DAYTON, OHIO, April 24, 2014 – In a local newspaper this week, an advertisement ran promoting the opportunity to claim a vault bag full of money and coins for only $99. The ad claims consumers responding to the ad just need to confirm whether they live in one of the counties in Ohio selected in the article and call a toll free number, (866) 340-4756, within three days to claim a vault bag. Your Better Business Bureau warns past experience with the company indicates you may not get what you expect if you respond to the ad.
The company making the offer is World Reserve Monetary Exchange, Inc., aka Universal Syndications, Inc., which is located at 8000 Freedom Ave. NW, Canton, OH. This is the same address used by a company - Senior Mobile – Brilliant Built Technologies - your BBB issued a warning about last month, when it ran an ad offering free phones, which weren’t really free. Like Senior Mobile, World Reserve Monetary Exchange, Inc. has an F rating with your BBB. The factors that have lowered the company’s rating to your BBB’s lowest rating are:
- 12 serious complaints filed against business
- Advertising issue(s) found by BBB
- Business has failed to resolve underlying cause(s) of a pattern of complaints
In total, the company has had 249 complaints closed with your BBB in the last three years, 71 of which closed in the last 12 months. Several complaints concern the company’s offering of a “bag of over 100 US Government coins which may include some dating back to the early 1900s”. The company does provide its position response to any complaint brought to its attention by your BBB, however some complaints that are currently pending may not yet be a part of the number of complaints listed above.
On November 2, 2012, your BBB sent correspondence to Universal Syndications concerning the advertising of “scarce coins.” The company responded November 14, 2012, showing it made a couple different changes to its advertisements. However, BBB files indicate this business still has a pattern of complaints concerning the number of rare/scarce coins contained in the bag since changes have been made. Consumers indicate the majority of coins contained in the bag are newer coins and pennies. As of May 2013, BBB continues to see a pattern of complaints of misrepresentation concerning the number of rare/scarce coins received by consumers and has not resolved the underlying reason(s) for the complaints.
Your BBB advises when reviewing an advertisement, you read it in its entirety and avoid feeling rushed to purchase due to company deadlines without getting a full and complete understanding of what’s being offered. Even with limitations, your BBB recommends you request detailed information prior to making a purchase to help you make an educated buying decision.
John North, president and CEO of the BBB serving Dayton and the Miami Valley, adds, “You can’t believe everything you read even when it’s in a reputable publication. You have to do your research, read the fine print and ask questions before doing business with unfamiliar your companies. And, always Start With Trust by checking businesses out with your BBB. Simply, visit www.bbb.org
or call (937) 222-5825 or (800) 776-5301.”
About Your BBB Serving Dayton and the Miami Valley
For more than 100 years, your Better Business Bureau has been helping people find businesses, brands and charities they can trust. In 2012, people turned to your BBB 124 million times for Business Reviews on more than 4.5 million companies and Charity Reports on 11,000 charities, all available for free at bbb.org
. BBB serving Dayton and the Miami Valley is one of 112 local, independent BBBs across the United States and Canada. To further promote trust, your BBB also offers dispute resolution support for consumers and businesses when there is difference in viewpoints and industry self-regulation programs. BBB serving Dayton and the Miami Valley serves seven and half Ohio counties, including Clark, Darke, Greene, Miami, Montgomery, Preble, Shelby and northern Warren counties.