IB refuses to refund Identity Token deposit fee

Discussion in 'Retail Brokers' started by TedZhang8, Mar 8, 2008.

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  1. I closed my IB account on September 06, 2006. Shortly after, I returned the Identity Token and requested refund of $150 deposit fee. I had emails back forth many times with IB during past one and a half years regarding the refund. All IB did was to ask me to contact different departments in circle, and I could not pin down one department which is responsible for refunding the Identity Token fee.

    I am amazed a company sized like IB will steal $150 from an ex-client. I hope someone here can shed some light on this.
     
  2. I could be wrong but I see two possibilities.

    One, you're a terrible communicator or two, you're full of shit.
     
  3. I could not be wrong and I see two possibilities.

    One, you're already on IB payroll, or two, you're begging for $150 commision rebate from IB by sucking up.
     
  4. lwlee

    lwlee

    I never noticed when they took the $150 deposit. I assumed if you had a decent trading balance, there was no deposit necessary.
     
  5. It's free if account is over $100K.
     
  6. GTC

    GTC

    TedZhang8, for those accounts from which IB took deposit off for the Security Token, they are supposed to return the deposit once the token is returned to them. Ask them to run around between their departments themselves as needed to give your money back. Unfortunately, after you close your account, IB takes away the capability to file a ticket for the recent unresolved issues. In the recent past, I have seen the department that deals with Security Token responds slowly. However, my issue was finally resolved (or I should say worked around) in 2.5 months. You still have hope.
     
  7. None of the facts you presented indicates that they "refused" to refund the money, or that they are "stealing" it. It sounds like you just can't get through to the right people,. Why are you exaggerating things?

    Suggestion: call them on the phone. If English is not your best language, call their HK office. Ask the person on the phone to take responsibility for finding out whom to contact and to call you back when they find out. Get their name. Be firm but polite.

    To answer your next question, I'm not an IB employee.
     
  8. THIS HAS WORKED FOR ME THREE TIMES. TWICE WITH SOCIAL SECURITY AND ONCE WHEN I COULDN'T GET MY REBATE ON A COMPUTER PURCHASE.

    I CALLED MY SENATOR AND TALKED TO THEIR OFFICE AND THEN SENT THEM A LETTER TELLING THEM WHAT HAPPENED.

    BINGO, I GOT SATISFACTION RIGHT AWAY.

    BET IT WILL WORK WITH IB TOO. FUCK THE GD RUN AROUND. DO IT!!!!!
     
  9. Be absolutely sure they in fact deducted the 150.00 from your account in the first place.

    In my case there was no deduction made, but when I close the account, if I didn't return the device, then they would deduct the fee.

    Did you actually check if they acknowledged receiving your returned device?
     
  10. I recently closed one of my IB accounts. They wouldn't send me the last ~$100 in the account until i returned the device. One week after i sent in the device, they returned the balance of my funds. No problems here.

     
    #10     Mar 8, 2008
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