Topic: Delete thread please (Read 2825 times)

Op you should change the thread now, since they fixed your situation.

Just be grateful some people who been on other exchanges been screwed over and never got any form of money back.

Our account with Fidor only supports EUR payments at the present time.

Glad to hear the funds finally landed in your bank account davdavkr. We would appreciate it if you edited the title and the original post to indicate the issue has been resolved. We heard back from PayCash today, who said that the payment did not get sent from their end until Thursday 5/19, so that was the source of the delay, and they apologized to you for that (its great they responded to you so quickly).

As you suggested to us, we will consider revising our statement of 5 business days max for PayCash SEPA withdrawals. Perhaps 7 business days would be better. We'll also make it clear that the max is just an estimate and it's possible for transfers to take longer if things don't go smoothly. Your support request was not handled well by us and we apologize for that and all the unnecessary aggravation this incident caused you.

The moral of the story for future reference and to avoid ulcers. Don't just give some website a fat stack of your cash just because they have a good looking website or you read some shill reviews. This had a happy ending but that's the exception not the rule.

you may edit the title and original post.

They're too trendy and edgy to use Fidor. They shove off their light work to PayCash. If you're as cool as Kraken is then you don't have to worry about crap like personalized service or speed and efficiency. Leave that crap to the little guys like your local Chase Bank or BofA branches.

what I wanted to say is that their payment processor has no fault in this story. This is between you and Kraken.

Also, I don't understand why Kraken is using a payment processor instead of their Fidor's bank account. They said that Fidor bank (from Germany) is like their "partner"...

you won't receive the funds during the weekend from ANY bank....

also, their payment processor is out of discussion. maybe they didn't even receive the bank wire order for you....

you have a problem with Kraken. I know you are mad but you need to think...

In

to see what happens here.



lawyer up or maybe http://s32.postimg.org/apvpggchx/KMv_CNKn.png  
(not really serious)


Hope you get your money op

We are already doing everything we possibly can at this point to find out why you don't have your funds yet and to get them credited to your bank account as soon as possible.

I don't know why you say you are not being replied to by email. We responded to you just yesterday with the only update we have for you at this point - namely that we are contacting PayCash to inquire about your payment and will let you know as soon as we hear back from them. But we responded again today with that same update.

I also don't know why you say we are trying to "cover this up." I gave a completely transparent summary above of the situation so far. It's not pretty and we are not trying to hide that fact, but I'm not sure it's quite as ugly as you are trying to make it seem either. We understand your frustration and apologize that this is such a slow process, but again we are doing everything in our power to move things along as quickly as possible.

Well Op, it seems you got someones attention despite the lack of transparency with your story with email conversations and what not.

If they reached you out here, it seems they are putting some effort on your situation the sitting around.

So it seems the payment method is more of the issue here then the actual exchange, which is very unfortunate.

it reads like it's more of an issue with PayCash than Kraken. choose your intermediary with care.

Kraken is a great exchange and would like to vouch for them. Been trading all sort of pairs at their exchange and never had an issue. There are some clear areas for improvement like adding websockets support to their API and making customer service faster but other than that I'm very pleased with their service.

never had a problem with kraken either, used them for years

you need to do it in the morning to have it in 8 hours, for the same day, i'm doing my sepa from their bank to my deutesche bank account, since they are both german bank, the sepa is very fast

You shouldn't worry dude, your money is coming from PayCash. They've been seen in the Wall Street Journal AND the New York Times, it says so right on their trendy, edgy, cool website. They're an old well established financial giant founded way back in 2012. They are also regulated by the government of Luxembourg (the only country in the world that can get their ass kicked by Trinidad and Tobago). ROFL

I understand and I think you have good reason to be upset about the slow response from our support and in general about how long this is taking. However, you have to understand that this process is going to take some time. You contacted us yesterday letting us know the 5 business days was past and we replied today letting you know that we will contact PayCash and let you know as soon as we hear back from them. We have not heard back from them yet and won't until Monday at the earliest. As for a reference number, that is also something we will need to get from PayCash. SEPA normally takes less than 5 days, yes, but through PayCash it takes longer because there is extra processing involved. And 5 business days is only the upper limit for payments that process normally. Obviously there is something wrong with your payment and in such cases it can take much longer than 5 business days to get the funds.

