Maxcfd withdrawing

[Timo0909]

Update: received another phone call from maxcfd. About my withdrawal request. He wanted to verify my creditcard details to be able to return the money. Sounds good so far. But then he asked for the 3 digit code (cvc I believe) on the back of my card. He needs that to be able to process my withdrawal. Didn't give that code to him. The tone of his voice changed to being angry. He would send someone fro some other department an email about this.

Small progress, but still.. So strange that they say they need my cvc to process my withdrawal.

 

[BinaryLad]

You don't need CVC to process a refund, only to purchase. Contact your card provider and get that in writing from them and pass to the "broker".

 

[Timo0909]

Received some update from them.

-------------------------------------
Dear Sir,

Good Day.

Kindly note that the £50 has been deducted because you have not used your account for trading purposes for the past 30 days prior to that. This regulation has just recently been in force.

Your withdrawal request has been cancelled automatically by our system afterwards because the amount on your account no longer tallied with the amount you wanted to withdraw.

Please note that you will have to place a new withdrawal request.

Best Regards,
Amy
Support Team
-------------------------------------

Kinda weird once again. Placed a new withdrawal request. Let's see what happens. I'm fine with getting my money back minus £50. Better something back than nothing at all. Although it's some other stupid 'regulation'.

 

[Timo0909]

Finally making some progress. Not much, but I do have info that I want to share with all of you.

Most of us received a mail upon the withdrawal request in which you need to verify yourself and send them some signed documents. I've got news. You DON'T need to sign those documents.

I received the following emails:
Begin-------------------------------------------
Good Day.

We understand that you would like a refund.

Please note that we still need you to submit certain documents in order to process your withdrawal. These are in line with our company policies.

Kindly refer to the terms and conditions as per below link for further information:-

https://www.maxcfd.com/withdrawals/
Best regards
The MaxCFD Support Department
End-------------------------------------------

First of all, they noticed after more than 3 months I would like a refund. *hooray*
Second, if you check the url they sent me it mentions the following on that page:

Begin-------------------------------------------
First-time withdrawal request.
You will need to make sure that the account has been verified before we can transfer any funds.
End-------------------------------------------

The 'account has been verified' leads you to another page: https://www.maxcfd.com/kyc-policy/

That page mentions the following about verification.
Begin-------------------------------------------
Required Documents


When you deposit funds we will require the following documents:

• Colour copy of a valid government-issued photo I.D. front and back.
  I.E. identification card/driver’s license/passport.
• Copies of your credit cards used to make the deposit.The front side with first 6 and the 4 last digits visible, back side with the CVV covered.
• Bank statement proving the ownership of the credit card.
  Must include your full name and address and be dated within the last 3 months.

End-------------------------------------------

As said, it DOES NOT mention anything about the documents Credit/Debit Card Authorisation Form F-306 and Authorisation Form I-402 -"Compliance Process Form" that they send to you upon a withdrawal request.

I received another email this morning in which they say I do have to sign these documents. I replied to them with the proof that I don't have to do that. They didn't accept the front side of my creditcard because I blurred the expiry date.

As an advice to all of you who are waiting and waiting on maxcfd. If you send them any documents, please put watermarks on it. I also blurred the document number and my citizen number on my driver licence.

I did send them a new photocopy of my creditcard with the expiry date visible. I spoke with my creditcard supplier and they told me that this is not the way it should be done, but they will block any attempt from maxcfd with taking money from my card. They will only be able to refund money to my card.

I will keep you all informed.

 

[Timo0909]

Received another email from them.

--------------------------------------
Thank you for part of the document you have sent.

We understand your apprehension with regards to the documents that we have requested. These form part of the Know Your Customer policy which are in line with Anti-Money laundering laws.

Please note that the KYC is a mandatory framework for all financial institutions which is used for customer identification process.

It is prohibited under the law to open anonymous and fictitious accounts and we need to ascertain the true identity of our customers at all times.

Moreover please understand that once the money is debited from your account, it passes through our payment processor and is blocked there until we provide them with relevant documents.

This is a means to secure payment and that is why it is crucial that we have these documents from you so that the money can be transferred to the company's account.

Looking forward to hear from you.

Best Regards,
Sia
MaxCFD Support
--------------------------------------

Looks like another dead end. Although the line containing: 'It is prohibited under the law to open anonymous and fictitious accounts and we need to ascertain the true identity of our customers at all times.' is maybe an opening. She mentions that it's not allowed to open anonymous accounts. Somehow we all did?

 

[4evermaat]

1. You do realize that MaxCFD is already confirmed scam by FPA?
2. MaxCFD just stalling and delaying playing with your emotions. Please stop playing their game. They have all the information they need to process your withdraw already.
3. I would call my credit card company and see if any recent charges have occurred.

While you are on the phone, you should initiate a charge back for the other deposits. More likely to actually have a positive outcome than continuing to play around with the MaxCFD jokers.

Quick question: If you went down to your local bank or atm, how long does it take for them to process a withdraw request?

 

[Timo0909]

I realize that MaxCFD is already confirmed as a scam.

As you can see, I created the openingspost on October 31, 2017. I've been trying to get my money back for several months now. Already tried a charge back, but they decline that. The reason they gave me was that I deposited money into an investment account. They call it a 'high risk' and that's why they don't charge me back.

I'm just updating my topic here in case I will get my refund (and the process). I'll keep in mind that the chance of receiving a refund is below 1%, but sending some emails every now and then doesn't take long.

I replied to their last email yesterday. So far no reply.

 

[Timo0909]

Oh wow, after a month finally another email from this shitty company.

They took another inactivity fee and asked me to put in a new withdrawal request.

This probably goes on till my balance is 0. They simply don't reply untill they charge another inactivity fee and after that they will send an email because I need to put in a new withdrawal request.

 

[Timo0909]

Didn't expect anything to happen.. But I finally received the remainings of my balance, which is 400 euros after receiving two times some kind of inactivity penalty. Kinda weird to be happy with not even receiving a full refund after almost 5 months. But okay.

Main thing is to not give up and keep the pressure on them. Send them emails every day, if needed multiple times a day.

If possible (I don't know how), can my topic be marked as solved?