Luno Support and Queries Thread

phly said:
Just a question - But has anyone received their withdrawal the same day they did it. As in choose to withdraw to bank account say 2k and receive it in your bank account the very same day?

what are the turnaround times for cashing out?

Have some urgent cash that I need to withdraw and looking for faster means.
Click to expand...

Normal bank transfer times apply.
Please read through this article https://www.luno.com/help/en/articles/11000022934-how-long-until-my-withdrawal-is-processed
 
phly said:
Just a question - But has anyone received their withdrawal the same day they did it. As in choose to withdraw to bank account say 2k and receive it in your bank account the very same day?

what are the turnaround times for cashing out?

Have some urgent cash that I need to withdraw and looking for faster means.
Click to expand...

With FNB i recieve it about 10min after cash out time.
 
4cer said:
With FNB i recieve it about 10min after cash out time.
Click to expand...

wow, wish that would happen in my case as I am with FNB as well.

Can only hope and pray.

Deposits however have been happening almost instantly off late so kudos to the Luno team for that.
 
At my limit of deposits and submitted my docs for a level up 2 days ago. Guess Luno doesn't want (more of) my money.
 
Despirately going to try and see if I can find joy here. I created my account and got verified to only level 2, but did submit all my documentation needed to be on level 3. So I reached my limits and now I can't do any deposits / withdrawals, so i resubmitted all my documentation in order to be verified for level 3 to have the limits removed, but not getting any response or my ticket actioned. Any way this can be fast-tracked, as they stated that they give preference to customers nearing their limits, however my limits have been reached but still not getting any support to get my account verified for level 3. Any advice (apart from waiting it out, which I have been doing).
 
I just got whacked BTC 0.00089422 fee for transferring BTC 0.0002 by Luno.

The fee confirmation screen that their help section on their website refers to never appeared on the IOS App.
That's R200 for a transfer, they priced the transaction at the next block fee, instead of giving a choice to lower the fee by selecting a less priority block.

I take it on the chin, since I was playing with the app to see how it works and wasn’t expecting a transaction to go through, was expecting 1 more step.

Question if there is more than 1 transfer in a transaction how are the individual transactions priced ? Since there were 6 transfers in the transaction I did from Luno, I seem to be carrying the bulk of the fee since the according to https://blockchain.info/ the fee for the whole transaction was 0.0011165 BTC.

Is each transfer separately calculated, or is Luno just maximizing revenue ?
 
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PURE said:
I just got whacked 0.007 BTC fee for transferring 0.002 BTC by Luno.

The fee confirmation screen that their help section on their website refers to never appeared on the IOS App.
That's R200 for a transfer, they priced the transaction at the next block fee, instead of giving a choice to lower the fee by selecting a less priority block.

I take it on the chin, since I was playing with the app to see how it works and wasn’t expecting a transaction to go through, was expecting 1 more step.

Question if there is more than 1 transfer in a transaction how are the individual transactions priced ? Since there were 6 transfers in the transaction I did from Luno, I seem to be carrying the bulk of the fee since the according to https://blockchain.info/ the fee for the whole transaction was 0.0011165 BTC.

Is each transfer separately calculated, or is Luno just maximizing revenue ?
Click to expand...
0.007 BTC is an R1800 fee. That is outrageous! Unfortunately Luno will not believe that the total fee amount was not displayed in the app. Many people have lost thousands of Rands this way, but they are all being told that they must be mistaken.
 
PURE said:
I just got whacked BTC 0.00089422 fee for transferring BTC 0.0002 by Luno.

The fee confirmation screen that their help section on their website refers to never appeared on the IOS App.
That's R200 for a transfer, they priced the transaction at the next block fee, instead of giving a choice to lower the fee by selecting a less priority block.

I take it on the chin, since I was playing with the app to see how it works and wasn’t expecting a transaction to go through, was expecting 1 more step.

Question if there is more than 1 transfer in a transaction how are the individual transactions priced ? Since there were 6 transfers in the transaction I did from Luno, I seem to be carrying the bulk of the fee since the according to https://blockchain.info/ the fee for the whole transaction was 0.0011165 BTC.

Is each transfer separately calculated, or is Luno just maximizing revenue ?
Click to expand...

