Unsupported/Abandoned complaint - xm.com trying to scam me

[vanwambekeseppe]

I'm losing my patience. When i tell them in the email that there is nowhere stated in their client agreement that they can hold my balance for this 'verification'. They just ignore me.

I can't wait anymore, i just want my money!

 

[vanwambekeseppe]

Still ignoring, i'm sick of this ****!

 

[snapped2002]

Hey Mods, can we get an official invite sent to them from the leadership here?

@Pharaoh @AsstModerator

 

[AsstModerator]

I've been in communication with XM on the issue for over a week now. I am trying to see what can be done. I've been doing this for over 9 years now, so I think I know when the time for patience vs. the time for impatience is.

 

[4evermaat]

Even if XM paid out, I dont see how this delayed payment mentality would encourage others to trade with them.

Putting aside XM allowing the client to trade without cleared funds for just a second.....what about the profits? What is stopping XM from paying the profits of the trades? Even if there was a problem with the deposit that slipped through the cracks, why hasnt XM at least paid the amount earned beyond the deposit amount?

I'm just trying to ascertain which angle is this behavior of just cancelling profits ok?

 

[snapped2002]

I've been in communication with XM on the issue for over a week now. I am trying to see what can be done. I've been doing this for over 9 years now, so I think I know when the time for patience vs. the time for impatience is.

Fair enough, it's just that normally you announce that you are sending the FPA invite and I had not seen that here.

Cheers

 

[AsstModerator]

That announcement is normally made inside the case thread. I told the client I was in touch with XM 10 days ago. I have a new email from them. They are in touch with the client's bank and are trying to determine what happened to that small transfer.

 

[4evermaat]

Also consider: XM could have just made another charge on the credit card. The total value of the 2 charges wouldn't exceed $1 + merchant transaction fees, and it would have been 20x faster than this nonsense. If that was truly the only thing holding up the entire process, just make a new test/verification charge which would show up instantly on the person's internet statement. (might take 2-3 days to fully post)

I'm surprised the FPA is entertaining this for so long. Why are verified accounts allowed to be challenged at the time of withdrawal? They had all the time to challenge the deposit before crediting it to the account. What about the profits made on the deposit?

 

[Pharaoh]

I don't have the backend details to be certain, but I do know that even a verified account may later end up getting some extra levels of verification. One possible reason for this is if some sort of issue with the card is flagged after the account is initially opened, funded, and verified. In a case like that, the card's issuing bank itself may get involved with asking for extra security checks. These can be cumbersome and time consuming, but eventually do work out with the extra verification being confirmed or else with verification that the initial deposit was "borrowed" and thus the account was illegally funded. If the first, the funds are then payed out. If the second, AML laws forbid the transfer.

 

[4evermaat]

^^ Only a market maker could even dream to do something like that. A-booker could not afford the risk. Either the trades 'happened' or they didn't. And either the deposit is cleared or it is not.

I'll look into this a bit more. The only thing I know for sure is that a credit card deposit usually is returned to the card that was funded. Anything over the deposited amount(s) can be withdrawn via wire or another agreed method....usually wire.