Hi davdavkr - I work for Kraken and manage our main thread here on bitcointalk (https://bitcointalksearch.org/topic/ann-krakencom-exchange-with-usd-eur-gbp-jpy-cad-btc-ltc-xrp-nmc-xdg-str-eth-290799 - best place to complain for future reference).

First, let me apologize for the bad experience you have been having with your withdrawal. Here's a review of the situation as I understand it:

• You initiated a GBP withdrawal with us on May 11th (amount equivalent to about $9700 USD).
• On May 13th you created a support ticket about the withdrawal due to concern it was not completed correctly.
• We first replied on May 14th saying we would look into it for you.
• On May 16th we replied again saying that the payment was probably on route and to give it 5 business days to arrive in your account. This was a SEPA withdrawal with our payment provider PayCash and as explained in our support documentation these payments can take up to 5 business days (https://support.kraken.com/hc/en-us/articles/201352586-How-long-do-withdrawals-take-)
• Yesterday, May 19th, you replied saying that it had now been 5 business days but you still did not have the payment (it had in fact been about 5 business days at this point given that the 16th was, I believe, a holiday for PayCash).
• Today, May 20th, we replied back saying that we would inquire about your payment with our payment provider PayCash and get back to you as soon as possible once we hear from them.

One other thing I want to clarify - I can understand why you might think that the "Success" status you see in your Kraken account is supposed to mean the payment arrived to your bank account, but it doesn't mean that. So we are not trying to tell you that the payment has arrived to your bank account with that status.

I understand your frustration with this process, because it is very slow, and I agree that we could have been more responsive about it with quicker replies. But I'm not sure there's too much more we could have done so far to speed it up. We generally have to wait the full 5 business days before initiating a full-blown investigation with PayCash about the payment (otherwise we'll just end up with too many needless inquires about payments that are OK). And all we can do at this point is inquire with PayCash and have them investigate the payment. I'm not sure why you haven't received the payment yet, but we will get to the bottom of it and you will get your funds. And we will do everything we can to get your funds to you as soon as possible, but unfortunately this can be a slow process and we don't have full control over it.

ok.. UK and US regulations are similar
https://www.fincen.gov/financial_institutions/msb/materials/en/prevention_guide.html

in short.
a MSB has no reason to hold funds unless requested by a court order..

their regulatory compliance requirements is purely to keep a paper trail of customers actions. and if something looks suspect report it. but to NEVER inform the customer that they are being investigated nor stop the funds.

so if you are being told that funds are being held by a MSB due to suspicious activity. then you know that its false. as that is totally not what the compliance of MSB regulations is about..

they do not have the power... and as i said the only time they would have the power (due to court order) the customer would be informed by authorities directly.. and not by the MSB before so.

no where would an MSB freeze an account just because your moving more than $5k. instead the transaction would proceed and a record is kept..
the paper trail is kept for upto 5 years, and authorities at their leisure would investigate and deal with the issues as a separate matter.

there is no reason to hold funds without reason. infact the regulations make it illegal for an MSB to do so



its the authorities that do freezing of accounts(after the fact). after evidence enough to sway a judge to allow a court order to do so.. in no way should/could a MSB just freeze an account without proper authority.

all they can do is file a report, let the transaction continue and not tell the customer.

so if any MSB is trying to give you some bull crap reason why a transaction failed due to AML/KYC.. they are BSing you.

an legit MSB would gather your ID before even allowing you the opportunity to move funds. so if they havent gathered info. then thats their fault. and they will fail their compliance checks (if registered) at a later date. but there is no reason even without ID to stop you having your funds (unless there is a court order)

OP, have you tried starting a parallel thread on https://www.reddit.com/r/Bitcoin/ ?