- Personal Finance»
- Income & Making Money
Things I Don't Like About Fanbox
How it started
Started fanbox Nov. 2012 and have a few issues. Got kicked out Apr. 2014
Received emails stating I was earning $5.22, $5.24 and the like. Checking the source said was recommended by a net friend. Joined and let fanbox into my email list. This is how so many got started back then.
Sounds like easy money! Then realized it was only like the 22 cents part. Turns out you get about 4 or 5% over a 90 day period. The $5 part is a loan you have to pay back. Major problem here is they charged you 1.58% a month fees. That equaling 4.74%. So the times they payed out less then that % you lost. This is only one example of the ways they kept from giving you much, if any money. Making it sound easy to earn. You have to do the math.
They give the impression that anyone can easily earn on fanbox. Members were wanting the money fanbox said they "earned". So I asked a fanbox coach how was it that a loan can be considered earning. Answer: It is some sort of accounting method fanbox uses. Fanbox then went to an "by invite only" way of getting members because they had so many upset members that were not receiving the funds fanbox kept saying they "earned". Thing is you have to pay back all the borrowed "earned" money before you get what is left. And they keep that for 90 days accruing monthly fees.
Most fanboxers do what is call boosting. You fund someone's blog or item they have for sale. That pays about 5%. You have to wait 90 days and have $25 or more before you can cash out. Costs are 3 x 1.58% = 4.74%. So when IPL is paying less than 4.74% you are actually loosing money! One way you can break this cycle is by doing the other activities to earn above the IPL fee charged. Another way is to invest your own money. Then you earn about 22% a year, if you stay away from the overpriced items and don't do ads. This is a big risk for a site that can close tomorrow.
This is a great site for good bloggers and those that are good at ads and such. It is the average fanboxer, that is funding those few. Most, I believe will loose money here. Because of the impression of easy money.
Had a blog on fanbox that explains how I see the way it really works. Got messages from other members that warned that fanbox may close my account if I bad mouth fanbox. Removed it and wrote this hub. They closed my account anyway for voicing an opinion in April 2014.
My teacher experience
When someone joins from your invite they become your student and you earn commissions. They have only paid me about $5 for being a teacher. They promised 10% for the first 6 months of my student's earnings. Students earned about $1,000 during that time. I should be getting $100. Must have been only the profits my students earned. That would be about the $5. They could have explained this and not lead you to believe you got 10% on the whole amount. Double meaning/standard for "earnings" at play.
They claimed if you did all the steps and "graduated" your earnings would double. That didn't happen. They must have left something out. I kept asking what earnings double? No answer! It could be some small part that I wasn't earning any money on anyway? They could list the areas that the "graduated money" doubled on. It sure wasn't any and all money earned.
Almost quit and loss of money earned
Was going to quit, Then tried out their new photos thing and was earning, finally. I become a power user again. Photos was added to power user. The lowest level costs $6. You get 33% back into your 90 days to mature balance.Uploaded a couple photos, earned about 72 cents a day. X 30 = $21.60 a month. Minus the $6 = $15.60 profit. Went to a higher, $50 a month, level using my projected profits of $21 a mo. The couple days I uploaded photos paid ave. of $3.30.Then the big rule changes started. Would have earned 30 x 3.30 =about $100 minus the $33 add back in the 33% rebate of $11, profit of $77 a mo.
The plan was to use the profits from a couple months to go to a higher level. The highest is $1,500. If the ratio follows the $50 level your profit will be 30 x 100 = about $3,500 a mo.All this is true only if fanbox does not change the rules like they have done so many times in the past.
Update: Rules have changed and things in this past are no longer valid. My costs have sky rocketed and profits way down. I quit spending any more money and waited out the 90 day maturing time. Paying down the loan as required with that months profits. At the end made only about $20 profit all the time from Nov. 2012 to Apr.2014.
I was charged when I shouldn't have been.
Bid on their auction items and got charges on my Paypal for bids I didn't win. When I complained was accused of trying to defraud fanbox. Checked their TOS and it stated that money would be charged only if you won the bid. So, Who defrauded who here? Took fanbox off my Paypal when they sent notice that they where going to take out monthly I'll Pay Later (IPL) loan fees. I am wondering how many others got those charges and didn't complain and didn't have their funds returned. Tried to pay the monthly fee with money that I earned. They told me you now have to have matured earnings (earnings older then 90 days) before you could use that to pay off anything. They then charged my credit card $17 without my permission. They got my info when I used the card to buy items when I tried out that "power user" thing. I did not give them permission to use my CC any time they wanted. I then changed my CC number.
