About

While shopping on an online marketplace attempting to purchase equipment he needed for his business, he was scammed — planting the idea that there had to be a better way to send and receive money safely, and thus CashBox was born.

His story:

He connected the online seller through email initially and that eventually lead to a phone call to set the specifics up for a meet-up. He intially offered to send the seller the full asking price to ensure the piece of equipment would be his. The seller insisted that there was no need for that and that he only send a deposit of half in advance, and they could exchange the balance face to face. He agreed and sent the half payment.

Once the deposit was sent, he called the seller back to confirm receipt, only to find that the number was disconnected! After attempting several other ways to contact the seller with no success, he reached out to the money transfer platform he used, and they advised that once the money is sent, it’s gone forever.

He came to the realization that his money had no protection. That was a hard pill for him to swallow. He then contacted his financial institution and they were unsuccessful in assisting him.

At that moment, it dawned on him that he had been scammed. In the end, he never received the product or his money back. Frustrated and discouraged, he retraced the steps of the transaction trying to figure out how he could prevent this from happening again. Out of this came the idea of Cashbox and ultimately the virtual safe, which will help not just him, but users everywhere to not lose their money to scammers. fraudsters and the like.