Withdrawal issue with IG Index

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cryten

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I'm so angry, I lost my wallet which contained all my bank cards which were both registered to IG Index.

I registered my replacement card with them and advised I wished to make a withdrawel.
They advised due to FSA blah blah they need to see a bank statement which shows my Name, address, original purchase with them and....here is where the problem lies the statement needs to show the full card number next to the transaction to proove it comes from that card but neither of my banks show the full card number on these things! Natwest just show the last 4 digits and barclays just states "card purchase"!

I went to the bank and got the printout for the transaction they needed, this was not suffiecient so as they advised I logged into my online banking and took a screenshot of my statement with the transaction but again this only shows the last 4 digits of the card and that was again refused by IG Index.

I complained to the compliance department that they were in effect stealing my money as they were asking for something that cannot be obtained!

They contacted customer services who sent me an email stating they would refund my money after all by bank transfer.

Only I get a statement from IG today saying the transfer has been cancelled and I logged in to see my funds back in the spread bet account.

What the heck can I do? Small claims court? I asked natwest to print off a statement to show my full card number and they cannot do that!
 
Just be careful because if you lose or have your cards stolen it may be impossible to get your money back!
 
cryten said:
Just be careful because if you lose or have your cards stolen it may be impossible to get your money back!
Click to expand...

I wonder if you could have withdrawn money back to your card account even though you had reported it lost/stolen..
 
donaldduke said:
I wonder if you could have withdrawn money back to your card even though you had reported it lost/stolen..
Click to expand...

I thought of that and IG refunded to the card but my bank refused it.

Thank you for the suggestion though especially as i did not think of it till the day after.
 
Last edited:
Spoke to CS and she is investigating why the transfer was cancelled after being agreed by compliance. Will update as I go.
 
It would appear that the service you receive is directly related to the person you get at the other end of the line.
I had a similiar experience where I lost my cards, Phoned IG to change my details which they duly did 2 days later I made a withdrawal with no problems at all.
I am trying to rememmber the name of the person I spoke to, If it comes to mind will send you a message, but I do remember it was someone on the Australian desk.
 
Ok just got a call back from IG. They have advised it was an error on the accounts department and as a gesture of good will they will TT same day into my account free of charge.

I won't fully count on it until I see the money in the bank. Hopefully this is now resolved as I have no complaints with IG as a spread bet broker but if I use them again I will send a wire instead of debit card deposit.
 
gamma said:
It would appear that the service you receive is directly related to the person you get at the other end of the line.
I had a similiar experience where I lost my cards, Phoned IG to change my details which they duly did 2 days later I made a withdrawal with no problems at all.
I am trying to rememmber the name of the person I spoke to, If it comes to mind will send you a message, but I do remember it was someone on the Australian desk.
Click to expand...

I know I was very upset yesterday and may have included "Computer says no" in my email to customer service and the day after my transfer was cancelled :eek:
 
Just checked online banking and the funds are finally there now. Been on this since last week so can chill now.

I still recommend IG as a broker, never had a problem before now and will think hard about staying with them or giving Dealing Desk a go... or perhaps maybe both :)
 
cryten said:
Just checked online banking and the funds are finally there now. Been on this since last week so can chill now.

I still recommend IG as a broker, never had a problem before now and will think hard about staying with them or giving Dealing Desk a go... or perhaps maybe both :)
Click to expand...

Have a look at prospreads, it is DMA but it accounts like a SB platform
 
u could scanned your card showing the name and the number
 
tar said:
u want to withdraw by bank wire i thought u want to whithdraw to a new credit card ...
Click to expand...

I wanted to withdraw anyway possible but as I lost the card that IG wanted to refund money to we had to come up with another way and that other way is what all my posts here are about.
 
cryten said:
Thanks Tar,

"Negative account balance protection *

At OEC FX, your risk is only limited to funds on deposit. " (y)
Click to expand...

I was refering to Futures trading commissions compared to Prospreads like FTSE or Oil , OEC FX is a white label for Gain Capital ( Forex.com )
 
tar said:
I was refering to Futures trading commissions compared to Prospreads like FTSE or Oil , OEC FX is a white label for Gain Capital ( Forex.com )
Click to expand...

ohhh lol

Ah right I had a dabble with the FTSE but my strategy is much more effective on fx. They say the FTSE is much "easier" to trade but I couldn't get on with it :LOL:
 
cryten said:
ohhh lol

Ah right I had a dabble with the FTSE but my strategy is much more effective on fx. They say the FTSE is much "easier" to trade but I couldn't get on with it :LOL:
Click to expand...
If u trade good size u can go with FX futures at this offer from OEC , commission on B pound is 2.1 $ per side = 4.2 $ round turn = 0.67 pip for one lot British pound , but on Prospreads if u want to trade B pound futures u will pay 1.6 pip per side = 3.2 pip for every trade !!
1 lot B pound futures = 62500 pound
 
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