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Case Study: When the Banker Is Easy to Work With
This case involved the following MyChargeBack services: preparation of the chargeback request and follow-through with the bank.
For several reasons, this case illustrates the challenges our clients face on a routine basis. First, it exemplifies the hazards of unscrupulous unregulated online investment brokerages. In addition, it demonstrates why expertise, experience and persistence is critical to overcoming the systemic obstacles to successful fund recovery.
R.C. is a woman living in her native Hong Kong who was seeking a more secure financial future. To do so, she looked for online investment opportunities to help make her goals a reality. Unbeknownst to her, the online broker she chose to invest with was unregulated and unlicensed. In simple terms, it was a trap.
Getting into the scheme was quite easy. Exiting it proved to be a major challenge. Every time she made a deposit, the market would subsequently turn around and she’d lose it, or so she was told. ‘I would keep losing, and they would chase me to make deposits to win my money back,’ she noted.
After a couple months of back-and-forth, R.C. had finally had enough. She decided to cut her losses and attempted to withdraw her balance. When she was denied the ability to do so, she realised that her funds were stolen.
Following online research, she found MyChargeBack, and was impressed by the recommendations she received from some of our former clients. She was insistent on getting her money back, but knew she needed help and was willing to take the risk.
MyChargeBack immediately drafted the required paperwork and arranged calls with R.C. and her bank. The process was neither quick nor easy, but fortunately, her banker was easy to work with. Ultimately, R.C. successfully reversed seven of the eight transactions on her card.
When asked what it was like to work with MyChargeBack, R.C. responded, ‘It’s really helpful, your company is really helpful, really on time, you guys also comfort me when I’m worried.’
And when we invited her to provide future clients with her advice for how to maximise their chances of success, this is what she had to say:
‘Trust MyChargeBack, and be patient. Keep updating them if you get any news or communication from the bank.’
At a Glance: MyChargeBack in Hong Kong
Payment made by the bank
Did you pay with a credit card or debit card? Bank wire? Cryptocurrency?
MyChargeBack is a trading name of Quandrance Finance Ltd, registered in England and Wales.
Company registration 11522989. VAT number: 313 1819 32
Registered address: Chenies House, 21 Bedford Square, London WC1B 3HH
Correspondence address: Unit 1, Office 4A, 1st Floor, Ravensdale Industrial Estate, Timberwharf Road, London N16 6AY
Telephone: +44 20 3885 9306; +44 75 3715 0685 (Arabic support)
Quandrance Finance Ltd is authorised and regulated by the Financial Conduct Authority as a claims management company. Firm Reference Number: 838260
Regulated by the Information Commissioner’s Office in Respect of the Data Protection Act 2018, Number: ZA453504
You do not need to use a claims management company to make your complaint to the financial firm. If your complaint is not successful and you reside in Great Britain, you can refer it to the Financial Ombudsman (FOS) and the Financial Services Compensation Scheme (FSCS) for free if you wish for them to review your case, providing you have approached the financial firm first and the subject matter of your complaint against the financial firm falls within the remit of the FOS.