Rant

[megamuel]

Some of you may have seen my thread a few weeks back about my dispute with interactive investor (iii). They created an imaginary price spike at 3am which stopped me out for a loss. When I tried to get my money back they wouldn't refund me so I had to write them a letter of complaint in which I asked them if they thought that the FSA and Financial Ombudsman would think their behaviour was fair and they duly refunded the loss.

At the time of my initial complaint, when they would not refund me, I asked to withdraw my funds and close my account with them, this was never done. The money from the disputed trade has now been returned to my account but I have decided that I will not do business with them anymore, so I phoned up to try and withdraw my funds a second time. Here is how the conversation went:

Cretin: Interactive Investor, Cretin speaking, how can I help?
Me: Hi, I'd like to withdraw the funds from my account please.
Cretin: Ok can I have your account number please?
Me: Yes its FS******
Cretin: And can you confirm your email address for me please?
Me: Yes its [email protected]
Cretin: Thank you, can you confirm your name address and postcode?
Me: Sam............., my address is ................. and postcode is ................
Cretin: Ok, as you've not withdrawn money before we need to call your landline to make sure you live at that address. Are you at home now?
Me: Yes
Cretin: Ok I will call you right back on your landline...
Me: Ok bye
Cretin: Bye

So I waited.... and waited.... and waited.... and nothing. After about 30 minutes of twiddling my thumbs, I called back to see what was going on:

Retard: Interactive Investor, Retard speaking, how can I help?
Me: Hello there, I phoned up about 30 minutes ago to withdraw the funds from my account and the lady said she'd call me back bu.....
Retard: (Interupts me) Can you give me your account number?
Me: Yes FS******
Retard: and your name, address and postcode...
Me: (Yawn!) My name is Sam......, address is ................, postcode...........
Retard: Ok, and how can I help you?
Me: Well I phoned up before to withdraw the funds from my account and the lady said she would call me straight back on my landline but I have not recieved a call.
Retard: Ok....... (Long pause)..... thats EC1

(At this point I wasn't sure if he was talking to me or someone else in his office so I waited in silence for a explaination of EC1!)

Retard:.............. Oh, apparently you don't live at that address.
Me: Yes I do live here, I am sat here now waiting for your call!
Retard: (Long Silence) Ok Sir, I'll call you right back on your landline.
Me: Ok bye.

(I sit and wait, telling myself that I'll go ape sh1t if they don't call back...... Landline rings, I answer):

Me: Hello
Retard: Hello, can you confirm your name address and poscode?
Me: (Slits wrists) Sam........, .................., .................
Retard: Can you confirm your business number for me please?
Me: I don't have a business number.
Retard: We have a business number for you here...
Me: Well I don't know why, I don't have a business number, only a landline which is ........... and a mobile which is ...............
Retard: Well we have a number here, it starts the same as your landline but its a bit different...... 608 or something like that....
Me: Well I don't know what that could be, I only put my mobile and my landline down as contact details of my application form......

(At this point I racked my brains to think what the number could be, and I remembered that part of the application form had a section about employment and I had to give a contact number for my boss)

Me: Could it be 0................, thats my boss' number......

(I get no reply and line goes silent and there is a very LONG pause)

Me: Hello....
Retard: Hello.
Me: (Confused) So can I withdraw my money please?
Retard: Certainly sir, is it the card ending in 4410?
Me: No, I have a new card now. I have updated the details with you already.
Retard: I'm sorry sir, I can only send the funds to the card that credited the account.
Me: Its a new card, the old one expired, its the same account...
Retard: I'm sorry sir, it has to be the same card.
Me: Well that card doesn't exist anymore, its expired! I've updated the details already on my account with you....
Retard: You'll have to post me a bank statement.
Me: Can't you just send the funds to my new card?
Retard: No, the only other thing is I can send you a cheque...
Me: Ok that will have to do then
Retard: Ok I'll sort that out for you now.
Me: Ok, thanks, bye.
Retard: Bye.

Two days later the funds are still showing in my account. Surely if he's withdrawn them and written me a cheque they should not be showing in my account and available to trade!!! So I've asked 3 different employees to send me my money now and none of them have. What can I do? I think I am going to try one more time and if I don't get them I will report it to the police I think because I'm fed up now. They have the worst customer service I have ever witnessed. Also, they are an internet based company but they do not respond to emails, how does that work?

I'm all for good security and that but am I going to have to go there myself and provide them with biometrics, DNA, finger prints and urine samples..... Actually thats not a bad idea!!!

Anyway, I am sure nobody is interested but I just had to get that off my chest and have a rant. Please if anyone knows what I can do about this please let me know because I really need that money!!!

Sam.

