drum
Posts: 17
Likes: 4
|
Post by drum on Jan 23, 2017 8:38:35 GMT
I'm hoping for a little advice on how best to tackle Lending Crowd.
In late December I requested a withdrawal from lending crowd, I duly got my bank account authorized and checked the detail on the online form, and requested the withdrawal to the account they had authorized.
In early January I opened a support ticket because the payment hadn't arrived. It turns out they have refunded the money to an old closed bank account by way of refunding the money to a cancelled debit card. They claim the payment has gone through but the account is closed so I don't see how it can have, and the bank has no record of the refund.
Despite my requests they have so far failed to pay the money to the correct account, the account that I authorized with them and was on the withdrawal form.
They claim to be trying to get the money back, and I have helped by contacting my bank etc. but to be honest I've lost patience with them, it is now 1 month since the withdrawal request, I feel I have no option but to escalate this as their mistake has left me deprived of my own money.
As they are FCA regulated do I have any recourse through the financial ombudsman, or am best just going straight for a small claims?
Any help most appreciated.
|
|
archie
Posts: 1,836
Likes: 1,841
Member is Online
|
Post by archie on Jan 23, 2017 8:55:18 GMT
|
|
drum
Posts: 17
Likes: 4
|
Post by drum on Jan 23, 2017 9:56:42 GMT
Thanks I suppose that's going to be long drawn out process, like ombudsman normally are. I'll start investigating how to make a complaint etc.
|
|
|
Post by GSV3MIaC on Jan 23, 2017 9:58:06 GMT
They did the same thing to me (as documented here: p2pindependentforum.com/post/114778/thread). I kicked it to their compliance officer in the first case (they are required to have one). Luckily I could still get to my dead account, but I did bitch mightily about the 'not fit for purpose' withdrawal system .. which they obviously have not fixed.
|
|
archie
Posts: 1,836
Likes: 1,841
Member is Online
|
Post by archie on Jan 23, 2017 10:05:31 GMT
Thanks I suppose that's going to be long drawn out process, like ombudsman normally are. I'll start investigating how to make a complaint etc. I complained to the energy ombudsman on behalf of the company I was working for. Surprise, surprise the energy company were then trying to resolve it as quickly as possible. Took 3 weeks.
|
|
SteveT
Member of DD Central
Posts: 6,871
Likes: 7,915
|
Post by SteveT on Jan 23, 2017 10:09:02 GMT
Lending Crowd's insistence on returning your original stake back to the original debit card is surreal. I suspect it has more to do with getting their card transaction fees refunded than it does with anti-money laundering rules. Happily, once the original stake has been returned in full, further withdrawals are made via Faster Payments, as per other platforms.
|
|
drum
Posts: 17
Likes: 4
|
Post by drum on Jan 23, 2017 10:10:22 GMT
I hope this is sorted out that quickly. I can't believe that they have known about this problem since May, and still haven't fixed it, or display a warning when making a withdraw. Bet that goes down well the Ombudsman. I have dropped a preliminary email to the Ombudsman to see what they think, then I'll make it official.
|
|
|
Post by lendingcrowd on Jan 23, 2017 13:02:50 GMT
Hi, We are aware of this situation and have been actively working with the investor and the financial institutions involved with the transaction on a daily basis to get this matter resolved. Our website has clear steps on how to make a complaint should the investor choose to do so - the process can be found on the Complaints page. We will continue to work on getting this matter resolved in short order. Kind regards, LendingCrowd
|
|
TheDriver
Member of DD Central
Slightly bonkers
Posts: 493
Likes: 190
|
Post by TheDriver on Jan 30, 2017 10:52:11 GMT
Hi drum ;
Firstly, congratulations for getting a response from LC - their first on here for 8 months!
I can't believe that they have known about this problem since May, and still haven't fixed it . . .
Ah, I sympathise but you're obviously not used to LC timescales:
1. The IFISA has been "coming soon" since last April - I know they had to get full authorisation first, but would have anticipated they had allowed for that in their publicity, and even made plans to be ready for implementation.
2. The comment that the LC " app is only available for iOS, but we plan to start work on an Android app in the near future." was blogged in Nov 2015, and late last year (2016) a comment that work would start early 2017 was made - but don't get too excited because it took " months of hard work and thousands of hours " to produce the first one! lendingcrowd , please note this is not a request or suggestion to assign any priority whatsoever to resourcing this project!
|
|
nick
Member of DD Central
Posts: 1,054
Likes: 823
|
Post by nick on Mar 20, 2017 14:45:13 GMT
Has anyone had recent experience on how long it takes LC to 'approve your bank details' - I just tried making my first withdrawal.......
|
|
muh3
Posts: 52
Likes: 13
|
Post by muh3 on Mar 20, 2017 14:47:51 GMT
Has anyone had recent experience on how long it takes LC to 'approve your bank details' - I just tried making my first withdrawal....... It will be quicker if you send them a message.
|
|
nick
Member of DD Central
Posts: 1,054
Likes: 823
|
Post by nick on Mar 20, 2017 15:14:37 GMT
Has anyone had recent experience on how long it takes LC to 'approve your bank details' - I just tried making my first withdrawal....... It will be quicker if you send them a message. I have already called them but got thorough to someone who was fairly clueless but told me someone would look into it.........didn't inspire me with a lot of confidence
|
|
pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Mar 20, 2017 16:39:11 GMT
Has anyone had recent experience on how long it takes LC to 'approve your bank details' - I just tried making my first withdrawal....... Beware that even when they do that won't necessarily be where they'll actually send it (which will be the account it came from until you've withdrawn all your original deposit, and only then will they switch if you've actually requested a different one).
|
|