Review Payback LTD

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Payback-ltd Review

Payback-ltd is expert at using international banking laws to reverse transactions made to fraudulent brokers. They charge an upfront fee to pay for the process and a success fee at the end when the clients get their money back. Payback-ltd will tirelessly keep pushing through every possible avenue to recover their client’s funds until they succeed or exhaust all options. That is Payback-ltd business model.

Pros

  • Verified address and business registration in Israel
  • Variable pricing formula and low commission rate compared to competition
  • Highly skilled team with In depth understanding of banking laws and scam industry
  • Deals primarily with trading scams
  • In case of failure, second attempt free of charge

Cons

  • Limited track record and reviews
  • Pushy Sales force

My Experience with Payback-ltd

I’ve been watching this company’s online profile expand online over the first 2 months of 2020. Before that, they were only a slick one-page website like so many other fake recovery companies out there. They now have expanded their site to a full site giving them more credibility indeed. Also, Payback-ltd has a constant top ranking advertised presence on google which means they are serious about getting clients.

Unfortunately there is very little observable track record for this new company and its hard to tell if they can actually recover lost money scammed by fraudulent forex brokers and binary options brokers. And Since I have a case of 75k that needs settling, I contacted them to ask a few questions. I first had to open a claim to get to speak to a claims analyst/salesman. Soon the clerk i was speaking to got spooked by my questions and referred me to Payback-ltd Recovery Department VP, Andrew Kelly, who took the time to answer my questions.

More on Payback-ltd and the recovery process

When contacting Payback-ltd, you will be talking to a claims analyst who will be evaluating your claim for fund recovery feasibility. Here are the criteria used by Payback-ltd to assess your claim.

  1. Who did you send money to
  2. How was the money sent (credit cards, wire transfer, cryptocurrency)
  3. Which country governs your banking laws
  4. The date at which the transfers were made (is it too late or not)

The country in which your banking institution resides will determine the level of difficulty Payback-ltd will be facing when attempting to reverse a transaction. For instance, according to Payback-ltd, it’s much easier to operate a credit card reversal in Australia than in the UK. Again its much easier to do a wire transfer recall in Canada than in the US.

Time is the name of the game

There are stiff time frames associated with the process of reversing charges on credit cards and recalling wire transfers. Payback-ltd will consider this information before taking on a case. Beyond the time frames allocated by these set of rules, there is nothing Payback-ltd can do to help recover the transferred funds.

The fees and the team

When the claims analyst evaluates a reasonable rate of feasibility, he will then quote you a fee for processing your claim. There is also a success fee which is a percentage of the recovered funds. This pricing formula is case-based and can be adapted from one client to another. It could be something like $750 upfront with a 9-10% success fee, or $2500 upfront with a 4-5% success fee at the end.

If you agree to these terms, your case is then given to a recovery agent. This is the person who will work with you at building your case to operate the charge recalls. He will ask you for all the information you have about your transactions and communications with the scam broker. Bank statements, emails, contracts, recorded phone conversation, etc.

Each recovery agent is english speaking and has been selected for his educational background. Before handling any case, each recovery agent is given a 3 months training course in funds recovery. The recovery team involves highly skilled professional such as a former VP of a recovery department of one of the biggest bank of Israel; lawyers experts in banking laws, an ex-manager of the recovery department of one of the biggest broker known, a forensic accountant, a chartered financial analyst (CFA), and more.

Review: Payback LTD

Today I’m reviewing another service dedicated to reacquiring lost funds from unscrupulous binary options brokerages, Payback LTD. The creators of this service believe that they have what it takes to have your funds returned to you, because the “company is comprised of people that used to work in the options and Forex industry.” They believe that having insider insight, sets them apart from their competitors, and gives you the edge you need in order to recover your money.

