vic
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Post by vic on Jul 27, 2017 9:41:24 GMT
Could not have imagined this kind of a nightmare in the worst dreams. Secondary market came to a full stop a few months ago. Sale queues only growing making it impossible to sell anything (24 hours sounds like a bad joke from Lendy). Not only that. Now they started tricks to stop catastrophic withdrawal of investor money. So when you managed to sell some parts and wanted to withdraw... Bummer! You discover that they disabled withdrawals!!:
"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 veri*******@lendy.co.uk. Once we have confirmed these documents, we can enable account withdrawals."
What?! When I was moving 20K back and forth they were happy with my identity, suddenly when I want to withdraw during bad times my identity needs to be re-confirmed?! I sent my passport scan to them and clearly stated that I'm based out of the UK now, so proof of address is impossible, and my online bank does not provide PDF statements. Silence - they have been ignoring my emails for 2 days now, even though I managed to get Annual Summary PDF with address on it from my bank - silence...
Yes you got it right: they take hold of your money and refuse to return. For sure, I am the corrupted mob laundering my terrifically huge wealth in the amount of 10K with Lendy!
Lendy is going to abyss this is clear. I'm afraid we have to get ready for a bankruptcy announcement soon... started so well...
To Lendy: I demand my money back.
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twoheads
Member of DD Central
Programming
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Post by twoheads on Jul 27, 2017 10:03:27 GMT
Welcome vic .
There is already a thread here about Lendy withdrawal problems.
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vic
Posts: 33
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Post by vic on Jul 27, 2017 10:43:31 GMT
Thanks twoheads! Yes read that thread. However I felt the problem isn't just the 'identity check', what we see is just the surface of something very bad happening right now behind the scenes. Thus I thought the subject needs another title for it. Things are much worse than we want to admit...
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r1200gs
Member of DD Central
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Post by r1200gs on Jul 27, 2017 10:48:06 GMT
Oh do calm down.
The SM has dropped from 8 million to 5 in the space of a couple of weeks.
Lendy are not the only one that have allowed funds on to the platform and then asked for KYC documents when withdrawals are made.
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jaswells
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Post by jaswells on Jul 27, 2017 11:08:28 GMT
Agreed, this appears a massive over-reaction as Lendy have yet to do anything unusual or suspicious. I would be very very surprised if they are trying to intentionally limit withdrawlas for company cash flow reasons.
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vic
Posts: 33
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Post by vic on Jul 27, 2017 11:28:01 GMT
Oh do calm down. The SM has dropped from 8 million to 5 in the space of a couple of weeks. Lendy are not the only one that have allowed funds on to the platform and then asked for KYC documents when withdrawals are made. So if proof of address is impossible then it is quite normal that support goes dead silent & money stay with Lendy forever - is that what you are implying by "Oh do calm down", right?
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vic
Posts: 33
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Post by vic on Jul 27, 2017 11:31:13 GMT
Agreed, this appears a massive over-reaction as Lendy have yet to do anything unusual or suspicious. I would be very very surprised if they are trying to intentionally limit withdrawlas for company cash flow reasons. What they are doing already feels very dodgy. For a finance company even more so.
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r1200gs
Member of DD Central
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Post by r1200gs on Jul 27, 2017 11:42:23 GMT
Oh do calm down. The SM has dropped from 8 million to 5 in the space of a couple of weeks. Lendy are not the only one that have allowed funds on to the platform and then asked for KYC documents when withdrawals are made. So if proof of address is impossible then it is quite normal that support goes dead silent & money stay with Lendy forever - is that what you are implying by "Oh do calm down", right? Firstly, I'm not excusing any delay by Lendy but my advice remains the same. Calm down. The secondary market is far from static as you claimed. It is highly unlikely that anybody could not provide proof of address via the normal means and even if they can't then there will always be some alternative. MT have just had me jumping hoops in the form of getting documents notarised because I'm new to the country.
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pom
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Post by pom on Jul 27, 2017 11:45:55 GMT
No response from support in 2 days? To be honest I'd have been more surprised if you HAD heard from them in that time
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wysiati
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Post by wysiati on Jul 27, 2017 11:57:40 GMT
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registerme
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Post by registerme on Jul 27, 2017 12:07:08 GMT
The OP might, or might not, have cause to be upset with Lendy. But it is an unsubstantiated, inflammatory and scaremongering stretch to go from there to a conclusion that Lendy is deliberately delaying or disabling withdrawals, refusing to return funds, or indeed that the company is about to go bankrupt.
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Post by p2plender on Jul 27, 2017 12:12:13 GMT
I fully understand the op's frustration here.
About time the Lendy representative came on to explain why Lendy won't email affected customers instead of informing them only when they come to make a withdrawal. Utter contempt for their investors hence why many appear to be moving away.
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fasty
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Post by fasty on Jul 27, 2017 12:15:32 GMT
Lendy seem to take pride in operating their business along the lines of the low-cost airline model. That seems to preclude much in the way of customer service. Don't be surprised.
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r1200gs
Member of DD Central
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Post by r1200gs on Jul 27, 2017 12:16:03 GMT
I fully understand the op's frustration here. About time the Lendy representative came on to explain why Lendy won't email affected customers instead of informing them only when they come to make a withdrawal. Utter contempt for their investors hence why many appear to be moving away. My guess would be that thousands all responding to that email would be overwhelming, and it's as easier to deal with them as they arise. Just my guess.
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Post by Paul64 on Jul 27, 2017 12:22:50 GMT
Hi all, apologies but I have have just picked this up. In accordance with the UK’s Anti-Money Laundering Regulations, we are required to perform regular identity checks on all Lendy investors. They are more rigorous for non-UK investors. These checks are for security purposes and to ensure the legitimacy of investors’ accounts. It looks like this is simply that the new user has not provided the right information or the information failed the AML check. This could be simply that it was older than three months old. Paul Lendy Support |
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