montmorencyt2w
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Spreadbetting group London Capital may have to pay up to £7.7 million to clients
- Thread starter Black Swan
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francisfinley
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tar
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:cheesy:
Sounds a bit like what happened with me and another SB. First they said it was 'FSA rules' that prevented them from paying me, then they turn round and break the 'rules', which didn't actually exist.
francisfinley
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hmm obvioulsy my legal clout isnt so hot.
they havent responded as yet.
heres a list of things i have sent and they still havent refunded.
1 copy of passport
1 photo of me holding passport
1 driving licence - paper version
1 photocard driving licence
1 duplicate bank statement
1 screenshot of that bank statement logged into the account on the web
1 photo of the front of a card on the account
1 photo of the front of another card on the account
1 screenshot of me logged into the account
I have also registered a new card on their system which is verified.
ARE THEY OUT OF THEIR TINY MINDS?
shall i just post myself in?
Why not just contact the FSA?
You are not alone. It has become very difficult and tedious to withdraw money from LCG due to they ask for unreasonable and unnecessary documentary requirements. You have to prove your identity when you open an account which is fair enough. Then you have to provide further proof when you withdraw. You get your money no problem but they make their own rules and you don't have these problems with other spreadbet companies.
Hmmmm, making it hard for clients to withdraw money. That's a big alarm bell in my book.
If it was me and I'd supplied the relevant information I wouldn't mess around, they'd be sued in the small claims court today. It only takes 20 mins and you can do it online. Unless they're complete morons I'd get my money back within 48 hours.
I'd sue for the amount of money + £250 in expenses, no point in being greedy.
If it was me and I'd supplied the relevant information I wouldn't mess around, they'd be sued in the small claims court today. It only takes 20 mins and you can do it online. Unless they're complete morons I'd get my money back within 48 hours.
I'd sue for the amount of money + £250 in expenses, no point in being greedy.
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tar
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+1
francisfinley
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Got my money back instantly into my bank after threatening court action.
They were citing ******** about fraud and anti-money laundering (please see my earlier posts). When it comes down to it these rules are just total nonsense.
Please tell anyone you know using this lot to try to get their money back if only a small portion.
They are definitely delaying payment.
I advise you all to put the word out. Something is definitely not right at LCG.
If anyone needs a copy of what I sent please PM me.
They were citing ******** about fraud and anti-money laundering (please see my earlier posts). When it comes down to it these rules are just total nonsense.
Please tell anyone you know using this lot to try to get their money back if only a small portion.
They are definitely delaying payment.
I advise you all to put the word out. Something is definitely not right at LCG.
If anyone needs a copy of what I sent please PM me.
See, court action suddenly gets their attention especially when you tell them you can sue them online and it only takes 20 mins.
But what a load of morons anyway, assuming you provided all the relevant information. I mean, you open an account with the name Frank J James and pay money from an account in the name of Frank J James at Barclays. Then some months later you close the Barclays account down and open one in the name of Frank J James at Natwest.
Then you provide them with more ID and emails and they balk saying they're scared of fraud and money laundering.
I wonder if they think that in such a case Frank J James is laundering money on behalf of Frank J James
But what a load of morons anyway, assuming you provided all the relevant information. I mean, you open an account with the name Frank J James and pay money from an account in the name of Frank J James at Barclays. Then some months later you close the Barclays account down and open one in the name of Frank J James at Natwest.
Then you provide them with more ID and emails and they balk saying they're scared of fraud and money laundering.
I wonder if they think that in such a case Frank J James is laundering money on behalf of Frank J James
I hate to side with the SB firms but most of them say at the sart "All money will be returned to source". So if for whatever reason you close a bank account (why would anyone do this anyway tho?!) and ask them to send the money elsewhere, youre always going to raise a red flag.
I cant be bothered to read all this thread but surely you just need to send them a copy of your physical statement or card? i thought all firms were happy with this.
If they just went around sending money not to source with no checks they would eventually be aiding in money laundering and then they would be swamped with fraudsters just trying to move cash about.
So if it was my firm, id prob do the same as them.
maybe you would too. Theyre a Sb firm not a bank. They set the rules, if you dont like it, dont open there. If you then start closing bank accounts, expect difficulties.
I cant be bothered to read all this thread but surely you just need to send them a copy of your physical statement or card? i thought all firms were happy with this.
If they just went around sending money not to source with no checks they would eventually be aiding in money laundering and then they would be swamped with fraudsters just trying to move cash about.
So if it was my firm, id prob do the same as them.
maybe you would too. Theyre a Sb firm not a bank. They set the rules, if you dont like it, dont open there. If you then start closing bank accounts, expect difficulties.
tar
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When it comes to Mastercard payments, many spreadbetting firms refuse to refund to the source due to their agreement with Mastercard. Spreadex is one of them for example. It seems that Mastercard's rules override money laundering rules!
francisfinley
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ah hindsight. what a brilliant thing. thanks for the advice. where were you when i opened the account?
i love the smart a rse answers like this and it only happens on t2w.
if you read what i had posted then you would have seen what information had been sent to LCG.
"if you start closing bank accounts, expect difficulties," no, in fact i wont expect it. I expect MY money to be returned to me whenever i ask, however i ask.
thanks
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