Considering the type of business, it’s quite odd that the creators of this service do not provide us with their company address. They do provide us with their email address, and three numbers for phone support. Traders can email [email protected], or call US 1-6469680944, UK 44-2033188546 or AUS 61-283174997. It’s good to see that they have full support, but I still would like to know why they are not providing us with a physical address.

Payback LTD Review

The Payback LTD group uses a 4 step process, they feel is the most efficient way at returning your money. They review all of the details of the complaint, collect all of the necessary documentation, then confront the owners of the companies, as well as their banks, and finally claim back your funds. Obviously, they make this process sound simple, but I’m sure you can expect some difficulties throughout this process. It’s an assumption, but I believe that working through process like this would require a fair bit of patience.

In order to qualify for fund retrieval, traders first have to recognize if the broker they are utilizing is either regulated or unregulated. The team tells the community that unregulated brokers will frequently advertise automated systems, bonuses and insured trades as ways to entice new clients, but none of these aspects can be trusted. The automated systems are program to lose, while the bonuses and insured trades features are just used to lock traders into contracts that ensure they aren’t able to withdraw their funds. In most cases, the binary options broker will provide you with the bonus, but in the small print, it will say something like you have to trade this bonus 30x, before you can withdraw any funds.

The bottom line is, you have to be very careful when you sign up with a binary options broker , and you should never sign up with an unregulated broker.

What’s Required Of You

In order for the Payback LTD team to start working for you, you need to provide them with adequate information they can utilize to build the case.

Provide all trading statements and transactions

  • Link to the broker or advertisement you signed up with
  • All communications you’ve had with this brokerage
  • After you’ve set this information to the team, they will analyze your complaint to ensure that it is valid, and then make sure you agree with their terms, so that they can start pursuing your funds.

    Binary Recovery Skepticism

    I’ve reviewed the 3 websites dedicated to recovering traders funds from binary options brokers, Wealth Recovery International , Win Chargeback and My Charge Back . Payback LTD is the fourth, and I can’t say I have a clear picture of this new recovery market.

    While there are quite a few companies doing this, I’m not so sure how successful any of them are. In closely following the comments being made here on binary today, I’ve yet to hear any glowing success stories. That doesn’t mean that these services are working, or doing everything they can to recover traders funds, but it is contributing to a healthy dose of skepticism that’s only building over time.

    My main concern, is that most of these services are requiring traders spend a fair bit of money on the front end, with the expectation that they will recover their funds. Yet, if the funds aren’t required, traders can be out anywhere from $600-$1200 in addition to the original funds that were lost.

    I’m not saying that any of these services are bad, but you have to understand that there are no guarantees when it comes to dealing with banks or unregulated binary options brokers, so using a service like this one will be a risk.

    Conclusion

    I’m in no position to recommend Payback LTD or any other binary options recovery service at this point in time. In order for me to truly believe that these services are worthwhile, I would need to see some real client feedback, and not just testimonials on the sales page, but real comments made here at Binary Today.

    Thank you for reading the review, and please leave your comments below the article now.

    MONEY BACK LTD Reviews

    147 • Excellent

    Write a review

    Write a review

    Reviews 147

    I lost $89,750 (USD) and was desperate.

    I lost nearly $90,000 in a trading scam run by FSMSMART. Prior to the scam I had cash on deposit, investments and no debt. I lost the lot and was in significant debt. My financial predicament was seriously bad. In desperation, I came across topchargebacksites.com and chose PayBack Ltd to claim my money back. I was struck by their mission statement “We aim to move Heaven and Earth to get your money back.” Although to be honest I wasn’t holding out much hope at the time. That was back in September 2020.
    PayBack Ltd took my case on and I gave them as much information as possible. They use the banking laws to retrieve funds. I found PayBack Ltd, based in Israel, to be utterly polite, professional and focused. They pursued my case using the banking industry ‘charge-back’ process. This can take some time, I suppose it all depends on the circumstances and complexities of the case, so you need to be patient. By March 2020 I received back 100% of my money. I was absolutely delighted and relieved. PayBack Ltd
    had done a fantastic job and I pay tribute them and thank all concerned especially Brian and Dvir. If you use PayBack Ltd to recover your losses i’m sure they will do all they can to help you.

