Quote:
Originally Posted by Tony  Hi Nattie,
This is brilliant thanks. What about charge cards i.e. American Express and Diners Club?
I haven't been able to find any specific info about "Visa Debit Chargebacks", but I am guessing that the protection is less than that offered by Section 75 of the Consumer Credit Act. The 120 time limit is for a start.
Tony |
Hi
Was wondering if you can help me with some urgent advice around the problem I am facing. If you are not the right contact would highly appreciate if you can forward me to the relevant group.
I applied with a FX broker a year back and started trading with them. So I used to fund my account by providing margin using my Nationwide Visa Debit card and then buy/sell FX based on the sums deposited with them. The FX broker is called IFOREX.com and they were based somewhere in Israel at that time and now they claim to be in Greece somewhere. Since I use to deposit my margin money with them using my Nationwide Visa Debit card, they had stored all my information. Since September of this year and until October they ended up taking chunks of money using my Visa Debit card to a total Sum of £ 20,000 . Since this card was linked to my current account with Nationwide where I had these funds, they managed to take money out. Only in October when I found out that they had taken money out without even me supplying the CVV code they said they had applied those towards some transactions which I fail to recognise.
My question is how can a merchant take money out from my card when I haven't supplied the CVV number to them . I did supply to them initially when setting up the card details with them, but does this mean that now they can use this card to debit money whenever they need. This is not right. Considering that these brokers are dodgy and they are not regulated and not in this country was wondering what are the options available to me now, to get this money back which they have taken incorrectly. Unfortunately, in this case I haven't bought any product from them which I can show that they haven't been delivered since they are just fx brokers..
Appreciate your advise
Thanks hardik