Problem I HAVE NOT RECEIVE MY WITHRAWAL OF $13000 FROM PEPPERSTONE

[FxBacon]

I have requested for 3 separate withrawals from pepperstone, dated last July 12 and 13, 2022 amounting to $7000, $6000 and $1000. But only $1000 was credited to my bank account. I have coordinated with my Fund manager immediately after the expected day lapsed and still no money was credited to my bank account on July 18,2022. My fund manager kept on reassuring me that it will be credited to my bank, just wait for about 5-7 days. But now, it has already been almost a month and my fund manager and their finance team can't even give me a clear update regarding the status of the money that was supposedly be credited to my account. They keep on sending me attachments and ARN as reference numbers but my bank told me those ARN cannot be used as reference and they have no means to check the status of the money that pepperstone have sent. My bank made it clear to me, that they don't hold funds of their clients, which Pepperstone kept on telling me that maybe my bank was holding the funds. My bank also checked with the remittance and other department if there is any incoming payments/remittance/wire transfer from pepperstone under my name, but there is NO RECORD found. What is really frustrating here, is that Pepperstone's Finance Team and even my fund manager Jack Lu insisted that the MONEY was already sent to my nominated bank, and I should make the follow ups with my Bank and not with them; that they have provided me the reference numbers already and that was all they can do, and they cannot help me any further. I told them that since they were the ones who provided me with the ARN, they can have the status of the money checked with their payment provider, and they can ask to just cancel or revert back the money and JUST make a new transaction. BUT They told me that they cannot do that BECAUSE they dont have the money already because it was successfully processed and IT WAS ALREADY WITH MY BANK, but then again, MY BANK Here in the Philippines cannot see any RECORDS or ANY INCOMING PAYMENTS from Pepperstone under my name since July 12,2022. They have stopped answering my emails, and my fund manager just told me to make a follow up with my bank, or I can file a complaint in SCB

 

[FxMaster]

I have requested for 3 separate withrawals from pepperstone, dated last July 12 and 13, 2022 amounting to $7000, $6000 and $1000. But only $1000 was credited to my bank account. I have coordinated with my Fund manager immediately after the expected day lapsed and still no money was credited to my bank account on July 18,2022. My fund manager kept on reassuring me that it will be credited to my bank, just wait for about 5-7 days. But now, it has already been almost a month and my fund manager and their finance team can't even give me a clear update regarding the status of the money that was supposedly be credited to my account. They keep on sending me attachments and ARN as reference numbers but my bank told me those ARN cannot be used as reference and they have no means to check the status of the money that pepperstone have sent. My bank made it clear to me, that they don't hold funds of their clients, which Pepperstone kept on telling me that maybe my bank was holding the funds. My bank also checked with the remittance and other department if there is any incoming payments/remittance/wire transfer from pepperstone under my name, but there is NO RECORD found. What is really frustrating here, is that Pepperstone's Finance Team and even my fund manager Jack Lu insisted that the MONEY was already sent to my nominated bank, and I should make the follow ups with my Bank and not with them; that they have provided me the reference numbers already and that was all they can do, and they cannot help me any further. I told them that since they were the ones who provided me with the ARN, they can have the status of the money checked with their payment provider, and they can ask to just cancel or revert back the money and JUST make a new transaction. BUT They told me that they cannot do that BECAUSE they dont have the money already because it was successfully processed and IT WAS ALREADY WITH MY BANK, but then again, MY BANK Here in the Philippines cannot see any RECORDS or ANY INCOMING PAYMENTS from Pepperstone under my name since July 12,2022. They have stopped answering my emails, and my fund manager just told me to make a follow up with my bank, or I can file a complaint in SCB

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[HeavenLeighRob]

Ooh - from Pepperstone, I'm interested. Please update us with more info as the case unfolds or if your money hits the bank.

 

[FxBacon]

Ooh - from Pepperstone, I'm interested. Please update us with more info as the case unfolds or if your money hits the bank.

My Bank have raised the issue and helped me with the of filing dispute claim since Pepperstone is claiming that the money was sent already and was processed successfully. My Bank have already got a resolution from VISA INC and they found NO RECORD of PAYMENT or REFUND from pepperstone in contrary to their claim and the ARN that were provided by pepperstone are not in correct format and were all made up.

 

[compu-forex]

Please can you clarify what you mean by fund manager. The term fund manager suggests that this is some sort of managed fund. Is that what you mean, or are you referring to your account manager?

 

[4evermaat]

My Bank have raised the issue and helped me with the of filing dispute claim since Pepperstone is claiming that the money was sent already and was processed successfully. My Bank have already got a resolution from VISA INC and they found NO RECORD of PAYMENT or REFUND from pepperstone in contrary to their claim and the ARN that were provided by pepperstone are not in correct format and were all made up.

So to be clear, these withdrawals were all processed as refunds to a debit/credit card made from a previous deposit?

When was the original deposits made?

Also, were any withdrawals paid via wire/bank transfer? If so, which ones?

 

[4evermaat]

@Pepperstone Support any response to this clients alleged claims?

 

[FxBacon]

Please can you clarify what you mean by fund manager. The term fund manager suggests that this is some sort of managed fund. Is that what you mean, or are you referring to your account manager?

Sorry, I mean account manager. I trade my own account.

 

[FxBacon]

So to be clear, these withdrawals were all processed as refunds to a debit/credit card made from a previous deposit?

When was the original deposits made?

Also, were any withdrawals paid via wire/bank transfer? If so, which ones?

This is where it all became confusing, with my bank and VISA too. Because when i filed the dispute claim with my Bank and VISA, my bank asked me to attach proof of transactions/refund made by Pepperstone, in which original deposits indicated where dated last February 24, 2022-March 4,2022. and the resolution of VISA Inc-- Those amounts were already credited back to my Bank Account (of course, those are for my recent withrawals before) I requested for withrawal from Pepperstone last July 11 and 12, 2022 only. Which means, those attachments were a repetition of what was processed from the previous months and not for my latest withrawal amounting to $13000

 

[FxBacon]

So to be clear, these withdrawals were all processed as refunds to a debit/credit card made from a previous deposit?

When was the original deposits made?

Also, were any withdrawals paid via wire/bank transfer? If so, which ones?

Yes, they told me that these withrawals were all processed as refunds back to the debit card i initially used to fund my trading account. It is not clear how did they processed it if it is a wire or bank transfer, because every time i asked their finance team, they only answered me "this is processed as a refund"