Bitcoin fees are generally excessively high at the moment, that's not something that's specific to Luno.
I replied to a similar query a few pages back, I've quoted it below.

I don't have an iOS device to test this now, I'll be in the office a little later. The screen where you enter your PIN does display a fee though.

Positively Negative said:
Hi All,

Please can someone explain to me how Luno charged me R370 to send R1000 to Binance?
Is this normal? Is this how we get milked?
I have been building my BTC value fraction by fraction but want it OFF those Thieves' wallet asap.

Please could you point me in the direction of a process (if there is one), that allows South Africans to purchase BTC without being absolutely molested. Fees are a part of the game but you can't tell me a 30% plus fee is acceptable.
I am quite disappointed as I actually believe Luno were a good service.

Any advice. I know this question has been asked a lot I'm sure, please move the thread if necessary.
Thanks.
Click to expand...

We do not set the price for on-chain transactions, this is done by the Bitcoin network itself.
It's generally very expensive to broadcast a TXID at the moment, there are over 100 000 unconfirmed transactions waiting to be mined and confirmed in blocks.

This drives the fees up. You can do some reading (I've included links to third party sites to remove any potential bias) and see the current fees to confirm a transaction. Currently it's ~R210 to do an on-chain transaction.

The send fee is displayed before finalising the transaction.

https://www.luno.com/blog/en/post/dynamic-send-fees
https://blockchain.info/unconfirmed-transactions
https://bitcoinfees.earn.com/
https://www.cnbc.com/2017/12/07/valve-steam-drops-bitcoin-support-cites-high-fees-volatility.html
https://arstechnica.com/tech-policy/2017/12/bitcoin-fees-are-skyrocketing/
 
Sensorei said:
0.007 BTC is an R1800 fee. That is outrageous! Unfortunately Luno will not believe that the total fee amount was not displayed in the app. Many people have lost thousands of Rands this way, but they are all being told that they must be mistaken.
Click to expand...

Was late last night, skipped a zero it was a BTC 0.00089422 fee for BTC 0.0002
see screenshotluno.png

I this up to warn people and see if somebody can shed light on how the fees work.
 
Lunomoney said:
Bitcoin fees are generally excessively high at the moment, that's not something that's specific to Luno.
I replied to a similar query a few pages back, I've quoted it below.

I don't have an iOS device to test this now, I'll be in the office a little later. The screen where you enter your PIN does display a fee though.



We do not set the price for on-chain transactions, this is done by the Bitcoin network itself.
It's generally very expensive to broadcast a TXID at the moment, there are over 100 000 unconfirmed transactions waiting to be mined and confirmed in blocks.

This drives the fees up. You can do some reading (I've included links to third party sites to remove any potential bias) and see the current fees to confirm a transaction. Currently it's ~R210 to do an on-chain transaction.

The send fee is displayed before finalising the transaction.

https://www.luno.com/blog/en/post/dynamic-send-fees
https://blockchain.info/unconfirmed-transactions
https://bitcoinfees.earn.com/
https://www.cnbc.com/2017/12/07/valve-steam-drops-bitcoin-support-cites-high-fees-volatility.html
https://arstechnica.com/tech-policy/2017/12/bitcoin-fees-are-skyrocketing/
Click to expand...

I did a quick test,
This what the screens looks like, if you put your pin the transfer will happen.
luno3.jpgluno2.jpg
 
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PURE said:
I did a quick test,
This what the last screen looks like, if you put your pin the transfer will happen.
-snip
Click to expand...

Hhhmm, thanks for posting this.
I'll chat to our iOS guys today to see why it isn't displayed.

As a comparison, this is what we display on Android:

LgpjeRo.png
 
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not sure if it's been asked yet, but is there any benefit of hopping between BTC and ETH? in other words, if ETH starts to drop and i convert to BTC, then when ETH is low, converting that BTN to ETH so i get more ETH. i had some BTC, but it started dropping, so i swapped to ETH without thinking about fees, so i had a look at the transactions, but it doesn't show any fees for that transaction.

is it possible that there is no fee then?
 
Still waiting for verification. Still receiving mails about the limits daily. So much for having those at or near the limits prioritised.
 
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