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/ ? 

So they can't find your money incoming transaction. Why not show them? It wouldn't be that hard i think? You just find it on the blockchain?

Perhaps some screenshot of contact with them?

My experience with kraken (were it small or large withdrawals or questions) it was always good. Better then coinbaise to be honest.

Rather similar story here,

Summary of my account activity : Deposit some BTC in 2015, shorted ETH a bit, That's it !

Now my account can't do BTC or ETH withdrawal. They say the investigation will last a few weeks. What is there to investigate for so long ?

either you've made a technical error, or you haven't read through the process properly and are misunderstanding something.

i have no affiliation to Kraken, but if this is resolved satisfactorily i think you will have a moral obligation to come back here and explain what really happened. trashing the reputation of an exchange that is quite well thought of is a bit off imho.

I'm not so sure about this situation, but I do know for a straight fact that their customer service is absolute horse shit. I was involved with Jesse in some of his side projects (ogrr) way before kraken went big and he offered several people positions on his support team for a rather decent wage. I got my wife and several of my friends involved as I had a good day job and they were in need. My wife and several of my friends would never receive pay checks even though they were several months over due. Eventually everyone got paid, but they all ended up quitting because they couldn't ever get in touch with someone when they needed it...

Ultimately they need to restructure their support crew, or outsource it to someone who knows what they're doing.

It's Kraken's experience that counts - they've been operating for some time and will have developed profiles of the countries they are dealing with, and will have built that into their risk algos. Judging by what they've said elsewhere, they also run all transactions against blacklists issued to them by various govt fraud agencies, to ensure they arn't dealing with people they shouldn't be.

my experience is that German banks are stricter in enforcing regulations than banks in other EU countries.

It could be several things. Are you based in Germany? If so, they run extra checks because German banks have a reputation of being lax and letting fraud happen.

Here is a thread from 2014 illustrating the German problem:

https://www.reddit.com/r/Bitcoin/comments/29qn6h/kraken_account_frozen_funds_in_hostage/

The other issue might be with the amount you have withdrawn. I expect that lower amounts go through automatically but higher amounts need to be signed off. Again this is standard practice.

i remember Kraken took over Coinsetter earlier this year and support went a bit flaky after that while they worked on integrating Coinsetter's customer accounts.

i would be very surprised if the OP's accusation proves to be true. stealing $10,000? i very much doubt it.

this thread feels more like cynical FUD designed to damage the reputation of the exchange. OP has 8 posts, all in this thread. i would be questioning his reputation before that of Kraken.

'toys' and 'pram' come to mind.

agreed dont waste the $2k on flights as it seems their addresses are drop boxes.
as for the police.. when it comes to financial 'crimes' they see it as civil rather than criminal and they would normally advise getting a lawyer.

i would suggest the SEC as they are operating a business in the US.
i would suggest the better business bureau because they are operating a business in the US..

.. by the way are you from the US or are you from the EU. because from what i remember kraken was more of an EU business at first

don't spend 2K on tickets because you will find nobody at "office"  wait until Tuesday. I recommend you to contact them(politely) on Facebook and Tweeter as well. if still no answer, make a complaint with your local police and they will further contact FBI or find a lawyer in San Francisco. it will cost you up to 1000 usd and he will "take care" of them (in a good or bad way). anyway, you will receive your money.

next time, use a licensed exchanger(Circle is financial licensed in European Union).

shocked?!?! this is what I am saying for years.  Almost all the exchangers are the same. They don't have a real office. They work from home. It's not something bad but when you are talking about millions like these hipsters are doing, then you can afford a rent for a real office and 1-2 people as customer support, right?

Kraken is not a MSB. It's an outlaw company.

Kraken and ALL the other exchangers MUST be financial licensed otherwise they have no responsibility toward the clients

Try to call Itbit, Circle or Coinbase. You will get answer for sure. Why? Because they are licensed as money transmission businesses and this bring a lot of responsibility from their side.

seems like another drop box address.

like i said in my first post kraken although being alive for many years, people should not be consider them as a fully established enterprise.. as it definitely doesnt appear to have call centres and what not established banks do..

im not really for the whole freezing accounts due to AMl/KYC regs.. but for consumer protection reasons these "money transmission businesses" should have atleast fixed office with proper staff to qualify to be a MSB.. so i am shocked to see all the drama of the last few years about requiring licences to be a MB under the pretense of consumer protection.. yet these MSB's dont seem to have much in the way of consumer protection focus

especially if they are in multi million dollar investment rounds.. im totally shocked they have most of their details forwarded to drop boxes/residential addresses..

