Resolved: Oanda deposit problem

Anton913

Recruit
Messages
3
I deposited 500 CHF to Oanda on September 1st 2017. and still don't have the money in my Oanda account nor my bank account.
The deposit transaction doesn't show up in my funding history. Nevertheless, Oanda took money from my debit card. I contacted Oanda's frontdesk just a few hours after my (unsuccessful) deposit. This was their response:


"We have investigated this deposit concern. It appears the 500.00 CHF you tried to send, was using your EUR card profile, however the funds were to be sent to the CHF account. This action is not possible. You need to send CHF funds using a CHF profile, to the CHF account. Due to the exchange issue and your card profile being in EUR, the transfer did not succeed.

You will see the funds being held similar to a transaction. Also similar to a Hotel check in, when they take your card and just hold a certain amount on the card. The held funds will then be released in a few business days and returned to your card."


Fair enough, I thought. I talked to my bank, everything is clear with them, the payment went through. The money is within Oanda.

They said it would be resolved in a few business days. 17 days later, 11 business days later and I still don't have the money although I gave them all the information they needed day one.

I've been using Oanda for 3 years and never really had any problems. Might not seem like some huge amount, but 500 CHF is a lot of money in my country (EU), I worked for 3 months to save that amount.

I found people who had similar experiences, some of them waited for months. That's the time I simply don't have. If anyone reading this had the same experience or could help me out, I'd be most grateful.


Kind Regards,
Anton
 

FxMaster

Lt. Colonel
Messages
8,293
I deposited 500 CHF to Oanda on September 1st 2017. and still don't have the money in my Oanda account nor my bank account.
The deposit transaction doesn't show up in my funding history. Nevertheless, Oanda took money from my debit card. I contacted Oanda's frontdesk just a few hours after my (unsuccessful) deposit. This was their response:


"We have investigated this deposit concern. It appears the 500.00 CHF you tried to send, was using your EUR card profile, however the funds were to be sent to the CHF account. This action is not possible. You need to send CHF funds using a CHF profile, to the CHF account. Due to the exchange issue and your card profile being in EUR, the transfer did not succeed.

You will see the funds being held similar to a transaction. Also similar to a Hotel check in, when they take your card and just hold a certain amount on the card. The held funds will then be released in a few business days and returned to your card."


Fair enough, I thought. I talked to my bank, everything is clear with them, the payment went through. The money is within Oanda.

They said it would be resolved in a few business days. 17 days later, 11 business days later and I still don't have the money although I gave them all the information they needed day one.

I've been using Oanda for 3 years and never really had any problems. Might not seem like some huge amount, but 500 CHF is a lot of money in my country (EU), I worked for 3 months to save that amount.

I found people who had similar experiences, some of them waited for months. That's the time I simply don't have. If anyone reading this had the same experience or could help me out, I'd be most grateful.


Kind Regards,
Anton
Few steps that you must follow to draw their attention to your issue,
Follow the suggested steps below:

If you deposited your money via credit card then contact the credit card customer care asap and ask them to file a chargeback.
Invite them to join this thread via email (Send an email to every possible address).

Go to their website and invite them to here via Live Chat
You will find their email and address https://www.oanda.com/resources/about/contact/
Also, Share your story as a review here http://www.forexpeacearmy.com/forex-reviews/88/www.oanda.com

You can also share your story on their social media pages mentioned below:

https://www.facebook.com/OANDAfx / (Click on MORE and you will find write review option there)
https://twitter.com/OANDA
https://www.youtube.com/oanda
https://plus.google.com/+oanda/posts

PS: Don’t forget to edit your thread or review when your issue get shorted out.
 

Anton913

Recruit
Messages
3
UPDATE:
Oanda finally responded to my email:

"In regards to your response. Your authorization which we explained in our last response, was held till Sept 11th. It is now up to your bank to release to these funds back to you, since the authorization has expired. Your funds should now be returned to your card as the authorization has now expired. We hope this response assists you further with this concern."


I heard from my bank and they requested a confirmation from Oanda. I asked them to send me a photocopy (confirmation) of the transaction. Don't hold me for my word, but seems like buying time to me. I'll keep you updated.


Thanks for the reply FxMaster.
 

FxMaster

Lt. Colonel
Messages
8,293
UPDATE:
Oanda finally responded to my email:

"In regards to your response. Your authorization which we explained in our last response, was held till Sept 11th. It is now up to your bank to release to these funds back to you, since the authorization has expired. Your funds should now be returned to your card as the authorization has now expired. We hope this response assists you further with this concern."


I heard from my bank and they requested a confirmation from Oanda. I asked them to send me a photocopy (confirmation) of the transaction. Don't hold me for my word, but seems like buying time to me. I'll keep you updated.


Thanks for the reply FxMaster.
You`re most welcome and its seems partial good news too :)
Keep us updated and do not forget to come back and share the update when you got your funds back.
 

Anton913

Recruit
Messages
3
UPDATE:
Today, 23.9.2017., the money appeared on my bank account out of the blue. There's no transaction history or anything, I just suddenly had different balance equivalent to plus 500 CHF. I'm not sure who was to blame, but I'm just glad I got my money back. My apologies to Oanda if it was my bank's fault.

Cheers.
 

FxMaster

Lt. Colonel
Messages
8,293
UPDATE:
Today, 23.9.2017., the money appeared on my bank account out of the blue. There's no transaction history or anything, I just suddenly had different balance equivalent to plus 500 CHF. I'm not sure who was to blame, but I'm just glad I got my money back. My apologies to Oanda if it was my bank's fault.

Cheers.
It's always good to see resolved cases :) Yo, AsstMod can you mark this thread as resolved, please?
 
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