IncomeBang Review: $99 membership scheme
There is no information on the IncomeBang website indicating who owns or runs the business.
The company’s website domain (incomebang.com) was registered on the 24th September 2012, however the domain registration information is set to private.
As always, if a MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
The IncomeBang Product Line
There are no retailable products or services able to be marketed within the IncomeBang opportunity. Instead, members of the scheme are only able to market membership to the company itself.
Taken from IncomeBang’s ‘Terms and Conditions’:
IB and its IR’s sell membership to our site.
Bundled with each IncomeBang membership are advertising credits, “downloads” (no further information is provided), ebooks and website templates.
The IncomeBang Compensation Plan
IncomeBang pay affiliates $10 per new member recruited.
Additionally they also check match on the recruitment commissions of personally recruited downlines. Eg. if a recruited affiliate earns $100, the recruiting affiliate will also earn this amount.
Membership to IncomeBang is $99 and appears to be a one-time payable fee.
Despite multiple claims that the IncomeBang income opportunity has nothing to do with recruitment,
IncomeBang affiliates are unable to earn anything unless they recruit. Additionally what IncomeBang touts as sustainable residual income, amounts to nothing more than being paid on the recruiting efforts of an affiliate’s downline.
You join IncomeBang for $99, you recruit members and get paid. If any of your recruited members recruit new members, you also get paid.
With recruitment central to the opportunity and continuous recruitment of new members conditional on anyone getting paid within IncomeBang, quite clearly this is nothing more than a pyramid scheme.
Those who get in early earn the most off the recruiting efforts of everyone under them, with the admin(s) of the scheme placed right at the top.
Trouble is, as with all pyramid schemes, once the recruitment stops, so too do the commissions. And at $99 a pop, that’s probably going to happen sooner rather than later.
Ironically, IncomeBang’s company logo is a ticking time bomb…