PWCC Vault "Insurance"

CreeperKat

I had a card shipped from PWCC Vault and the recipient sent me pictures that the case was cracked during shipping. I contacted PWCC and they offered $25 to have the card re-holdered. The recipient does not want to do this and wants to return the card. Since PWCC advertises that the cards are shipped with insurance, I requested a reimbursement for the insured amount which they denied. They claim their policy is to just pay for re-holdering even though they clearly charged me for shipping insurance. It wasn't a high value card but those of you that are shipping high-value cards from PWCC Vault, be warned!

threeofsix

@CreeperKat I’m not sure I’m following..You paid for insurance but can’t file a claim?

CreeperKat

The card shipped directly from PWCC Vault where it was stored to a buyer where it arrived with a crack. USPS Insurance claim procedures online states that original mailing receipt is required which PWCC has. I feel they should file the claim since they are the shippers.

Also, this is the 3rd time a card shipped by PWCC has arrived with a crack. The previous two times, re-holdering credit was sufficient. This time it was not so I requested an insurance claim but PWCC states "This is our policy for damaged items in transit. We will give a refund of $25 to cover the reholder fees."

82FootballWaxMemorys

Apologies in advance as this comment will not be helpful in your situation.

It's not a matter of if you will get pop-tarted by PWCC, but a matter of when and for how much $

Mickey71

I wouldn't accept re-holder fees either. How do you reholder a card anymore? It's definitely more than 25 dollars when you include shipping. Plus doesn't it take a year or more? Those vaults are a court case waiting to happen. Or your cards just simply disappear.

threeofsix

@CreeperKat I understand the dynamics of the transaction… what I don’t understand is why if you paid for insurance you can’t file a claim? I mean you paid the premium for coverage, but no claim is being filed? Because they are in essence settling it with you instead? I am not sure with how insurance works in every instance, but I think you should get to file a claim. Otherwise what good is the coverage? They are basically forcing you to take whatever they offer you.

ArtVandelay

PWCC insurance.

grote15

I honestly dont know why anyone would use this "vault" service at all but to each their own. The vault doesn't sound especially sturdy at least in your experiences.

I'm sorry this happened to you. Maybe you can take the reholder fee reimbursement and reholder the card on your own at their expense, at least.

RufussCkingston

@grote15 said:
I honestly dont know why anyone would use this "vault" service at all but to each their own. The vault doesn't sound especially sturdy at least in your experiences.

some use it to avoid sales tax or because they are out of the country.

BBBrkrr

@grote15 said:
I honestly dont know why anyone would use this "vault" service at all but to each their own. The vault doesn't sound especially sturdy at least in your experiences.

I'm sorry this happened to you. Maybe you can take the reholder fee reimbursement and reholder the card on your own at their expense, at least.

They’ve also started defaulting on auctions you win to just keeping them in their vault. I recently had a couple items never show and found they kept them there. I’ve bought a lot of stuff over the years and this is new. I had them sent out immediately.

brad31

To make it right they should reholder it for you covering the insurance to ship to the TPG and re-vault it in the new holder. I am as against PWCC as anyone - but there truly is no other loss. You still have the card. A $25 check is wrong - but don’t think you are entitled to the value of the card unless the TPG says the card is damaged.

threeofsix

@brad31 said:
To make it right they should reholder it for you covering the insurance to ship to the TPG and re-vault it in the new holder. I am as against PWCC as anyone - but there truly is no other loss. You still have the card. A $25 check is wrong - but don’t think you are entitled to the value of the card unless the TPG says the card is damaged.

Yes…that was my point exactly…anything less than the repair of the original item (the full cost of the case replacement) is some sort of settlement, meaning he didn’t really have insurance to begin with!

billwaltonsbeard

@RufussCkingston said:

@grote15 said:
I honestly dont know why anyone would use this "vault" service at all but to each their own. The vault doesn't sound especially sturdy at least in your experiences.

some use it to avoid sales tax or because they are out of the country.

many people IN the country use the vault to avoid state sales tax too

82FootballWaxMemorys

@billwaltonsbeard said:

@RufussCkingston said:

@grote15 said:
I honestly dont know why anyone would use this "vault" service at all but to each their own. The vault doesn't sound especially sturdy at least in your experiences.

some use it to avoid sales tax or because they are out of the country.

many people IN the country use the vault to avoid state sales tax too

Mickey71

@BBBrkrr said:

@grote15 said:
I honestly dont know why anyone would use this "vault" service at all but to each their own. The vault doesn't sound especially sturdy at least in your experiences.

