Environmental Leader

I think it is a scam. I am very passionate about recycling and I liked the idea of recycle bank but the more I research the companies operations the bigger scam I think it is. For instance the recent video’s of presentations to some cities can know be seen on youtube. When I saw those videos I was stunned of all the play on words and figures to come up with a savings that didn’t even include what they charge. For instance, the city that recyclebank likes to brag about Cherry Hill, NJ estimates that they are saving a little over $400,000 a year. Know guess how much recycle bank charges Cherry Hill every year, if you guessed $400,000 you are correct. Here is the other thing that bugs me, the point system they got is so deceptive. They claim that each house hold can earn discount coupons that retail for up to $420 a year. Here is the catch “retail”, if you have a mail box then you are receiving coupons that “retail” for thousands of dollars a year for FREE (I get a couple of packets a year that claim over $400 in retail). Recyclebank is well aware of this fact and known’s that the majority of points awarded won’t get used. Yet another play on words to sell a gimmicky program. I think the idea of recyclebank was good but after the corporations got a hold of it the program became an absolute scam. They have raised over $45 million in funding which they have to pay back with severe interest (about 98 million in a three year period). Who do you think end’s up paying for that. I say a scam indeed.

Enviro | October 23rd, 2008