Kraken suspended my account and refunded the money

[sarakuka]

I can see that!

That's why kraken last email said if we do it from our home based internet connection and do a video call conference they will allow us to deposit, trade, withdraw crypto again.

Most of the cases such a company won't tolerate if you mask your IP using a VPN or even through using RDP. It's always to be the case everywhere even if you log in to PayPal using VPN your account will be frozen. It's always advisable to not use any means of masking your IP and instead use your real IP and if there's something that you need to explain you can explain through their customer service for approval.  Even worse if you are using a Windows VPS provided by some cloud computing company, they will straight out ban and suspend you.

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[sarakuka]

I will give it a try COINBASE first thing tomorrow since it's really late in my timezone.

But I did use VPS to buy from PAYBIS with credit card small amount and I had no problems. They also offer Sepa bank transfe!

I did use my vpn on my phone which I do have the kraken api installed and trade coins I never had problem with IT?

I did first verify the kraken account then did do a small sepa deposit with my local IP address of my billing bank statement.

After some months I had to travel and used VPN on my phone and notebook to do trade and withdraw via browser I had no problems.

If you all agree with me one more time if I go coinbase use my VPN as my country.

I will go verify my account first?

Maybe FIRST I should tell them about my situation and that I'm using VPN after I open the account I will open a support ticket pre-telling them my story?

Thanks

Luno, Kriptomat, coinbase, switchere

Of that selection I'm only familiar with Coinbase. I've genuinely never heard of any of the others.

With Coinbase all I had to do to verify was photo ID and proof of address. Nothing else. They gave me a stupidly high limit but I can't remember what it was. Use a phone to photograph and upload through their app. The website didn't work for me. Coinbase Pro will have lower fees but requires separate registration but the same docs when I checked.

Id and address is all I required for Kraken level 3 as well but it was many years ago. Maybe it's changed.

[nicolas1979]

We have the same answer, contact support again and find the best solution you can get. If there's no solution you can create new account but of course using another data. Sometimes exchanges give non sense reason but they will do anything to protect their system. Last way is you can register into another exchanges in this case I prefer local exchange near you.

[MURONDI]

at least your money is returned, very rarely does the exchange suspend a user's account and then return the money, salute with kraken exchange, you or your father can still trade with another exchange, there are many reputable exchanges that can be trusted, for example binance, huobi and many other exchanges.

[danherbias07]

I will give it a try COINBASE first thing tomorrow since it's really late in my timezone.

But I did use VPS to buy from PAYBIS with credit card small amount and I had no problems. They also offer Sepa bank transfe!

You should try it first.
Maybe we could be of some help afterwards as many of us have different experiences from this kind of changing countries.
It wont hurt to try, right? They have different regulations there and maybe your stand could be proven with just some documentation.

Coinbase might be strict with country policies but there could be exceptions.

[Nawrod]

Well, better use other exchanges, like for example Coinbase or Coindeal. These two are my favourite, very professional and reliable. The second one - CoinDeal is pretty young exchange, but very rapidly developing, recently they have entered the US market. I would even say that trading there is more profitable right now than on CoinBase. You've got deposits in some currencies free of charge and if you have some CDL Tokens, these could also lower your fees.

[gentlemand]

Coinbase might be strict with country policies but there could be exceptions.

I doubt it. I've read of people logging in to Coinbase when travelling in places that aren't on their approved list and their accounts got shown the door. Many of these places don't seem capable of understanding you might actually go to another country sometimes but I guess it pays for them to be paranoid.

[alyssa85]

I will give it a try COINBASE first thing tomorrow since it's really late in my timezone.

Coinbase tends to be even more draconian than Kraken. They won't tolerate VPNs, sending coins to gambling sites, the list of stuff they ban is very long.

Both Coinbase and Kraken are based in the US, which is why they behave like this.

Where are you located? Is there an exchange that serves your home country that you can try?

[sarakuka]

I'm located in EU Romania at the moment and my father is living in Netherlands and his bank account is in Netherlands.

We do can do payment with visa card verified by 3-d or Sepa bank transfer.

I will give it a try COINBASE first thing tomorrow since it's really late in my timezone.

Coinbase tends to be even more draconian than Kraken. They won't tolerate VPNs, sending coins to gambling sites, the list of stuff they ban is very long.

Both Coinbase and Kraken are based in the US, which is why they behave like this.

Where are you located? Is there an exchange that serves your home country that you can try?

[AliMan]

at least your money is returned, very rarely does the exchange suspend a user's account and then return the money, salute with kraken exchange, you or your father can still trade with another exchange, there are many reputable exchanges that can be trusted, for example binance, huobi and many other exchanges.

I am so overwhelmed by this exchange despite of the suspension of an the account of our friend. This should be observed by different exchanges, because as far as know it has been taking more dominant with respect to strict implementation of their rules. Some of the reputable exchanges, needed to undergo suspension but we need to wait until such time that reached until the term was served.

[aardvark15]

Not sure but if the suspect some kind of fraud, then you may not be able to set the account up. Maybe try a different exchange.

[exstasie]

I will give it a try COINBASE first thing tomorrow since it's really late in my timezone.

Coinbase tends to be even more draconian than Kraken. They won't tolerate VPNs, sending coins to gambling sites, the list of stuff they ban is very long.

I'm not sure about the VPN bit. When they responded to an inquiry last year from the NYAG, Coinbase said they did not limit VPN usage. Only Bitstamp and Poloniex did/do. Kraken didn't respond to the inquiry:



However, it's possible they won't let you register a new account from known VPN IP addresses.

