DLS Dubai - Company Formation & Bank Account
Aston & Williams Offshore Company, Trust and Bank
Gift Card Payment gateway
Turner Little - Company Formation Agents

Bunq blocked account

CALL US ON +971 50 4467827 - TO SETUP YOUR NON-CRS COMPANY STRUCTURE IN DUBAI.

Logann

New member
I was trying to deposit money to Binance from my TW account through Bunq. I have sent 10 and 1000 eur through Bunq to my Binance account. They were instant payments with no issues. Later I have sent 5000 eur to Bunq and was trying to deposit to Binance. After few hours my account was blocked and payment cancelled. Also I have received a refund to my original payment method TW with the description "Refund because of closed bunq account". But the issue is that refund amount is 5 eur. Is this some kind of a slap in the face?
I have contacted customer support and many times asked directly about 5 eur refund. What was the purpose of this refund and all the time I am getting generic reply I have posted below. Do these guys ever refund customers money? Should I expect any refund in the future?

Thanks for reaching back to us!

As a bank we are legally required to protect our users and the integrity of the banking system. Therefore, we continuously monitor our users’ transaction activity as required by law to prevent any misuse of accounts.

As a result of our review of your transaction activity, our Compliance team concluded that the payment behaviour on your account was not in line with the expected use of our services and our Terms and Conditions. We have to inform you that we are no longer able to offer our services and we have to close your bunq account in line with Chapter 50 (Chapter 48 for Business) of our Terms and Conditions: Terms and Conditions

We may hold your funds after the closure of your account to cover any debts to us, payments that you approved before your account was closed or legitimate claims and rights of third parties.

Your understanding would be much appreciated!
 

MrYellow

New member
Your issue is not to buy bitcoins from bunQ twitch your credit card, this you can buy 100.000€ in one day without a problem.
You the the standard money laundry way : send money from TW to bunQ then use this money to swap over to bitcoins. This will fail on almost every EMI it’s not bunQ related. Try this on revolut and you are even faster out as you can imagine. It’s your method and way of doing it which is wrong. So your method will fail on almost every EMI.
 

Logann

New member
Got a reply finally so hopefully will get my funds back within months. In my opinion Bunq should have asked for the proof that funds are coming from the legal source. Instead of blaming for the violation of Terms and Conditions.

An investigation was open and the responsible department will decide if they will send the remaining funds back to the sender or to another IBAN but they can take months to decide it. In the meantime, the funds will remain in the account.
 

Logann

New member
Also by the way straight after signing up I have filled questionnaire that by account will be funded by another account I own and payments will be made into crypto investments.
 

Fred

Dubai Expat
Mentor Group Gold
Commercial Service
Regarding the refund I'm sure this was a mistake from Bunq.

Regarding the account closure it's because you deposited from an EMI. EMI's and fintech banks doesn't like it when the money is send by other EMI. .

Just make sure you send next time from real bank to an EMI or some kind of online bank like Bunq.
 
Fast Offshore - Company Formations Since 1998
DLS Dubai Company Formation and banking solution

Latest Threads

DLS Dubai Company Formation and banking solution
Top