Well poo... I guess we'll see how it goes... I may be asking for a chargeback as well.

Looking good, at least, if you're MyGallons.com

LINK

The BBB says its concerned about gasoline-hedging company MyGallons.com and its ability to live up to the advertising claims on its website. A spokesperson for the BBB tells us that the biggest "red flag" they've discovered is that MyGallons claimed (in their press release) to have partnered with US Bank. However, when the BBB called US Bank to confirm this, they found out that it wasn't true. US Bank had discussed the opportunity with MyGallons, but had declined. According to the BBB, despite the fact that they have no contractual agreements in place to process transactions, MyGallons is still signing up new customers.

Virgil27 said:Let us know how it goes. If it works, it works, and I think given the soaring gas prices its a risk a lot of people are going to be willing to take.

The charge for the membership fee came across with this information:

"MYGALLONS 609-8225801 PA"

which according to Google links up to this listing:

"Steven N Verona (609) 822-5801 114 N Thurlow Ave,Margate City, NJ 08402"

Likewise, Google links that number of "Pursue Peace Clothing" listed (presently or past) at the same address, and a who.is entry with this information:

http://www.who.is/whois-com/ip-address/zenacon.com/

From the BBB Website:

This company first came to the Better Business Bureau’s attention on July 1, 2008. According to the company's website they are offering a gas card program allowing consumers to purchase a chosen number of gallons of gasoline at the current average rate in their area. The company further claims that by investing its members money in a hedge fund the card will be good for future purchases at participating gas stations even if the price of gas should increase. There is an annual membership fee ranging from $29.95 to $39.95, depending on the program you choose. Florida corporate records show the company is located in Miami, Fl. The company’s website FAQ states that “the card is currently accepted by more 95% of the filling stations in the United States”, however on July 2, 2008 the BBB was informed by MyGallons founder Steve Verona that their negotiations with US Bank’s Voyager program have broken off and they currently do not have a vendor to process transactions with the gas stations listed on their website. Other reports indicate that similar programs instituted in the Northeast last year for pre-paid natural gas purchases resulted in several companies leaving their customers holding worthless paper. The BBB encourages consumers to carefully read and understand all of the terms and conditions of this offer. This information can be obtained from the company website: www.mygallons.com. This report will be updated as more information becomes available.

In other words, US Bank doesn't want to be connected with a company that could very likely go under quickly and no one else is willing to take the shot.

kamalktk said:Virgil27 said:More news on their <a href="http://www.mygallons.com/breakingnews.html">main page</a>.

I can't help but smile considering - at least my perspective - the FatWallet Finance forum was among the ones to get the news out.

I'm willing to give them a chance if they ever figure out this whole bank problem, but until then its a no-go for me.
man, you'd think a staff mod could link properly... virgil27 helped undead my account so leave him be!

Well, now they're giving us our membership fees back. So... there's that. I don't know what the future of MyGallons is going to hold, but I'll probably bail on it.