Here's a little more info for you. That phone number resolves to a private residence in a small San Mateo county town called Menlo Park. Menlo Park is a pretty little community. Not many businesses but it has a large residential area with big trees and shitloads of old people. I wouldn't mind living there if it wasn't so far from the action.

http://www.buzzfile.com/business/Kraken-916-267-4413

http://www.vcnewsdaily.com/Kraken/venture-funding.php
another phone number(s)

i understand your situation.. but is that "nearly 6" .. normal days? meaning its only probably only nearly 4 business days.

as for banks saying 1-2 BUSINESS DAYS for sepa to transmit. that does not include any issues or admin delays. so many businesses say X+2 business days to be sure..

even some businesses doing salary/wage payment start administering and organising payments a week before the employee eventually receives it. so try not to think that 2 days should be a maximum.. but a expected safe minimum once authorised

im not trying to denouce your issue in anyway. im just trying to help you re-assess your expectactions to reality..

EG
if you made the request last friday night.. it probably would not even have gotton looked at until monday morning. so tuesday morning is 1 day, wednesday 2, thursday 3, and friday makes 4..

so you probably are not going to get anything until next monday/tuesday. but seeing as its mid afternoon in sanfransisco. its still worth calling them right now and get some concrete answers.

P.S i live in the UK and tried finding details of their UK office. but it seems to be a crappy 'drop box' address, and not a real office.
if i get any other contact details ill post them. but keep trying that number or message them ur support ticket number on their social media as that usually prompts a response because businesses hate bad publicity on social media

Oh, I see your mistake. You sent a bunch of money to an online business with a pretty website with lots of pictures of trendy, cool looking people.

They're based in San Francisco where I live. Based on the cool looking 30 somethings I personally know here, I'd say they run their business on a laptop hooked to free coffee shop wifi from a park bench located somewhere in the panhandle section of Golden Gate Park.

I could be wrong though. They might be running their business around the corner hooked to the free wifi at St Mary's hospital. ROFL

Edit: Have you tried looking for them at the San Francisco public library where Ross Ulbrich ran his multimillion dollar drug consignment store. LOL

you are talking bullshit, i did plenty of sepa with them, dozen and dozen of sepa never had any problem, each sepa has required only 8 hours to have the money on my bank acccount

something clearly is fishy on your side

NOW YOU UNDERSTAND - YESTERDAY! THESE SCAMMERS STOLE MY MONEY!!!!!111111111

As if you can trust those. LMAO.

though kraken is a "proven tested" business, meaning it has been running for a while and lots of people have used it.. it should in no way ever be considered to be treated on the same standards as established banks.

its a business. not a established bank. so do not expect teams of call centre staff answering within an hour
its a business. not a established bank. so do not expect them to have fixed timescales of actions
its a business. not a established bank. so do not expect them to be on the same scale as banking infrustructure

with all that said,

if in doubt.. about your account call them and get hold of someone with some decision making powers. not just a customer service rep
http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=260965170
(telephone number listed)

also post on their social media:
"please look into support ticket xxxxx, as the delay could lead to some bad press"

remember to swap out xxxxx with your actual support ticket number
- Facebook (http://www.facebook.com/krakenfx)
- Twitter (http://www.twitter.com/krakenfx)

but id try calling their phone first and getting hold of someone that is not just a customer service rep

Oh no that is lot of moneyloss. Hope u get it back (technical problems), etc... 

The first email seems from yesterday

Start by showing screenshots of emails you had with them . (If it's your personal email then you can hide it)

Why you protect them so much ? maybe they does?

kraken is a well respected company that wont steal 10k. that is what i believe

you could upload the emails which you sent to kraken from your kraken-account. just black personal infos.

Newbie account with no proof at all. legit.

kindly delete this thread.