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Business Profile

Cryptocurrency Exchange

Luno US, Inc.

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Cryptocurrency Exchange.

Complaints

Customer Complaints Summary

  • 1 complaint in the last 3 years.
  • 0 complaints closed in the last 12 months.

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The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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  • Initial Complaint

    Date:10/13/2022

    Type:Product Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    hello yesterday late afternoon i signed up with Luno cryptocurency or ******** to buy bitcoin. i added money from my checking account to buy the bitcoin needed to send so i can recieve my payout with another company in order to do so i needed a e-wallet that will send bitcoin for me im new to all this. i wasnt aware of a few things. one that i cant send anything to anywhere till October 27th whoa i needed my money 63$ i put onto luno taken out as soon as possible like less than 24hrs so i msgd customer service well in the end they inform me they cant over ride any wait times and pretty much werent gonna try n help me at least put the money i deposited yesterday back to my bank account i was not aware this site was mostly an investment site. well no where in signing up did i see anything about holding onto funds and nothing about double checking i wanna invest here because they mostly hold money. i asked for my money be deposited back to my bank card please today im in a time frame if i dont pay this bill i have 23 hrs to pay i will lose a partial deposit on a place to live . all i ask is for my money back today i cant wait 1-3 business days. clearly states on luno buy sell trade crypto and bitcoin

    Business Response

    Date: 10/26/2022

    Dear Best Business Bureau,

    We’re sorry to hear of the dissatisfaction of one of our valued customers and want to thank you for giving us a chance to respond to this matter.

    ******* reached out to Luno customer support on 2022/10/21 to enquire about why she is unable to transfer out the cryptocurrency received a few days earlier. She was advised that there is a waiting period of 14-days for this feature to be enabled and was provided with the exact date that this feature will be available.

    Below we have detailed the sequence of events:
    - ******* signed up with Luno, the account was successfully verified on the same day.
    - She received a total of 2 Bitcoin (BTC) transactions on the same day.
    - ******* requested for the cryptocurrency send feature to be enabled and was told about the waiting period through this article on our Help Centre.
    - ******* reached out to our live chat support services expressing her dissatisfaction with the duration of the waiting period for the cryptocurrency sending feature to be enabled.
    - A customer support team member explained that this delay is implemented when activating crypto sends on your profile for the first time, this is done as a measure to protect customers from scams or irreversibly sending cryptocurrency to the incorrect wallet.
    - ******* then informed us that she would like to withdraw her funds and she was given options on how to do so.
    - ******* decided to sell her bitcoin and withdrew all the fiat currency from her bank account.


    Whilst we empathize with ******* and regret the inconvenience this rule may have caused, we would like to reiterate our intention to protect our customers. Once completed, cryptocurrency transactions can’t be reversed and this rule gives customers the required time to ensure their funds are being sent safely and to the intended recipient.

    We have attempted to reach out to ******* to ensure clarity on the matter but have been unable to. We hope to continue putting the power of crypto in everyone's hands in a safe and sustainable manner.

    We hope this response has given sufficient detail regarding Luno's position in this matter and want to thank you for your correspondence.

    Regards,
    Luno Complaints

    Customer Answer

    Date: 10/31/2022



    Better Business Bureau:



    I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.




    Sincerely,



    ******* *******

Luno US, Inc. is NOT a BBB Accredited Business.

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