Post
Topic
Board Service Discussion
Re: CAVIRTEX - CANADIANS, STAY AWAY.
by
abababab
on 07/11/2013, 04:00:27 UTC
Warning: Today I noticed that CAVIRTEX has slyly implemented an inactive account fee. 

Their TOS states that you will charged $50CAD per month if your account has not had any trades for a year.  This charge will be made in BTC until your account becomes empty.  I received no email notification about this, even though I have notification emails enabled (the default setting).

To add insult to injury, the inactivity fee listed in my account transactions is -4BTC.  It was made on October 30th, and from a quick check of historical charts it looks like the trading rate was about $210 that day.  At that rate they have charged me a fee of roughly $840 for my inactive account.  I have already opened a support ticket and I am crossing my fingers that it is a mistake.

I feel that if they were implementing this inactivity fee in good faith they would have sent many emails leading up to the application of this fee.  I also feel like your account should receive a warning every month leading up to the date the fee is applied.  There is no way to look at this situation without seeing it as them taking advantage of people who are not active traders and who are instead relying on them to keep their BTC safe.

I have held BTC with cavirtex since mid 2011 when they went live.

I wanted t post this in the "official" cavirtex thread (https://bitcointalk.org/index.php?topic=218435.0), but because I have just created my account I can not do so.  I am eager to hear Jack Lewis or Joseph David's response on this matter as they seem to pride themselves as being entirely above board and interested in maintaining a good relationship with the community.