I deposited money to CEX.IO last Monday. I made a same day wire transfer, however it took until Friday before the funds were available. (Other exchanges have made the funds available the same day)
I then decided to withdraw the funds immediately since the market was so thin, and would require buying at much higher prices than available elsewhere. I advised CEX.IO immediately that I had decided not to trade, and that I wished to have my funds returned. However, their compliance team replied that I had to fill in various AML/KYC forms that had previously been sent to me, in order for them to allow me to make further deposits (!) and marked my request as 'solved' (!)
I replied immediately that I was not asking to make further deposits, as I had decided not to trade, and was simply requesting that they refund my funds to the bank account that I sent it from, which should not require any AML/KYC, the laws of which I am very familiar having worked in the financial industry myself.
I subsequently received an acknowledgement that my withdrawal request "has been processed", and we'll see how it progresses.
I sincerely hope CEX.IO will in fact refund the money, although it is very disheartening to hear the problems experienced by others, posted here and in other forums.
I'm glad to report that I did get my money back from, but lost about £70 in wire/fees etc and about 10 days in the process - which is a long time in crypto-investing world - especially now. It's a big shame they have such high margins (compared to many other exchanges), very demanding compliance requirements, and slow deposit/withdrawal times etc. Otherwise they could be a top-class Exchange - I truly hope they evolve into that. Just a word of advice to anyone else using them, or having issues, that you WILL get your money back, but it may take longer than hoped, and will require patience... and if you're considering a GBP deposit, perhaps reconsider and make a USD or EUR deposit instead until their GBP market fattens up!
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