More big changes
Fanbox has changed again.They are screwing up photos earnings as of Nov/22/13. Updates by fanbox president Brian Woosley, They say that too much money is going out to pay those uploading photos and videos. So now you have to spend a lot more on different plans in order for you to earn at the same rate you used to. Problem is the cost of the plans is more then you earned before. Also they plan to take away the 33% cash rebate for purchasing a power user level. This will double, or more, the present costs depending on the level you purchase. On top of that my $3.50 a day average has fallen to around only $2.25 a day. And steadily falling as time goes on.
I have wrote a fanbox blog that tells how to make $4 a day 100% free http://posts.fanbox.com/wkm66 This isn't much for those in a country like the U.S. About half the world lives on $1.00 a day or less. This will bring them that when they follow the plan. Providing the rule changes and fees don't interfere. And fanbox's stated mission "uplifting Humanity" will become a reality? for many. NOT TO BE!
Blog http://posts.fanbox.com/wkm66 no longer active:
"You are attempting to access a blog that doesn't exist.
If it existed previously, it may have been deleted by the user or otherwise removed from the system."
I did not remove the blog, So it must have been "otherwise removed from the system." by fanbox.
Forcing me to pay fees on money earned.
Also had sold a couple items and they didn't let me use that money right away to pay the 1.58% IPL fees. That 90 days rip off again. So, you don't have use of your earnings.
They make it sound like you are going to earn money by placing ads. I lost about $85 and only made back about $2.50. There have been many others that say they have lost money on ads. They used to post what ads where costing you on the day they took it out of your balance. Now it is from your sight in balances two or three months in the past. So you will not see them unless you know to go back and check. They do post on a current day when you make a little from an ad to make it appear like you are profiting because you don't see the money you actually are spending unless you know to look. Very sneaky.
Now I am being exposed as a complainer by fanbox
In one of the posts by fanbox president Brian Woosley I am used as an example of a complainer. They deactivated my account 2 days before the date on his post: http://posts.fanbox.com/t7wd6 Since they are using me as an example I think they should re-instate me account.
Account No Longer Accessible!
Put in a cash withdrawal request for the over $200 profit earned. Got an email from fanbox saying my request was processed. No money has gone into my Papal and now I am in fanbox's "guest mode". A friend said it appears my account has been removed when they tried to find me on fanbox. Went to the BBB and another on-line help site, ripoffreport.com, and reported them. Only then did receive payment. Others, in leaving comments, have said they have had their accounts closed for saying things about fanbox and not being paid also. Have been suggesting to them to do the same as I did.
I need an invite to get back in. Or Brian and company can do the right thing and let me back in. Just want to be on the social side and keep up on what is going on there. So, If anyone has an invite code please let me know.
As of Aug-1-2015 Cease and desist letters.
I have been getting These: Fanbox "Cease and Desist" letters
From: San Diego, CA 92101
Jessica Maiden <firstname.lastname@example.org>
Jul 23 2015: to me, Stephanie, mike <---and others
They want me to stop saying things that are not true. Some of the things I have said are definitely true and I refuse to edit them out of this hub. Other things I have to change. There is a fine line between legal and just not right. They send me documents to sign. The documents can't be signed because I do not have an upgraded Adobe account. $14.95 or such. I sent the following : on Jul-23-15
Send me something I can sign. That pdf you sent I have to spend money on an up grade. Send me a self stamped envelope or maybe a word document. Hubpages has already taken down my article. I have a copy and will re-use it if fanbox and you do not quit harassing me. Please read http://blogs.fanbox.com/SinglePost.aspx?pbid=2412590&post=3825907&bts=50 where fanbox has used me without my permission. I asked them to re-instate my account last April 2014 and they didn't. I want that done as part of the settlement for them using my statement in their post and putting me in a bad light.
Maybe finally a solution
Fanbox has not responded back yet. Hubpages has temporarily republished this hub only after I sent them a legal signed affidavit form they emailed me. The first one I just typed in my name where is said signature. Hubpages emailed back saying it must be actually signed. One of the options was to use a PNG format. So I downloaded the affidavit form to the windows downloads directory and opened it with paint. You can then use your mouse, or whatever, to sign your name on the line. Don't forget to type your name at the beginning, like I did. I received another email from Hubpages saying I need to do that. After sending them that PNG, They sent back stating this hub has been published subject to their review.
Let me know what problems you are having with fanbox or any help I may give.