    Victim of a scam

    My case is still on going but having being a victim of a huge scam I know how difficult things can become especially when you have been so naive & gullible & feel embarrassed for falling a victim of such thing. As soon as I was made aware that I fell into a scam I immediately contacted the bank, frauds departments & any recovery teams I could find online. After having done hours of research I found paybackLTD to be the most legitimate company. After a multiple breakdowns n panics & with the bank and frauds departments doing very little to help, with the help of Ariel and Eyal, the two agents working on my case, the bank had responded and had refunded £2000 of the loss I had faced. Although this is not all of the funds, the process is ongoing as stated above and I couldn’t be more thankful! If anyone is going through a similar case, I would 100% recommend this company!

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    Hi there, we are all sitting in the same boat.

    Hi,
    My case manager Oren is doing his very best to recover my stolen money.
    I lost about 25000 € to scam companies and so far i got 2600€ back in a short time,and this is just the beginning.
    Thank you..

    I was scammed 30K (USD) and Payback…

    I was scammed 30K (USD) and Payback Ltd. gave me needed competence to get my money back

    I´m real thankful for all professional help from Payback Ltd., both Ann Ahronson and Rebecca Klein.
    Payback Ltd, with a lot of contacts, strong competence and experiences, do give you needed support and help to formulate strong letters etc. to scam broker, bank, governments and others…
    Letters needed to success with payback. Invaluable help that did strength me a lot as innocent scammed person.

    You can called me “Lily”

    You can called me “Lily” – I was scammed by Trustfx and lost USD$7500 and another AUD$2850 with OneCoin. Payback has helped me to fight the case and has helped me to retrieve some money back. This is so far as local banks is concerned, but the fight with offshore bank according to my case Manager, Ariel & Dvir is still ongoing and they will not give up. I admire their determination. From my experience, they are genuine in helping me but I wish they have simply act on my behalf. My case started end of Aug 2020 and is still not resolved. Whatever it is, I am still grateful that such company exists to help victims like us.

    I lost € 17000 by answering to an…

    I lost € 17000 by answering to an appeal that other losses would be paid back if I paid € 17000 in advance. I reported this event as phishing to my bank, but I think ultimately my bank transfer was paid back thanks to the effort of MONEY BACK LTD and especially Gilad Epstein to whom I extend my thanks.

    Thank you Payback Ltd. I was scammed in 2020 and have gone to…

    I was scammed in 2020 and have gone to Payback Ltd. to try to retrieve my lost money.Ron has been working diligently on my case and I’ve received a small amount back. Whilst it is still ongoing he has kept me regularly informed on progress and I’m very happy to have Payback on my case and have Ron’s knowledge and persistance.

    Ecstatic

    Hello, My name is Lance Woods and I lost 26,000 AUD with a fraudulent investment firm GoldenSkyCapital, who had taken advantage of my lack of experience by pushing me to invest more and more through aggressive phone calls and very sophisticated sales tactics.

    The company has promised me huge profits and great income to begin with, it went on well in the beginning until the broker had caused me to lose all of my funds with them, I attempted to resolve this with the company itself but it was futile and only to realise that this was a scam company and a ponzi scheme stealing off people’s money and manufacturing charts.

    I then reached out to PayBack Ltd and utilized their service to retrieve the lost funds, they took matters to investigate the case with the evidence provided by myself upon which they have professionally predicated the paperwork to be sent to the relevant parties, including the bank. This helped pressurizing them to cooperate by showcasing their wrongdoing and fraudulent nature, as well as to set consequences in the event of non-payment.

    With the help of PayBack and after back-and-forth negotiations with the bank and the regulations (i.e. Australian Financial Complaint Authority) I have successfully got 100% of my money back and a 1000 AUD Goodwill compensation.

