On 17th of October I tried to transfer the money to my friend who lives in the same city as me through iKobo money transfer which is according to their self-description the easy and safe way to send money to anyone, anywhere in the world.
Everything was all right first, they confirmed the transaction, my debit Visa card was immediately charged (97,35$).
But the next day I got the notification that this transaction has been cancelled and my account by iKobo has been blocked without any explanation. I tried to contact the staff of iKobo in order to find out what's wrong but each time I got a different explanation:
You cannot send funds to the same city that is why the transaction was cancelled. It is a security risk for iKobo. The funds were reversed to your account on the 17th of Oct. And it normally takes up to 4 business days to put the money back on your account. And in order to unblock your account by iKobo you should send us the copy of your ID and you Visa card.
I really don't understand why nobody wanted first to take a look at my ID or credit card before charging the money from my account!
3 days later I checked my account again and found out that this amount was still missing.
I tried to contact the staff of iKobo again and I should tell the whole story from the very beginning this time to another person. The answer was: you should send us the copy of your account statement so we could check if the money is really not yet back. Well, I sent them the latest statement of account and I was promised the matter will be investigated from their end and the problem will be solved in couple of days. However, they'll inform me by email about the results.
OK, in couple of days the problem still hadn't been solved and I didn't hear anything from iKobo as promised so I contacted them the 3rd time. This time the answer was: it could take up to 30 days to post the charge as a credit so that I will be able to see it on my account.
Moreover, I've been informed that the transaction through iKobo was cancelled because you were sending money to someone in the same city as you. This is not allowed for international customers. That is an iKobo policy, an internal rule It's probably a top secret because it is not published on their website. Than I was as usually promised that the matter will be investigated and a response will be given via email the next day. Well, today is 1st of November, any answer from iKobo is still missing as well as money on my account.
The question is: if the administration of iKobo takes so much care of the security of their services why do they forget somehow to cancel the transactions immediately without charging the client's accounts first? Or they probably think that it is more secure to keep the money on the iKobo accounts and to rob their clients this way?
Here are the copies of my chats with the staff of iKobo:
Carlos: Hi, my name is Carlos. How may I help you? Please feel free to send any comments about me or our service to [email protected].
Natalia: Hi Carlos, I'm Natalia. I wanted to send the money to my friend through iKobo but the transaction has been cancelled. Why?
Carlos: One moment while I review your account.
Natalia: ok
Carlos: You need to fax or email in verification documents and also delete your recipient from your account.
Carlos: Verification documents consists of a copy of your ID, photocopy of your credit card (front and back) and a copy of your utility bill.
Natalia: but what actually happened?
Carlos: You can fax these documents to 1-267-295-2868 or email them to [email protected].
Carlos: We need extra verification on your account before we unblock it.
Natalia: could I get the money back to my Visa?
Carlos: It has already been reversed back to your Visa card.
Natalia: I'm sure this money isn't on my account
Natalia: I checked it 10 minutes ago
Carlos: You have to give it at least 4 business days to show up.
Natalia: does it mean that this amount incl. The transaction fees will be booked back to my Visa account?
Carlos: That is correct.
Natalia: great, that's what I wanted to know - where's this money.
Natalia: but could you please tell what was wrong with this transaction?
Carlos: Your account has been blocked and cannot be re-opened until you send us documents.
Natalia: but why was it blocked? What happened?
Carlos: Your account is too high risk to service. If you want an explanation, you will need to send an email to [email protected] or call our compliance department at 1-866-800-4562 ext. 169.
Natalia: but why is it too high risk to service? I just wanted to transfer the money from my own card. Is it so dangerous?
Carlos: Refer all questions to [email protected].
Carlos: I told you what you need to do.
Carlos: You must comply with the rules or else your account will stay blocked.
Natalia: I just want to get back this money.
Carlos: The money has already been reversed back to your account on 10/17.
Carlos: You have to give it a couple of days to show up on your account.
Radhika: Hi, my name is Radhika. How may I help you? Please feel free to send any comments about me or our service to [email protected].
Natalia: Hello Radhika, my name is Natalia. I tried to send the money to my friend but this transaction has been canselled. Why?
Radhika: You cannot send funds to the same city, that is why the transaction was cancelled
Natalia: but why? Is it mentioned somewhere in your rules?
Radhika: It is a security risk for us, hence we dont allow it
Natalia: moreover, I was promised to get back this amount incl. All fees but this money is still not on my Visa account.
Radhika: The funds were reversed on the 17th of Oct. Please contact your bank for further updates
Natalia: I've checked it 5 minutes ago
Radhika: You can send us a statement from your account showing that the amount was charged and never returned to your account since it has been over a week
Radhika: Although in some cases it can take longer than a week
Natalia: all I want to get this money back.
Natalia: should I think that somebody uses my money in some other way?
Radhika: The money was reversed
Radhika: I dont know why your bank hasnt processed the transaction
Radhika: You can send us a copy of your statement like I suggested earlier and we can investigate the matter further
Natalia: who should I send it to?
Radhika: You can either fax it to 267 295 2868 and put my name as attn or email to [email protected]
Natalia: ok, i'll send it to you by email.
Radhika: Ok
Radhika: Hi, my name is Radhika. How may I help you? Please feel free to send any comments about me or our service to [email protected].
Natalia: Hello Radhika, this is Natalia, we chatted already today.
