Altcointraders - Refuse withdrawal

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initroot

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Altcointraders.co.za - Refuse withdrawal

Anyone have issues with withdrawals? They are demanding bank statements before they release my money.

They already have ID, proof of address, with bank statements as well what stops them opening accounts in my name etc.

What legal recourse do I have here?
 
Last edited:
Fransh said:
Anyone have issues with withdrawals? They are demanding bank statements before they release my money.

They already have ID, proof of address, with bank statements as well what stops them opening accounts in my name etc.

What legal recourse do I have here?
Click to expand...

Are you talking about the local altcointrader.co.za exchange?
 
Yes local exchange. I can’t withdraw in crypto either.
Honestly I’m not giving them bank statements, I mean wth
 
Are you a new Altcointrader user? I have been with them for about a year and just did a withdrawal last month with no issues. They have my ID and proof of residence. I don't see why they need a bank statement. They just have to pay out to whatever bank account you specify as far as I know.
 
Fransh said:
Anyone have issues with withdrawals? They are demanding bank statements before they release my money.

They already have ID, proof of address, with bank statements as well what stops them opening accounts in my name etc.

What legal recourse do I have here?
Click to expand...

Fransh said:
Yes local exchange. I can’t withdraw in crypto either.
Honestly I’m not giving them bank statements, I mean wth
Click to expand...
You already did :confused:
 
hate to play devils advocate here but isn't easier to send them bank statements again and get your money out and not use them again?
seems like a hell of alot of effort to get the law involved
 
Is your account completely blocked, or just the withdrawal to bank account feature?
 
ambroseg1 said:
Is your account completely blocked, or just the withdrawal to bank account feature?
Click to expand...

Can't do any withdrawals.
They claim it is for anti-money laundering purposes, yet cannot provide me with any reason why my usual transaction is now suddenly flagged as reasonable grounds for criminal activity.
What a joke.

The support is an absolute joke, I've phoned numerous times, yet now my money is stuck there and not getting anywhere.
 
|Blunt said:
hate to play devils advocate here but isn't easier to send them bank statements again and get your money out and not use them again?
seems like a hell of alot of effort to get the law involved
Click to expand...
I rather not give them anymore of my information.
I don't know who they appoint, next thing you know someone's opened an account in your name using your bank statements, ID, proof of address etc..
I've been through identity fraud before and not again.
 
Fransh said:
Can't do any withdrawals.
They claim it is for anti-money laundering purposes, yet cannot provide me with any reason why my usual transaction is now suddenly flagged as reasonable grounds for criminal activity.
What a joke.

The support is an absolute joke, I've phoned numerous times, yet now my money is stuck there and not getting anywhere.
Click to expand...

Jeepers. This type of BS "support" is the reason I stopped using Luno. If the amount is quite large....just send them the bank statement so you can get your money. No use in fighting this as they (altcointrader) are unfortunately not accountable to anyone.
 
ambroseg1 said:
Jeepers. This type of BS "support" is the reason I stopped using Luno. If the amount is quite large....just send them the bank statement so you can get your money. No use in fighting this as they (altcointrader) are unfortunately not accountable to anyone.
Click to expand...

It is large yes. I have provided them with a screenshot of the bank details.

The problem is the consumer have no legs to stand on, they are just doing what they want. I have no idea what more to do.
 
Fransh said:
It is large yes. I have provided them with a screenshot of the bank details.

The problem is the consumer have no legs to stand on, they are just doing what they want. I have no idea what more to do.
Click to expand...

Unfortunately them and Luno are the only SA crypto exchanges. I honestly don't know what else you can do, besides get in your car and visit their offices personally.
 
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