Oanda USA wont return deposit.
I will summarize my dispute with Oanda and then proceed to the next step with Forex Traders Court in hopes that I can get this issue resolved before proceeding to the next steps.
Deposit: $2000 dollar check received by Oanda and deposited into their account (not mine) on 2016-10-21 as per my Oanda Account Info.
Misunderstanding: this bank account would require additional docs due to this being my business banking account. I provided bank statement and all docs required by Oanda previously but thought it would be better to use my personal banking account instead. (My fault) So requested that they return the funds and I would reissue a check under my personal account.
their reply via email:
October 21 2016
-------------------------------------
OANDA FXTrade notification
-------------------------------------
Reference Number: 13731466
Action: Deposit
Account: XXXXXX
Amount: 2000.00 USD
Your request has been denied.
Dear William,
This email is to advise you that a refund check has been issued. It should arrive shortly. Please ensure that in the future if you wish to fund your account please make sure the funds are debited from an account that is registered in your name.
If you have any questions regarding this transaction, please do not hesitate to contact us and quote the above transaction number.
Kind Regards,
OANDA FXTrade Team
http://fxtrade.oanda.com/
Okay no problems...after a few weeks many emails later with no check I realize that they sent the check to the wrong address. (Again partially my fault, although my Oanda Account, and Bank Statement provided to Oanda had the correct address. For some reason they used the old address listed on the check. Rarely write checks in this day and age and didn't even cross my mind to have new checks issued)
Oanda's response:
November 3, 2016
Case Number: XXXXXXX
Case Subject: Returned Cheque
Dear William,
I understand we sent the return check to an old address used by XXXXX. I'm truly sorry for the inconvenience. We returned the funds back to the address that appeared on the check image we received.
We are now in the process of recalling the funds. Once the funds are credited back to our account we will then be able to issue a new check using the updated address. Its my understanding that the address we should use is...
XXXXXX
XXXXXX
USA
Can you please confirm this is correct.
Our client experience team is here to help 24 hours a day from Sunday at 1 p.m. EST to Friday at 6 p.m. EST. If you have any questions, please do not hesitate tocontact us.
Build your Forex trading knowledge
It is my pleasure to assist you,
Kevin
Client Experience Team
I confirmed the address via email was correct.
I will not post all the emails which I will in the Traders Court but brief summary:
November then December no check.
Emails - wheres my check????
Oanda Account Manager gets replaced with new person.
Emails finally no longer getting response from new account manager.
Live Chat with Oanda:
(In short) wheres my check? In the mail tomorrow be there next week
2 weeks later
Live Chat with Oanda:
(In short) wheres my check? In the mail tomorrow be there next week
Its now December 29 2016 as of the date of this submission and still no refund.
By my count that is 70 days with out access to my money. I can understand a couple of weeks for the confusion with the address but again not fully my responsibility.
I will summarize my dispute with Oanda and then proceed to the next step with Forex Traders Court in hopes that I can get this issue resolved before proceeding to the next steps.
Deposit: $2000 dollar check received by Oanda and deposited into their account (not mine) on 2016-10-21 as per my Oanda Account Info.
Misunderstanding: this bank account would require additional docs due to this being my business banking account. I provided bank statement and all docs required by Oanda previously but thought it would be better to use my personal banking account instead. (My fault) So requested that they return the funds and I would reissue a check under my personal account.
their reply via email:
October 21 2016
-------------------------------------
OANDA FXTrade notification
-------------------------------------
Reference Number: 13731466
Action: Deposit
Account: XXXXXX
Amount: 2000.00 USD
Your request has been denied.
Dear William,
This email is to advise you that a refund check has been issued. It should arrive shortly. Please ensure that in the future if you wish to fund your account please make sure the funds are debited from an account that is registered in your name.
If you have any questions regarding this transaction, please do not hesitate to contact us and quote the above transaction number.
Kind Regards,
OANDA FXTrade Team
http://fxtrade.oanda.com/
Okay no problems...after a few weeks many emails later with no check I realize that they sent the check to the wrong address. (Again partially my fault, although my Oanda Account, and Bank Statement provided to Oanda had the correct address. For some reason they used the old address listed on the check. Rarely write checks in this day and age and didn't even cross my mind to have new checks issued)
Oanda's response:
November 3, 2016
Case Number: XXXXXXX
Case Subject: Returned Cheque
Dear William,
I understand we sent the return check to an old address used by XXXXX. I'm truly sorry for the inconvenience. We returned the funds back to the address that appeared on the check image we received.
We are now in the process of recalling the funds. Once the funds are credited back to our account we will then be able to issue a new check using the updated address. Its my understanding that the address we should use is...
XXXXXX
XXXXXX
USA
Can you please confirm this is correct.
Our client experience team is here to help 24 hours a day from Sunday at 1 p.m. EST to Friday at 6 p.m. EST. If you have any questions, please do not hesitate tocontact us.
Build your Forex trading knowledge
It is my pleasure to assist you,
Kevin
Client Experience Team
I confirmed the address via email was correct.
I will not post all the emails which I will in the Traders Court but brief summary:
November then December no check.
Emails - wheres my check????
Oanda Account Manager gets replaced with new person.
Emails finally no longer getting response from new account manager.
Live Chat with Oanda:
(In short) wheres my check? In the mail tomorrow be there next week
2 weeks later
Live Chat with Oanda:
(In short) wheres my check? In the mail tomorrow be there next week
Its now December 29 2016 as of the date of this submission and still no refund.
By my count that is 70 days with out access to my money. I can understand a couple of weeks for the confusion with the address but again not fully my responsibility.
