Formal Complaint Regarding Luno – Reversal and Failure to Provide Proof

I am formally raising a complaint against Luno regarding the handling of a transaction that Luno claims was reversed.

I am extremely disappointed with the manner in which this matter has been handled.

Luno did not properly inform me that the funds were being reversed, nor did they provide me with a clear explanation as to why the reversal was taking place.

When I requested proof of the reversal so that I could take the matter up with my bank, Luno provided me with a tracking/reference number. However, a tracking number on its own does not prove that the funds were actually transferred back to my bank account. I requested proper documentary evidence, such as a proof of payment, transaction confirmation, or bank confirmation showing that the funds were actually returned.

Because Luno has failed to provide this documentation, I have had to approach my bank and request historical statements to establish that the money was not received in my account. This has caused unnecessary delays, frustration and additional work for me.

What is even more concerning is that Luno has kept me waiting for my funds while failing to provide the proper paperwork required to trace the alleged reversal.

At the time, I was also using my Luno account for business-related transactions. Luno did not inform me at the outset that using the account in this manner was not permitted. If I had been informed earlier, I could have taken the necessary steps to avoid this situation.

The consequences have been extremely serious. The handling of this matter has contributed to me being placed in a position where I had to close my business, resulting in significant financial difficulties and disruption.

I have fully cooperated with Luno and provided the information and bank statements they requested. I now expect Luno to provide the same level of cooperation by producing proper proof that the funds were actually reversed and identifying where they were sent.

I am calling on Luno to:

- Provide proper proof of payment for the alleged reversal. - Provide the complete transaction/audit trail for the reversal. - Explain exactly when and how the reversal was processed. - Explain why I was not informed before the reversal took place. - Explain why only a tracking number was provided instead of proper proof of payment. - Confirm where the funds were sent. - Explain why I was not informed that my account could not be used for business transactions. - Provide a clear resolution regarding the outstanding funds.

This is a serious matter, and I believe I am entitled to proper documentation and transparency regarding what happened to my funds.

Luno must take responsibility for properly tracing these funds and providing documentary evidence of the alleged reversal.

I am requesting that this complaint be escalated and that Luno provide a substantive response rather than simply issuing another reference or tracking number.

I sincerely hope HelloPeter can assist in bringing attention to this matter and encourage Luno to provide a proper response and resolution.