ElectMoney may look like a great GPT (get-paid-to) site - what the homepage says may sound friendly and helpful, and the "fraud policy" may sound convincing. But don't be fooled by all that. You'll get paid $100 just for signing up? No chance. In fact, almost everything that's being said on the site is made up to appear believable. None of this is real. There are so many fake sites just like this one out there, so I hope my Elect Money review will help you spot some of the typical "red flags" to avoid wasting your time with the wrong sites. And I'll show you a better sustainable way to make money online rather than relying on GPT sites.
Elect Money Review
Fake reward site
ElectMoney LLC / ElectMoney, PTY (Fake companies)
Free to join
What Is Elect Money?
ElectMoney.com is a fake reward site. It claims to pay users unusually high rates for carrying out simple tasks, but none of the tasks listed on the site is really a "task". They are all fake sweepstake (prize competition) offers in the name of a survey, run by unknown advertising companies. Each and every sweepstake requires you to fill out your complete personal detail, i.e. full name, email address, street address, phone number, date of birth, and so on. And your detail will be sold to third-party ad agencies. It means sooner or later, you'll start to receive spam emails, unsolicited calls and text messages from companies that you've never heard of.
The "prizes" are very unlikely to exist because none of the offers is backed up by the purpose of the promotion.
As for the payment - ElectMoney will never pay you a dime because the system is sneakily designed not to. As you complete these "tasks", your account will surely be credited. But you'll only become eligible for the payment when you've cleared certain criteria, which
The tasks are not real tasks and you're not contributing anything money's worth anyway. So effectively, you'll be fooled to sell your personal data for nothing.
Why Is ElectMoney Doing This?
ElectMoney's only aim is to get users to sign up with these fake sweepstakes. Each time a user signs up, their personal data is sold and ElectMoney will receive a small commission from the ad agency. But the commission rate is so small that it needs as many users to sign up to make decent money. So you see, it deceptively claims to pay a lot of money to attract new users and also claims to pay the existing users extra money for inviting others.
Unrealistic Reward Rates
Typical pay rates offered by a legitimate surveys-for-cash site are ranging from as low as $0.05 - $0.60 for answering a survey. So you see how unrealistic and impossible the rates Elect Money is offering...such as;
- $100 just for signing up.
- $35 - $150 for answering a fake survey and entering a sweepstake competition.
- $40 - $80 for posting a video on YouTube, Snapchat, or TikTok, promoting ElectMoney.
- $40 for posting a positive recommendation on other social networks.
- $15 for inviting someone else to ElectMoney.
If you stop and think about it, you'll probably know this is far good to be true. Elect Money is free to join, and it claims to give you $100 cash just for joining. Are there any businesses that pay real cash just for joining? No way. There may be a lot of cash-back offers. A lot of service sites may give you some cash credits. But you'll only be able to use the credits when you spend money. No one gives out free cash to random users, money never comes out of nowhere!
What You Don't Know Is...
When you've signed up with ElectMoney and logged in for the first time, you'll be prompted to enter your preferred payment method. It claims to pay you via PayPal, Cash App, Venmo, Bitcoin, or Mail Check.
What you don't know until you actually sign up with ElectMoney is that you'll only become eligible to withdraw your earnings when all of the following are completed;
- You placed your referral link on social media and the link's been clicked 25 times.
- You've successfully got 5 people to sign up with ElectMoney.
- You've completed 6 tasks.
- You've posted 10 social media posts (Facebook, Instagram, Snapchat, YouTube, or TikTok.) that promote ElectMoney.
If you think it's pretty tough to clear them all, there's actually a critical problem. The last criterion - making 10 posts - is impossible clear because the actual ElectMoney platform will only allow you to post up to 6 times.
Why Won't ElectMoney Pay?
ElectMoney won't pay because simply there's not enough money to pay. As I explained earlier, each time you complete a task, i.e. sign up with a fake sweepstake, ElectMoney will receive an affiliate commission from the advertising agent. This commission is usually no more than a couple of dollars. How on earth can they pay you $35+ when they only make $2? They can't.
All The Red Flags!
The homepage says ElectMoney has "paid" the members over $9.7 million, that's is an astonishing value. Half a million transactions have been made to 300k members... Of course, the numbers are all fabricated and the red signals are all over the site. Now I'll explain some of the typical examples often seen on similar scam sites.
If ElectMoney was capable of handling millions of dollars, the company information should be transparent. But no address, location, or contact detail can be seen on the homepage.
The Terms & Conditions page (https://electmoney.com/terms) says the company is "ElectMoney, PTY" and it's located in Melbourne, Australia. It's not showing the exact street address, and Melbourne is a big city.
Moreover, the Terms page says that the page was last updated on "May 14th, 2019". But the domain registration document proves that the site ElectMoney.com was only created in October 2020 and privately registered via NameCheap (a discount domain registry agent.)
All this means that no such company exists, and all the legal information on the Elect Money site is fake and invalid.
It Never Explains How It Really Works
The "FAQ" says ElectMoney is a social network "dedicated to helping people make money on social media platforms." But this doesn't really make sense. According to Datareportal, there are 4.48 billion social network users across the globe as of July 2021. Billions of business users thrive to share links, upload videos and promote themselves to generate revenues in all sorts of ways. Here, ElectMoney says it's giving money to some random users for sharing links and answering silly survey questions. There's no credibility or whatsoever in the claim.
The FAQ page also says "many big-name influencers on social media work for us." But it never says who, for example. So you see these are all false statements.
The homepage displays "what the current members think" of Elect Money - it's also all proven to be fabricated because the photos are not real - they're stock photos from a royalty-free image site, Pexels!
Security Breach - Be Warned!
So you know that those reward /get-paid-to sites that offer that kind of money out there are all likely to be a data harvesting scam. They falsely claim to pay a lot of money for submitting your full personal data, which they'll sell to third parties.
You'll be lucky if you're just receiving spam emails and nuisance calls/text messages. The real problem is, you never know who's passing on your detail to who. It may end up in the hands of hackers or criminals down the line. The last thing you want is your name & address to be used for malicious purposes, e.g. to borrow a large amount of money by someone else, or money laundering. It may be unlikely to happen, but it's always a possibility. So don't give out your detail via dubious sites that you've never heard of. It'll do more harm than good!
Elect Money Pros and Cons
Elect Money Review - Conclusion:
ElectMoney is a fake reward site. Stay away from this one or any similar sites that offer high rates of rewards for easy tasks. But if you're looking for legitimate reward sites, you want to remember that you'll never really earn more than pocket money. The jobs may be easy but it may take you hours of clicking just to earn a dollar.
If you're seriously looking to make money online, the only way is to run your own business - it doesn't mean you have to have corporate knowledge or skills. Anyone with no previous experience can start learning basics, building their own website or creating their first YouTube channel to start making money as an affiliate. Nothing's going to happen overnight, but the more time and effort you put in, the more revenue you'll earn in time. If you're interested, join me from the link below.