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Currencies Direct locked account & demanding proofs

JexMeTex
JexMeTex Posts: 11 Forumite
Fifth Anniversary First Post
edited 16 August 2024 at 11:10PM in Budgeting & bank accounts
Resolved - please delete

Comments

  • Ballard
    Ballard Posts: 3,009 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Being as you haven’t used your account in 2 or 3 years, your accounts have been marked as inactive and CD will need to follow their procedure to reactivate them. This could mean a full KYC, as you seem to be experiencing. 
  • JexMeTex
    JexMeTex Posts: 11 Forumite
    Fifth Anniversary First Post
    Familiar with KYC but their asks here are ridiculously over the top.
  • friolento
    friolento Posts: 3,499 Forumite
    1,000 Posts Second Anniversary Name Dropper Photogenic
    JexMeTex said:
    Familiar with KYC but their asks here are ridiculously over the top. 

    It seems you have two options:

    1 - provide them with the requested details and hopefully get your account reactivated 

    2 - do not provide them with the requested details and keep your account locked
  • DoboChopSueyBar
    DoboChopSueyBar Posts: 40 Forumite
    10 Posts Photogenic
    JexMeTex said:
    Familiar with KYC but their asks here are ridiculously over the top.
    It might seem OTT to you but that’s what KYC checks are about. Otherwise there are consequences for institutions: such as Wise who were fined £100k+ by the UAE regulator not too long ago for failing to carry out thorough KYC checks for UAE origin payments- as a result Wise no longer allow AED payments to be sent through locally issued debit cards or local bank transfers in UAE. 
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