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Hi,
This is a somewhat unique issue so apologies if I am posting into the wrong section of the forum, this just felt like the most relevant place for it to go.
On 9th July this year I withdrew £2,836.47 from a cryptocurrency exchange (called cex.io), directly to my MBNA credit card. This was an accumulation of money that I had deposited in small amounts from another two (debit) cards over the preceeding 6 months, as well as a small amount of investment gains made during that period. These gains at the point of withdrawal had been crystallised, i.e. I had already converted all cryptocurrency investments back into GBP, and this GBP balance was sat in my account.
I withdrew the funds straight to my MBNA credit card because I had intended to pay down the balance on that card with the funds, and thought easier to withdraw straight there rather than via my bank account (how wrong I was). The problem with this is that, although I had registered my MBNA credit card with cex.io and it had been verified, I had never actually used the card to deposit any funds (I thought that I had). As such on the various occasions that I have spoken with MBNA (both on the telephone and via their official complaints process), they have either told me that the funds were returned to the sender by VISA because there was no original transaction made with the card, or they tell me that, because of this, I am unable to utilise the chargeback process and so they cannot help.
Over three months later, the money is still missing and both cex.io and MBNA are claiming it is the responsibility of the other party to locate the funds and resolve the matter. MBNA are (as mentioned above) claiming that the payment was returned by VISA owing to there being no initial deposit from the card in question. Then cex.io are saying that their payment provider has sent the funds and have provided a number of transaction ID's/payment references which they claim are proof of the funds having been sent. As an aside, the payment provider that cex.io use are called ecommpay.
Having been going round in circles now for months, I am at a loss as to how I progress the matter and receive my money. I wanted to see if anyone could advise me as to whether there is a legal avenue to take in terms of getting the money ? I am not sure who, legally, is responsible in terms of locating the funds and then re-sending. The money has not just disappeared, and MBNA suggest that the funds will have been returned to ecommpay's 'generic account' in the 30 days after the payment was originally made. I am currently waiting for an official communication from ecommpay (via cex.io) stating that they have checked their generic account during this timeframe and that they cannot see the returned payment.
I would be very grateful if anyone is able to provide any advice on this.
Regards
Harry
This is a somewhat unique issue so apologies if I am posting into the wrong section of the forum, this just felt like the most relevant place for it to go.
On 9th July this year I withdrew £2,836.47 from a cryptocurrency exchange (called cex.io), directly to my MBNA credit card. This was an accumulation of money that I had deposited in small amounts from another two (debit) cards over the preceeding 6 months, as well as a small amount of investment gains made during that period. These gains at the point of withdrawal had been crystallised, i.e. I had already converted all cryptocurrency investments back into GBP, and this GBP balance was sat in my account.
I withdrew the funds straight to my MBNA credit card because I had intended to pay down the balance on that card with the funds, and thought easier to withdraw straight there rather than via my bank account (how wrong I was). The problem with this is that, although I had registered my MBNA credit card with cex.io and it had been verified, I had never actually used the card to deposit any funds (I thought that I had). As such on the various occasions that I have spoken with MBNA (both on the telephone and via their official complaints process), they have either told me that the funds were returned to the sender by VISA because there was no original transaction made with the card, or they tell me that, because of this, I am unable to utilise the chargeback process and so they cannot help.
Over three months later, the money is still missing and both cex.io and MBNA are claiming it is the responsibility of the other party to locate the funds and resolve the matter. MBNA are (as mentioned above) claiming that the payment was returned by VISA owing to there being no initial deposit from the card in question. Then cex.io are saying that their payment provider has sent the funds and have provided a number of transaction ID's/payment references which they claim are proof of the funds having been sent. As an aside, the payment provider that cex.io use are called ecommpay.
Having been going round in circles now for months, I am at a loss as to how I progress the matter and receive my money. I wanted to see if anyone could advise me as to whether there is a legal avenue to take in terms of getting the money ? I am not sure who, legally, is responsible in terms of locating the funds and then re-sending. The money has not just disappeared, and MBNA suggest that the funds will have been returned to ecommpay's 'generic account' in the 30 days after the payment was originally made. I am currently waiting for an official communication from ecommpay (via cex.io) stating that they have checked their generic account during this timeframe and that they cannot see the returned payment.
I would be very grateful if anyone is able to provide any advice on this.
Regards
Harry
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