Topic: Official CaVirtex.com Thread - page 41. (Read 103396 times)
$1200 inactivity fee :0
I apologize if this isn't an appropriate place to post this message (and if not, of course it should be removed).
I have opened a ticket several days ago through CaVirtex's support system and have yet to receive a response on this:
On Oct. 30th I was charge an account inactivity fee. I understand that this fee was stated in their TOS since the beginning (I signed up in June 2011) and that they simply hadn't started applying the fee. On Oct 15th they announced the commencement of this fee on their announcement page but not via email, even though they have sent announcements via email about fees etc as recently as July.
Their TOS states that the fee would be $50 CAD/month withdrawn as BTC.
Despite this, on Oct. 30th they withdrew -3.99 BTC as an "Inactivity Fee"
Here is a screenshot:
http://dl.dropbox.com/u/128280/Screenshots/cc5d1yvs-7_c.png
MY MAIN ISSUE is that $50CAD on Oct 30th should have been around .15 BTC but they have taken ~26x times that and they have not explained this issue even though I opened a support ticket on Nov 6th.
MY SECONDARY ISSUE is that I don't feel that they have enacted these inactivity fees in good faith. I understand that they "are not a bank", fair enough, but their system is obviously capable of sending emails about accounts entering inactivity status, and it is aware of which accounts would be approaching a fee deadline. And of course they have sent fee change email notifications in the past, and in the user settings they have an option (defaulted to on) for bulletin emails.
CaVirtex/Joseph David/etc: PLEASE follow up on this ASAP, especially my main issue. I feel like a response out in the open here is most appropriate as I think these are serious issues and your treatment of them should affect your trustworthiness within the community. However, barring that, I have an open support ticket that Allison responded to (26.5 hours after opening) where she only responded with a repost of the announcement and totally ignored the fact that the main issue is that you hugely over-charged me. My follow up messages have gone unanswered.
Thanks.
I have opened a ticket several days ago through CaVirtex's support system and have yet to receive a response on this:
On Oct. 30th I was charge an account inactivity fee. I understand that this fee was stated in their TOS since the beginning (I signed up in June 2011) and that they simply hadn't started applying the fee. On Oct 15th they announced the commencement of this fee on their announcement page but not via email, even though they have sent announcements via email about fees etc as recently as July.
Their TOS states that the fee would be $50 CAD/month withdrawn as BTC.
Despite this, on Oct. 30th they withdrew -3.99 BTC as an "Inactivity Fee"
Here is a screenshot:
http://dl.dropbox.com/u/128280/Screenshots/cc5d1yvs-7_c.png
MY MAIN ISSUE is that $50CAD on Oct 30th should have been around .15 BTC but they have taken ~26x times that and they have not explained this issue even though I opened a support ticket on Nov 6th.
MY SECONDARY ISSUE is that I don't feel that they have enacted these inactivity fees in good faith. I understand that they "are not a bank", fair enough, but their system is obviously capable of sending emails about accounts entering inactivity status, and it is aware of which accounts would be approaching a fee deadline. And of course they have sent fee change email notifications in the past, and in the user settings they have an option (defaulted to on) for bulletin emails.
CaVirtex/Joseph David/etc: PLEASE follow up on this ASAP, especially my main issue. I feel like a response out in the open here is most appropriate as I think these are serious issues and your treatment of them should affect your trustworthiness within the community. However, barring that, I have an open support ticket that Allison responded to (26.5 hours after opening) where she only responded with a repost of the announcement and totally ignored the fact that the main issue is that you hugely over-charged me. My follow up messages have gone unanswered.
Thanks.
This is really annoying. At least let people cancel a pending order.
Its back up my orders are no longer pending BUT THEY SHOULD HAVE BEEN FILLED that is real bullshit now they are open...when I sent them I hit above market.
Extremely disappointed with the outcome of this freeze. I clearly sent orders timestamped when the market was lower then my orders and when they bring it back up it is $60 higher and my orders are open instead of filled. All I get from support is the engine was down now were back up.
This is really annoying. At least let people cancel a pending order.
yes, same problem and I guess that is why the spread is so big.
I was just noting that spread. Didn't notice the clock had been stuck for an hour Seems like order book is frozen since the BTC price crash and orders stuck pending.
Anyone else having same issue with pending orders that are not filled that should be?
Anyone else having same issue with pending orders that are not filled that should be?
I hit above market and got stuck pending
Tweeted 20min. ago.
Quote
CaVirtex @cavirtex
We are aware of the trading freeze and are working to restore, updates to follow
We are aware of the trading freeze and are working to restore, updates to follow
really sucks...this is exactly when you need it to work.
yes, same problem and I guess that is why the spread is so big.
