Safe Families

Sep 9, 2013 12:49 PM by MELISSA CANONE

BBB alerts consumers to The World Reserve Money Exchange

The ad from the private company shows armed guards protecting "the overstuffed vault bags that everyone is trying to get." The World Reserve ad promises that not only do you get a free 90% pure "Silver Liberty coin," but 100 other "scarce" and "highly collectible" coins dating back to the 1900's. And all you have to do is have the correct zip code. The ad goes on to state "2 day deadline end to get the Silver Waling Liberty coin free".

A BBB Investigative Team called the toll free number and was told the free silver coin is not exactly free. First have to buy the vault bag of coins for $13, but since the ad said the bag was "loaded with a small fortune"; it sounded good; maybe too good.

The Better Business Bureau in Ohio; where the company is located has given the company an "F" rating on a scale of A+ to F. Reasons for the rating included advertising issues found by the BBB and the business has failed to resolve the underlying cause of a pattern of complaints.

The Better Business Bureau has also received 259 complaints about World Reserve Monetary Exchange. Most of the complaints from consumers claim they had problems with the products or service regarding advertising issues.
The BBB has received several complaints concerning the company's offering of "bag of over 100 US Government coins which may include some dating back to the early 1900s".The company does provide their position response to any complaint brought to their attention by the responding to complaints.

On November 2, 2012, the BBB sent correspondence to Universal Syndications concerning the advertising of "scarce coins." Company responded November 14, 2012, showing they made a couple different changes to their advertisements. However, BBB files indicate that 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 consumer and has not resolved the underlying reason(s) for the complaints.

As of September 7, 2012 the company has responded and addressed the May 2012 advertising challenge by modification of their ads. The BBB Ad Review committee found the matter resolved. Recent ads have come to our attention regarding the company's bag of coins. Reviewing the ad shows, despite the company's previous commitment to refrain from using statements that are untrue, misleading, deceptive, and fraudulent or falsely disparaging of competitors, the BBB continues to see the same type of advertising concerns.

Universal Syndications Inc., also known as World Reserve Monetary Exchange Inc. is also indicated in BBB files as an affiliate of Arthur Middleton Capital Holdings Inc, Fridge Electric LLC, Heat Surge LLC, PatentHealth LLC and Universal Media Syndicate Inc. Separate Business Reviews are available on these companies.

The BBB asks that when reviewing an advertisement you read it in its entirety and to not feel rushed to purchase due to company deadlines without getting a full and complete understanding of what is being offered. Even with limitations the BBB recommends you request any information you will need prior to purchase that will help you make an educated buying decision.

 

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