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  1. From the tipline:

    Hi Dennis
    I have read some of your blogs re Bartercard.
    I used to work for Bartercard in the UK. The office I worked in was a franchise although I believe it has now been sold back to Bartercard. I left on really bad terms – compromise agreement in the end. My boss at the time decided to up my sales target from £100k per month to £150k per month on – this conveniently happened as he found out that I had a miscarriage and was questioning me on my intensions of starting a family (he had already told me that he didn’t believe in maternity leave).
    The traders were treated appallingly – only trading products with the bigger traders, cash, trade splits, over inflated value on products, selling trade pounds, forging signatures on the vouchers – with or without the permission of the trader, putting payments through twice and hoping no-one would notice. It was always a case of put it through and worry about the consequences later. Complaints raised were always ignored until head office forced us to do something about it – which was rare.
    We has a filing cabinet filled with blank vouchers that had been signed by the traders so we could just photocopy the voucher and fill in the blanks. Some knew what we had done others were not informed.
    With ever increased targets account managers were forced to go along with this along with begging clients to trade items that they didn’t want “to help us out as we needed it for our targets”. Getting higher credit limits for traders knowing there was no real way of that particular trader getting out of the deficit based on the sales made from that trader.
    Some of the sales team were also guilty of selling the service with such limited information that the trader had no idea what they had paid for. Then making it near on impossible for them to cancel within the time frame to get their money back.
    I saw one of the comments around the DNET charge – This was a great tool in the office to force people to trade. There was no flexibility on this – if the trader had been open to trading but we had been unable to generate the relevant sales (a certain % of their overall negative balance – if they were in credit the DNET charge did not apply) they would still be charged.
    It was such a disappointment as in the training we were given they came across as such an ethical company with a great service.
    If any of this info is of interest to you I am more than happy to go into specifics or supply you with further information.
    I would ask that you don’t use my name if you were to quote anything though.
    Many thanks
    [name withheld]

    Thank you [namewithheld], for sharing your experiences
    There are many many many stories like this out there. “Significant growth” is unlikely to ever occur with a company with a track record like Bartercard’s in the context of the modern world where one search in Google will reveal within seconds the true nature of their business conduct. The world is now a very small place and the Barter Industry is a small industry where scams and crooks are known VERY quickly. This is a two edged sword whereby immoral and illegal practices are exposed, but it can also work the other way so that when companies fess-up, fix their issues, people can see their integrity. Knowing Bartercard’s history it would be a miracle to see then do it right, but hey, that’s their choice eh?
    In due course I’ll write more about some of these tricks and scams – some of which I knew about but some you’ve helped me learn here.
    Thanks again!

Trackbacks

  1. […] As I blogged on first release of the Prospectus, their business model doesn’t and has never made sense . . . the company has been in serious decline for the last five years; has never paid a dividend; uses its investors, staff and partners for Director’s personal gain [dare  I say, survival!]; has a string of serious international business failures; has massive off-balance debts; survives in a large part through a steady GST/VAT tax rort and is the least respected name in the barter industry from decades of aggressive, predatory and immoral conduct. […]

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