FX Primus - are they stealing money?

frarod

Recruit
Messages
5
I have to ask this question. Is FX Primus stealing money?

I was informed that they have closed all Australian accounts and requested Australian customers to withdraw their funds. Having filled out the withdraw application, the fund transfer is attempted. Fees are charged, but the transfer fails. An explanation is received for the fees, but it doesn't look right. When requesting evidence and further information of the fee (via correspondences to/from the banks), I received a information form from a bank that was not involved in the transfer (BTW, info forms are not evidence of any communication between the parties). With this lack of evidence, I have requested reimbursement for the loss and a full list of all the information that is required for a successful transfer. After all, we don't want to make this mistake again. Silence..... Despite repeated emails, no response. Are they waiting for me to just send the same info again so that I can be charged "fees" again. Given that no evidence has been presented to me, have they just kept the money for themselves and claimed it was fees? So I ask the question again, is FX primus stealing money via this scheme?
 

stevendefool

Recruit
Messages
2
I have to ask this question. Is FX Primus stealing money?

I was informed that they have closed all Australian accounts and requested Australian customers to withdraw their funds. Having filled out the withdraw application, the fund transfer is attempted. Fees are charged, but the transfer fails. An explanation is received for the fees, but it doesn't look right. When requesting evidence and further information of the fee (via correspondences to/from the banks), I received a information form from a bank that was not involved in the transfer (BTW, info forms are not evidence of any communication between the parties). With this lack of evidence, I have requested reimbursement for the loss and a full list of all the information that is required for a successful transfer. After all, we don't want to make this mistake again. Silence..... Despite repeated emails, no response. Are they waiting for me to just send the same info again so that I can be charged "fees" again. Given that no evidence has been presented to me, have they just kept the money for themselves and claimed it was fees? So I ask the question again, is FX primus stealing money via this scheme?
You are not alone. I requested a withdrawal of USD 703.61 on the 22nd June 2015. After a week they told me my withdrawal was rejected and the amount credited back to my account was only USD 567.61. Where did the USD 136 went?? So what I did was I went to my local bank to ask whether any incoming funds to my account was rejected but my bank told me they can't check on it and only the sender will have the notice of rejection. I have emailed them to show me the breakdown of "fees" and also the notice of rejection from their bank but they have not got back to me yet. Seems like their trying to evade questions.
 

Pharaoh

Colonel
Messages
19,828
Send emails to every address you can find for FxPrimus. Invite them to this thread to explain the issue.

There's also no rule against getting in touch with ASIC while waiting for FxPrimus to respond.
 

frarod

Recruit
Messages
5
Send emails to every address you can find for FxPrimus. Invite them to this thread to explain the issue.

There's also no rule against getting in touch with ASIC while waiting for FxPrimus to respond.
Thanks Master Sergeant. I've gone through all my emails and sent the entire email trail to every email address asking them to respond again. I now have "read receipts", so I know they have seen the emails. I will give them a couple of days to get back to me, otherwise it may be ASIC and traders court on FPA.
 

stevendefool

Recruit
Messages
2
Thanks Master Sergeant. I've gone through all my emails and sent the entire email trail to every email address asking them to respond again. I now have "read receipts", so I know they have seen the emails. I will give them a couple of days to get back to me, otherwise it may be ASIC and traders court on FPA.
The bank you said that was not involved in the transfer, was it Citibank New York? FxPrimus sent me the breakdown of fees for my transfer. It shows that my money was transferred from Hellenic Bank, then to Citibank, and then finally to my local bank, and it got rejected. Why was my money transferred to Citibank first before being transferred to my account?
 

frarod

Recruit
Messages
5
The bank you said that was not involved in the transfer, was it Citibank New York? FxPrimus sent me the breakdown of fees for my transfer. It shows that my money was transferred from Hellenic Bank, then to Citibank, and then finally to my local bank, and it got rejected. Why was my money transferred to Citibank first before being transferred to my account?
No. The bank they sent the money to is ANZ bank (Australia). This was not the bank I listed on the withdraw form. In fact I have never used ANZ bank. If they did send the funds there, no wonder it was rejected. They also stated on their email to me on the 13 June 2015 that the account numbers was wrong. Well if you contact the wrong bank, then no wonder the account numbers cannot be found. Doesn't take a genius to work that one out.

I just received an email less than an hour ago from them stating that there was no communication from my bank regarding the missing information. Therefore how can they state the issue is with my bank and that I needed to sort this out with my bank. If they didn't contact my bank, then no wonder there was no communication. They also say that other information they need should be put as "notes" on their form. This suggests that they don't even know what information is needed to complete the transaction.
 

FXPRIMUS Support

FxPrimus.com Representative
Messages
22
Hello frarod,

We have responded to your ticket (DPD-887-15153) with further details of your withdrawal as well as the sequence of events leading up to your withdrawal return. We also note several correspondence made between yourself and our withdrawal team regarding the withdrawal, as you have requested. For more details I advise that you contact Beyond Bank who is therefore and in this regard responsible to address a rejected withdrawal with their client and ultimately responsible for accumulated return charges.

Please revert back to ticket (DPD-887-15153) for any further inquiries regarding the matter. Feel free to contact us again at support@fxprimus.com for further assistance.
 

FXPRIMUS Support

FxPrimus.com Representative
Messages
22
Hello stevendefool

Please contact support@fxprimus.com regarding your withdrawal complaint and we will be sure to revert back to you within 24 hours. You may also provide us with the ticket ID of your original request so that we may trace and assist you ASAP.
 

frarod

Recruit
Messages
5
Hello frarod,

We have responded to your ticket (DPD-887-15153) with further details of your withdrawal as well as the sequence of events leading up to your withdrawal return. We also note several correspondence made between yourself and our withdrawal team regarding the withdrawal, as you have requested. For more details I advise that you contact Beyond Bank who is therefore and in this regard responsible to address a rejected withdrawal with their client and ultimately responsible for accumulated return charges.

Please revert back to ticket (DPD-887-15153) for any further inquiries regarding the matter. Feel free to contact us again at support@fxprimus.com for further assistance.
FXPrimus doesn't get it. I have contacted my bank. The fees weren't charged by them. The fees were charged by ANZ. The emails from FXPrimus states that ANZ charged the fees. FXPrimus have now responded to me stating that ANZ is an intermediary bank. First time this has been mentioned. For them to accept the money I need to provide an ANZ BSB and an ANZ account number. They sent me an ANZ form describing this. However, the form is for ANZ Internet Business for Banking Administrators. Given I don't bank with ANZ and never have, does this mean I have to open an ANZ internet business account just to get my money?

FXPrimus continues to state that I have to follow this up with my bank. My bank doesn't have my money FXPrimus does. I have asked on almost all my responses to them to provide me with a complete and comprehensive list of information that is required so that I can provide the details. They continue to not provide me with this. Am I asking too much of them? I have suggested that FXPrimus contact my bank to find out what information requirements my bank needs to receive my money directly and not via an intermediary bank which charges additional fees. As it stands, if I cannot get a satisfactory outcome in the next 48-72 hrs, it looks like I will have little option but to go to Cysec to resolve this. Not exactly my preferred option, but given its now almost 2 months I am being given little choice.
 
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