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Cannot withdrawal to aproved account.


AlexeyUlasevich

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Hi,

I tried to withdrawal my funds to my bank account twice last week. And every time I got message "We’re unable to return your funds". My bank account has "approved" status in IG and was used for deposit. Twice I send email message to HelpDesk - still no answer. Optionally I attached to my emails last bank statements and account details from my bank. Please resolve it.

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Hi @AlexeyUlasevich

Thanks for the feedback. 

Due to recent imposed sanctions, payments to Russian residents have to go through enhanced due diligence from our compliance team. The funds have now been cleared for release as part of today's payment run. Our apologies in the delay in processing your withdrawal. 

All the best, 

Anda

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Hello Alexey,

I am facing the same problem as you. I tried to withdraw a few thousand USD to my Singapore bank account, you guess what, 4 times all failed.

The funds was transferred from HSBC bank in Hongkong Via NY Mellon bank. NY Mellon bank is the intermediary bank and it seems they rejected it giving the reason being it has been rejected by my Singapore bank.

This Singapore account also is my funding account and I also has successfully withdraw money to this account in 2020. So why in 2022 nothing can be done ?

So I ask my CIMB bank what documents is needed to proof that the remittance bank or intermediary bank did attempt to send the money. So my Singapore banker requested them to show the SWIFT MT103 document proof of the fund transfer, but the backoffice people from using email from payments@ig.com said it is not able do so due to secrecy of ig.com accounts information.

An example of the SWIFT MT103 can be found in the url below :-

https://help.flywire.com/hc/en-us/articles/360012919014-What-is-a-SWIFT-MT103-document-

Then the backoffice ig person ask me for whether my Singapore bank got any requirement for receiving funds etc...

So I got no clue how I can withdraw the money but will try to use Wise to send and receive money in next 2 weeks.
 
Can it be that ig.com has liquidity problem ? Or New York Mellon Bank got restriction of outflow of USD ?
 
Mar 16th is the default date on Russia government debts so look like more problem ahead.
 

 

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