VectorVest Inc.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me

The weekend prior to the customer’s cancellation we switched to a new CRM systemHowever, after a few years of building & testing the new system our go live transition has not gone as smoothly as we hopedThis bumpy transition has caused several issues that we are still trying to work out as
quickly as possibleUnfortunately, those issues have included some incorrect charges & a back log of refunds I have looked at the customer’s account and the refund was issued to Mr*** on 4/24/18. Mr*** did speak to a representative on 4/& was informed the credit was issued & could take 3-days to show up on his account. We do apologize for his delay & are in no way trying to scam himThis was just a case of bad timing & a bumpier than expected transition to a new CRM system. I have included the refund information page to assure Mr*** that this has been processed

Mr***'s call on May 9th was reviewed and he was informed of the renewal date via the call & emailIt was also disclosed to Mr*** that he would need to call 2-days before 6/20/to cancel if he changed his mind. See attached letter for complete details

RevDex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me.Thank you for your efforts to resolve this issue and your
mailing me the Vector Vest’s response
The main point is one of proper communication and of their
policy of requiring the customer to call a couple of days prior to renewal date
to cancel the membershipThe question is not one of auto renewal policy
The main question is about the phone conversation on May 9th
and the email that was sent to me the same dayDuring the phone conversation,
apparently the rep asked me to call 2-days prior to the end of the two week
extension if I changed my mindChange my
mind about what? The main reason for my call that day was to cancel my account
because I was not benefiting from it and on the contrary, made some lossesSo
the offer to make a complimentary extension of weeks was taken to mean a “good
faith” measure on their part, and that at
the end of it the membership would be automatically cancelledIf he asked
me to call 2-days before the end of the two weeks, it could have been taken it to
mean that if I changed my mind about cancelling and decided to renew, then I
should call 2-days priorYou can easily see how the conversation could be
misinterpretedIt does not matter what is said in the emailCommunication,
whether on the phone or email, should be clear
Coming to their general policy, it is not a fair business
practice requiring the customers to call 2-days before the next billing date
It places the burden on the customer, to call within that narrow windowWhy can’t the customer call any day before
the next billing date, to cancel the account?
People have busy lives and they might forget to call within
that narrow windowThen, Vector Vest seizes on that and bills the customer for
the next month tooAnd, like in my case, if the customer doesn’t realize that
the company is continuing to bill them, several months would go by and Vector
Vest would have gotten the customers’ money for freeThen they’d say they
wouldn’t refund the money
Coming back specifically to my case, I thought the membership
would automatically expire after the two week extensionI think I should be refunded
the whole months’ worth of money, but in a show of good faith, I will agree
to their offer of a refund of $
I thank the Revdex.com for mediating in this matter

