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Post by wonder on Jul 7, 2017 12:08:45 GMT
Hi.
I just tried to withdraw a small sum, and was greeted by a big red box saying:
"In order to enable withdrawal requests we need to update our AML records. Please email a copy of a recent identity document (Passport/Driving License) along with proof of address (Utility or Council Tax bill) to verification@lendy.co.uk. Once we have confirmed these documents, we can enable account withdrawals."
Is this legit? I have been asked for identification documents before establishing an account before, but I've never been asked for them before withdrawing funds from an *existing* account.
My paranoid self wonders whether this might be a way of slowing the flight of funds from the platform. Please say it ain't so!
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r1200gs
Member of DD Central
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Post by r1200gs on Jul 7, 2017 12:10:12 GMT
Hi. I just tried to withdraw a small sum, and was greeted by a big red box saying: "In order to enable withdrawal requests we need to update our AML records. Please email a copy of a recent identity document (Passport/Driving License) along with proof of address (Utility or Council Tax bill) to verification@lendy.co.uk. Once we have confirmed these documents, we can enable account withdrawals." Is this legit? I have been asked for identification documents before establishing an account before, but I've never been asked for them before withdrawing funds from an *existing* account. My paranoid self wonders whether this might be a way of slowing the flight of funds from the platform. Please say it ain't so! Perfectly normal, not a sign of Lendy running out of money. 
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Post by wonder on Jul 7, 2017 12:20:33 GMT
Hi. I just tried to withdraw a small sum, and was greeted by a big red box saying: "In order to enable withdrawal requests we need to update our AML records. Please email a copy of a recent identity document (Passport/Driving License) along with proof of address (Utility or Council Tax bill) to verification@lendy.co.uk. Once we have confirmed these documents, we can enable account withdrawals." Is this legit? I have been asked for identification documents before establishing an account before, but I've never been asked for them before withdrawing funds from an *existing* account. My paranoid self wonders whether this might be a way of slowing the flight of funds from the platform. Please say it ain't so! Perfectly normal, not a sign of Lendy running out of money. That's good to hear! Just out of curiosity, why are they doing checks now? I've been trading with them for 16 months.
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GeorgeT
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Post by GeorgeT on Jul 7, 2017 12:36:50 GMT
Never had such a request but I will report back if I do.
Problem is, it's Friday. Otherwise I'd be submitting a withdrawal request myself. But, if I do, chances are I won't get the dosh till Monday now so I'll wait because I'm expecting further sales over the weekend and will do one withdrawal request for the lot on Sunday evening.
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0risk
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Post by 0risk on Jul 7, 2017 16:36:19 GMT
I've had this warning too. I sent the docs, and a couple of hours later my account was verified.
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7d7
Member of DD Central
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Post by 7d7 on Jul 17, 2017 16:24:56 GMT
A couple of hours later? Lucky you!
Not the same here. I must confess the quality of service in the communications department is truly abysmal.
Why was this not done with deposits instead?
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Jul 17, 2017 17:34:10 GMT
Perhaps we should ask for similar documentation from them, they could be sending out dirty cash!!!  |
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will
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Post by will on Jul 18, 2017 6:28:23 GMT
Does anyone know how long this process normally takes? I've been waiting 24 hours now, which IMO is long enough to verify some documents.
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7d7
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Post by 7d7 on Jul 18, 2017 17:28:16 GMT
I doubt anyone does. Don't even bother contacting Support for answers. Lendy was at the top of my investment table up to last year. They're now heading to the relegation zone.
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MarkT
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Post by MarkT on Jul 18, 2017 20:01:13 GMT
Slightly off topic and not in the least directed specifically at Lendy, but I am absolutely convinced that all this KYC stuff, that is required by the regulators, has contributed enormously to the incidence of identity theft.
The vast amount of verified personal information that has to be supplied to any and all financial service providers that one conducts business with cannot possibly be held totally secure in all cases.
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jonah
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Post by jonah on Jul 18, 2017 20:49:31 GMT
Slightly off topic and not in the least directed specifically at Lendy, but I am absolutely convinced that all this KYC stuff, that is required by the regulators, has contributed enormously to the incidence of identity theft. The vast amount of verified personal information that has to be supplied to any and all financial service providers that one conducts business with cannot possibly be held totally secure in all cases. I believe that they destroy it after confirming you are who you say you are. That said, I agree that posting /emailing copies of passports is a disaster waiting to happen.
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will
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Post by will on Jul 18, 2017 21:14:17 GMT
Was verified this morning, so took 30 hours or so.
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debaura
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Post by debaura on Jul 19, 2017 7:10:36 GMT
I am LIVID! I have been waiting 2 days now to withdraw over £10,000. No reply to any emails. All documents sent 2 days ago. Very unhappy here. Why put a sudden stop on withdrawals? Why not allow them and give their customers a week to supply the documents? Disgrace.
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Post by brokenbiscuits on Jul 19, 2017 9:16:34 GMT
Slightly off topic and not in the least directed specifically at Lendy, but I am absolutely convinced that all this KYC stuff, that is required by the regulators, has contributed enormously to the incidence of identity theft. The vast amount of verified personal information that has to be supplied to any and all financial service providers that one conducts business with cannot possibly be held totally secure in all cases. This is my concern. Another platform has done all the know your customer checks. I've invested and now I want to withdraw some money they want me to send a copy of a bank statement with my name on it to prove the account is mine. Never had this anywhere else and they won't tell me directly why it's needed other than 'we take our anti money laundering obligations very seriously' Is this normal/reasonable? At least lendy are not taking it to this extra level.
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Post by p2plender on Jul 26, 2017 1:49:52 GMT
Perhaps the Lendy representative would like to tell us all why Lendy only wait for clients to withdraw money before hitting them with a big red 'computer says no' box asking for KYC details???
You are clearly aware of which clients are required to provide you with these details so why are you not requesting these immediately?
I presume you think your investors are happy to have large sums of cash frozen until you decide it fit to deal with emails??
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