MBL Prime - Warning

Anyone else have difficulties with MBL Prime?

I've had money go missing and money added (or so they claim
This morning I pulled a bid 10 mins before market opened and my my account wasn't credited with the $1000 collateral I put up. I got the impression it's a common problem that only gets picked up when clients call.

Yesterday I had a call from them saying there's an extra 500 dollars in my account but they don't know where it has come from. They say it was credited in September. I ask why are they calling me now and was told they have been trying to trace it and they having lots of errors. I say that until they can show me where the money came from they cannot take the $ out of my account citing that maybe the money was always in there and the error is different. The guy at the desk aggreed with me saying that they can't prove where the money came from only that it is there.

Not trying to be difficult, but these guys didn't really give me any reason to trust them that it was a genuine mistake. There were a lot of ums and maybes and we don't knows so I said when you can prove the error in writing I will agree to the finds being removed. THey have had 3 months to source the funds and can't.

For all I know the money was originally mine and the computer has made a mistake!!

I was with Mac many years ago but stopped using them. Left $100 in an account for a few months then one day checked a statement that came in....during the month, 15K went in then came out 3 days later. Rang them and they said it was an error on their part, sorry for the stuff up.

Several years later, same thing happened to my folks but this time it was a $50K error!!!

So I don't think yours is an isolated problem. Needless to say I haven't used them since.

Cheers