Topic: Kraken response time is disgraceful and reprehensible (Read 629 times)

Four days? That's still within the comfort zone. I once needed to have my linked email address replaced with a new one. It took 2 months from request to job done. So many in-between steps. Sent ID... waited more than a week. Then they responded asking me to confirm transactions I did... waited more than a week again before I heard back from them. Then someone else from their support staff responded asking me to explain the problem... waited days again. Then the issue was escalated to security and compliance for approval. The entire process was a major test of patience.

They will eventually resolve and lift your account restrictions but you will need to be extremely patient with them.


 

I just sent this email to them, I am also going to make a video and hopefully it will go viral.

My name is *******, my account user name is ********. I am respectfully requesting that the hold on my funds/account be lifted. I have previously requested a review of my account which I never got a reply .However because I feel that holding my funds is unfair, and perhaps a punitive abuse of power, I will be filing complaints with the following agencies on Monday morning, January 8th, 2018 if I am not satisfied with Kraken’s response to this request to release my funds:
(agencies in the states that I reside or have a business presence in)
Consumer Complaint Form to file a complaint about a financial product or service
http://www.dfs.ny.gov/consumer/fileacomplaint.htm
Where is your Bitlicense?
http://www.dfs.ny.gov/banking/virtualcurrency.htm
The Financial Crimes Enforcement Network
https://www.fincen.gov/
The California Office of the Attorney General
http://ag.ca.gov/contact/complaint_form.php?cmplt=CL
The Washington State Office of the Attorney General
https://fortress.wa.gov/atg/formhandler/ago/ComplaintForm.aspx
The Florida Office of the Attorney General
http://myfloridalegal.com/contact.nsf/contact
The Arizona Office of the Attorney General
http://myfloridalegal.com/contact.nsf/contact
Additionally:
The United States Federal Reserve
http://www.federalreserveconsumerhelp.gov/complaintinfo.cfm?info=1
(I understand that Kraken does not operate as a “bank” which is precisely why they may be interested in such complaints)
The Better Business Bureau:
https://odr.bbb.org/odrweb/public/complaintlink.aspx
All complaints will be filed “online” Monday morning January 8th, 2018 and written copies will also be sent via certified postal mail.
I understand Kraken’s need for holding funds for verifications purposes, however a review of my account history and all the information I have submitted should be enough to satisfy your requirements . I feel that any reasonable person would conclude that holding my entire balance is excessive and my be viewed by some as punitive or as already stated, an unnecessary abuse of power and perhaps even contrary to the laws of some states.
Please be aware that replying with the standard “this is part of the terms of service that you agreed to” will not satisfy my request, or deter me from filing my complaints with the agencies listed above on the morning of Monday January 8th, 2018. It will be up to those agencies to determine if Kraken’s is operating within the law, abusing power, etc. I am simply seeking a resolution that is fair and in the best interest of both parties.
Thank you for your time again in looking into this matter.

"Dargo" is the kraken support writing in that thread:
https://bitcointalksearch.org/topic/ann-krakencom-exchange-with-usd-eur-gbp-jpy-cad-btc-ltc-xrp-nmc-xdg-str-eth-290799

Post your ticket number in the thread

I already have an account with polo, bittrex, coinbase and bitsamp. I'll take your advise and focus my action with them.
Cheers

The person who's made all the Kraken threads that I've seen is here, but he hasn't been active in a long time.

No exchange is 100% reliable and safe when the price goes up very quickly - Coinbase has had similar issues/complaints recently.

If I were you I'd move to Bitstamp.  As Bitcoin exchanges go, they're pretty reliable.

Is there any official Kraken employee in this forum?
Why are they taking so long to respond to emails from their paying clients?
Why are they freezing my funds without making any contact to explain the reasons?

I've been on Kraken's T2 for nearly 2 months, trading within the Tier's limits.
I've made 6 deposits with no issues, however, the 7th deposit has been put on hold for no apparent reason.
Although I did not exceed T2's limits, I immediately applied for T3 verification.
I also sent them 2 emails (through their online "support" system).

As of now, it has been more than 4 days since the money has been put on hold in my Kraken account.
No one has replied my messages to their "support" centre.

I'm not saying they are after my money, but when they are effectively denying access to my own funds, without any reason and on top of that fail to make contact/reply for almost a week since - it is beyond frustrating.

Not to mention that yesterday was a perfect day to buy. And due to Kraken's pi$$ poor service, I missed a really nice opportunity.

From your experience, how should I adjust my expectations?
How long until they reply?
How long until they release my funds?

I understand that the number of transactions has spiked recently, but for an exchange that's practically printing money 24/7 with ease, they should at least increase their manpower to deal with the high volume of traders.

As soon as I'm done with my recent deposit, I'm done with Kraken forever.