I'm sorry this happened to you. Maybe you can take the reholder fee reimbursement and reholder the card on your own at their expense, at least.

They’ve also started defaulting on auctions you win to just keeping them in their vault. I recently had a couple items never show and found they kept them there. I’ve bought a lot of stuff over the years and this is new. I had them sent out immediately.

Explain this more please. I can't figure out what you are saying. Do you have a vault account ?? You've won an auction and you want it shipped to you? Not sure I understand.

x2drich2000

I don't know for sure as I don't use PWCC, but are you sure they are using USPS insurance? For the volume, value of the cards they send, and known concerns with USPS paying out out on a claim I would think they probably have private insurance that covers the shipping and the deductible is likely a lot higher than the cost of the reholder so that would be why they won't submit a claim and have their own internal policies for handling these situations.

beachbumcollecting

no way they are using USPS insurance that is why you can't file a claim. they may charge you insurance but it is their insurance you are paying for and they are offering you a payout of $25.

82FootballWaxMemorys

@beachbumcollecting said:
no way they are using USPS insurance that is why you can't file a claim. they may charge you insurance but it is their insurance you are paying for and they are offering you a payout of $25.

Yeah seems pretty shady but so too is everything PWCC related.

CreeperKat

I learned in my discussions with PWCC that they do use their own insurance and not USPS. I was able to work with them on covering the actual cost of reholdering the card.

azvike

hope the card grades the same and there was no damage...

threeofsix

@CreeperKat said:
I learned in my discussions with PWCC that they do use their own insurance and not USPS. I was able to work with them on covering the actual cost of reholdering the card.

EXCELLENT!!! Well done! And lessons learned here!! Thanks for sharing!

BBBrkrr

@Mickey71 said:

@BBBrkrr said:

@grote15 said:
I honestly dont know why anyone would use this "vault" service at all but to each their own. The vault doesn't sound especially sturdy at least in your experiences.

I'm sorry this happened to you. Maybe you can take the reholder fee reimbursement and reholder the card on your own at their expense, at least.

They’ve also started defaulting on auctions you win to just keeping them in their vault. I recently had a couple items never show and found they kept them there. I’ve bought a lot of stuff over the years and this is new. I had them sent out immediately.

Explain this more please. I can't figure out what you are saying. Do you have a vault account ?? You've won an auction and you want it shipped to you? Not sure I understand.

It is so weird that I understand you didn’t get my post.

No. I never set up a vault account but when I’d win an auction (starting about 2 months ago) they’d automatically put it in their vault. The only reason I realized is that I began to wonder why it was taking so long for them to arrive, went to my account and realized the default was to keep them in their vault. I had to do a request to have them sent to me.

Apparently now you have to choose to have it sent to you when you pay. Otherwise it stays there. It makes me suspicious they’re keeping them and somehow monetizing the vault value. Why else would they do that?

jimrad

So let me ask this, if they are keeping it in their vault do they have a shipping charge to keep the card at their location?

1951WheatiesPremium

@BBBrkrr said:

@Mickey71 said:

@BBBrkrr said:

@grote15 said:
I honestly dont know why anyone would use this "vault" service at all but to each their own. The vault doesn't sound especially sturdy at least in your experiences.

I'm sorry this happened to you. Maybe you can take the reholder fee reimbursement and reholder the card on your own at their expense, at least.

They’ve also started defaulting on auctions you win to just keeping them in their vault. I recently had a couple items never show and found they kept them there. I’ve bought a lot of stuff over the years and this is new. I had them sent out immediately.

Explain this more please. I can't figure out what you are saying. Do you have a vault account ?? You've won an auction and you want it shipped to you? Not sure I understand.

It is so weird that I understand you didn’t get my post.