Seems like order book is frozen since the BTC price crash and orders stuck pending.
Anyone else having same issue with pending orders that are not filled that should be?
Anyone else having same issue with pending orders that are not filled that should be?
yeah it's screwed up and of course no one is around to fix it... useless tools. Lots of market volatility but you can't make trades.
Seems like order book is frozen since the BTC price crash and orders stuck pending.
Anyone else having same issue with pending orders that are not filled that should be?
Anyone else having same issue with pending orders that are not filled that should be?
Hello,
Bitcoin trades happen 24/7 it seems like a good idea to have at least one customer service rep working at least weekends. If you only have staff working 9-5 weekdays there is a lot of dead time where customers can't get answers to inquiry tickets.
Do you have any staff working weekends or outside regular working hours?
Bitcoin trades happen 24/7 it seems like a good idea to have at least one customer service rep working at least weekends. If you only have staff working 9-5 weekdays there is a lot of dead time where customers can't get answers to inquiry tickets.
Do you have any staff working weekends or outside regular working hours?
What's the deal with the 50$ a month (!!!!) inactivity fee? 
For some people who created an account with you to hold for a long term, that might spell very expensive bad news.
Given the mandatory verification, and a mandatory "pre authorized debit" for TD customers (as Vogogo option does not work for them), you simply pave a ground for overly expensive, if not blatantly customer hostile service.
Are you desperately trying to loose your customers?
For some people who created an account with you to hold for a long term, that might spell very expensive bad news.
Given the mandatory verification, and a mandatory "pre authorized debit" for TD customers (as Vogogo option does not work for them), you simply pave a ground for overly expensive, if not blatantly customer hostile service.
Are you desperately trying to loose your customers?
Could you not buy/sell $0.01 worth once per year to remain "active"?
Quote
As per our terms of service for dormant accounts, inactivity fees have NOT been charged to date due to our other development priorities. This announcement is to notify all users that we will be commencing the billing of dormant account fees on October 23 2013 at 11:00AM (MST). Inactivity for the purpose of determining dormancy is defined as a completed trade between BTC and CAD not occurring for over 1 year.
Those are the facts.
Cavirtex representative? Care to comment?!
I can answer one not the cavirtex rep but its in their FAQ albeit their is no online payment option for $5 as all I see is Vogogo
https://www.cavirtex.com/faq#eft_fee
Why do you charge such a high fee for EFT?
After 2 years of processing EFT direct withdrawals and having this service shut down by some banks and payment processors, we have learned that this method is the highest risk for fraud even if we perform user verification. In the current state we must provide large capital reserves to account for chargebacks and must price-in the risk of loss we take into the fee.
The best and lowest cost way to deposit funds in Canada is through online bill payment. We encourage you to use that method as it is only $5. Our payment providers support all major banks for online bill payment, if a bank is not supported please submit a support ticket with the name of your bank and we will have it added.
Using Vogogo is the way to do the online bill payment method now. I believe I read ( don't have time to dig it up now ) that one doesn't need to have an account with Vogogo to use that method. That is just what you setup as the payee at your bank. I have found that sending off an email to Virtex to ask about things like this usually gets a quick reply.
What's the deal with the 50$ a month (!!!!) inactivity fee?
For some people who created an account with you to hold for a long term, that might spell very expensive bad news.
Given the mandatory verification, and a mandatory "pre authorized debit" for TD customers (as Vogogo option does not work for them), you simply pave a ground for overly expensive, if not blatantly customer hostile service.
Are you desperately trying to loose your customers?
For some people who created an account with you to hold for a long term, that might spell very expensive bad news.
Given the mandatory verification, and a mandatory "pre authorized debit" for TD customers (as Vogogo option does not work for them), you simply pave a ground for overly expensive, if not blatantly customer hostile service.
Are you desperately trying to loose your customers?
Could you not buy/sell $0.01 worth once per year to remain "active"?
Quote
As per our terms of service for dormant accounts, inactivity fees have NOT been charged to date due to our other development priorities. This announcement is to notify all users that we will be commencing the billing of dormant account fees on October 23 2013 at 11:00AM (MST). Inactivity for the purpose of determining dormancy is defined as a completed trade between BTC and CAD not occurring for over 1 year.
Those are the facts.
Cavirtex representative? Care to comment?!
I can answer one not the cavirtex rep but its in their FAQ albeit their is no online payment option for $5 as all I see is Vogogo
https://www.cavirtex.com/faq#eft_fee
Why do you charge such a high fee for EFT?
After 2 years of processing EFT direct withdrawals and having this service shut down by some banks and payment processors, we have learned that this method is the highest risk for fraud even if we perform user verification. In the current state we must provide large capital reserves to account for chargebacks and must price-in the risk of loss we take into the fee.
