Topic: Bitstamp - wanted to withdraw money and was hit with these weird KYC questions - page 3. (Read 17458 times)

Now I also want Bitstamp to die. Didn't had many coins there but left only 5 there. Anything more is a liability.

DEATH TO BITCOIN EXCHANGES!

I agree with the opinion about this questions. Some make sense, some downright audacious...
Agree too... But does Bitstamp need this downright audacious question too? I cant imagine Bitstamp is doing it because of boredom! Got they forced to do this kind of KYC questionnaire by there bank, or the GCHQ because their UK based business entity Ltd.?


Or did ID3global some consulting in that way? What is going on behind the scene?

FYI: I just withdrew a six-figure USD balance and after vaguely answering Bitstamp's questions, the cash arrived in my account in less than a week.

All this is very normal in high risk industries. If anything being asked questions like this should make you feel more secure about using their service. It's the exchanges that don't ask these questions that you should be worried about as they are not planning ahead for regulation which is risky territory.

Thank you TheSmackDown!

PS: I have answered Bitstamp the questions and my withdraws have been resumed.

dont sound good at all, but i hv to be fair and bitstamp been ok most of the time and i got nothing to hide, i just find it weird and all else important thats wrong with the world.

The bank has made them do this, and they hv decided to take it on.

I hv to give it to Gox they hv some cock ups but they keep you secure and won't do you any wrong. You need ID and all the usual stuff, but I am starting to think they not so bad, and they did me a fiat GBP withdraw but i had to pay a percentage for a 5 day faster transfer. (Gox turned out to be a scam!!!!!!)

Obviously i like keep costs down and use bitstamp for cashing out as they are good at doing so. And i guess that arouses suspicion - just going about my normal business - so yeh there som thin v wrong with the world.

I think western union is just staying away from BTC and its not the exchanges fault, again the bank can say whatever they like and pull all the strings to get the thing working as they wish. we need our own bank. built on common sense and fairness.

Interesting that Western Union is blocking transfers to Bitstamp
https://bitcointalksearch.org/topic/western-union-refusing-wire-transfers-367873

Hello TheSmackDown, I read your answers and its good for you that you manage to pass trough .... how do you interpret :
INDEMNITYTo the full extent permitted by applicable law, You hereby agree to indemnify Bitstamp, and its partners against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if direct or not directly arising from your use of Bitstamp's Sites, Your use of the Service, or from your violation of these Terms of Use

1000 USD

probably is same as the bank amounts, but only a little over 10k english money,

which my girlfriend could spend in a day shopping easily, on a watch and one dress

How much have you tried to withdraw? is there some certain amount that triggers this??

This is not a good sign indeed.... I also got the "We kindly ask you to send us a high resolution image double page of your international passport and answer the following KYC questionnaire:"

I been through the whole thing now ppl and will paste it below so u guys can make the same complaint and ask for the same info.
For the record i don't think bitstamp is such a bad company but they are using banking guidelines in a very gross manner and I am sure their bank is forcing this compliance as a condition of providing the banking service.

What we all need do is club together and find out who we all can collectively sue for giving/making these guidelines that can be grossly interpreted and that hv no substantial prove they are actually deterring fraud or money laundering. What is required is that people are who they say they are.

Check it out, edited for my security

"sorry gone as u all got it now."

I hope u get a good idea from the above ppl. We need stand up for our rights but against the correct people - namely whoever is the regulation maker - reason being - its v easy to prove in court that AML is based on corruption and does not prevent or deter crime. Anti fraud and crime prevention should in all fairness be implemented at the companies discretion to a certain min standard at least, that is ensuring people are who they say they are without being invasive or intrusive about their personal life or spending habits etc or it becomes like a mother or father state situation. Even communist.

http://www.reddit.com/r/Bitcoin/comments/1whbjk/im_all_for_proper_kyc_but_bitstamp_this_is/

Is this happening consistently now or just to selected people?

I have never heard of any type of financial institution trying to go this deep. I have an account there. They can kiss my ring piece if they think they'll be getting that much info.

Yes go for it

What would happen if you bought back the BTC and withdrew them?

They do not only ask for question. They are asking documents. I really don't what documents is suitable.

"Thank you for your provided answers to our questionnaire. However, in order to be able to finalize the process, we would kindly ask you to please also send us any financial documentation, which can confirm how the funds you will be sending to your Bitstamp account were acquired."

What kind of financial documents can prove that?

When bitstamp started to require a verification for even the smallest amounts, they were dead for me. But what they do is... well, I can't even find the words. You should just cancel your account with bitstamp and they will have to pay out your money (or coins). As far as I can remember that worked when they added the verification thing but people didn't want to get verified to they canceled the account and got their money back. If they don't honor that you will have to sue them.

What you did was the totally correct thing. Did they even inform you about these changes in time? Whatever they do, they cannot withhold your money just because you don't want to answer weird questions. If is none of their business where their customers bitcoins came from (that might be different for Fiat tho). I suggest you give them all the information you would have to give then when you sue them, which is your name and address, date of birth and maybe location of birth (tho this is questionable). Basically not more than what is written on your ID card. Then gather proof regarding your payment to them (bitcoin TxIds, screenshots of their website) and/or bank statements. Tell them thats all they get (because it's all that has to be provided in order to sue them) and in the same message, cancel your account. Maybe send all that by traditional mail with tracking and see what they do. I am almost sure they will comply then. However, if they don't... you'll have to sue them =/

Sad to seen another exchange gone.

I hope you said "none".

they just told me basically they are boss and are not obliged but can ask for anything they see fit and do what they like. they are turning into a rubbish company with bad business ethics.

no bank asks those questions and even if they do, they can't refuse you a withdrawal of your own money. they just cancelled a fiat request withdraw as i said only my mother can ask me questions like that and no state, entity, or government can act like my mother or father.

bitstamp has bent over for the criminals who run the banking industry.

i am verified and do nothing illegal. but make good money as much as i can. crypto addict.