@natwest_help Natwest Chargeback refusal - Banners Broker

[SteveUK10]

Hello Everybody

 

I'm one of the fools that trusted a friend who got me to bite my tongue and join Banners Broker even though I had my doubts about the company.

 

I put in no small amount and of through being online found out it was indeed my worst fears and it was a spoof

 

Now I've been in a fight to get my money back from this seriously depressing experience for over 9 months now and I'm not giving up,

 

there's a liquidator appointed now and there's the charge back service or at least I thought there was a chargeback service.

 

My latest fight has been with my Natwest

 

asking them to pursue visas 540 day chargeback service under the section

" Goods not received" And a lot of other affiliates have been successful with this.

 

Natwest is playing hardball though this is the response I got off them today.

 

The latest one I've been hit with and I'm trying to get my head around is this

"You've used part of this company's service by them creating an account allowing you to deposit money into it

and the possibility to make withdrawals.

 

I responded by saying I'm disputing the terms and conditions where it says they will pay affiliates commissions

and that all liquidation request will be honoured etc, so I've not received their service.

 

They're saying

"That withdrawals is only a partial service they are providing to you and as we can't ascertain

what the value of that service is we can't pursue a chargeback."

 

They went on to say that

"The terms and conditions under section C only provide remit for a legal chargeback not through visa's chargeback service."

 

This is section C from Banners Broker

 

Section C (Affiliate & Client)

Payment Conditions

I adhere to the following:

1. All liquidation requests made shall be honored within fifteen business days for standard subscribers and seven business days for premium subscribers to the payment amount noted in your back office.
   
2. 
   
3. All commissions and bonuses are paid in the name of the applicant on the affiliate/client agreement.
   

I don't know what to do

 

I know there are successful affiliates who have claimed their money back through their banks.

 

I just don't know what to say to my bank and

 

I'm really not sure why they're hung up on the possibility of a withdrawal only being a partial service

and that I had some service by the company creating an account etc.

 

What's really baffling me is that I've sent them the liquidation letter from the court 2 times already

and this is the latest in a series of excuses to not follow the charge back request.

 

I'm fighting both banners broker and my bank

 

how am I the one who looses and what's worse is this banks ethos is going above and beyond in customer service.

 

I know I'm idiot for getting involved

 

I've been living with that for the 1 year and a few months.

 

Do I have a leg to stand on or do I wait the long wait and put all my eggs in the liquidator basket?

 

Plz If you guys have anything that could help I'd really love to hear from you.

[SteveUK10]

I've sent in the following information

 

 

A guide explaining exactly what happened

Screen shots of when the money was taken

Screen shots of my wallet

Information on the liquidators

Letter from the court saying the company was declared a Ponzi and put into liquidation

 

The person I spoke to who was a manager in the retail disputes department said at the beginning there was a training issue,

but NatWest have had this sent to their fraud department and seem unwilling to act.

 

I'm the victim of a well disguised Ponzi scheme but NatWest are making me feel worse than I already feel.

 

I know I made a mistake but so long as there's a chance to get some of my money back I'm going to fight to try and get it.

 

Disappointed with NatWest they have all the information they need to try n recover this money indeed their response to me is based on the company they'd try n recover the money back from being a legitimate company she couldn't seem to get it that this company is now liquidated etc.

 

Is my only option to go to the financial ombudsmen and complain about NatWest?

 

Remember other banks have successfully charged back money for their customers using visas 540 day rule, why can't NatWest?

[rebel11]

Hi SteveUK10

 

Welcome to CAG

 

Write a Formal Letter of Complaint, mark it as such. Explain what's happened, how they have let you down and what you want them to do.

 

What you also need to do is include COBS as the NatWest have signed up to these key principles, do some research on COBS.

 

NatWestare regulated by the Financial Conduct Authority, NatWest have to adhere to a set of legally binding key principles laid down in the Conduct of Business Sourcebook. NatWest has treated me unfairly under the following COBS Principles:-

 

Principle 6 - Customers' interests - A firm must pay due regard to the interests of its customers and treat them fairly.

 

Principle 7 - Communications with clients - A firm must pay due regard to the information needs of its clients, and communicate information to them in a way which is clear, fair and not misleading.

 

 

Send it to:-

Mr Ross McEwan

Chief Executive

RBS

[email protected]

 

Also report it to Action Fraud :- http://www.actionfraud.police.uk/

 

Then complain to the FOS, also set up or join an action group.

[dx100uk]

not really helping are they NatWest

 

sadly that's the usual response from them regarding chargeback.

 

dx

[SteveUK10]

Hey rebel11 and dx100uk thanks for replying and for the advice .

 

 

When I take a step back and look at it It's absolutely insane they're trying to find out what the value is of a PONZI scheme's ability to send withdrawals to me is? That's nuts it's legitimising a Ponzi by letting them keep my money and making me fight to get it back. I just really can't get my head around that, ok I've been really stupid in falling for something but surely NatWest who's ethos is customer service should be supporting me more than they are.

[Klandestine]

When I take a step back and look at it It's absolutely insane they're trying to find out what the value is of a PONZI scheme's ability to send withdrawals to me is?.

 

They have to abide by the Visa Operating Regulations which makes it clear that chargeback claims are limited to the portion of services which are not received.

 

I assume that you have also made contact with the liquidator to attempt to get your money because that is another condition of the chargeback scheme?

[SteveUK10]

They have to abide by the Visa Operating Regulations which makes it clear that chargeback claims are limited to the portion of services which are not received.

 

I assume that you have also made contact with the liquidator to attempt to get your money because that is another condition of the chargeback scheme?

 

 

So do visa operating regulations include the services of Ponzi schemes? please if they do I'd love to see a link to it?

 

 

Because that's what your saying here that visa need to know the value of the services that were not received from a Ponzi scheme, and a company that's been put into liquidation by a court of law.

Edited June 30, 2014 by SteveUK10

[Klandestine]

So do visa operating regulations include the services of Ponzi schemes? please if they do I'd love to see a link to it?

 

 

Because that's what your saying here that visa need to know the value of the services that were not received from a Ponzi scheme, and a company that's been put into liquidation by a court of law.

 

You are asking Natwest to make a Chargeback for "Services Not Provided". Whether that service later turns out to be a Ponzi scheme or a pyramid scheme is beyond the scope of those regulations.

 

Can you point me towards or provide me with a copy the terms and conditions which govern your payment to this company?

[SteveUK10]

Govern payments to this company could you elaborate on that a little? I'm not sure what your asking here?

 

 

This is what I found in the terms and conditions about payments to them

 

 

Section J (Affiliate & Client)

Registration

1. Ordering. All purchases of product inventory, sales aids, literature and supplies are strictly optional and are made available online or through the Ordering Department depending on the requirements of the country of residence.

2. Acceptable Methods of Payment. Payments may be made for all online orders through the use of a company approved payment method such as SolidTrust Pay, Payza and AlliedWallet. If you choose Allied Wallet as your payment method your credit card statement will read EW-BannersBroker18882551137

 

 

All those mentioned in point 2 are payment processors etc.

 

Edited June 30, 2014 by SteveUK10

[SteveUK10]

Anyone else think of someway i can resolve this dispute thanks to ppl already commenting