The best and lowest cost way to deposit funds in Canada is through online bill payment. We encourage you to use that method as it is only $5. Our payment providers support all major banks for online bill payment, if a bank is not supported please submit a support ticket with the name of your bank and we will have it added.
What's the deal with the 50$ a month (!!!!) inactivity fee?
For some people who created an account with you to hold for a long term, that might spell very expensive bad news.
Given the mandatory verification, and a mandatory "pre authorized debit" for TD customers (as Vogogo option does not work for them), you simply pave a ground for overly expensive, if not blatantly customer hostile service.
Are you desperately trying to loose your customers?
For some people who created an account with you to hold for a long term, that might spell very expensive bad news.
Given the mandatory verification, and a mandatory "pre authorized debit" for TD customers (as Vogogo option does not work for them), you simply pave a ground for overly expensive, if not blatantly customer hostile service.
Are you desperately trying to loose your customers?
Could you not buy/sell $0.01 worth once per year to remain "active"?
Quote
As per our terms of service for dormant accounts, inactivity fees have NOT been charged to date due to our other development priorities. This announcement is to notify all users that we will be commencing the billing of dormant account fees on October 23 2013 at 11:00AM (MST). Inactivity for the purpose of determining dormancy is defined as a completed trade between BTC and CAD not occurring for over 1 year.
Those are the facts.
Cavirtex representative? Care to comment?!
What's the deal with the 50$ a month (!!!!) inactivity fee?
For some people who created an account with you to hold for a long term, that might spell very expensive bad news.
Given the mandatory verification, and a mandatory "pre authorized debit" for TD customers (as Vogogo option does not work for them), you simply pave a ground for overly expensive, if not blatantly customer hostile service.
Are you desperately trying to loose your customers?
Where do you see an inactivity fee mentioned? I looked through the 'fees' and 'faq' sections and didn't find it. For some people who created an account with you to hold for a long term, that might spell very expensive bad news.
Given the mandatory verification, and a mandatory "pre authorized debit" for TD customers (as Vogogo option does not work for them), you simply pave a ground for overly expensive, if not blatantly customer hostile service.
Are you desperately trying to loose your customers?
What's the deal with the 50$ a month (!!!!) inactivity fee?
For some people who created an account with you to hold for a long term, that might spell very expensive bad news.
Given the mandatory verification, and a mandatory "pre authorized debit" for TD customers (as Vogogo option does not work for them), you simply pave a ground for overly expensive, if not blatantly customer hostile service.
Are you desperately trying to loose your customers?
Where do you see an inactivity fee mentioned? I looked through the 'fees' and 'faq' sections and didn't find it. For some people who created an account with you to hold for a long term, that might spell very expensive bad news.
Given the mandatory verification, and a mandatory "pre authorized debit" for TD customers (as Vogogo option does not work for them), you simply pave a ground for overly expensive, if not blatantly customer hostile service.
Are you desperately trying to loose your customers?
What's the deal with the 50$ a month (!!!!) inactivity fee?
For some people who created an account with you to hold for a long term, that might spell very expensive bad news.
Given the mandatory verification, and a mandatory "pre authorized debit" for TD customers (as Vogogo option does not work for them), you simply pave a ground for overly expensive, if not blatantly customer hostile service.
Are you desperately trying to loose your customers?
For some people who created an account with you to hold for a long term, that might spell very expensive bad news.
Given the mandatory verification, and a mandatory "pre authorized debit" for TD customers (as Vogogo option does not work for them), you simply pave a ground for overly expensive, if not blatantly customer hostile service.
Are you desperately trying to loose your customers?
Any chance of having the debit cards reload automatically? I know it can be hard to set up a system that sells BTC instantly for debit transactions but what about setting up a pool of something like $500. Then when I use the debit card a sell order automatically goes through on my account and tops up the account back to $500?
We have no plans for this right now, however, we will soon be enabling instant 24/7 loading of the cards through your Virtex account.
Any chance of having the debit cards reload automatically? I know it can be hard to set up a system that sells BTC instantly for debit transactions but what about setting up a pool of something like $500. Then when I use the debit card a sell order automatically goes through on my account and tops up the account back to $500?
Any plans to revisit your fee schedule again? Not to keep harping on it but I would love to use CaVirtex but I can't justify the 1.5% fees, and the price breaks are ridiculous. I'd have to do CDN$120k in volume and pay $2k in fees just to hit the first break down to 1.4%. The same kind of volume on Bitstamp would drop your fees from the initial 0.5% to 0.22%.
I would be very much interested in this as well; I'd like to do more frequent short-term trading on cavirtex but the current fee schedule makes that impractical. Jump to: