I have had a Credit Card from Avant Money (AM) for many years and have not had any major issue until now.
In July last, 3 separate unauthorised foreign currency payments were posted to my account on the same day with the same legend on each. The sum of the payments was €2,667.42.
I first became aware of an issue with my card the day after the transactions when I could not use the card in a local shop. I contacted AM who told me they had blocked the card on foot of these transactions and I was instructed to destroy it immediately and a new one would issue within days which it did. AM refunded the full cost of the payments pending an investigation.
In the week or so that followed, AM contacted me to ask if I had received any suspicious texts or emails recently. I don't open such texts or emails as a rule. I checked back but could find none. They had a particular focus on the period about 2 weeks before the payments, a time when I was adding the AM Card to my Google eWallet on my phone. This proved to be a drawn out (went on for days) and difficult process but I followed the instructions of AM representatives throughout. I recall at least one "One Time Passcode" (OTP) being issued to me as part of the process. Some time previously, I had added a bankers card to the same eWallet without issue. AM staff could not explain the difficulties encountered on this occasion.
In early September, I was notified by AM in a letter that it had concluded its investigation and had concluded that the OTP issued to me had been shared with the merchant identified on the legend associated with the transactions and accordingly, the payments were to be reapplied to my account which happened the following day with the legend "Adjustment for fraud transaction". The evidence underlying this decision has not been provided despite my requests to do so.
I have suffered a very significant loss. I am very disturbed by this outcome and its not clear what I can do to recover my money. I generally trust the licensed financial institutions of the State to protect customer' interests at all times.
I have made complaints to both the Financial Ombudsman and the Gardai but I am advised that neither process will be concluded quickly.
In July last, 3 separate unauthorised foreign currency payments were posted to my account on the same day with the same legend on each. The sum of the payments was €2,667.42.
I first became aware of an issue with my card the day after the transactions when I could not use the card in a local shop. I contacted AM who told me they had blocked the card on foot of these transactions and I was instructed to destroy it immediately and a new one would issue within days which it did. AM refunded the full cost of the payments pending an investigation.
In the week or so that followed, AM contacted me to ask if I had received any suspicious texts or emails recently. I don't open such texts or emails as a rule. I checked back but could find none. They had a particular focus on the period about 2 weeks before the payments, a time when I was adding the AM Card to my Google eWallet on my phone. This proved to be a drawn out (went on for days) and difficult process but I followed the instructions of AM representatives throughout. I recall at least one "One Time Passcode" (OTP) being issued to me as part of the process. Some time previously, I had added a bankers card to the same eWallet without issue. AM staff could not explain the difficulties encountered on this occasion.
In early September, I was notified by AM in a letter that it had concluded its investigation and had concluded that the OTP issued to me had been shared with the merchant identified on the legend associated with the transactions and accordingly, the payments were to be reapplied to my account which happened the following day with the legend "Adjustment for fraud transaction". The evidence underlying this decision has not been provided despite my requests to do so.
I have suffered a very significant loss. I am very disturbed by this outcome and its not clear what I can do to recover my money. I generally trust the licensed financial institutions of the State to protect customer' interests at all times.
I have made complaints to both the Financial Ombudsman and the Gardai but I am advised that neither process will be concluded quickly.
