Beware Of Cash For iPhones Scheme

cash-for-iphone

(PCM) We have all seen the ad’s on both television and on the internet offering customers the chance to trade-in their old iPhones for some cold hard cash. Many of the companies making these cash offers are not what they seem and are scamming customers out of hundreds of dollars when the send in their phones for trade.

One of the most popular phone trade-in companies is “Cash For iPhones” and they are currently under investigation by the Federal Trade Commission after receiving more than 900 complaints from customers who say that they have received far less cash for their trades than they were initially promised.

One customers says that she signed up on the site to trade in her iPhone 5c and was offered the amount of $131, however once she sent out her phone and the company had it in their possession the offer was then lowered to a measly $11. That is a huge difference!

The website states that customers have three days to file a dispute with the company if they disagree on the offer amount, however it took nearly three days for the customer to even be able to get a hold of anyone in customer service. Once she did, she was then told that by that time it was too late to file the dispute and that they had already recycled her phone.

Both Good Morning America and ABC News took matters into their own hands and conducted their own investigation into the company undercover. They submitted three phones and were told that they would be receiving $800 for the trade-in, however, yet again once the phones were in the companies possession the amount for the three phones was lowered to only $114.

Sounds like something fishy is definitely going to there!  The company is located in Sparks, Nevada and a full investigation is currently underway, but for the meantime, trader beware!

 

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