P.S. If anyone is looking for a spreadbetting broker, I would STRONGLY advise against Interactive Investor (iii). There are other companies with better spreads, and these guys really do have terrible customer service. Not only on this occassion, all my dealings with them I was left feeling angry and unsatisfied, hence why I am leaving them. I only chose them in the first place because when I first started I didn't know much and they were the first option that came up when I Googled Spreadbetting. More fool me.

 

[megamuel]

On reading that back it doesn't sound half as annoying as it actually was. I mean you can read that in 2 minutes, but I was trying to sort this out for about an hour... Repeating my contact details over and over again and waiting them to call me... And all for nothing, I still don't have my money. Which means I'll have to do it all again, at least once!!!

 

[Charlton]

On reading that back it doesn't sound half as annoying as it actually was. I mean you can read that in 2 minutes, but I was trying to sort this out for about an hour... Repeating my contact details over and over again and waiting them to call me... And all for nothing, I still don't have my money. Which means I'll have to do it all again, at least once!!!

Although the telephone is useful for queries I think you are better off using the written word for this particular process.

I wouldn't blame them too much for applying rigorous security methods to protect your account when dealing by phone. It is very easy for criminals to phone up to change the phone number assigned to your account, such that when the company phone you back to confirm who the caller is, the call is made to the criminal. My bank recently picked up a change in phone number and alerted me. Also for the same reason I can understand a reluctance to transfer your funds to an unknown card number.

Returning to your plight - I would suggest that you write to them asking for the account closure. Use "Signed For" post with return receipt, so that you get proof that you sent the letter and that they received it. Include in the letter any forms that they might have on their website for closure of an account. Include photocopies of your identity e.g. passport or driving licence, proof of your address i.e. a utility bill copy and a copy statement of the account to which you want the funds returned.

Add a time clause e.g. the funds must be transferred out of your card account at a maximum of 1 working day following receipt of the letter

I would also add at the end of the letter "witnessed by" and get a friend to sign it.

This way they can see that you mean business and there can be no excuse for further delay.

Don't rant in the letter and keep it as simple as possible such that the actions that they need to take are really clear and precise. The purpose of this letter is purely to facilitate the transfer.

If you want to rant do that in a subsequent letter, once the funds have arrived

Charlton

 

[megamuel]

But I never changed my phone number. I only put my mobile and landline on the application as my contact numbers. The woman must have called the wrong number the first time because I was waiting by my landline and it never rang. The guy who called it the second time got it right because it did. As for the card, it isn't an unknown card number because I updated it on my account with them about a month ago. They should know this because it would have fallen in line with the expiry date on my last card. These things happen, cards expire, new ones are sent out... They should be prepared for this. It took about 5 seconds to put the money in there. 3 weeks and counting to get it out.

 

[advfntrader]

I'm sure a lot of these companies don't like giving money back. most people lose remember so I'm sure its very rare for them to pay a lot back anyway. they will take their time over it and make it difficult so you go back online and trade and lose it !!

 

[megamuel]

UPDATE! Called them up again just now, had the most helpful and polite gentleman who was as baffled as me as to why I'd had so many problems trying to withdraw my funds. He asked me to confirm my card details and he sent me the funds straight away. Immediately the balance on my trading account went down to £0.00 and he assured me the funds would be with me in 3 days. Appologised profusely for the delay and the hassle I'd had. Its a bloody good job there are some people around like this to make up for the 3 other muppets I tried to withdraw my money with. I almost feel guilty for slagging them off so much now because this guy was so polite and helpful...... Actually NAHHH!!!!

Advfntrader I think your right, I too think they were just trying to delay the process so that I'd keep trading with them, they'd keep trying to screw me over with false pricing and eventually I'd lose my money. Anyway, I actually made money out of them in the end so happy days!

 

[Charlton]

UPDATE! Called them up again just now, had the most helpful and polite gentleman who was as baffled as me as to why I'd had so many problems trying to withdraw my funds. He asked me to confirm my card details and he sent me the funds straight away. Immediately the balance on my trading account went down to £0.00 and he assured me the funds would be with me in 3 days. Appologised profusely for the delay and the hassle I'd had. Its a bloody good job there are some people around like this to make up for the 3 other muppets I tried to withdraw my money with. I almost feel guilty for slagging them off so much now because this guy was so polite and helpful...... Actually NAHHH!!!!

Advfntrader I think your right, I too think they were just trying to delay the process so that I'd keep trading with them, they'd keep trying to screw me over with false pricing and eventually I'd lose my money. Anyway, I actually made money out of them in the end so happy days!

Good that it's worked out ok in the end.

Perhaps they read this thread :clap:

Charlton