Initial Business Response /* (1000, 8, 2015/09/16) */
On 11/19/the customer signed up for a 10-week trial subscription to VectorVest Realtime for $
The link for the trial he signed up for is
https://www.vectorvest.com/weborders/order-3reasons.html?mkt_tok=3RkMMJWWfF9wsRo...⇄ /> On this page the customer had to enter Name, address, email, phone number, & a credit card to begin the trial
He also had to check a box that states the following: I understand that I will only be charged $at this time and I will not be charged again until this special 10-week trial offer endsI also understand that if I am not completely satisfied, I may call to cancel and there will be no further chargesHowever, if I like what I see, my subscription will automatically continue for just $per month after the trial period
A Welcome email that includes a link to download the software and the user name & password for the customer was sent to the customer on 11/19/On 11/20/we also shipped a free book to the customer as per the trial details
On 1/28/the 10-week trial converted as stated to automatic monthly billing of $137/mthThe customer did not contact our company until 7/28/to cancel the subscriptionOur refund policy posted on our website states there are no refunds for monthly subscriptions
The customer contact history shows the manager attempted to contact him at the end of July regarding a refundAfter reviewing the case it was determined the customer check- marked the box notifying him of the automatic charges after the trial ended and was sent login info & download instructionsA representative (Rick) also called him on 12/2/& sent an email on that dayHe was also sent a postcardManagement has decided we have to abide by our refund policy and the customer agreed to those terms when he signed upUnfortunately, we can't offer a refund at this time
Initial Consumer Rebuttal /* (3000, 10, 2015/09/18) */
(The consumer indicated he/she DID NOT accept the response from the business.)
Their claim is a scamPlain and simpleI didn't solicit Vector Vest; instead they solicited me by sending numerous emails including a free no-expense web-seminar invitation to listen to their sales pitchI had some extra time and had to download software to view and attend their web-seminarI thought what the heck since they were so persistent
I was led to giving credit / debit card information but I was under the impression it was risk free
I never accessed any of their websites, tools, etc after what I thought was the risk free web seminar
I never received a call or an email letting
to let me know I my credit card / bank account was going to be debited for something I never set up an account for
I find it to be theft and fraud when this goes on for this long a period of time and no one contacts me to ask why I haven't used their product once; and not even accessed their website or set up a password
Now, as I explained to numerous reps I spoke with, my wife and I had a medical emergency where our newborn son was born several weeks early and had to spend extensive time in the Neo-Natal Intensive Care UnitMy wife also had to spend an extended time in the hospital
I am sorry but when a financial tools company the size of Vector Vest, that offers seminars in numerous cities, that advertises on CNBC and in the IBD, I find it nothing but stealing when my family can use this $plus dollars they took from my accountAs I stated, I never used their services
I only watched a free web-seminar that I was invited to
I contacted Vector Vest several times and always got a firm denial and rude, non courteous, extremely unprofessional representatives on the phone
They offered to extend my service, and last to give me a partial refundI explained that I wanted a full refund and didn't want to be put under time constraints to ramp up on their products when I have a newborn at home and family obligations come first
Once again, I find it concerning that once my account started being debited for $/ month , that not one Vector Vest Rep called me to ask why I never used their service or accessed their websiteI never received a letter in the mail, or an email
Also, the last time I spoke with a Vector Vest rep has been over weeks ago
They stated they would have someone call meI am still waiting
Due to their very unprofessional service, rude customer service reps, and lack of any follservices, I will never utilize Vector Vest
Final Business Response /* (4000, 13, 2015/09/21) */
On Friday, 9/18/the Customer Service Manager spoke to Mr*** and gave him a full refund for months service in the amount of $
Final Consumer Response /* (2000, 15, 2015/09/22) */
(The consumer indicated he/she ACCEPTED the response from the business.)
I accept Vector Vest's resolution for a full refund
I apologize for any confusion, but the right decision was made
Thank you Revdex.com for stepping in and looking after the consumer

After receiving the complaint from Mr. [redacted], we have reviewed his account. Due to a change in our phone system we could not confirm if a call was made by Mr. [redacted] to cancel the service as claimed. We contacted Mr. [redacted] to discuss a resolution. Mr [redacted] given a refund for 2 months @ $59 each and said...

that he was happy with that resolution.

(Revdex.com copied from original document)Revdex.com Complaint [redacted]Customer Name: Mr. [redacted]Mr. [redacted] first purchased one of our subscription services on 4/8/16. The first purchase was our End of Day 5-week Trial with monthly conversion. On 4/27/16, Mr. [redacted] received an offer to extend the trial by...

