Oanda refuses withdrawal

Discussion in 'Forex Brokers' started by fmmwabrd, Oct 10, 2019.

  1. DevBru

    DevBru

    Very weird story.

    The bank doesn't matter, all that matters is that the account is in your name(the same name as the trading account holder).
     
    #21     Oct 11, 2019
  2. IAlwaysWin

    IAlwaysWin

    If the company is located in the USA then yes, the name on the bank statement matters. It's a anti money laundering law here. That money can only be withdrew to that same account unless that account was closed. If that's the case, all you would need to do is show a statement with address/name proof, done. Been through this a few times.
     
    #22     Oct 11, 2019
  3. fmmwabrd

    fmmwabrd

    I am not smearing anybody.

    This is one of the replies I got from them:
    "
    Dear Jakab Tanko,

    Thank you for contacting OANDA.

    Thank you for your ongoing patience whilst we look into resolving this matter.

    I understand that you would like to raise a complaint concerning your withdrawal request. I have investigated your concerns and my findings on this matter are explained below:

    Please note that whilst we understand that it can be frustrating dealing with your former Bank ( DEUTSCHE POSTBANK AG) and get them to provide you with information that confirms the closure of your account with them, Please note that we must insist that we get this evidence as we are obliged by Anti Money Laundering requirements that are in place to protect clients and their money.

    I trust that my explanation has resolved this matter.

    However, should you disagree with my findings please contact our Compliance Team at disputes@oanda.com who will carry out an impartial, independent review of your complaint and provide a full written response as per our Complaints Policy (https://www.oanda.com/resources/legal/europe/legal/complaints-policy).

    Our client experience team is here to help 24 hours a day from Sunday at 1 p.m. EST to Friday at 6 p.m. EST. If you have any questions, please do not hesitate tocontact us.


    Build your Forex trading knowledge

    It is my pleasure to assist you,

    Client Experience Team
    "
    Cheers
     
    #23     Oct 11, 2019
  4. fmmwabrd

    fmmwabrd

    Just one more note: The new account I am trying to withdraw to
    is approved for both deposits and withdrawals by Oanda
     
    #24     Oct 11, 2019
  5. DevBru

    DevBru

    That is exactly what i said, the bank doesn't matter, only the name of the person holding the account at the bank and the trading account.
     
    #25     Oct 11, 2019
    IAlwaysWin likes this.
  6. IAlwaysWin

    IAlwaysWin

    I would do this.

    However, should you disagree with my findings please contact our Compliance Team at disputes@oanda.com who will carry out an impartial, independent review of your complaint and provide a full written response as per our Complaints Policy (https://www.oanda.com/resources/legal/europe/legal/complaints-policy).
    I would also call your bank and ask to speak to a branch manager about getting that statement. Or use an old statement, it doesn't have to be new. I think if it's within 60/90 days it's still valid.
     
    #26     Oct 11, 2019
  7. luisHK

    luisHK

    Duh... some leave much more on the table if they think it is not worth the hassle
     
    #27     Oct 11, 2019
  8. faet

    faet

    So don't post misleading opening salvos to bolster your argument. Like any other established financial institution it's clear by this letter that they are trying to work with you to resolve the problem. They have explained what you need to do.

    So do it.
     
    #28     Oct 11, 2019
    Overnight likes this.
  9. DevBru

    DevBru

    Is the new aacount you are trying to withdraw to in the same name as the old one and the same name as your trading account?
     
    #29     Oct 11, 2019
  10. fmmwabrd

    fmmwabrd

    Yes, same name, same address on all accounts
     
    #30     Oct 11, 2019