Seeking advice on what to do with missing funds at Kraken

[russelluk]

Hi everyone,

Please can anyone advise on what my options are. I tried to withdraw a reasonably large quantity of GBP from Kraken on the 11 August 2017. Kraken told me it failed and the money would be credited back to my account within 1 to 2 business days. After numerous support requests the last communication from Kraken in relation to my funds was last Friday 19 August 2017 when they said that the funds would be credited back by Monday 21 August 2017. I am getting seriously concerned here because they are ignoring my support tickets and the only communication that I have received was that GBP was being de listed and you should withdraw your GBP's. But I can't because they have not credited them back.

Can anybody advise what I can do? Do Kraken monitor this at all? and if so can anyone from Kraken please help? This is a substantial amount of money for me and it is causing me a lot of stress. I have seen lots of complaints about people losing out on trades etc but surely an Exchange which is supposedly one of the top exchanges cannot operate in this fashion and must give me an update.

Thanks

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[warningsigns]

I sent a message to their support staff on their website, alerting them to the many complaints posted here and there on this forum. This is unacceptable. They have strict operational rules and they expect their customers to be compliant at all times but when they fail they give everyone the silent treatment. They have the audacity to sit on other people's funds and delay their access to those assets!

[russelluk]

Thanks for the response. I am concerned that this coincides with their decision to delist GBP pairs. They also stop communicating when they no longer have an excuse. For example they were quick to get back to me to say that their partner Bank takes 1 to 2 days to return the funds but now that this excuse doesn't work anymore there is complete silence!

[russelluk]

Dear Kraken

If you do manage to look into this the latest service request is 592114.

Up until recently I have always had a lot of regard for the trading platform so please can you assist and make this right.

Thanks

[poordeveloper]

You can use this form to escalate your support ticket: https://goo.gl/forms/2VolutBY6HBGJRRA3

[russelluk]

Thanks - I have submitted as suggested through this link - I wasn't sure which ticket to use so I used an earlier one

[xypos]

Hi everyone,

Please can anyone advise on what my options are. I tried to withdraw a reasonably large quantity of GBP from Kraken on the 11 August 2017. Kraken told me it failed and the money would be credited back to my account within 1 to 2 business days. After numerous support requests the last communication from Kraken in relation to my funds was last Friday 19 August 2017 when they said that the funds would be credited back by Monday 21 August 2017. I am getting seriously concerned here because they are ignoring my support tickets and the only communication that I have received was that GBP was being de listed and you should withdraw your GBP's. But I can't because they have not credited them back.

Can anybody advise what I can do? Do Kraken monitor this at all? and if so can anyone from Kraken please help? This is a substantial amount of money for me and it is causing me a lot of stress. I have seen lots of complaints about people losing out on trades etc but surely an Exchange which is supposedly one of the top exchanges cannot operate in this fashion and must give me an update.

Thanks

Kraken is not active on the forum, so you probably won't reach anyone from Kraken this way.

This is unacceptable by any means, especially when they have promised you that they would credit your account by the 21st, which has now been 3 days already and counting. Plus, if GBP is getting delisted as you said then this just makes it even more absurd.

This seems to be a growing trend these days, exchange support acting like as if their customers are worth nothing.

You should probably post some screenshots, so that we can verify the legitimacy of your claim.

[MAbtc]

Hi everyone,

Please can anyone advise on what my options are. I tried to withdraw a reasonably large quantity of GBP from Kraken on the 11 August 2017. Kraken told me it failed and the money would be credited back to my account within 1 to 2 business days. After numerous support requests the last communication from Kraken in relation to my funds was last Friday 19 August 2017 when they said that the funds would be credited back by Monday 21 August 2017. I am getting seriously concerned here because they are ignoring my support tickets and the only communication that I have received was that GBP was being de listed and you should withdraw your GBP's. But I can't because they have not credited them back.

Can anybody advise what I can do? Do Kraken monitor this at all? and if so can anyone from Kraken please help? This is a substantial amount of money for me and it is causing me a lot of stress. I have seen lots of complaints about people losing out on trades etc but surely an Exchange which is supposedly one of the top exchanges cannot operate in this fashion and must give me an update.

Thanks

Sounds like bank wires are being rejected. I wonder if their decisions to pull pairs (including fiat pairs) have to do with banking problems. I hope not. I've seen several recent complaints regarding fiat deposits/withdrawals at Kraken.

I'd make a post on r/bitcoinmarkets and tag the Reddit support rep (also send them a DM): https://www.reddit.com/user/krakenexchange

Kraken doesn't monitor this forum and I don't think they have a rep here. Sometimes there is a Kraken rep in the Whaleclub chat: https://twitter.com/btcWhaleclub

Please keep us updated.

[poordeveloper]

Hi everyone,

Please can anyone advise on what my options are. I tried to withdraw a reasonably large quantity of GBP from Kraken on the 11 August 2017. Kraken told me it failed and the money would be credited back to my account within 1 to 2 business days. After numerous support requests the last communication from Kraken in relation to my funds was last Friday 19 August 2017 when they said that the funds would be credited back by Monday 21 August 2017. I am getting seriously concerned here because they are ignoring my support tickets and the only communication that I have received was that GBP was being de listed and you should withdraw your GBP's. But I can't because they have not credited them back.

