LB
Lelane B

1 reviews | Active since Jan 2012

19 Jul 2025, 08:20

LUNO locking account and freezing funds

Luno locked my account on Monday 21 July 2025 with no reason. In the notification app on the Luno app the wrote me a long email and asked me to provide bank statement from 25 June 25 to 14 July 25. Isend the statements 2 hours after their request and got no feedback. Tuesday I followed up and got an automated response they apologise for the delay and appreciates my patience but they would like to phone me. They gave me times and asked me to respond with the best suitable time. I responded and again no feedback. I send several follow ups and had says delayed before 3 different people gave me the exact same response again asking to phone me. I wrote a complaint and finally Thursday received a call from a lady Anelisa. She explained the purpose of call asked me questions and I provided all information and was transparent about what I used the platform for. She said all is good with the account theyvare doing security checks as there are ****mers out there. Before she could continue call was cut and she did not phone back. I received email where she said thank you for time and I should follow the requests in the email and respond and my account will be reopened. I did that and received another email that is was escalated to the specialised team. Friday morning account is still closed and I get notification again about my patience and it is with specialised team. I send 4 follow ups including emails to Anelisa no response. My money is stuck in the Luno account. I want this account reopened and my money withdrawn. I am opening a complaint at the FSP board where Luno is registered and will ask them to investigate them for malpractice. I would not suggest Luno to anyone. Rather use a different platform.

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Replies (3)
LB
Lelane B's update19 Jul 2025, 13:35
Reviewer Update
The issue I have here is you called me and told me there is nothing wrong on my account but i need to download bit more security than you will unlock it. However you don’t that. There is no way to communicate to Luno and you just do what you want! I could have traded on a different platform and earn some income instead my money is stuck in Luno and you locked it, but have no reason as to why. And it is taking you niw almost 7 days to sort out a query you created. That is horrible service
LB
Lelane B's update19 Jul 2025, 15:50
Reviewer Update
Hi everyone,

Again look at the nonsense reply on the Luno app. This is after numerous follow ups. Getting response today in Hello Peter I get yet ANOTHER bot message in the app and no resolution and a longer waiting period:
Hi Lelane,

Thank you for getting in touch.

Please note that we’ve escalated your query for further review. It may take 24 to 72 hoursfor the team to investigate and respond accordingly.

We understand how important this is and appreciate your patience while we work to resolve the matter.

Thank you for your understanding!

This is PATHETIC to say the least
LB
Lelane B's update21 Jul 2025, 19:54
Reviewer Update
After responding on Hello Peter and responding to the automated message received on the Luno platform I received yet another automated response from Luno! See the below **** they are giving me:
Hi there Lelane,

We hope this email finds you well.

I am so sorry for the delay in resolving your query - we're currently experiencing a higher than usual number of queries which is impacting our response time.

I understand how frustrating this might be , but please rest assured that we have not forgotten about you and we sincerely apologise for the inconvenience this may have caused.

As soon as there is feedback on our end , we will definitely reach out to you.

Have a good evening!

This is a a company registered wit an FSP number. I think it is time to escalate the matter tontge ombudsman for financial services and lay a complaint with the FSCA
This is unacceptable!