I have a problem, as my husband has a mental illness and when he is unwell he wastes money shopping or trying to go spread betting, I have most items in my name, but his account is in his name, last week he joined Plus500, online trading, he then wrote to them and told them it was not what he wanted to do, and they should close his account, they did not, he created the account and gave his card details, from what I gather........what has occurred is one of my sons got hold of his computer and made trades, he is 16, but they all made losses as he has no clue, then today I saw from his account that they had deducted £2000, and he has now just 400 in his account!!
I have been looking at the contract and have contacted the back to ask for a chargeback as they never asked for his signatures or did a credit check as this would have flagged up very bad credit for him!!
They then have not responded to my emails to them asking why they did not cancel the account, they have now sent the agreement which I find highly unfair, for instance a clause is attached :
33.SEVERABILITY
If any provision of the Client Agreement is found by any court or administrative body of
competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability will
not affect the other provisions of the Client Agreement which will remain in full force and
effect.
Their whole agreement is questionable
[plus500.com/Docs/Plus500/UserAgreement.pdf
they have also been mentioned today in the Financial times due to their unscrupulous trading actions.
I have now actioned a chargeback, but the Bank have stated they will come back and say the transactions have been made, I agree, but the credit card was not verified by them, but they placed this on the trading platform to allow access to my son, who just had to click to make deposits, which totalled £2000
I am now at a loss as to what to do, as they state in their agreement that all losses will need to be covered by my husband if a chargeback is made,
hence my question is
He is on DLA and has a mental illness, we are already paying minimum payments to creditors and now this, I have now asked the bank to issue a new card to him, and added my name to the account.
I AM SO WORRIED - I await a response which will assist me.
thanks you
I have been looking at the contract and have contacted the back to ask for a chargeback as they never asked for his signatures or did a credit check as this would have flagged up very bad credit for him!!
They then have not responded to my emails to them asking why they did not cancel the account, they have now sent the agreement which I find highly unfair, for instance a clause is attached :
33.SEVERABILITY
If any provision of the Client Agreement is found by any court or administrative body of
competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability will
not affect the other provisions of the Client Agreement which will remain in full force and
effect.
Their whole agreement is questionable
[plus500.com/Docs/Plus500/UserAgreement.pdf
they have also been mentioned today in the Financial times due to their unscrupulous trading actions.
I have now actioned a chargeback, but the Bank have stated they will come back and say the transactions have been made, I agree, but the credit card was not verified by them, but they placed this on the trading platform to allow access to my son, who just had to click to make deposits, which totalled £2000
I am now at a loss as to what to do, as they state in their agreement that all losses will need to be covered by my husband if a chargeback is made,
hence my question is
He is on DLA and has a mental illness, we are already paying minimum payments to creditors and now this, I have now asked the bank to issue a new card to him, and added my name to the account.
I AM SO WORRIED - I await a response which will assist me.
thanks you