Payback-ltd is one of the three main players in the fund’s recovery business. Payback-ltd has a large workforce managing several hundred cases simultaneously. Despite the fact that they hire in house lawyers and have lawyers firms on retainer in various jurisdictions, Payback-ltd do not use litigation as the main course to recover your funds.

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 2019. 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)
With this information, Payback-ltd can determine if you have good chances of recovering your funds. The way you transferred the money will determine which set of banking laws will be manoeuvered to recover your funds. Transactions made by credit cards are much easier to reverse than wire transfers and wire transfers are much easier than cryptocurrency transaction.

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.

This is a very qualified team and according to Payback.ltd, if they can’t get you your money back, no one else can. They claim to have a success rate hovering around 70-75%

 

Credentials and Testimonials

Payback-ltd is a registered Israel LTD. business that is listed as Money Back.LTD Reg No – 515711653

They have offices in Ramat Gan next to Tel Aviv in Israel, which is at the heart of the Binary Options Scam industry that raged the last decade.

When asking for documentation about the legitimacy of Payback-ltd, I was presented with a very recently signed settlement agreement between a broker and a client. Although it did not mention moneyback-ltd on the document, I assumed they were responsible for it since they had a copy . This is convincing evidence of Payback-ltd ability to recover funds.

As far as testimonials go, the Payback-ltd.com website displays a testimonial page with a few positive reviews illustrated with the typical stock photos found on scam sites. I’ve seen so many scam sites now that I can’t put any fate in these.

There is also 3 video testimonials saying almost the same thing as if reading a text saying ‘Hello, my name is Joe, I have lost my money in a scam and Payback-ltd helped me get it back. I recommend them”. Not very convincing. These videos can be found on the testimonials page of their website. Although Payback assured me they are legitimate reviews, I think Payback-ltd could really use some professionally filmed testimonials as I find these ones to be very little convincing

Trust Pilot Reviews on Payback-ltd

On the other hand, Payback-ltd has nice positive reviews on Trust Pilot. Several people mentioned having recovered their funds while others simply express gratitude for the progress of their case.

Some unhappy costumers are being addressed politely by Payback-ltd explaining the point of view of the company. At the time of writing this review, Trust Pilot is giving 4 stars to Payback-ltd.

The Rating

They are a verified registered business with an address. They can be reached on the phone and they answer every email. This is not a recovery scam.
The settlement agreement document I got from them seemed like a proper case settlement with a corporate seal from the defendant. That’s a sample of a track record I can trust.
The pricing formulas are adapted to every client and have a much smaller success commission than some of the competition, which makes it affordable.
Payback-ltd doesn’t give up until all options are exhausted. They know every banking laws for every countries and how to use them. They only drop clients if they deem there is no more possibilities to recover the lost funds.
The sales force can be pushy at times and hesitant to answer questions about the business. This is not adapted for clients who just got scammed. With so many recovery scammers out there, Payback.ltd should really make an effort to present evidence they are expert at recovering funds.
Payback-ltd is one of the three main players in the fund’s recovery business. Payback-ltd has a large workforce managing several hundred cases simultaneously. Despite the fact that they hire in house lawyers and have law firms on retainer in various jurisdictions, they do not use litigation as their main course of action to recover your funds.

Payback-ltd is expert at using international banking laws to recover their client’s funds. 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.

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