Is KeyForCash.com A Scam?
I know many of my long time readers may shake their heads and wonder if I left my memory in one of the moving boxes when they see this review of a typing data entry job, as you all know my feelings on data entry work at home opportunities in general. But if you look closely, you'll notice I do note there are legitimate ones out there, it is just the unsavory ones have put a bad taste in my mouth.
What is Key for Cash?
This is a data entry services company where businesses who need help with data entry hire them to get this work done. The folks entering the data are called “keyers.” Get it? “Key” for Cash? You sign up for free, take evaluation tests and then when accepted you get work. The work is on their server, so there is nothing sent back and forth, which can be a hassle. When you log in, the available work is there for you, so you click on a job and do it. There are screen shots of whatever it is they want entered, and you type it in. They do not advertise, all of their workers come from word of mouth, which is a good sign, as we all know the scammer data entry jobs advertise like crazy and promise you everything and give you nothing but a hole in your bank account.
How do I get a job with them?
You sign up for a free account, and then go the evaluation center. There are three tests you have to take, so they can get an idea of how accurate you are with “keying.” That puts me out right there, as my backstroke key gets a lot of work. They are looking for speed and mostly accuracy. You really need to score 95% + to have any chance of getting hired. You can take the test again, some people have even used a variety of email accounts until they master the art of taking these tests. Once accepted you get an email telling you you passed and then you wait for another email telling you they have a spot for you in their workforce.
I have to mention here, that it can be hard to get the required grades on these tests. They can be picky because they get so many applications, they can wait for the most accurate and speedy typists. In addition, it can take months and months to be offered a job, if ever. So don't be thinking that if you ace these tests you will be ready to work the next day.
Is there a lot of techno stuff I need to get before working for them?
What are the hours I would have to work?
You can pretty much work whenever you want, for as long as you want which would be great. But the problem is, there might not always be work available for you when you log into the system. From what we’ve been able to gather there are certain times of year that makes a big difference. This company seems to have most of its work from February to June or July. Tax season brings in customers.
What kind of pay are we talking about?
What they do is pay per 1000 key strokes, and they have to be accurate key strokes. That number meant nothing to me, so I tried to see if I could wrap my head around it somehow, so bear with me as we work it out together. If I wrote a 300 word article and you figure an average of 4 letters per word, that would be 1200 key strokes. Most data entry jobs involve a lot of numbers so 52.34 is 5 key strokes you need 200 of those numbers to get to 1000. I don't know, it is still hard for me to get a handle on, but it gives us some idea. A whole lot of typing…
Unfortunately, the the pay per 1000 strokes has gone down and is jumping around like Mexican jumping beans. Here is the scoop, when the company first started back in 2001 they were paying 80 cents per 1000 keystrokes, then it went down to 50/1000 and then for a long time it was 40/1000. But in the past year or so it has gone down to as low as 20/1000 strokes. Currently is is going up, but it seems to change by the day. It looks like they are moving towards 30/1000 but that is just what it looked like to me as I read the chitter chatter about the pay changes.
In the grand scheme of things if it was 30/1000 keystrokes, then that 300 word article or those 200 numbers I talked about before would be then about 30 cents. A whole lot of typing, to be sure.
How do you get paid?
It looks like you get a check in the mail, without signing up you can't see the terms, which it too bad from where I sit, I want to have the whole picture before I sign up for something and hand over my email address. But the good folks at WAHM have an entire thread on this company, and they only talk about getting a check in the mail. Makes no sense to me why they don't use Pay Pal, but that's just me and I have gone on and on about this in the past. For all I know they do offer other payment options but it wasn't apparent in my research. At the end of the day, money is money.
Along with those lower fees, they made some other changes that are good I guess to balance things out a bit. Back in the day you used to have to meet a $50 threshold and they paid once a month. Now the threshold matches the pay, If you get paid 20/1000 your threshold is $20, if your pay is 30/1000 your threshold is $30. They now make pay outs once a week. If the threshold is not met, it carries over to the next week
It should be noted you’re not really an employee of the company. You’re apparently an independent contractor (IC). You can read our work at home taxes article here to get a better picture of how this works if you’re confused. But most work at home companies work like this.
Can you make any “REAL” money with this at this pay scale?
At one point people were saying they could make around $200 a week during tax time. Others have said they barely meet their threshold. Either way, this would not be what you call sustainable income, particularly if they keep the payments so low, but you know what I always say, at the end of the day, a penny is a penny. But everyone has different needs. You basically have to decide for yourself if it’s worth the effort.
Now that we have established that Key For Cash is a legitimate company and how it all works, lets get into the things I don't like, as we all know there is nothing that is perfect when it comes to work at home or any work for that matter. So here are the things that struck me a negatives.
- This up and down payment thing is at the top of my list. It looks to me like they are trying to find the level where their workers are satisfied and not filling up forums and their Inbox with complaints. It also looks to me like they are trying to see if they can get away with not having to get back to the 40/1000 range that people were more or less satisfied with. Probably less, if you are me but, even 50/1000 sounds low to me!
With all of this up and down on fees, and weekly payouts it makes no sense to me whatsoever why they are still dealing with checks and not using PayPal. It would make their life so much easier, and give their members quicker payouts, I guess they have their reasons, but they really need to get with it and join the 21st century.
- With most of Key For Cash’s work coming in the tax season, it creates a couple of problems from where I sit.
1. If you apply in the fall, you will wait months before being accepted to work You tend to lose your excitement for a company when it takes five months to hear back from them.
2. This looks like a boost to income, not steady work. You will earn some extra dollars for a few months, but will have to so other things in the off months as there just will not be much work.
- I did read some complaints here and there about folks not getting paid when the threshold was $50 and getting no response to emails. But for each of those there were a bunch of folks piping in and telling those folks they must be doing something wrong as they get paid all the time. From my experience I’ve seen this happen with other work at home companies that I’ve personally recommended. There are always a few straggling complainers or people that fall through the cracks for whatever reason. Sometimes it’s totally not their fault and other times they have violated some rule. You have to take these reports with a grain of salt. In my scam video I always advise that folks compare the number of consistent complaints verses the praises and accolades. If most people seem to vouch for a given company and you only find a few complaints here and there. The odds are in your favor and it’s worth giving a company a shot. However if there are far more number of complaints then there are praises, then it’s not worth the risk.
So that's pretty much all I can dig up regarding complaints or cons for this company. I'm sure those of your who have worked with the company may have more to include in this area. So feel free to chime in below.
If Key for Cash is not a scam, it is worth it?
At the end of the day it appears that Key For Cash is legitimate. But in my experience there are going to be some of you who don't think it's worth your time, blah blah…. Ultimately that's something for you to decide based on your situation. I'll be honest, I'm biased when it comes to making money online. After all I earn nearly 5 figures per month and I still do opportunities that pay me a few cents such searching the web, taking polls,etc. But those opportunities aren’t really time consuming and I do them when I have some down time like watching TV. I’m all about multiple streams of income but not at a cost where it doesn’t add up for your particular situation and needs. That’s for you to decide, so to each his/her own and more power to you.
In any event, I am interested in hearing from any of you who have experience with this company. Feel free to fill us in on some of the details about this company or anything we got wrong. I was really annoyed that in order to get to their FAQ you had to sign up, so there might be things I missed along the way.
Well that’s pretty much it for me folks. By the way we do list data entry type of jobs here and they don’t cost you a dime. Just thought you should know.