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Withdrawal Nightmare


nkwe

Question

I made a withdrawal last week, I eventually received email saying IG is going to convert the funds into Rands before transfering it to my bank account then they said it will take about 5 days. I wanted to buy medication for my father so I planned well in advance. Until today I have not received the money, when I email them I get whole different stories others don't even read email with understanding.

 

They keep on telling me to verify the amount and whether I want to withdraw via card or bank account. I chose this on the day of withdrawal and the money went off from my online bank account immediately.

 

IG.COM is operating like a ponzi scheme

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4 hours ago, nkwe said:

I made a withdrawal last week, I eventually received email saying IG is going to convert the funds into Rands before transfering it to my bank account then they said it will take about 5 days. I wanted to buy medication for my father so I planned well in advance. Until today I have not received the money, when I email them I get whole different stories others don't even read email with understanding.

 

They keep on telling me to verify the amount and whether I want to withdraw via card or bank account. I chose this on the day of withdrawal and the money went off from my online bank account immediately.

 

IG.COM is operating like a ponzi scheme

 

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Hi 

Firstly I feel for your predicament - but there is probably some reasonable explanation to the problem - firstly IG are a professional organisation (in my opinion) - they do take their cut and YES it can be pretty steep at times (just discovered myself in my trades). However the word Ponzi suggests a fraudulent model built and then only to be successful if more people subscribe to the scheme to survive and keep joining - I would disagree with this. Personally I think IG are doing their best (under the circumstances of COVID).

The word Ponzi is being used more today I believe because of the immense strains on the financial society of the usual excellent service of IG. But there is a definite change in finance at the moment all round.

I believe you have been the very unfortunate circumstance of lack of ownership by IG of your withdrawal (probably - and only IG could verify this due to multiple members of their staff being involved and possibly a mistake being made or deadline missed by seconds /minutes and hence you 5 day withdrawal time frame.  However the question of WHY in todays world does it take 5 days to transfer funds is the pertinent one - This should be either 1 day or instant (if money can go in instantly - why not out instantly - that is definitely one for IG to answer - but I believe those are their WHICH WE ALL SIGN UP TO AND AGREE TO  conditions ie withdrawals can take 3-5 days and THEY MAKE THE RULES NOT US. It has taken many years and $ or £ investment  to set up and system and I consider it  the best for my purposes by a long shot and am a happy customer.

If you simply follow what they ask you will have your money sooner the only reason they keep asking to verify is in case fraud is involved (I have even encountered this my self and it is just a check nothing personal my account if not running on this basis)

I hope this is resolved my friend (I feel you are taking it personally) but medical supplies is a VERY PERSONAL thing as you need them swiftly  for your father (I wish him well soon).

 

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9 hours ago, David30b said:

Hi 

Firstly I feel for your predicament - but there is probably some reasonable explanation to the problem - firstly IG are a professional organisation (in my opinion) - they do take their cut and YES it can be pretty steep at times (just discovered myself in my trades). However the word Ponzi suggests a fraudulent model built and then only to be successful if more people subscribe to the scheme to survive and keep joining - I would disagree with this. Personally I think IG are doing their best (under the circumstances of COVID).

The word Ponzi is being used more today I believe because of the immense strains on the financial society of the usual excellent service of IG. But there is a definite change in finance at the moment all round.

I believe you have been the very unfortunate circumstance of lack of ownership by IG of your withdrawal (probably - and only IG could verify this due to multiple members of their staff being involved and possibly a mistake being made or deadline missed by seconds /minutes and hence you 5 day withdrawal time frame.  However the question of WHY in todays world does it take 5 days to transfer funds is the pertinent one - This should be either 1 day or instant (if money can go in instantly - why not out instantly - that is definitely one for IG to answer - but I believe those are their WHICH WE ALL SIGN UP TO AND AGREE TO  conditions ie withdrawals can take 3-5 days and THEY MAKE THE RULES NOT US. It has taken many years and $ or £ investment  to set up and system and I consider it  the best for my purposes by a long shot and am a happy customer.

If you simply follow what they ask you will have your money sooner the only reason they keep asking to verify is in case fraud is involved (I have even encountered this my self and it is just a check nothing personal my account if not running on this basis)

I hope this is resolved my friend (I feel you are taking it personally) but medical supplies is a VERY PERSONAL thing as you need them swiftly  for your father (I wish him well soon).

 

Hi, when you make withdrawal the balance get reduced immediately right? So now they are saying they cannot trace the withdrawal request. My balance got reduced with GBP300 after I made the withdrawal, but now they want to tell me that it has disappeared in the air.

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