Complaint Review: Cash Link Systems Inc. - Miami Florida

CASH LINK SYSTEMS, INC. (CLSI) sells Cashless ATM machines (scrip ATMs). They are located at 10800 Biscayne Blvd. Suite 600 Miami, FL 33161.

http://www.franchiseforsale.com/moreinf2.cfm?QueryName=510181&ref=overture

1. CASH LINK SYSTEMS, INC. (CLSI) is actively engaged in fraudulent business practices including false and misleading advertising. They overcharge for scrip ATMs to the tune of 1000%; they use Cash ATM statistics and data to sell Cashless ATMs.

2. CLSI sells the Nurit Lipman 2085+ terminal for a price ranging from $3,895.00 to $2,850 per unit depending on the package selection. The average retail for this unit is $330.001. And although a stand is provided along with the unit, the price charged cannot be justified.

3. CLSI uses CASH ATM transactional data and statistics exclusively both on its website and in its promotional material to sell CASHLESS ATMs. No where on their website or in their promotional materials is there any data regarding CASHLESS ATM usage or acceptance (for example, see http://www.cashlinksystems.com, click on Latest ATM News). This practice is misleading and suggests that CASHLESS ATMs have or will have the SAME success rate.

4. The state of Texas has issued an Emergency Cease and Desist Order against CLSI for operating without a permit and intentionally failing to disclose material facts to include: the risks associated, failure rate, sufficient information to verify claims (for example, Taco Bell reported 30 percent increase in average ticket size when customers use our machine.), overstating usage, and materially misleading potential investors (see attachment or go to: http://www.ssb.state.tx.us/orders/2004/1554.pdf ).

5. CLSI used to be Merchant Payment Solutions Inc in Georgia.FTC Sued and was awarded 20,000: http://www.ftc.gov/os/2002/06/merchantpaymentcmp.pdf

My personal experience with CLSI:

1 Told me locations are waiting for ATM's to be placed. Buy the ATM terminals and we will tell you where to go plug them in at! I have it in writing faxed from David Segal, that if not satisfied with the locations provided by from Cash link systems, they will relocate them for me.

2 Told me I will make at least $400 $800 a month. No less than $400 a month. Turn key investment I will be able to see transactions online as they happen as if checking my bank account online.

3 I asked about the line in the contract not a placement agency in the fine print. David Segal told me they have a 26 employees department devoted solely to obtaining placement. He told me If we don't place them an get you making money, we are not making money either! they make $.40 per transaction.

4 After 3 months of Fred Marino calling, from when I inquired from the Internet investment opportunity, I decided to check into it. They sent me a list of references and phone numbers including the better business beuro. I asked for 3 references that are currently having success with the cashless ATM's that are not listed on the form. I was supplied with them and called them and received a working well for me

5 Still skeptical, David Segal (owner of cash link systems or president of company) called and said he is closing out the area and will have to pay $3000 to advertise again or can simply pass the savings to me as $3,000 off price for 3 terminals (minimum purchase allowed) I sent a personal check and it was cashed.

6 After I sent my check, Dennis Diamond was my placement person. We are closing out the area and have some leads, but no places yet. Told me he has been in contact with Dave Apple of Apple market' and he is on the verge of signing an agreement to have terminals placed. 04/28/2004 I went to Apple market and introduced the cashless Atm to Dave Apple the sole owner and manager of both stores. He was interested in the idea even though he already had a friend's CASH dispensing ATM already there at the grocery line. I mentioned they supposedly already called you about this Cash link systems cashless ATM. He said he has never before heard of it. He said he has never before heard of a cashless ATM before either. He was none the less newly interested in it. Ended up not getting the scripting terminal I was forced to be marketing.

7 After 2 month after sending $10,000 and not having any locations to place them after my going shop to shop and Dennis diamond placement person was never they and never returingin my calls, - I called to complain and asked for my money back. Carmine Russo of customer satisfaction department was rude but controlled. I tried again with placement person for leads. I spoke with Carmine Russo some time after that to inform of BBB complaint filed. He told me he would be willing to use an outside agency to have them placed but it would likely be far away like in Orlando (but they said they alone would place them here before) I told him I would still file the complaint since false pretense of told me locations were ready before I purchased. Basically he told me to do it his way (no BBB complaint)or no placement of machines and told me to persuit current route for placement of machines by filing complaints.

8 According to a previous victum who has posted aweb page about them at http://www.ripoffreport.com/reports/ripoff41205.htm if I do get them placed it will be a failure

Ian

Pensacola, Florida
U.S.A.