ComplaintsforEquitrade International, Inc.

• Initial Complaint

  02/08/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I signed my company up to a barter organization called superbiz....I signed up with the understanding there were no annual or monthly fees...They made money on getting a percentage of every transaction...I built up a significant amount of credit...last I checked it was over $6000...Superbiz got bought out by another company called Equitrade...I noticed a charge on my credit for $150 which I never authorized.. When I asked for an explanation they said they were "tweaking their structure"....I would have never signed up if I knew there was an annual fee...They have since suspended my account and I can no longer log in...so now they charged $150 to my card which I never authorized and also logged me out of my account so I can't even use the credit I have....

  Business response

  02/13/2024

  Dear BBB

  Equitrade does not agree with the members assessment and inaccurate description of fee charges. We hope that the below information helps to clarify steps taken and our position.

  Equitrade acquired several accounts in OCT 2022 from a company by the name of Superbiz. This account as listed GROOVE ******** was one of those members.

  Our company communicated via several methods ( mail/ email/ phone) to the entire membership that was acquired important information regarding account changes and specifically membership fee changes and the time periods we would collect fees.   

  Please see attached 4 documents: 

  First - Highlights communication sent to all members regarding Equitrade acquiring their account from previous owner Superbiz sent in OCT YR 2022

  Second - Highlights communication sent to all members well in advance / 90 days before any billing fee changes to account - 4 communications were sent to members w/ first sent on 11/9/2023. Fee change did not bill until 2/1/2024

  Third - Highlights terms of services with Equitrade International - Section 19 outlines requirements for terminating agreements with required notice period of 30 days to avoid continued membership bill 

  Fourth - 

  In the spirit of excellent service experience our company also reached out to this member in several email communications in response to their dispute and offered a one-time courtesy credit to their acct to be applied towards future services.  We believe we have attempted in good faith to satisfy this member while administering the terms of services for our company. 

  We are asking that this review be updated and negative remarks removed.

  Thank you 

  Sincerely, 

  Equitrade Customer Service

  ************

  **************************************

   

   

   

• Initial Complaint

  10/02/2023

  Complaint Type:

  Product Issues

  Status:

  Unanswered

  More info

  I am the Treasurer for a small, cash strapped synagogue in *************. When a donor, ****************************** offered to our Rabbi ************************ in late August, a $50,000 donation via this barter site based out of *******, ** called Equitrade International, we saw an opportunity to get much needed improvements to our 98 year old building. ************** had this credit at Equitrade, the website looked legit, so everyone is happy and our Rabbi agreed. On 9/7/2023, the representative at Equitrade, *************************** took our credit card information. No agreed terms were disclosed by Equitrade, and, unfortunately, our Rabbi did not inquire further..When we received our credit card statement on 9/25/2023, I almost had a heart attack. Equitrade charged the **************************** card $3,500. *********************** on 9/26/23 sent an email to ****************, who said he would look into this matter. On Friday 9/29/23, **************** sent an email saying the synagogue agreed to an upfront 7% fee based on initial deposit and a 7% buy (I'm not certain I understand this second part). *********************** knows that per our by-laws any expense over $1,000 needs a majority board approval and would not enter such agreement.It is our synagogue's hope that these charges would be removed. If Equitrade does not see fit to help us with this matter to the $3,500 upfront fee, we will cannot work with them, and unfortunately need to return the donation. Either way, our desired outcome is the $3,500 removed from the *** CC account. Thank you for your help.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