Oanda refuses withdrawal

fmmwabrd said:
The background is this:
I changed my banking, deleted the old bank account from Oanda and added the new one.
They refuse withdrawals to the new account asking for proof that my old bank account is closed.
The old account was closed over a month ago and since I am no longer a client at that bank
they do not provide any proof for me that the account is closed.
So I am stuck between a rock and a hard place, asking to prove something I don't
have is not reasonable...it's impossibility of reason!

Sorry for the harshness of my previous post, I just really don't know what to do.

Cheers,
Jakab Tanko
More...

Very weird story.

The bank doesn't matter, all that matters is that the account is in your name(the same name as the trading account holder).
 
DevBru said:
Very weird story.

The bank doesn't matter, all that matters is that the account is in your name(the same name as the trading account holder).
More...
If the company is located in the USA then yes, the name on the bank statement matters. It's a anti money laundering law here. That money can only be withdrew to that same account unless that account was closed. If that's the case, all you would need to do is show a statement with address/name proof, done. Been through this a few times.
 
I am not smearing anybody.

This is one of the replies I got from them:
"
Dear Jakab Tanko,

Thank you for contacting OANDA.

Thank you for your ongoing patience whilst we look into resolving this matter.

I understand that you would like to raise a complaint concerning your withdrawal request. I have investigated your concerns and my findings on this matter are explained below:

Please note that whilst we understand that it can be frustrating dealing with your former Bank ( DEUTSCHE POSTBANK AG) and get them to provide you with information that confirms the closure of your account with them, Please note that we must insist that we get this evidence as we are obliged by Anti Money Laundering requirements that are in place to protect clients and their money.

I trust that my explanation has resolved this matter.

However, should you disagree with my findings please contact our Compliance Team at disputes@oanda.com who will carry out an impartial, independent review of your complaint and provide a full written response as per our Complaints Policy (https://www.oanda.com/resources/legal/europe/legal/complaints-policy).

Our client experience team is here to help 24 hours a day from Sunday at 1 p.m. EST to Friday at 6 p.m. EST. If you have any questions, please do not hesitate tocontact us.


Build your Forex trading knowledge

It is my pleasure to assist you,

Client Experience Team
"
Cheers
 
IAlwaysWin said:
If the company is located in the USA then yes, the name on the bank statement matters. It's a anti money laundering law here. That money can only be withdrew to that same account unless that account was closed. If that's the case, all you would need to do is show a statement with address/name proof, done. Been through this a few times.
More...

That is exactly what i said, the bank doesn't matter, only the name of the person holding the account at the bank and the trading account.
 
fmmwabrd said:
I am not smearing anybody.

This is one of the replies I got from them:
"
Dear Jakab Tanko,

Thank you for contacting OANDA.

Thank you for your ongoing patience whilst we look into resolving this matter.

I understand that you would like to raise a complaint concerning your withdrawal request. I have investigated your concerns and my findings on this matter are explained below:

Please note that whilst we understand that it can be frustrating dealing with your former Bank ( DEUTSCHE POSTBANK AG) and get them to provide you with information that confirms the closure of your account with them, Please note that we must insist that we get this evidence as we are obliged by Anti Money Laundering requirements that are in place to protect clients and their money.

I trust that my explanation has resolved this matter.

However, should you disagree with my findings please contact our Compliance Team at disputes@oanda.com who will carry out an impartial, independent review of your complaint and provide a full written response as per our Complaints Policy (https://www.oanda.com/resources/legal/europe/legal/complaints-policy).

Our client experience team is here to help 24 hours a day from Sunday at 1 p.m. EST to Friday at 6 p.m. EST. If you have any questions, please do not hesitate tocontact us.


Build your Forex trading knowledge

It is my pleasure to assist you,

Client Experience Team
"
Cheers
More...
I would do this.

However, should you disagree with my findings please contact our Compliance Team at disputes@oanda.com who will carry out an impartial, independent review of your complaint and provide a full written response as per our Complaints Policy (https://www.oanda.com/resources/legal/europe/legal/complaints-policy).
​
I would also call your bank and ask to speak to a branch manager about getting that statement. Or use an old statement, it doesn't have to be new. I think if it's within 60/90 days it's still valid.
 
IAlwaysWin said:
Now I'm calling BULLSHIT.. You're most likely a Forex.com rep smearing Oanda. No real person leaves money on the table like that. I'd be contacting the CEO as a last resort, not giving up. You're lying!!
More...

Duh... some leave much more on the table if they think it is not worth the hassle
 
fmmwabrd said:
I am not smearing anybody.

This is one of the replies I got from them:
"
Dear Jakab Tanko,

Thank you for contacting OANDA.

Thank you for your ongoing patience whilst we look into resolving this matter.

I understand that you would like to raise a complaint concerning your withdrawal request. I have investigated your concerns and my findings on this matter are explained below:

Please note that whilst we understand that it can be frustrating dealing with your former Bank ( DEUTSCHE POSTBANK AG) and get them to provide you with information that confirms the closure of your account with them, Please note that we must insist that we get this evidence as we are obliged by Anti Money Laundering requirements that are in place to protect clients and their money.

I trust that my explanation has resolved this matter.

However, should you disagree with my findings please contact our Compliance Team at disputes@oanda.com who will carry out an impartial, independent review of your complaint and provide a full written response as per our Complaints Policy (https://www.oanda.com/resources/legal/europe/legal/complaints-policy).

Our client experience team is here to help 24 hours a day from Sunday at 1 p.m. EST to Friday at 6 p.m. EST. If you have any questions, please do not hesitate tocontact us.


Build your Forex trading knowledge

It is my pleasure to assist you,

Client Experience Team
"
Cheers
More...

So don't post misleading opening salvos to bolster your argument. Like any other established financial institution it's clear by this letter that they are trying to work with you to resolve the problem. They have explained what you need to do.

So do it.
 
fmmwabrd said:
I am not smearing anybody.

This is one of the replies I got from them:
"
Dear Jakab Tanko,

Thank you for contacting OANDA.

Thank you for your ongoing patience whilst we look into resolving this matter.

I understand that you would like to raise a complaint concerning your withdrawal request. I have investigated your concerns and my findings on this matter are explained below:

Please note that whilst we understand that it can be frustrating dealing with your former Bank ( DEUTSCHE POSTBANK AG) and get them to provide you with information that confirms the closure of your account with them, Please note that we must insist that we get this evidence as we are obliged by Anti Money Laundering requirements that are in place to protect clients and their money.

I trust that my explanation has resolved this matter.

However, should you disagree with my findings please contact our Compliance Team at disputes@oanda.com who will carry out an impartial, independent review of your complaint and provide a full written response as per our Complaints Policy (https://www.oanda.com/resources/legal/europe/legal/complaints-policy).

Our client experience team is here to help 24 hours a day from Sunday at 1 p.m. EST to Friday at 6 p.m. EST. If you have any questions, please do not hesitate tocontact us.


Build your Forex trading knowledge

It is my pleasure to assist you,

Client Experience Team
"
Cheers
More...

Is the new aacount you are trying to withdraw to in the same name as the old one and the same name as your trading account?
 
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