Jump to content
  • 0

Cannot withdrawal to aproved account.


AlexeyUlasevich

Question

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.

Link to comment

11 answers to this question

Recommended Posts

  • 1

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

Link to comment
  • 0

Got email from support:

Quote

Please note that due to increased volatily we are experiencing delays in fund withdrawals. We'll provide you with more information as soon as we have updates.

Sounds strange. I try to get my money back every day - nothing happens.

Link to comment
  • 0

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.
 

 

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      20,028
    • Total Posts
      88,036
    • Total Members
      69,022
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    19911990
    Joined 28/09/22 17:45
  • Posts

    • In this week’s Trading the Trend, Axel Rudolph FSTA looks at the downward trend of the German DAX, going short on the bounce to 12,300, with a stop-loss at 12,940 and a long-term downside target of 11,500. ig        
    • BRITISH POUND TALKING POINTS: GBP/USD was in a difficult spot earlier in September and the problem has continued to devolve. It’s a negative feedback type situation around the UK and the British Pound with a collapsing currency leading to surging bond yields which led to a BoE intervention effort that’s led to more currency collapse. It’s a painful feedback loop that hasn’t yet stopped. Is there hope on the horizon? And is this a problem that will be relegated to the UK, as it has similar hues to problems being seen in Europe and the United States. The current backdrop is messy as bonds and FX are screaming panic and meanwhile, US equities look relatively calm. I discussed this at-length in yesterday’s webinar. The British Pound collapsed last week, or so we thought, only to open our platforms this week to see what a collapse in a major currency actually looked like. GBP/USD has set a fresh all-time-low and perhaps more disturbingly, in the days since, price hasn’t really rebounded much. Sellers are still hitting the pair and now there’s other dislocations that are taking place.   The UK is faced with a similar problem as Europe and the US with extreme inflation. All three Central Banks were rather calm as inflation built through much of last year but this year, as inflation continued to run-higher even after initial tightening efforts, worry started to show given that central bank efforts were not only unsuccessful but also appearing to bring on even more problems. Full article and technical analysis: Sep 28, 2022 | James Stanley, Senior Strategist | DailyFX
    • What market data to trade on Thursday: EUR/USD, NXT, MU & NKE The downward trend for the Dax is expected to continue on Thursday with the upside risk to German inflation data. IGTV’s Jeremy Naylor looks at EUR/USD. Earnings out on Thursday include Next (NXT), Micron Tech (MU) and Nike (NKE).        
×
×
  • Create New...