IB refuses to refund Identity Token deposit fee

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Quote from 4DTrader:

There is nothing to be ashamed of if you are an IB employee, or a friend of an employee of IB.

What traders need is open discussion about brokers, including IB. There is no need to be over-defensive, unless you have something to hide.

I get an impression that every time a trader questions IB, he is stepping on a nest of wasps and gets stung by these hostile creatures lurking on this forum. I am retreating. :(

4DTrader,

No one can afford the time to post hundreds or thousands of messages here without getting paid from IB. Most of the crowns here got be multiple alias of one single IB employee with multiple personalities.

No matter what bullsh*t excuses IB given here, the facts are quite clear. IB will try to steal your money if you don't expose them in public here. In both cases Ted had to post messages here to get his money back!

We will see if Ted will get his $150 back this time. My advice to all the crown alias here: Just sh*t up and return the money back to Ted.
 
Lian,

If the good folk here who point out the stupidity and maliciousness of most attacks on IB (and I include your misleading friend Ted here) are employees of IB then we can bet that you're one of Ted's illegal investors. Those who succeed as traders and thus are here more than 12-18 months that most anti-ib whingers seem to survive get bored with the same malicious rubbish.

I know you're not smart enough to understand that IB must comply with the laws of the countries they operate in but most readers aren't so foolish. Here are the facts. :)


Quote from IBj:

Record straightening time as, of course, there are omitted facts:

December: compliance investigation into account leads IB to determine that the funding activity suggests activity/business that IB does not permit ( the funds are arriving from many different 3rd party locations).

February: IB starts returning funds to the accounts from whence they came. These are 3rd party accounts. Names don't match so there are rejections from the third parties' banks (3rd party money movements are problematic for a variety of operational, AML, and regulatory reasons). It takes 4 months to get all the receiving banks to take the funds properly. The last $150 is withheld because the security device had not been returned.

August: account is force closed by IB compliance department when the remaining liability (token deposit) is written down and the remaining $132.72 is deducted to bring the account to zero

December: device is returned. The account no longer exists so there is no way in the normal systems to recredit the account automatically (remember, we normally dont take the money, we merely reserve it. Un-reserving is built. Un-debiting automatically is not)

March 2 years after this started: here we are.

Post-mortem:
(1) Most organizations define time limits on fulfilling obligations after an event or contractual relationship ends. For example, you have 30 days to complain on your credit card. It seems IB has not have defined a time limit for returning security devices. We will fix that so there aren't such open-ended issues and there is a greater clarity on expectations regarding device return.
(2) There really isn't any department in charge of this. In principle, we should have said "sorry, too late". The device was de-registered (which happens when it is written off as lost/stolen) so it is became an expensive 4 ounce useless paperweight.
(3) We will send back the deposit ($150).
 
Quote from IBj:

Record straightening time as, of course, there are omitted facts:

December: compliance investigation into account leads IB to determine that the funding activity suggests activity/business that IB does not permit ( the funds are arriving from many different 3rd party locations).

............
IBj,

It's quite low for you to hint any illegality in my part here. My friends deposit money in my account was PRE-APROVED by IB. The acceptances of these funds directly from my friends by IB are evidence of it, because IB knew where the funds coming from.

The facts about these fund return delay was clearly described be the fund receiving bank:
___________________________________________________
Interactive Brokers must include your NAME and ACCOUNT NUMBER on the wire or it will continue to be returned. They keep sending us multiple wires with no beneficiary names or account numbers. Without that information, we can not guess who's account those funds are suppose to go into. Please contact Interactive Brokers and ask them to include your name and account number on the wire, and the funds will be deposited into your account. We are not holding the funds at this time. They are returned to Interactive Brokers each time a wire is sent to us from them. The problem is not on our end, but with Interactive Brokers and them providing us with the necessary information. We have been in contact with multiple people at Interactive Brokers, we have explained to them what is needed, and they still keep sending us the wires incorrectly.
__________________________________________________

more facts can be found in this message„³ http://www.elitetrader.com/vb/showthread.php?s=&postid=1003135#post1003135

Only God knows why IB keep sending multiple wires with no beneficiary names or account numbers even after the receiving bank have explained to IB what is needed.

I think your firm should at least pay me some interest on those delayed funds because the delay was obvious IB's mistake no matter intentionally or not.

About $150 token fee delay, IB staff John Elefantis has already apologized to me in his email to me. I don¡'t know why you try to blame me for the delay here.
 
kiwi_trader,

Please stop sending me stupid private messages! I know you are just one of IB's alias which plays the part of a real low-life .
 
Quote from lianjieman:

No one can afford the time to post hundreds or thousands of messages here without getting paid from IB. Most of the crowns here got be multiple alias of one single IB employee with multiple personalities.

No matter what bullsh*t excuses IB given here, the facts are quite clear. IB will try to steal your money if you don't expose them in public here. In both cases Ted had to post messages here to get his money back!

Your argument is quite convincing! You are an unbelievable debater! lianjieman != 4DTrader (backwards day).
 
Quote from sprstpd:

Your argument is quite convincing! You are an unbelievable debater! lianjieman != 4DTrader (backwards day).

1400 posts! I wish someone would pay me to post so many crap :p
 
Quote from sprstpd:

Your argument is quite convincing! You are an unbelievable debater! lianjieman != 4DTrader (backwards day).

You left out a name. TedZhang8=lianjieman= 4DTrader
 
What kind of company is that? Holding customer's money for years and not apologize, instead attack the customer. People are quite forgiven if you just return the money and apologize it.
 
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