No. I never set up a vault account but when I’d win an auction (starting about 2 months ago) they’d automatically put it in their vault. The only reason I realized is that I began to wonder why it was taking so long for them to arrive, went to my account and realized the default was to keep them in their vault. I had to do a request to have them sent to me.

Apparently now you have to choose to have it sent to you when you pay. Otherwise it stays there. It makes me suspicious they’re keeping them and somehow monetizing the vault value. Why else would they do that?

I think it is just a smart default on their part. The tax savings and implications is the reason the vault exists. A card going out, even accidentally, is going to trigger a tax bill the moment it crosses state lines. I would imagine the impacted customer(s) would expect PWCC to make them whole. So, ‘nothing goes out unless a request comes’ in is just a smart, liability limiting policy.

While I wouldn’t do business with PWCC for a variety of reasons, I don’t think this particular action goes in the ‘nefarious’ pile, myself.

BBBrkrr

@1951WheatiesPremium said:

@BBBrkrr said:

@Mickey71 said:

@BBBrkrr said:

@grote15 said:
I honestly dont know why anyone would use this "vault" service at all but to each their own. The vault doesn't sound especially sturdy at least in your experiences.

I'm sorry this happened to you. Maybe you can take the reholder fee reimbursement and reholder the card on your own at their expense, at least.

They’ve also started defaulting on auctions you win to just keeping them in their vault. I recently had a couple items never show and found they kept them there. I’ve bought a lot of stuff over the years and this is new. I had them sent out immediately.

Explain this more please. I can't figure out what you are saying. Do you have a vault account ?? You've won an auction and you want it shipped to you? Not sure I understand.

It is so weird that I understand you didn’t get my post.

No. I never set up a vault account but when I’d win an auction (starting about 2 months ago) they’d automatically put it in their vault. The only reason I realized is that I began to wonder why it was taking so long for them to arrive, went to my account and realized the default was to keep them in their vault. I had to do a request to have them sent to me.

Apparently now you have to choose to have it sent to you when you pay. Otherwise it stays there. It makes me suspicious they’re keeping them and somehow monetizing the vault value. Why else would they do that?

I think it is just a smart default on their part. The tax savings and implications is the reason the vault exists. A card going out, even accidentally, is going to trigger a tax bill the moment it crosses state lines. I would imagine the impacted customer(s) would expect PWCC to make them whole. So, ‘nothing goes out unless a request comes’ in is just a smart, liability limiting policy.

While I wouldn’t do business with PWCC for a variety of reasons, I don’t think this particular action goes in the ‘nefarious’ pile, myself.

I think you’re right and understand why they do it. I just never signed up for the vault service but all the sudden I had one and they were stashing cards there.

Tabe

@beachbumcollecting said:
no way they are using USPS insurance that is why you can't file a claim. they may charge you insurance but it is their insurance you are paying for and they are offering you a payout of $25.

Even if they were using USPS, OP couldn't file a claim. USPS claims have to be filed by the shipper - PWCC, in this case.

Tabe

@CreeperKat said:
The card shipped directly from PWCC Vault where it was stored to a buyer where it arrived with a crack. USPS Insurance claim procedures online states that original mailing receipt is required which PWCC has. I feel they should file the claim since they are the shippers.

Also, this is the 3rd time a card shipped by PWCC has arrived with a crack. The previous two times, re-holdering credit was sufficient. This time it was not so I requested an insurance claim but PWCC states "This is our policy for damaged items in transit. We will give a refund of $25 to cover the reholder fees."

Somehow this response doesn't surprise me at all. Scummy response from a trash company.

82FootballWaxMemorys

@CreeperKat said:

Also,** this is the 3rd time a card shipped by PWCC has arrived with a crack**. The previous two times, re-holdering credit was sufficient. This time it was not so I requested an insurance claim but PWCC states "This is our policy for damaged items in transit. We will give a refund of $25 to cover the reholder fees."

I'd wager the PSA cases are not being cracked/damaged in shipping but rather via callous,careless,cavalier handling by PWCC

IMHO, severing ties with the firm in question is likley the only way to avoid 4th and future incidents

craig44

It still amazes me that people continue to do business with PWCC after all we have learned about them. I have shipped thousands of cards over the years and have had one cracked slab in all of them. to have 3 in the short time the vault has been around is very suspect.

junk company.