Am owed money please help!

LXdaddy

Joewilliams1997 wrote: »

Hi there

I gave this company £1500 stocks and shares. I knew it was mistake didn't want to do it so withdrew it my £1500, but bmboption the company were taking really long so I contacted my bank visa dispute. They said becuase i gave them my bank details and it was a genuine transaction that they declined it. So now how I get my £1500 becuase bmb option are refusing to give it to me and say it's all down to my bank now. Please help!!

Joe - you are obviously worried that you have been the victim of a fraud or scam. I don't think I can give you the answer on how to get your money back because if this IS a scam or fraud then it most likely is gone and you have no recourse.

But what I can do is try and help you with the way you have asked for help. Unfortunately your emotion has probably gotten in the way of clarity in your message. I'm going to GUESS that perhaps what your post should have said was something like

I gave this company £1500 to invest in some stocks and shares. Soon after, I realised it was a mistake so asked to withdrew my £1500, but bmboption, the company, were taking a really long time to refund. So I contacted my bank visa department to open a dispute. They said because I gave them my bank details and it was a genuine transaction that they could not reverse it. So now how can I get my £1500 back because bmb option are refusing to give it to me and say it's all down to my bank now. Please help!!

As I say it is most likely that you have been the victim of a scam and are unlikely to be able to get anything done about it.

I think you might approach the police but that's very unlikely to result in any sort of prosecution if the company is set up in Dominican Republic. Trading Standards are sometimes mentioned but again it is difficult to see how they could actually do something.

I'm sorry that you have lost this money and that I can't give you any more constructive suggestions but if my edits are correctly representing your story others may now be in a better position.

While I've been typing block10 has posted some useful information.

Joewilliams1997

Many thanks for your reply. I am still in dispute with my bank with this. I am currently going through the chargeback scheme which banks offer.

I presented my bank with some new evidence and information. My bank is nationwide. I told them how I spoke to a colleague from BMBOption and they said they don't owe me nothing, and that my bank will give me the money. I took a screenshot of the chat and forwarded it to my bank.
Furthermore, I also stated how one of the companies goods and services are withdrawals. I stated that the to my bank that the company allows 3-5 buisness days which is stated in there t&c's for withdrawals. Time had past since then so I told my bank that because time has escalated, that the company has failed to deliver me there goods and services.

Surely the evidence I have put forward is a strong one?

Many thanks
Joe W

grumbler

Joewilliams1997 wrote: »

Surely the evidence I have put forward is a strong one?

Not really as it's still a mystery what exactly you "gave" to the company and what happened next.

agrinnall

I don't understand what this has to do with Nationwide, but then, all of the OP's posts are rather incomprehensible.

antrobus

DCFC79 wrote: »

Not sure how the police will help when the company is in the Dom Republic....

Actually they seem to be based in the Commonwealth of Dominica. The Domincian Republic is a different country. (Yes I know it's (a) confusing and (b) probably doesn't matter anyway.):)

http://scambroker.com/bmb-option/

Joewilliams1997 wrote: »

Many thanks for your reply. I am still in dispute with my bank with this. I am currently going through the chargeback scheme which banks offer.....

The banks don't offer a chargeback scheme.

Joewilliams1997 wrote: »

...I presented my bank with some new evidence and information. My bank is nationwide. I told them how I spoke to a colleague from BMBOption and they said they don't owe me nothing, and that my bank will give me the money. I took a screenshot of the chat and forwarded it to my bank. .....

Ah right. So some bloke from BMBOption told you that the Nationwide would cover it. That's not evidence or information. That's some bloke fobbing you off.

Joewilliams1997 wrote: »

....Surely the evidence I have put forward is a strong one?........

Evidence of what?

What you have done is transfer money from your Nationwide account to someone else. As far as I'm aware neither banks nor building societies indemnify their customers against the risk of sending money to dodgy dealers.

grumbler

antrobus wrote: »

The banks don't offer a chargeback scheme.

However, Visa/Mastercard/Amex offer it, and banks work within the framework set by Visa/Mastercard/Amex.

What you have done is transfer money from your Nationwide account to someone else.

So far there was no any information implying that it was a bank transfer.

As far as I'm aware neither banks nor building societies indemnify their customers against the risk of sending money to dodgy dealers.

True for 'sending'.
Untrue for card deposits.

antrobus

grumbler wrote: »

However, Visa/Mastercard/Amex offer it, and banks work within the framework set by Visa/Mastercard/Amex....

Correct. But nevertheless banks don't offer a generic chargeback scheme.

grumbler wrote: »

...So far there was no any information implying that it was a bank transfer....

The OP stated that "i gave them my bank details and it was a genuine transaction." I took 'giving my bank details' as a pretty clear implication.

grumbler wrote: »

....
True for 'sending'.
Untrue for card deposits.

No, I don't believe that chargeback extends to cash withdrawals. See for example, it is well documentated that if you use a debit card to load your PayPal account, the debit card issuer will decline any chargeback request in respect of any PayPal purchases you make with those funds. Because the issuer is only responsible for the initial transfer request.

grumbler

antrobus wrote: »

The OP stated that "i gave them my bank details and it was a genuine transaction." I took 'giving my bank details' as a pretty clear implication.

Possible, but inconclusive.
The only way I know for taking money with bank details is DD, but I don't think it was the case.
That said, there are some new exotic methods like Direct Bank Transfer (?) that I know nothing about.

No, I don't believe that chargeback extends to cash withdrawals.

In fact recently many punters successfully used chargeback to get their deposits back from from 666bet.com, even though the deposits were used for wagering.

See for example, it is well documentated that if you use a debit card to load your PayPal account, the debit card issuer will decline any chargeback request in respect of any PayPal purchases you make with those funds

Some bank insider that used to post here said many times that chargeback against PP was possible and not uncommon. [EDIT: this is for card transactions procesed by PP, not if you load funds to PP and then use them to pay for something. However, in the latter case we have some third party involved - unlike in this story]
I think you confuse this with Section 75 protection [EDIT: possibly, you don't].

antrobus

grumbler wrote: »

Possible, but inconclusive.

No, but it is a clear implication. Goodness knows what the OP actually did. They begin by stating they transfered £1500 of "stocks and shares" and became more confusing thereafter.

grumbler wrote: »

....In fact recently many punters successfully used chargeback to get their deposits back from from 666bet.com, even though the deposits were used for wagering....

(Scratches head,

I suppose that the unauthrosied transaction/cardholder not present route is always available. Isn't that the way those sorts of things work? Not so sure that's the case here.

grumbler wrote: »

...Some bank insider that used to post here said many times that chargeback against PP was possible and not uncommon.
I think you confuse this with Section 75 protection.

No.

Some types of purchases are not covered by chargeback, and eBay users should take note as this includes PayPal transactions.
In using PayPal, the actual act of loading the money into your account is considered to be the transaction.

http://www.thisismoney.co.uk/money/guides/article-2523075/What-Christmas-purchases-wrong-How-chargeback-help-money-back.html

grumbler

antrobus wrote: »

(Scratches head,

I suppose that the unauthrosied transaction/cardholder not present route is always available. Isn't that the way those sorts of things work? Not so sure that's the case here.

Argumentation was among the lines:

I deposited £100.
I won £200 - see a copy of my last statement.
I can't withdraw my £300 balance.
I want to get at least my deposit back as they failed to provide the services they promised.