Home Financial Advice The 4 pink flags of the Tranzact debit card

The 4 pink flags of the Tranzact debit card


I’ve been getting emails from a bunch of readers asking for us to do a Tranzact debit card overview desirous to know what I take into consideration the Tranzact rewards card.

I have been getting emails from a bunch of readers asking what I think about the Tranzact card. If you haven’t heard, basically it is a debit card that provides “Z-Bucks” that can be used to buy everyday items. In theory I love what Tranzact is doing, but in reality I will be really surprised if this is still around in a year.

In case you haven’t heard, principally, it’s a debit card with a constructive social impression that gives “Z-Bucks” that can be utilized to purchase on a regular basis gadgets.

In idea, I like what Tranzact is doing, however in actuality, I can be actually stunned if that is nonetheless round in a yr.

I’ve seen numerous MLMs (Multi-Stage Advertising firms) like this come and go and as a lot as I might like to see this succeed, it looks like an enormous pyramid scheme to me and so I’m passing on it.

I’ve some pals who’re utilizing it and who’re enthusiastic about it, however I at all times do my very own due diligence and go together with my instinct and I’m not feeling good about Tranzact card.

These are the pink flags and the explanations I’m passing on Tranzact (and be sure to learn til the final one, as a result of it’s the nail within the coffin for me.)

4 pink flags and causes I’m not going to get the Tranzact card

1. They discuss extra about making a living than the product itself

I take advantage of and advocate numerous merchandise which have referral applications as a result of the referral mannequin simply works.

However it’s at all times a pink flag to me with any product once they spend extra time speaking about how one can make cash from the product than the precise product itself.

It’s a clear indication of their focus.

And particularly with a doubtlessly revolutionary product like this, there ought to be much more time explaining the ins and outs of the product, slightly than simply speaking a lot about the way you make cash referring the product…

As a result of when all folks concentrate on is how a lot they will earn from SELLING the product, it’s simple to cover that the product itself isn’t really that good.

2. It’s important to pay charges to make cash

As a way to really make cash referring folks from this, it’s a must to pay $495 after which $50/m and 10% service price.

(Sure I do know that when you pay $25 to be a member you may get Z-bucks and within the subsequent level i’ll clarify why I don’t consider that to be what they’re promising.)

The 4 red flags of the Tranzact card

So, I’m a enterprise proprietor and we’ve an associates program the place anybody can be part of and refer folks to our programs.

How a lot will we cost our associates to hitch this system?


Why would we make them PAY to refer folks to us?

It is unnecessary until you really want these charges and that income to cowl the prices of the Z-buck rewards you might be paying out. And that’s the place we begin moving into Ponzi territory.

Moreover, I’ve been an affiliate and a part of properly over 100+ referral applications, and never a single one made me PAY to earn cash from referring folks… And the explanation why is that from a enterprise perspective, it simply doesn’t make sense UNLESS these charges are a main a part of your income.

An alternate instance

As a substitute instance right here, Rakuten is a cash-back app that has paid actually paid us over $3,000 {dollars} (not in “z-bucks” however in precise actual cash) over the previous couple of years.

It isn’t attempting to be a financial institution like Transzact is, however it’s fixing the identical downside: making the issues that we purchase cheaper.

And never solely is Rakuten 100% free to enroll however they provide a $30 signup bonus to hitch.

So once I see Transzact making customers pay to have the ability to refer others, it simply is unnecessary and is an enormous pink flag to me.

3. The Z-Bucks are usually not value what they’re claiming

I’m skeptical in regards to the precise worth of the z bucks.

They declare that $1 Z-buck is value $1 greenback (USD).

The Tranzact card

They will declare that they’re value $1 all they need however they don’t seem to be value the identical quantity as an precise greenback when you can solely spend it on choose gadgets.

Give it some thought.

When you’ve got a $500 reward card to Chuck E. Cheese or $500 money which is definitely value extra?

The money proper?

As a result of the methods you may spend it are limitless due to this fact making it extra precious to you.

And when you had a $500 reward card at Chuck E Cheese you’ll doubtless purchase stuff you didn’t want and even really need simply because it’s a must to use it.

However $500 money has a lot extra worth to make use of as a result of we are able to use it ANYTHING – thus making it MORE precious than $500 you could solely spend on overpriced gadgets at Chuck E Cheese.

I think it’s the similar with Z-bucks.


I’m guessing the gadgets you may really spend Zbucks on are going to be significantly restricted and inflated.

For instance, within the video they discuss how you could possibly get these knock-off RayBan Aviators for $120 Z-bucks.

Tranzact card Z club

Actual RayBans value that a lot, however yow will discover knock offs for a small fraction of that.

Tranzact card Z bucks

In truth, with only a fast search on Temu I discovered that I might get them for $7.48.

So, in that case, your $120 Z-bucks are literally value… $7.48

My wager is that every thing you may really spend your Z-bucks on is analogous and is wildly overpriced.

And eventually, the nail within the coffin for me…

4. The founder, Richard Smith, has a really shady previous

Ever marvel who’s behind the Tranzact card?

I did too. And it seems that the founder, Richard Smith, was charged with Securities Fraud in 2010, and “the costs pertained to Smith operating two Ponzi schemes, which authorities declare Smith defrauded shoppers out of ~$10.9 million {dollars} by way of.”

That’s proper there may be sufficient for me to be extraordinarily cautious of getting concerned with something he created.

I’ve since heard that he’s not the CEO, however let’s be actual. It’s very easy to step down as CEO whereas remaining a robust affect within the firm.

So, is Tranzact a rip-off?

Like I mentioned earlier than, I actually hope I’m incorrect and I hope this upends the entire banking world. That might be completely superb.

However I’m uncertain.

All that mentioned I don’t assume it is a rip-off per se, however slightly I simply don’t assume it’s really a very good deal – particularly for most individuals who pay $495 to turn into a “department supervisor”.

I might wager 98% of people that purchase that package deal will find yourself shedding cash slightly than making a living, and I’m positive Tranzact is planning on that as properly.

And like I discussed, I don’t assume the worth of those Z-bucks is wherever near the promise they’re making.

Backside line…

I’ve pals utilizing this program, and I’m going to face on the sidelines and allow them to report again to me over the months to come back.

I might like to see this be a smashing success. And whether it is nonetheless round a yr from now and I can see extra worth in it, I’ll rethink at that time.

However for now, I’m passing on it.

I might encourage you to do your analysis, be discerning, and pray about it when you determine to hitch.

Your pal and coach,

Bob sign

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