Radhika: Yes
Radhika: I received your email
Radhika: Is that an official statement?
Natalia: yes, of course.
Natalia: you can see I received it by fax today.
Radhika: Did you request the statement till Oct 17 only or is this your statement till Oct 25
Natalia: you can see there ALL transactions from 27.08 till now.
Radhika: The reason I ask is the date stops at Oct 17
Natalia: this is because I didn't use it after this date. And they just show the last 10 transactions.
Radhika: Ok, I will send the information to our tech support and once I have an answer from them I will contact you back
Radhika: In the meantime if you receive notification of the deposit from your bank please let me know
Natalia: of course. But it seems to me somehow that somebody uses this money instead of sending it back to me.
Radhika: The money was reversed from our end. I will inform you of updates
Natalia: the situation is rather suspicious: the transaction through ikobo has been cancelled but I still can't get my money back.
Radhika: Like I said, we will investigate the matter from our end
Radhika: Is there anything else I can help you with?
Natalia: not much. I just want to get my money back. As soon as possible. I was promised to get it back in 4 business days. Now is the 7th bus. Day but the money is still not on my account. What should I think?
Radhika: I dont know why you dont see the funds. We have had situations with overseas banks where it does take longer for the deposit to process. It does not mean that the funds will not be returned to you
Natalia: everything's pretty easy: I don't see the funds because they aren't on my account. The question is: who's using my money in the meantime instead of sending it back to me?
Radhika: Nobody is using your money, it is probably in a pending status to be released to your account. Again, this matter is to be investigated and right now I cannot give you any definite answer
Natalia: ok, let's do the following: I can wait a couple of days more (until Friday) even if your company had enough time to solve this problem. If the money still won't be returned I'll send the claim to the rip off report. Hope to hear from you a.S.A.P. Thank you!
Amanda: Hi, my name is Amanda. How may I help you? Please feel free to send any comments about me or our service to [email protected].
Natalia: Hello Amanda, I'm Natalia. I have a problem with the refund of the cancelled payment.
Amanda: what is the problem with the refund?
Natalia: the whole story happened 2 weeks ago. I wanted to send the money to my friend, first this transfer was accepted but than cancelled without any explanation. I was promised to get this amount incl. All fees back to my Visa account.
Natalia: The problem is that even after 2 weeks I still can't get it back.
Amanda: One moment please.
Natalia: I actually discussed it with your colleagues Carlos and Radhika.
Amanda: usually it takes 7 days for the money to be refunded back to your account. Your refund has been processed from iKobo to be credited back to your credit card but it can take up to 30 days for your bank to post the charge as a credit so that you will be able to see it.
Natalia: I was informed that it takes 4 business days. Now you are giving another information.
Amanda: it usually takes 3-7 business days... Usually time is 4 days
Amanda: but it depends on your back
Amanda: bank
Natalia: Does it mean that somebody is using this money instead of booking it back to my account?
Amanda: the refund has already been processed by iKobo to your credit card
Amanda: its now up to your credit card to give you a credit
Amanda: call them and ask them why it is taking so long
Natalia: I don't see it on my account.
Amanda: no one is using your money
Amanda: we already sent the request for the money to be put back on your account to your credit card company
Natalia: I was checking it with my bank, they don't know anything about any refunds for me.
Natalia: It means that the money is still somewhere inside Ikobo.
Amanda: our refund processor, VeriSign
Amanda: has already given the refund back to your credit card
Amanda: I will investigate more about why your bank is not showing the credit and email you tomorrow
Natalia: But pls explain why this transaction has been cancelled and why does it take so much time to get money back?
Amanda: The transaction was cancelled because you were sending money to someone in the same city as you. This is not allowed for international customers.
Amanda: Also, I do not know why it is taking so long for you to see the refund, that is why I will further investigate the issue and give you a response via email tomorrow
Natalia: is it mentioned somehow in your rules? I didn't see it
Amanda: that is an ikobo policy
Amanda: its an internal rule
Natalia: but please show where is it mentioned?
Amanda: that we have at ikobo
Amanda: it is not published on our website
Natalia: super! What a discrimination? Why is it impossible to send the money in the same city?
Amanda: it is internal policy that we have at iKobo
Amanda: sorry if you feel offended by the policy but it will not be changed
Natalia: the problem is that the people should be informed about it in advance. Why don't you do it?
Amanda: sorry
Amanda: Is there anything else I can help you with?
Natalia: I just want to get my money back. As soon as possible. I was promised to get it in 4 days but even after 2 weeks it's still missing.
Natalia: seems to be a bad business.
Amanda: I understand. You will be refunded your money.
Amanda: I will further investigate the issue and give you a response via email tomorrow
Natalia: when? Should I wait 2 more weeks? Or even longer?
Amanda: I am not sure. I will further investigate the issue and give you a response via email tomorrow
Amanda: You should have gotten it by now
Natalia: ok, thanks.
Amanda: but your credit card company seems to have an issue
Natalia: they only confirm that this amount had been charged from my account on 17.10. But they didn't get any refund of it.
Amanda: they did but they did not process the credit yet
Amanda: they would not tell you that
Amanda: I will further investigate the issue and give you a response via email tomorrow
Natalia: ok, thank you. I'll wait for your answer tomorrow.
Amanda: Thank you.
Natalia
Moscow
Russian Federation
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