jackcrawfish said:In spite of my emails back and forth as reported here, Zecco is not going to pay my $200 bonus.

I just received the following email:

Basically this deal is dead for the majority of us? Has anyone received a bonus yet?

Please be advised we have successfully received your withdrawal request. However, we are unable to send the funds back to you in the method you requested. Zecco Forex policy dictates that when no trades are placed in the account and a withdrawal request is submitted, the funds must go back to the card you funded with. You should expect to see the balance reflect in your credit card in 2 business days. Thank you in advance for your understanding.

If you have any other questions please email us again or call us at 1-866-567-0295 or internationally at 1-626-529-7078. You can also go to the Zecco Forex Support Page.

carefreeninja said:Zecco Forex policy dictates that when no trades are placed in the account and a withdrawal request is submitted, the funds must go back to the card you funded withJust make some trades, then withdraw the 100k.

xoneinax said:carefreeninja said:Zecco Forex policy dictates that when no trades are placed in the account and a withdrawal request is submitted, the funds must go back to the card you funded withJust make some trades, then withdraw the 100k.

It is just an excuse. I made two trades and they give me the same reason. Idiots can not even have a better excuse. lol

I just got my email too re: no bonus. They suck. I didn't get the original promotion email but I'm surprised they are being so tough. I actually thought forex trading was interesting, it brought back fond memories of trading during the dot-com era. I did a little research and there are other forex accounts for me to try.

just got the chase freedom statement. got 1% Cash Back, and no any fee.

One question again: If I request a check from zecco, and it actually chargeback my credit card.
Then my cc balance would be zero. SHOULD I pay the statement balance and got a huge negative balance or not?

I also received the now-infamous email (“We wish to bring an important piece of information to your attention. ...”) as well. The pigs!!@!! And I got in before they changed their website.... So no $200 for me.

And, I see by by the above posts that Zecco seems fully comfortable with lieing through their teeth about the reason for NOT refunding via a check (“Zecco Forex policy dictates that when no trades are placed in the account and a withdrawal request is submitted, the funds must go back to the card you funded with...”, even for people who HAD DONE 1 or more trades) - and instead doing a chargeback to the card. Hence, any Rewards issued are subtracted.

So - what to do?

The card I used treated my charges as purchases so no cash-advance fee problem there, but this is quite annoying since I jammed quite a bit above the $10K into this for the “Rewards payback” pot-o-gold.

1) Has anyone tried simply telling Zecco “Sorry, I closed the particular credit card I charged this to, but I want my funds out, either by a check to me or - if absolutely necessary - credited to another of my (presumably non-Rewards) credit cards?” Is Zecco (or any vendor) able to tell whether a customer has really very recently closed a credit card or not? Sure they could check with the credit bureaus, but these collect info. mainly monthly.

2) Assuming they CAN tell - has anyone taken the somewhat more drastic step of informing their credit card “Look - I lost my card - can you help me?” My understanding is that what they usually usually do is cancel that card and issue you a new card with a new 16-digit number (same credit limit, same terms, etc.) Would this then prevent Zecco from being able to chargeback to the original card, and would they have to give your money back some other way?

3) Finally, has anyone taken the even more more drastic step of paying off then truly canceling the “Rewards” credit card they made the charges on, simply to protect the Rewards (assuming that due to their great credit they can reapply for that card, they don't really need the card that much since they have similar ones, etc. etc.) What would Zecco do then?

Just curious. Thanks for any info.

Someone should try this:
Open Zecco Forex for the $10k on a credit card.
Transfer from Zecco Forex to Forex.com for $10k and get the $200 bonus + $50 bonus.
Leave money there for 90 days.
Then withdraw money - good luck to Forex.com on sending the money back to the credit card.

For me, I'm done with this deal... This was a big waste of time...

ussrfw said:Did you transaction finally post on your Schwab CC? Is it really a purchase transaction?
Thank you very much!


mrlandlord said:Zecco said they are not even capable of classifying this as a cash advance.

Schwab said that though my charge is just a temp. authorization at this time, that it would surely be a purchase since it was a deposit of cash into an account and not an advance of cash directly to me.

usrfw,

yes schwab called this a purchase.

i am having another issue however. Trade done on 7-10, but no bonus yet. I am a zecco customer and i did get the email for this promo. zecoforex customer service says they have put in an inquiry.

I for one am not crying, and I haven't lost any $. I just don't like the idea of expending time and not MAKING any. (I might add that crying/whining is not the same as proposing possible solutions, and asking whether anyone else had tried them yet. )

To me, it's probably worth a little more of my time before I give up.