IQoption.com SVC docs request for my XRP.

[Drifter]

I bought a bunch of XRP on their site. I want to get some money out, but now they want copies of my bank card showing my signature as well as of my passport before they will release any funds. This sounds VERY dodge to me. What do you guys think?

 

[Werfetter]

I bought a bunch of XRP on their site. I want to get some money out, but now they want copies of my bank card showing my signature as well as of my passport before they will release any funds. This sounds VERY dodge to me. What do you guys think?

Yeah that immediately has me feeling uncomfortable... Why could they possibly require that info?

 

[Drifter]

They reckon for my security. WTF???

 

[Archer]

2. Client’s Registration
Client’s registration procedure is based on two main steps:
Client’s web registration.
Client’s identity verification.
To complete the first step, the Client must:
Provide the Company their real identity and contact details.
Accept the Company’s agreement and submit an application.
To complete the second step, the Client must:
Provide a full copy of their ID card with a photo and personal details.
The Company reserves the right to demand from the Client other documents, such as paying bills, bank confirmation, bank card scans or any other document that may be necessary during the verification process.

It's right there on the site. If you didn't want to give out that info then one should probably have not signed up there given the Ts & Cs
https://iqoption.com/en/terms-and-conditions/payment-policy

 

[John Tempus]

Did you deposit money onto iqoption with your mastercard/visa ?

If so then its normal because of chargeback potential months down the line, anyone accepting mastercard/visa need to have as much verification as possible to prevent potential fraudsters from 3 or 4 months down the line after withdrawing to request some chargeback attempt stating someone stole the card details and deposited without your consent etc etc.

It sucks but at same time you need to understand this is absolute stock standard practice when dealing with any card deposits at any crypto or non crypto exchange.

 

[*SynergyX*]

its simple -- KYC

all financial businesses do it

 

[Drifter]

Did you deposit money onto iqoption with your mastercard/visa ?

If so then its normal because of chargeback potential months down the line, anyone accepting mastercard/visa need to have as much verification as possible to prevent potential fraudsters from 3 or 4 months down the line after withdrawing to request some chargeback attempt stating someone stole the card details and deposited without your consent etc etc.

It sucks but at same time you need to understand this is absolute stock standard practice when dealing with any card deposits at any crypto or non crypto exchange.

So we learn. Thanks for explaining. It's just in todays world it seemed very dodge.