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Looks like I've been "de-banked"

Stephen

Stephen

Active member
Tried to transfer £1,000GBP converted to USD via XE this morning, I've used them multiple times before for transferring funds to Kinesis without problem, usually in chunks of £2K. The transfer was rejected and I immediately received this email:

Screenshot 2023-09-18 at 09.28.18.png


I am now left without any means of on-ramping to Kinesis, Wise doesn't work, direct from my UK bank doesn't work and now my last avenue has been closed. I'm certain that this is a policy being rolled out across the west to curtail options outside of the mainstream banking system where ever more stringent "regulatory requirements" are needed to keep us all enslaved compliant.

This new UK/Euro on-ramp can't come quick enough ........
 
"Unfortunately, we're unable to continue to offer you our international payments service and have closed your account. We will not be able to provide any further information as to the reason why."

Welcome to the club, Stephen. I received the same nastygram from Xe in January. It seems there is unmistakable regulatory pressure on companies like Wise and Xe to curtail certain transactions, especially crypto-related ones. A few companies with backbones are resisting the pressure but other weak-kneed actors like Xe are just giving in to big brother.
 
Well yesterday I swopped GBP into USD and sent funds my usual way - the USD were in my account this morning (the following day).
 
I moved several posts on user account ID's that were previously posted here to this thread:

User defined account ID's for payments

On the subject of x-border transfers, costs, issues & new developments, Revolut business now allows xfr via url. Also results on a survey about payments. For awareness by Kinesis: https://www.finextra.com/newsarticle/42969/revolut-launches-swift-challenger-revtag
forum.kinesis.money forum.kinesis.money
 
Stephen said:
Tried to transfer £1,000GBP converted to USD via XE this morning, I've used them multiple times before for transferring funds to Kinesis without problem, usually in chunks of £2K. The transfer was rejected and I immediately received this email:

View attachment 4331


I am now left without any means of on-ramping to Kinesis, Wise doesn't work, direct from my UK bank doesn't work and now my last avenue has been closed. I'm certain that this is a policy being rolled out across the west to curtail options outside of the mainstream banking system where ever more stringent "regulatory requirements" are needed to keep us all enslaved compliant.

This new UK/Euro on-ramp can't come quick enough ........
Click to expand...
Don't even bother. Robinhood➡️buy XLM➡️ send to KMS➡️sell for USD➡️use USD to buy KAU/KAG
 
Stephen said:
This morning I received another email from XE:
View attachment 4335
It seems they have had a change of heart and removed me from the naughty step! I've just sent £1k so we'll so how it goes .....
Click to expand...


What arguments did you use in order to get this change of mind from them? I would like to know because perhaps it would work for others in the future....
 
Last edited:
i have given him an option and account to send to which i successfully used on the day he started the thread. He says he is going to wait for the on-ramps.
 
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