No public lawsuit, class action, or government enforcement action against MAGFAST appears in available records as of mid-2026, despite years of customer complaints about undelivered pre-orders and a store-credit program that replaced cash refunds. A search for a MAGFAST lawsuit turns up frustration, not filings. The main reason is structural: the company’s terms of service require individual arbitration and ban class actions, which makes formal legal action impractical for most customers who are out a few hundred dollars.
Why There Is No Class Action Against MAGFAST
MAGFAST’s terms of service include a mandatory binding arbitration clause and a class action waiver. All disputes must be resolved through individual arbitration conducted by National Arbitration and Mediation (NAM) in Garden City, New York. Before a customer can even start arbitration, they have to send a formal written notice by certified mail, participate in a mandatory video conference with the company, and wait 45 days for MAGFAST to analyze the dispute. Class arbitrations, consolidated claims, and private attorney general actions are all prohibited.1MAGFAST. MAGFAST Legal Terms
That procedural wall is the practical answer to why no class action exists. Each customer has to arbitrate alone, in New York, under a contract that bars them from joining forces with others in the same position.
Some customers have reported filing complaints with state consumer protection divisions, including New York’s, but no resulting enforcement action has surfaced publicly.2PissedConsumer. MAGFAST Complaints
What Customers Are Complaining About
MAGFAST sells magnetic wireless chargers and related accessories, mostly through pre-orders. Customers report waiting since 2017 or 2020 for items that never arrived.2PissedConsumer. MAGFAST Complaints The company has blamed COVID-19, supply chain disruptions, component shortages, and warehouse transitions.3BBB. MAGFAST LLC BBB Complaints Its own SEC filings acknowledge that original manufacturers “underestimated schedules and unit costs.”4The Next Web. MAGFAST Broke the Crowdfunding Mold by Turning Backers Into Believers
In April 2024, MAGFAST discontinued its entire first-generation product line along with a premium luggage range called “Heathrow,” and suspended or delayed several other products. The company acknowledged these decisions “resulted in an immediate drop in sales volume and proved disappointing for many customers, including some of MAGFAST’s most loyal supporters.”5Netcapital. MAGFAST on Netcapital Customers who had pre-ordered specific items found those products no longer existed. Others reported receiving only low-value promotional items like phone cases or cables while waiting for the chargers or luggage they had actually paid for.3BBB. MAGFAST LLC BBB Complaints
MAGFAST holds a B rating from the Better Business Bureau and has accumulated 41 formal complaints over the past three years. The BBB specifically cites the length of time the business takes to respond to complaints as a factor in its rating.6BBB. MAGFAST BBB Profile On PissedConsumer, the company has 258 reviews, with 76 one-star reviews against 125 five-star reviews.2PissedConsumer. MAGFAST Complaints
The MAGBucks Credit Issue
Rather than refund customers whose pre-orders could not be filled, MAGFAST introduced a “MAGBucks” credit system. The company described this as a restructuring measure that prevented closure, offering credits worth “double the full retail value of any unfulfilled pre-orders” toward newer-generation products.2PissedConsumer. MAGFAST Complaints In practice, customers have reported that redeeming the credits required spending additional money out of pocket, effectively pushing them to buy more from the company that had already failed to deliver their original order.7BBB. MAGFAST LLC BBB Customer Reviews One BBB reviewer noted a leftover MAGBucks balance of $73.72 after years of waiting.
This is the grievance that drives most searches for a MAGFAST lawsuit. Customers paid years ago, never received product, and were told their remedy was store credit that required yet more spending with the same company.
MAGFAST’s Refund Policy
The official policy is tight. Customers have a 72-hour window after placing a pre-order to request a full refund by email. After that window closes, no refund is available until the product has been received and returned in resalable condition. MAGFAST reserves the right to issue refunds at its “sole discretion” and states it is under “no obligation to do so” beyond the stated policy.1MAGFAST. MAGFAST Legal Terms
Even so, the company has issued full refunds to several customers who escalated through the BBB, which suggests formal complaint channels can produce results that the policy itself does not promise.3BBB. MAGFAST LLC BBB Complaints
What You Can Actually Do
If you are out money on a MAGFAST order, you have a few workable options, none of which require a lawsuit.
File a BBB complaint. The company has responded to several escalated complaints with full refunds, and the BBB record shows this is the channel most likely to prompt a direct response.3BBB. MAGFAST LLC BBB Complaints
Dispute the charge with your credit card issuer. Customers have reported filing chargebacks, though success varies by issuer, especially on transactions that are years old.
File a complaint with your state attorney general’s consumer protection division. Customers have filed with New York’s, among others. These complaints do not produce individual refunds directly, but they feed the record that enforcement decisions get built on.
Pursue individual arbitration under the terms of service. This requires certified-mail notice, a mandatory video conference, a 45-day wait, and then an arbitration in Garden City, New York through NAM.1MAGFAST. MAGFAST Legal Terms For most consumer-sized losses this is cost-prohibitive, which is why so few customers take this route.
Background Worth Knowing Before You Decide
Three facts from MAGFAST’s own disclosures bear on how much weight to give the company’s current promises of a turnaround.
Founder Seymour Segnit previously ran thingCHARGER, Inc., a crowdfunded USB charger venture that shipped over 250,000 units between 2013 and 2016 before running out of money. Not all thingCHARGER customers received products, and not all creditors were paid.8SEC.gov. MAGFAST LLC Offering Statement MAGFAST’s SEC offering statements explicitly disclose that thingCHARGER creditors and customers “might assert claims against MAGFAST,” and that there is “no assurance that the experience of thingCHARGER, Inc. will not be repeated with MAGFAST.”9SEC.gov. MAGFAST LLC Offering Statement
MAGFAST does not own the intellectual property underlying its products. That IP belongs personally to Seymour and Amy Rau Segnit, and MAGFAST holds it under a licensing contract that can be terminated if the company fails to meet minimum performance criteria.8SEC.gov. MAGFAST LLC Offering Statement
The company reported 2025 revenue of “slightly under $1 million” against a loss of $2.2 million, calling 2025 a “transitional year.”10MAGFAST. MAGFAST Investor Packet CEO Segnit has stated that sales grew 879% over the prior 12 months and that Q1 2026 revenue exceeded all of 2025.11MAGFAST. April 2026 Founder Letter Those figures are self-reported and have not been independently verified; the last completed audit covers 2024. The company had just two employees as of its most recent annual report filings.8SEC.gov. MAGFAST LLC Offering Statement
MAGFAST says it discontinued pre-orders entirely as of March 2024 and now sells only products in stock.12Netcapital. MAGFAST on Netcapital – Ask a Question For customers still holding unfulfilled pre-orders from before that date, the BBB complaint and credit card chargeback paths remain the fastest routes to actual money back.