Can anybody advise what I can do? Do Kraken monitor this at all? and if so can anyone from Kraken please help? This is a substantial amount of money for me and it is causing me a lot of stress. I have seen lots of complaints about people losing out on trades etc but surely an Exchange which is supposedly one of the top exchanges cannot operate in this fashion and must give me an update.

Thanks

Sounds like bank wires are being rejected. I wonder if their decisions to pull pairs (including fiat pairs) have to do with banking problems. I hope not. I've seen several recent complaints regarding fiat deposits/withdrawals at Kraken.

I'd make a post on r/bitcoinmarkets and tag the Reddit support rep (also send them a DM): https://www.reddit.com/user/krakenexchange

Kraken doesn't monitor this forum and I don't think they have a rep here. Sometimes there is a Kraken rep in the Whaleclub chat: https://twitter.com/btcWhaleclub

Please keep us updated.

As far as I know this user works at Kraken:
https://bitcointalk.org/index.php?action=profile;u=32856

[Kyraishi]

Hi everyone,

Please can anyone advise on what my options are. I tried to withdraw a reasonably large quantity of GBP from Kraken on the 11 August 2017. Kraken told me it failed and the money would be credited back to my account within 1 to 2 business days. After numerous support requests the last communication from Kraken in relation to my funds was last Friday 19 August 2017 when they said that the funds would be credited back by Monday 21 August 2017. I am getting seriously concerned here because they are ignoring my support tickets and the only communication that I have received was that GBP was being de listed and you should withdraw your GBP's. But I can't because they have not credited them back.

Can anybody advise what I can do? Do Kraken monitor this at all? and if so can anyone from Kraken please help? This is a substantial amount of money for me and it is causing me a lot of stress. I have seen lots of complaints about people losing out on trades etc but surely an Exchange which is supposedly one of the top exchanges cannot operate in this fashion and must give me an update.

Thanks

Sounds like bank wires are being rejected. I wonder if their decisions to pull pairs (including fiat pairs) have to do with banking problems. I hope not. I've seen several recent complaints regarding fiat deposits/withdrawals at Kraken.

I'd make a post on r/bitcoinmarkets and tag the Reddit support rep (also send them a DM): https://www.reddit.com/user/krakenexchange

Kraken doesn't monitor this forum and I don't think they have a rep here. Sometimes there is a Kraken rep in the Whaleclub chat: https://twitter.com/btcWhaleclub

Please keep us updated.

As far as I know this user works at Kraken:
https://bitcointalk.org/index.php?action=profile;u=32856

Seems like it. Also this guy:https://bitcointalk.org/index.php?action=profile;u=35541, although he is not online for like a whol year now so it isn't really helpful for anyone to message him as it'll probably just get ignored, even if he does come online.

OP, i suggest you just keep trying to reach out to them via support. The more times you do it, the more chances you have to get your money back as quickly as possible.

I really wouldn't worry too much especially if you know that you've got all the KYC docs ready and your funds are 100% clean. That way if they ignore you for too long you can threaten to take legal action, which you will 100% win the case on, but most likely they'll resolve your issue before that.

Just as i said, keep emailing support or whatnot until they give you a proper response and actually follow through on their promises. Let us know any updates.

[carlfebz2]

Hi everyone,

Please can anyone advise on what my options are. I tried to withdraw a reasonably large quantity of GBP from Kraken on the 11 August 2017. Kraken told me it failed and the money would be credited back to my account within 1 to 2 business days. After numerous support requests the last communication from Kraken in relation to my funds was last Friday 19 August 2017 when they said that the funds would be credited back by Monday 21 August 2017. I am getting seriously concerned here because they are ignoring my support tickets and the only communication that I have received was that GBP was being de listed and you should withdraw your GBP's. But I can't because they have not credited them back.

Can anybody advise what I can do? Do Kraken monitor this at all? and if so can anyone from Kraken please help? This is a substantial amount of money for me and it is causing me a lot of stress. I have seen lots of complaints about people losing out on trades etc but surely an Exchange which is supposedly one of the top exchanges cannot operate in this fashion and must give me an update.

Thanks

Sounds like bank wires are being rejected. I wonder if their decisions to pull pairs (including fiat pairs) have to do with banking problems. I hope not. I've seen several recent complaints regarding fiat deposits/withdrawals at Kraken.

I'd make a post on r/bitcoinmarkets and tag the Reddit support rep (also send them a DM): https://www.reddit.com/user/krakenexchange

Kraken doesn't monitor this forum and I don't think they have a rep here. Sometimes there is a Kraken rep in the Whaleclub chat: https://twitter.com/btcWhaleclub

Please keep us updated.

As far as I know this user works at Kraken:
https://bitcointalk.org/index.php?action=profile;u=32856

Seems like it. Also this guy:https://bitcointalk.org/index.php?action=profile;u=35541, although he is not online for like a whol year now so it isn't really helpful for anyone to message him as it'll probably just get ignored, even if he does come online.

