, that anyone that has tried to build a website and advertize it knows that doing so is hard work. Even if you are GIVEN a website, the advertizing is the hard part. Unless it comes up in the top 10 on google, no one is going to find it.

  5. #5
    Join Date
    Mar 2007
    Posts
    1

    Re: Moneywayz: scam or ligit?

    I don't think moneywayz is a scam per se, but it's a pretty specious business. Unelss you want to do business, advertize, sell, etc., and maybe have to call them back multiple times and persist in order to get your money back, or get someone to talk to about your business, stay away. My impression of moneywayz is that it's a good business model and not designed around deception as a true scam would be, but it reeks of overeagerness and poor maintenance of the business. It tends to have a bad reputation on the internet, but I don't feel scammed quite in the same *scam* way by moneywayz as I did by ifriends.com, for instance, or some other online businesses. But I only paid like 130 dollars for my franchize; I can see being very upset if I had paid more than two or three hundred for what I got.

    If you want to try being an internet salesman / advertizer and you don't mind a business that isn't run free of flaws and leaks, moneywayz might be for you. If you want cheap health care buy it from emery.moneywayz.com ehhhh im probably violating TOS if I post that. Ha. Silly business.

    IMO in business you should just offer something that people want enough that you don't have to be pushy at all to get plenty of sales.

  6. #6

    Re: Moneywayz: scam or ligit?

    Moneywayz is a rip off. I, too, got a phone call, over a year ago. I was perfect prime fish for their bait. I hadn't ever owned a computer. Their promise was that, in a month's time, I'll have made enogh money to be able to buy a computer from them for about $600. A complete system valued @ $2,100. I'd never even shopped for a pc. What did I know ? They knocked the price down to $1,100 from $2,400 for a six month web site. Such a deal ! They sent me litature about all the parallel sites for Health, Retirement, Travel Discounts, Medical coverage. I even bought 200 mailing cards to advertise the site, at a cost of about $115, with my code to enter. That's where my commission was to generate from. There never was a functioning web site, ever. Not even to this day. A few weeks after all this, I did aquire a new pc. Not from Moneywayz. When I called to envoke my "garunteed refund within 1 year", of course it was refused on the grounds that I had to fullfill my end of the agreement, which I'd never heard of, to run one of their approved ads, full page, in six major news papers, for one week and not get any responce from them. I don't know what that would cost. More than $1,100 I'm sure. Then, that would make me party to their scam while they pull in more idiots, like me, money. The phone #'s I have for them are no longer in service shortly after I requested the refund. Has anyone been able to recover their "investment" in this scam ?

  7. #7
    Join Date
    Jun 2008
    Posts
    337

    Re: Moneywayz: scam or ligit?

    One of my newsletter subscribers claims that MoneyWayz threatened to sue me because I was helping people get refunds from them a while back (I didn't charge them).

    Well, MoneyWayz seems to be gone now along with their six other websites which I can't remember - but I think they were something like MortgageWayz, TaxWayz or things like that.

    I remember that Chuck Jaffe from MarketWatch called MoneyWayz one of his "Stupid Investments of the Week" - "With this business scheme, you and your money part ways"

    The full MarketWatch article is still up here.

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