Update: After some more emails to AMP providing them with the exact same links i provided here showing there wasn't a propper notice given they waived my currency conversion fee and wire withdrawal fee. As of now i am not going to delete this thread just yet since i expect some other clients will also be affected by this sudden change with no notice. I can understand the reasoning from AMP to no longer accept these services for withdrawals and deposits but hopefully AMP is going to send out an email to all traders who used these services in the past and give them at least 24 hours notice for withdrawals only so customers can act upon it if they want to, that is what i call a notice and proper customer service. So in the end i got there and they waived $60 in fee's. Too bad they couldn't do that the first times i contacted them and asked for a solution, multiple times. No hard feelings though since in the end it was resolved and despite them being a large multinational corporation i hope next time they will announce these kind of changes the proper way .
Occasionally some of the humans that work at a large multinational corporation have something that resembles a moral compass. You got lucky and found one of them. You might have had a case, for the courts or for arbitration, if they had not refunded the fees. Depends on how their T&C is written. In their own contract--the one they wrote--how do they have to notify you of any changes? And even if it does say that they can notify you by making changes to the information on their website, would that hold up if the changes are not prominently announced on the home page, or popup whenever you log in? Or... is the change that they made one of a small number of changes that they are permitted to make without notice? For example, there are some changes that they are permitted to make without providing notice if the changes is required to by law, or to address an immediate threat to the security of their network, etc. If they stopped accepting funding from that particular source in order to get into compliance with AML laws, they may not have been required to notify you in advance. BMK
I use AMP(over 3 yrs now) and although i havent made any withdrawals in the last few months, they should at least send out an email to their clients to give proper notice of these changes.. in a court of law its called DUE DILIGENCE....
Hello all. We want to provide some clarification to help. There are a few types of actions that we send out mass notification to all customers: Anything that affect/changes our customers ability to trade normally (Such as trading system outages, temporary margins increases, holiday trading hours...) and any price or operational changes that would be affecting ALL of our customers (Such as changes to CME exchange fees...) For these types of actions we send out mass email notice to all customers and publish notices here: https://news.ampfutures.com/ For general operational updates (adds/removes/changes) to service we do NOT send out mass email notice > we publish general notices here: https://support.ampglobal.com/hc/en-us/categories/360000223753-News-Notices-Announcements We always are here to help our customers via Phone, Live Chat or email: https://www.ampfutures.com/contact-us/ Happy Trading!
Wouldnt free ACH withdrawal work, if the wire was sent to an account in the customers name? You can set up US bank details for your transferwise account, then send a wire to transferwise with your name as recipient.
shit happens. if you are so sore losing 60 bucks you shouldnt be here. I dislike AMP but they are in the right. They dont have to send emails every time they change something. It is you who needs to exercise due diligence. also if my broker would send me email for every little thing (especially if it doesnt concern me - not everyone needs to know about ACH changes) I would be pissed off..
So again, you read every single word on your brokers website every single day just in case your broker changes something without any form of notifications anywhere? Even the link they posted in which they claim to publish general notices: nothing. They didn't even have to mail every client, just everyone who used one of those services to make a deposit, shouldn't be that hard to do. I did do my due diligence, i did know what i was getting into and even contacted AMP ahead of time to make sure i could use TransferWise. What i didn't expect was AMP making changes without any notice at all, making it so that i couldn't react before the changes would affect me, changes that do have an impact on all clients that used these services. It wasn't just a change in ACH withdrawals either, it was a complete ban on services that were allowed in the past. The minimum they should have done was giving clients who used those a chance to react. As i have said, this wasn't about the money, it was a small account just to try some stuff out anyway, i wouldn't even care if it went to 0. It is the principle that matters. I wonder if they are going to give all other clients involved a free conversion and/or wire as well.
This thread exists because the OP doesn't want to pay the fee for a wire? C'mon, fess up. There is like $500 in your account.
I think it is because you didn’t read everything on their website properly. Sometimes, these little things make a huge difference in the way you trade. You must clear everything beforehand.