30-days. He accepted this offer & switched to our Intraday subscription. The extended trial period was set to convert to billing on 6/13/16. Mr. [redacted] contacted us to cancel the trial on 6/3/16 before the billing conversion occurred. Mr. [redacted] then started a new IntraDay 30-day trial on 6/15/16. That trial converted on 7/15/16 & Mr. [redacted] downgraded to the Express services @ $39/month. Mr. [redacted] had a monthly charge for Express on 7/15/16 & 8/14/16. On 8/16/16 the Express subscription was cancelled. On 9/15/17, Mr. [redacted] returned as a customer and purchased our End of Day 5-week trial with monthly conversion. Mr. [redacted] requested an extension to the trial at time of purchase stating he was going on a 4-day vacation. The trial should have converted to billing on 10/20/17 but the extension was given to Mr. [redacted] and he was told the conversion date would be 10/30/17. Mr. [redacted] was billed for the End of Day monthly subscription fee of $69 on 10/30/17 and contacted us on 11/6/17 to cancel the services. We record usage history but we don’t monitor it. Our customers have the freedom to log in as often or little as they want during a billing period. If Mr. [redacted] was unable to use the services why did he not cancel prior to the trial period ending as he has done in the past? As far as Mr. [redacted] receiving a copy of the refund policy, every customer must acknowledge & read (or scroll through) the Subscriber Agreement and type in the words “I Agree” in the appropriate spot before the software can be downloaded. Our termination & refund policy clearly states in the Agreement that there are no refunds on monthly subscriptions. The customer receives access to the services until the end of the current billing period after cancellation. Mr. [redacted] cancelled on 11/6/17 but had access to use the services until 11/29/17. As stated above, Mr. [redacted] has had services with several free extended periods of time added to trials & cancelled services with no issues in the past. Mr. [redacted] was given 45 days with his last trial. If he was unable to use the services for any reason that is when he should have contacted us. He was aware of trial conversions & billing. We normally offer 30 free days with training to learn the program in lieu of a refund on monthly subscriptions. Unfortunately, on 11/15/17 Mr. [redacted] filed a chargeback with his credit card company & we don’t even consider the possibility of a refund during the chargeback process.

I am rejecting this response because: Their termination & refund policy is not applicable for their trial period offer. None of this was presented. br>

In response to the customer’s complaint of recurring billing & not providing phone numbers: When a customer signs up for a trial they choose either a monthly or annual billing option. They must also check a box on the order form that explains the billing will automatically begin if the account...

is not cancelled before the end of the trial period. The phone number to contact us is listed several times on the order forms. The toll-free phone number is also listed at the top of our website. If you are logged into the program the phone numbers can be found in various locations. The customer stated the phone number was not provided yet as soon as his card was charged he called to cancel the account. In response to the customer’s complaint of charging an unauthorized card & changing the information: Our e-com system is not tied to our Enterprise system and therefore we had no way of knowing this customer changed or deleted his credit card number from our e-com site. It is still housed in our Enterprise system and unless he called to cancel before his Auto-Renewal was to take place, we would have no way of knowing he didn’t want to continue his subscription. I have reviewed this customer’s account. The customer first purchased a trial on 1/26/16. On 3/1/16, the trial conversion date, the payment came back as a bad cc. After several failed payment attempts the account was cancelled 3/3/16. On 9/14/16, the customer purchased another trial. That trial converted to auto billing on 12/23/16. The customer had regular monthly billings from 12/23/16 to 8/20/17 for that subscription. On 9/19/17 the automatic payment again failed due to a bad cc. On 10/18/17 the account was cancelled due to a bad cc over 30 days. On 1/2/18 the customer again purchased a new trial. On 3/13/18 that trial converted to the monthly auto billing. On 4/13/18 the 2nd regular billing occurred. The customer called on 4/13/18 to cancel services, but made no attempts to contact us prior to the billings. In our Subscriber policy, that the customer must read & agree to before downloading the software, it clearly states no refunds on monthly subscriptions cancelled after the billing date. We allow access to the services after cancellation for the entire monthly period billed. We do offer partial refunds to our annual subscribers based on date of cancellation. If this customer believes our company to not be reputable why would he continuously come back & purchase trials to our services. Despite the policies provided to the customer on more than 1 occasion, in a show of good faith we are making an exception this time and have processed a refund on 4/16/18 in the amount of $69.00. This decision was based on the customer calling to cancel on the same day of billing.