OP, i suggest you just keep trying to reach out to them via support. The more times you do it, the more chances you have to get your money back as quickly as possible.

I really wouldn't worry too much especially if you know that you've got all the KYC docs ready and your funds are 100% clean. That way if they ignore you for too long you can threaten to take legal action, which you will 100% win the case on, but most likely they'll resolve your issue before that.

Just as i said, keep emailing support or whatnot until they give you a proper response and actually follow through on their promises. Let us know any updates.

This is the only way on which OP can do as of now on which keeping on sending support tickets to them if possible burst them up so that they would able to read your concern or issues. Its not surprising anymore not only kraken have this kind of problem but most exchanges and other services. Support responses takes too long to be responded is one of the issues as of now.Dudes above already given the possible connections to them,just try them out to reach them.

[russelluk]

Many thanks once again for the support from the members of this forum which has really assisted in finding a resolution to my situation. I just want to update everyone that Kraken has re credited my GBP account with the funds. I hope the situation is now resolved although Kraken are stating that the SWIFT code that I tried to use to send the funds to my Bank account is invalid which is contrary to what my Bank states. I guess the way to test this now is to try and withdraw to another Bank and see how I go. I really hope the same saga does not re surface. However with GBP pairs being suspended I have no other option to withdraw my funds. I never intended for this to be an attack on Kraken and I just hope that Kraken and other exchanges can make some genuine attempts to improve customer support and avoid stressful situations like this. However I do thank Kraken for responding to my concerns.

[poordeveloper]

Indeed, and I will say it time after time: customers should be able to get the best possible support using official support channels, like email and tickets rather than having to chase employees on social networks or use unofficial contact methods. It is more efficient for both them and clients to actually solve problems through tickets.

[MAbtc]

Many thanks once again for the support from the members of this forum which has really assisted in finding a resolution to my situation. I just want to update everyone that Kraken has re credited my GBP account with the funds. I hope the situation is now resolved although Kraken are stating that the SWIFT code that I tried to use to send the funds to my Bank account is invalid which is contrary to what my Bank states. I guess the way to test this now is to try and withdraw to another Bank and see how I go. I really hope the same saga does not re surface. However with GBP pairs being suspended I have no other option to withdraw my funds. I never intended for this to be an attack on Kraken and I just hope that Kraken and other exchanges can make some genuine attempts to improve customer support and avoid stressful situations like this. However I do thank Kraken for responding to my concerns.

I'm glad that you've at least got the funds credited back to your account. Sadly, the best way to deal with exchanges is to put pressure on them with social media presence. That's not to say that Kraken is necessarily dishonorable, just that they (like most exchanges) are very concerned about public perception, and it can help to expedite things.

It's pretty annoying the way they abruptly suspended the markets. Personally, I'd much prefer to get out via BTC given the recent problems you've experienced. Let us know if you have problems withdrawing to the second bank account.

[Dargo]

As mentioned above, I work for Kraken and manage our thread here

https://bitcointalk.org/index.php?topic=290799.0

^ That is the best place to post any issues you are having with Kraken since I may not notice things posted elsewhere. Right now I'm the only Kraken rep here on bitcointalk and I don't have enough time to do a good job of it lately, so we're going to bring in more people to help out soon.

As OP has stated, the funds have been credited back to the account. We told OP on Friday the 18th that in this type of situation funds usually get credited in 1-2 business days and probably should have clarified that "usually" means it could take a bit longer, which it did in this case. But OP responded in the ticket on Monday the 21st asking for an update and didn't get one, so I apologize that we didn't provide a prompt response at that time.

[russelluk]

Many thanks once again for the support from the members of this forum which has really assisted in finding a resolution to my situation. I just want to update everyone that Kraken has re credited my GBP account with the funds. I hope the situation is now resolved although Kraken are stating that the SWIFT code that I tried to use to send the funds to my Bank account is invalid which is contrary to what my Bank states. I guess the way to test this now is to try and withdraw to another Bank and see how I go. I really hope the same saga does not re surface. However with GBP pairs being suspended I have no other option to withdraw my funds. I never intended for this to be an attack on Kraken and I just hope that Kraken and other exchanges can make some genuine attempts to improve customer support and avoid stressful situations like this. However I do thank Kraken for responding to my concerns.

I'm glad that you've at least got the funds credited back to your account. Sadly, the best way to deal with exchanges is to put pressure on them with social media presence. That's not to say that Kraken is necessarily dishonorable, just that they (like most exchanges) are very concerned about public perception, and it can help to expedite things.

It's pretty annoying the way they abruptly suspended the markets. Personally, I'd much prefer to get out via BTC given the recent problems you've experienced. Let us know if you have problems withdrawing to the second bank account.

Thanks - I will advise once I have done this. Do you or anyone know however if Kraken can convert my GBP's to USD or are they not allowed to do this? As you say the easiest way for me to withdraw would be through BTC but there is no GBP/BTC trading anymore. I will check with the Kraken team but I need to be sure that the SWIFT code issue can get sorted out before I attempt to withdraw again.