GP
Glenn P

1 reviews | Active since Jun 2012

19 Dec 2023, 00:02

Luno daily transfer limits

Very frustrated. Am trying to transfer my Luno out of my wallet to a cold storage wallet. Luno have limited my daily transfer to around R18k a day, and probably around R95k a month. When I queried this, they say it is to protect the client, and is in line with anti-laundering. I’m in good standing with SARS, have always declared my profits. My wife who has done the identical trading as me, is able to transfer R2 mill per day (not that she has anything like that in her wallet), so why am I being limited so badly? The excuse they give is that it is “dynamic”.

When I query this, I keep getting copy and pasted replies which doesn’t answer the question. Luno, I have posted my terrible experience on a Whatsapp group with many heavyweight crypto traders on there so that your unfair way you deal with clients is known. Many say they will get all their funds out based on my experience. Rather use VALR who treat their clients better.

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