2016 - 2017
Mr S was signed up to about 80 online money trading sites, his favourites were those involving short-term currency changes. He also signed up to online lottery sites. They all claimed to offer one thing in common – fast money without risk.
He contacted his bank to say that he did not authorise two transactions on his debit card. One was for online trading, another for a lottery.
The bank noted that they looked identical to transactions he had previously challenged on an old card. The bank had recently reversed those transactions and issued him a new card.
The bank investigated the latest disputed transactions. It found a call recording in which Mr S acknowledged receiving the lottery entries and a screenshot he had sent the bank of his membership details. It also noted his monthly membership fee was the same as the amount in dispute, and that the transactions were made on his new card. These facts led the bank to conclude that he had given his new card details to the sites.
The bank was concerned about his online trading and did not want to continue offering him a debit card. In turn, he was concerned this would prevent him from trading online.
We pointed out that some of the sites appeared to be making fake offers, that they did not state what country they operated from, and that they did not disclose anything about who owned or operated them. In short, some appeared to be scams. Mr S did not accept this warning.
He also did not accept that he had any relationship with the sites that had put through the disputed transactions. Once we had considered all of the evidence we formed the view that the bank’s position was reasonable.
In the meantime, Mr S and the bank reached an agreement that he would no longer have a debit card.