Consumer complaint received 2022-02-13
Product: Credit card or prepaid card — General-purpose prepaid card
Issue: Problem getting a card or closing an account — Trouble getting, activating, or registering a card
Company: Foris DAX, Inc. (VA)

Hello, I am filing this complaint against crypto.com - abbreviated XXXX for the purposes of this complaint - citing Title 16, Chapter I, Subchapter D, Part 435 of the Code of Federal Regulations ( MAIL, INTERNET, OR TELEPHONE ORDER MERCHANDISE ) - in this case, as it pertains to issuance and delivery of the XXXX XXXX XXXX XXXX XXXX card. I am filing a complaint due to XXXX 's inability to deliver in a reasonable timeframe ( 30 days ), the failure to advertise and provide information on estimated timelines when requested, and the refusal to provide a refund afterwards. These shortcomings represent clear violations of 16 CFR 435.2 ( constitution of unfair methods of competition, and unfair or deceptive acts or practices for a seller ) subsections ( a ) ( ii ) and ( b ) ( 1 ). 

I applied for the XXXX XXXX XXXX XXXX XXXX card on XXXX To apply, I deposited {$4000.00} of XXXX - XXXX XXXX XXXX XXXX - and paid a {$50.00} " upgrade fee ''. The {$50.00} fee is levied on every card after your first. Note : I never receiving the initial, physical card. I just had a " virtual '' one, so they stated I still had to pay a {$50.00} fee. 

Briefly addressing the fee. The {$50.00} fee information, while available, is rather ... hidden. You have to explicitly look it up, and the information that future cards will have a {$50.00} fee is not presented in any kind of obvious fashion when applying for your first card unless done through customer support and that's unnecessary entirely - especially for a first card. It's not even on their " Card '' page, ( Link : https : //crypto.com/us/cards ). The only fee information you see is " No annual fees '' when you open the page. The only other data on fees on that page is to tell you to look in the app at the list of fees. Within that list ( an exceptionally long document ), the fee can be found, but the obvious conclusion upon going on their page is " Oh, no fees- just a deposit required. '' This is unclear at best and deceptive at worst. The only way you hear about the card fee directly is if you apply through support- which is wholly unnecessary for the first card, especially if you are getting the first one that requires no deposit. 

Moving to the XXXX delivery : The {$4000.00} XXXX deposit is functionally equivalent to purchasing a 180-day certificate of deposit from a bank with a nuance : you can not withdraw principal early at a penalty ; it has to remain the full 180 days. The only reason I staked the {$4000.00} for the 180 days was to get their XXXX card. XXXX XXXX XXXX apps offers several other methods to stake CRO with no required staking periods with higher promised annual interest rates than the XXXX stake provides. That's why I consider the day I staked- and lost access to {$4000.00} for 6 months - the day the clock started. 

The day I staked, I was informed of the 7-14 day shipping time to the U.S., and I was told that " due to Peak Festive period, there might a longer wait for the cards as postal services are faced with increased volumes across the globe. '' I assumed that a longer wait may mean a week - at most two. It has been 16 days, and there is no indication the card has shipped or is near shipping.

My friend who didn't assume, but asked for the definition of " might be a longer wait '' - which I'd personally interpret as an uncertain delay ( " might '' ) that due to its uncertainty would be no more than one week. Maybe two tops. CDC responded : " Unfortunately, I can not provide you with an exact timeline. '' My friend was a prospective user and lacked an account. 

The question, " Will it be within 30 days '' met a similar response and was all but ignored. 

I began requesting information approximately two weeks after staking. I have asked how much longer, where in the queue I am, the average timeline for delivery, an estimate on shipment of the next batch, and the cause of the extended timeline.

I have received unsatisfactory responses to the rest that all share the theme " Your card will ship ASAP/ We're working hard/ We don't have that information/ We don't control card production. '' Similarly, when asking if I could shift from XXXX to XXXX ( same card, different style - but no shortage? ), I was told to be patient and there was no XXXX shortage, despite having been told of an XXXX shortage by a different representative. 

I have yet to be provided a concrete - or a longest expected - timeline. The closest I received was in the form of poor customer support telling me I had not waited that long yet- on day 13. They even went so far as to explain how four days didn't count because the card had not yet issued and that " only '' seven of the remaining nine were business days. I don't often subscribe to the " customer 's always right '', but given that I lost access to {$4000.00} 13 days prior and paid {$50.00}, the clock started the day I staked. It's on the seller, not the buyer to manage their supply chain. 

At this point, I have little to no faith that the card will deliver within a reasonable timeframe ( 30 days absent a provided timeline ), which violates 16 CFR 435.2 ( a ) ( 1 ) ( ii ).

16 CFR 435.2 ( a ) ( 1 ) : ( 1 ) any order for the sale of merchandise to be ordered by the buyer through the mail, via the Internet, or by telephone unless, at the time of the solicitation, the seller has a reasonable basis to expect that it will be able to ship any ordered merchandise to the buyer : ( i ) Within that time clearly and conspicuously stated in any such solicitation; or ( ii ) If no time is clearly and conspicuously stated, within thirty ( 30 ) days after receipt of a properly completed order from the buyer.

Moreover, to see the response, I asked for a refund- already violating 16 CFR 435.2 ( b ) ( 1 ) - due to the unreasonable and non-articulated delay in shipping. I was told this was not possible, further violating that section. Additionally, they repeatedly reference the ability to use your virtual card with XXXX / XXXX / XXXX XXXX as if that equates to product delivery. That's not a solution for people who do not have or choose not to use those applications and the myriad of places that lack XXXX readers. Additionally, point of sales frequently request PINs when using these apps. XXXX does not provide a virtual PIN and when asked about it, no representative has been able to assist, and they told me to " Wait for the physical card '' which defeats the purpose of the virtual card entirely. If I'm worried about a card not being accepted, I'm not going to use it. 

CFR 435.2 ( b ) ( 1 ) : ( 1 ) Where a seller is unable to ship merchandise within the applicable time set forth in paragraph ( a ) ( 1 ) of this section, to fail to offer to the buyer, clearly and conspicuously and without prior demand, an option either to consent to a delay in shipping or to cancel the buyer`s order and receive a prompt refund. Said offer shall be made within a reasonable time after the seller first becomes aware of its inability to ship within the applicable time set forth in paragraph ( a ) ( 1 ) of this section, but in no event later than said applicable time XXXX is out of control. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  They clearly have an excellent marketing and advertising team, which makes me believe the lack of transparency on card fees is intentionally deceptive ( No annual fees ), vice unclear. Similarly, the refusal to provide data on average delivery times is frankly unheard of in 2022 for large companies. 

XXXX lacks the ability to deliver product to customers in a reasonable time, refuses to provide updates on the requested product, and engages in dubious advertising and marketing at best. 

The following comment chain on reddit has a list of people who have waited far longer than me. ( I did not find this information until I began speaking to customer service ). Most are well over 30 days - from a cursory look averaging between 45 and 60. This makes the response to my refund request even more unacceptable. A caveat to not refunding my stake or {$50.00} was " As for the wait - unfortunately there was no way for us to predict this delay '' despite the numerous accounts of multitudes of people waiting upwards of 45 days on the day I staked. 

https : XXXX This is completely unacceptable. XXXX either needs to be required to provide estimated timelines to all their customers on the page where you go to stake for the product- akin to XXXX XXXX delivery timelines when on any product page. 

If any transcripts of conversations are required, I can provide them.