    I would strongly recommend all victims who have lost their hard-earned money to an online investment scam to contact PayBack Ltd, so they can take all affordable and relevant measures and actions to help refund this money to you, expeditiously and ultimately

    My opion on payback

    I am going to give you my honest opinion about payback they are a 1st class company. Who within a few weeks I had my money back thanks to Gilad Epstein who done a great job he is friendly and professional

    FxReview.com

    I was scammed by a company called FxReview.com to the tune of approximately $15,000.00. I was reluctant to engage a third party scam retrieval company to help with the card charge back claim but eventually after a few phone calls with Dean Shulman, at Payback Ltd, I parted with the upfront £1000.00 fee. I was appointed a senior case manager, Brian Cohen, who in due course prepared a very impressive document setting out my claim which I forwarded to Barclaycard. The essence of the document was to advise Barclaycard that due diligence should have been made about FxReview.com before allowing me to deposit funds with them. Whether or not the prepared document helped in retrieving the funds I’ll never know because after many phone calls with Barclaycard it became apparent that I only had to contact them myself and I could have triggered the card charge back without any third party help. However, and it is a big HOWEVER! Try going to bed each night thinking you’re the only one dealing with the might of Barclaycard? What if they turned around and simply said, sorry we can’t do anything else for you the card charge back didn’t work, you’ve lost your money. Then what?
    Enter PAYBACK Ltd.
    The document presented to Barclaycard charging them with ultimate responsibility to retrieve my funds was really very impressive and I felt confident it would do the trick. Perhaps it did, perhaps it didn’t but what is sure I got all my money back down to the very last penny.

    Beware beware be very aware of this outfit

    Not yet had an experience with them, but after checking them out and the online reviews, I intend to steer well clear.
    The old adage applies: Once bitten, twice shy
    Don’t pay up front good money that’s yours expecting it to chase after and refund the bad money that you lost.
    Even 1 star is overrating it.

    Mechanisms of scam recovery part 1

    If is my belief that the recipients of the reviews published on this review website have an interest in receiving these reviews. This review is directed and intended at persons who may be interested in engaging the scam recovery services of Payback ltd.

    This is my second review about Payback on trustpilot. It has been updated to reflect the progress i have made with Payback on their scam recovery services. Payback has repeatedly declined to elaborate on the details of their scam recovery strategy. Payback has accused this review and my first review of being defamatory in nature. Trustpilot allowed my first review to remain because it didn’t violate the user guidelines. I have removed my first review. My experiences with PayBack Ltd have been terrible, and they have refused to reimburse my upfront fee unconditionally. Payback ltd hasn’t been prosecuted for fraud/misrepresentation but has been accused of these activities before.

    I lost my bitcoins at a cryptocurrency website last year and engaged PayBack Ltd to help recover my money. I paid them over $4000 AUD in upfront fees. The PayBack Ltd representative told me on the phone that they could try and recover money from the scam website, but they couldn’t even do that. They didn’t even provide me with a plan of the recovery process immediately after i paid my upfront fee. They waited until after they started the recovery process and gave me two letters to send to my banks before providing me with a recovery plan. They argued that they briefly mentioned about recovery my money from other companies that may related to the scam. I don’t recall this, and they have refused to provide any evidence. Essentially, it is my word versus their word. They have also said that i should’ve specifically asked for a plan. The PayBack Ltd website doesn’t even provide a plan for cyptocurrency fraud recovery. The closest thing i can find to a plan is for forex/binary option fraud. In their description of the recovery plan for this they describe going after the forex/binary option “broker” and not other companies. They claim they are “professionals” and know what they are doing and that i should just trust them. Payback has accused me of sourcing my information from the internet, which is of dubious quality and accuracy. I have replied stating that not everything on the internet is useless rubbish and that they are generalising too much.

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