Credit Cards Decision Reference 2022-0126

• Case Outcome: Rejected
• Reference: 2022-0126
• Date: 07 April 2022
• Year: 2022
• Subject Matter: Credit Cards
• Finantial Sector: Banking
• Conducts Complained Of: Disputed transactions

Decision Ref:

2022-0126

Sector:

Banking

Product / Service:

Credit Cards

Conduct(s) complained of:

Disputed transactions

Outcome:

Rejected

LEGALLY BINDING DECISION OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN

This complaint concerns a chargeback request.

The Complainant’s Case

The Complainant had a current account and a credit card account with the Provider. In the

complaint form submitted to this Office in May 2020, the Complainant set out that on 17

September 2018 he made the first of a number of fund transfers to an investment company.

Between September 2018 and May 2019 the Complainant made eight fund transfers –

totalling €39,499.00 – to an investment company. He transferred €2,000.00 from his current

account in September 2018. He made a further seven payments by credit card totalling

€37,499.00 to three different entities, between March 2019 and May 2019.

The Complainants states that he later discovered the investment company was a “scam

operation” and on 28 November 2019 he lodged a “dispute” with the Provider because he

had transferred the funds “utilizing the Provider’s [banking] services”.

In a letter to this office on 6 March 2020 the Complainant states that he and his wife “have

been scammed by [a] fraudulent investments company who has taken all of [his] retirement

plans and left [him] with nothing”.

He further states that when he authorised the payments he did not know that the

investment company was not genuine. He says that when he discovered the investment

company was not genuine, he asked the Provider to take responsibility and asked for a