NO they haven't.  I missed notifications of the thread update otherwise I would have posted back sooner

CaVirtex is now claiming that they were actually calculating dormant activity fees the whole time, but not charging them because of their own "development priorities".  So all of a sudden in october it suits them to start charging, so they back-charge at todays rate rather than the rate at each of the dormant months that they were supposedly calculating.  Totally fucked. 

Obviously they had an opportunity to clarify that in their announcement on the oct 15th but of course they didn't, saying only "This announcement is to notify all users that we will be commencing the billing of dormant account fees on October 23 2013 at 11:00AM (MST)."

Again they also had an opportunity to email a notice to dormant accounts but this wouldn't net as much $$$ so they didn't.  They ALSO had an opportunity above to clearly state that that is what accounts for the 4BTC fee and they didn't

I'd also like to point out that they had an IPO for Havelock a while ago but then announced at the beginning of october that they couldn't deliver on their (first??) dividend (http://blog.cavirtex.com/announcement-ceo-joseph-david) which included this as one of their two points:


Smells to me like they are growing unsustainably and/or mismanaging finances and have to pull cashgrabs like these. 

If they can't manage to run an exchange that is popular and well used and has already high fees without pulling shit like this then something is seriously wrong.

I apologize if this isn't an appropriate place to post this message (and if not, of course it should be removed).

I have opened a ticket several days ago through CaVirtex's support system and have yet to receive a response on this:

On Oct. 30th I was charge an account inactivity fee.  I understand that this fee was stated in their TOS since the beginning (I signed up in June 2011) and that they simply hadn't started applying the fee.  On Oct 15th they announced the commencement of this fee on their announcement page but not via email, even though they have sent announcements via email about fees etc as recently as July.

Their TOS states that the fee would be $50 CAD/month withdrawn as BTC.

Despite this, on Oct. 30th they withdrew -3.99 BTC as an "Inactivity Fee"

Here is a screenshot:



MY MAIN ISSUE is that $50CAD on Oct 30th should have been around .15 BTC but they have taken ~26x times that and they have not explained this issue even though I opened a support ticket on Nov 6th.

MY SECONDARY ISSUE is that I don't feel that they have enacted these inactivity fees in good faith.  I understand that they "are not a bank", fair enough, but their system is obviously capable of sending emails about accounts entering inactivity status, and it is aware of which accounts would be approaching a fee deadline.  And of course they have sent fee change email notifications in the past, and in the user settings they have an option (defaulted to on) for bulletin emails.

CaVirtex/Joseph David/etc:  PLEASE follow up on this ASAP, especially my main issue.  I feel like a response out in the open here is most appropriate as I think these are serious issues and your treatment of them should affect your trustworthiness within the community. However,  barring that, I have an open support ticket that Allison responded to (26.5 hours after opening) where she only responded with a repost of the announcement and totally ignored the fact that the main issue is that you hugely over-charged me. My follow up messages have gone unanswered.

Thanks.

I too have a serious problem with this that I posted about as the last post here:  https://bitcointalk.org/index.php?topic=325980.0

Furthermore, not only did they charge this fee, but instead of charging me $50 they charged me 4BTC. I contacted support and they gave me  the "we are not a bank explanation" but totally failed to respond about the huge over charge.

What can we do about this?  Can anyone confirm that this inactivity fee was in the TOS since the beginning?

My biggest complaint is that I think they willfully decided against emailing out with this announcement.  I have received other announcements by email from them and there is a setting in the account prefs that defaults to "Include my address when sending bulletins"

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.