I'm located in EU Romania at the moment and my father is living in Netherlands and his bank account is in Netherlands.

Coinbase supports Romania. You might try just verifying his information while logging in from Romania. It might set off a red flag for them, but so too might using VPN and remote desktop connection.

[gentlemand]

I'm not sure about the VPN bit. When they responded to an inquiry last year from the NYAG, Coinbase said they did not limit VPN usage. Only Bitstamp and Poloniex did/do. Kraken didn't respond to the inquiry:

I wouldn't trust them not to throw a hissy fit. I've seen many a thread like this - https://www.reddit.com/r/BitcoinMarkets/comments/8119bu/warning_do_not_use_vpn_with_coinbasegdax/

It's also easy to forget you're using a VPN. I regularly use the inbuilt Opera VPN to nick films and that place's default location appears to be Ukraine which is not on their approved list. One mistaken login and it may be account closure time.

[1Referee]

Both Coinbase and Kraken are based in the US, which is why they behave like this.

Probably more related to their banking partners setting the boundaries and directly decide what can and can't be done.

I expect things to get worse as banks themselves will be subjected to stricter regulations in the future, so everything that happens in that field, will directly affect the exchanges as well. It's impossible for an exchange to reject whatever the banks demand from them, otherwise they have no bank accounts. Good luck finding a long term banking partner as exchange. Launching a space shuttle successfully is easier.

I have to admit that for such a respected exchange Kraken's headlines haven't been too positive in the last couple of months. Hope they don't fuck up because they are the largest BTC/EUR exchange.

[exstasie]

It's impossible for an exchange to reject whatever the banks demand from them, otherwise they have no bank accounts. Good luck finding a long term banking partner as exchange. Launching a space shuttle successfully is easier.

I've always wondered why huge exchanges like Coinbase and Bitfinex don't just buy a bank. Just drop a few tens of millions USD and cover the reserve capital requirements, and then losing a banking partner here and there won't hurt so much.

Maybe there are some details I'm glossing over.....

I have to admit that for such a respected exchange Kraken's headlines haven't been too positive in the last couple of months. Hope they don't fuck up because they are the largest BTC/EUR exchange.

I haven't seen any negative headlines lately. Maybe some customer complaints here and there, but that's true of every exchange. I've actually been thinking of signing up there now that Coinbase Pro's fees are so high.

[LeGaulois]

@OP

If you can use IDEAL or Bancontact you could take a look at Bitonic.nl and/or their sister site BL3P.eu. Bitonic doesn't even need you to create an account if I remember.
And they're from the same country as you, I believe you will have less problem there. But if you want to be sure you can give a call? They're your neighbors https://bitonic.nl/contact It will take 2 minutes at max...

You are lucky your money was refunded.

It's not a matter of luck, it's a matter of rights and laws. Kraken do the same with any customer, no matter what was the original problem they always refund the payment transfer

[gentlemand]

I haven't seen any negative headlines lately. Maybe some customer complaints here and there, but that's true of every exchange. I've actually been thinking of signing up there now that Coinbase Pro's fees are so high.

I've never had a moment's trouble. I verified there about five years ago and there's never been a squeak since. If it were with Bitstamp I would've had to have provided 3 months of uploads from my brain along with 50-90 polaroids of various objects inserted in my pussy by now.

[princerepon]

I have recently created an account for my father in kraken.com exchange.

We did together every single verification they asked for from level 1 to max but they still closed-suspended the account and refunded the money in the end even after going with every single verification they asked made more then 30 pictures took us days to arrive in the final verification step kraken asked us to.

30 pictures what are they trying to do, a photo album or what..? I mean i also complete kyc for couple of exchanges but this thing is really surprise me.

The reason they suspended the account was that we used RDP connection. Why is this a problem we are now in vacation and we used our computer in our country to do the signup and verification process with anydesk.

You are lucky that you choose a trust able exchange. Otherwise your money will not be refunded if you were choose other shit exchange. (which we can see now days regularly)

Any idea how can i process this somewhere else and do it correctly faster and successfully.

I think it's a better idea to ask their support center than here. You can try it: Kraken Support Center Or you can contact other support channel which @stomachgrowls give under your post.

[beerlover]

There is always that one line that gives away the whole reason for these kinds of things. "The reason they suspended the account was that we used RDP connection. Why is this a problem we are now in vacation and we used our computer in our country to do the signup and verification process with anydesk", which is basically a way of saying "we were not at the place we said we were" and that is the reason.

You don't have to look further into why and how you got suspended, you should be happy that you got your money back so quickly because they could have kept your money in money laundering charges, now you don't have to be laundering any money but what you did does raise those alarms even if you are innocent. Be at the place you say you are next time and you won't have trouble.

[1Referee]

I've always wondered why huge exchanges like Coinbase and Bitfinex don't just buy a bank. Just drop a few tens of millions USD and cover the reserve capital requirements, and then losing a banking partner here and there won't hurt so much.

Maybe there are some details I'm glossing over.....

It legally probably involves more than just acquiring a small bank. Coinbase has had interest in obtaining banking licenses for quite some time now, but considering that there is total silence from their side regarding banking licenses it's safe to say that regulators aren't keen to grant them any. Coinbase would be a monster exchange if so. I think that bit scares off regulators.

https://bitcoinist.com/coinbase-aims-obtain-banking-licenses/

Coinbase was granted an e-money license by the Bank of Ireland this year, but it's a far cry from an actual banking license; https://support.coinbase.com/customer/en/portal/articles/2928609-e-money-license