Re: Bitstamp - wanted to withdraw money and was hit with these weird KYC questions
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Second, while some questions kinda sorta make sense, others are rather useless, redundant or impossible to address accurately. And some of their requests are downright audacious, not to mention grossly lacking respect to personal security. If I mine it's none of their goddamn business what the hell I mine with, what are the hardware specs and sure as hell they don't need to get invoices to every piece of hardware I mine with.
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We kindly ask you to answer the following KYC questionnaire:
1. How did you learn about Bitcoin?
2. The purpose of trading on Bitstamp?
3. What is the origin of the deposited Bitcoins? If mining, please specify your hardware specifications and submit a receipt or an invoice for your mining equipment.
4. When and how did you obtain your Bitcoins?
5. What is the reason for your activity - depositing BTC, selling, withdrawing?
6. What are your future plans and activities planned on our exchange?
7. Do you plan more of such withdrawals in the future? If yes, how many and why?
8. Which bank are you using? Please provide the complete address and SWIFT code.
We kindly ask you to submit your answers and documents in a reply to this ticket.
1. How did you learn about Bitcoin?
2. The purpose of trading on Bitstamp?
3. What is the origin of the deposited Bitcoins? If mining, please specify your hardware specifications and submit a receipt or an invoice for your mining equipment.
4. When and how did you obtain your Bitcoins?
5. What is the reason for your activity - depositing BTC, selling, withdrawing?
6. What are your future plans and activities planned on our exchange?
7. Do you plan more of such withdrawals in the future? If yes, how many and why?
8. Which bank are you using? Please provide the complete address and SWIFT code.
We kindly ask you to submit your answers and documents in a reply to this ticket.
Second, while some questions kinda sorta make sense, others are rather useless, redundant or impossible to address accurately. And some of their requests are downright audacious, not to mention grossly lacking respect to personal security. If I mine it's none of their goddamn business what the hell I mine with, what are the hardware specs and sure as hell they don't need to get invoices to every piece of hardware I mine with.
I agree with the opinion about this questions. Some make sense, some downright audacious...
All this is very normal in high risk industries. If anything being asked questions like this should make you feel more secure about using their service. It's the exchanges that don't ask these questions that you should be worried about as they are not planning ahead for regulation which is risky territory.
Agree too... But does Bitstamp need this downright audacious question too? I cant imagine Bitstamp is doing it because of boredom! Got they forced to do this kind of KYC questionnaire by there bank, or the GCHQ because their UK based business entity Ltd.?
Or did ID3global some consulting in that way? What is going on behind the scene?
imagine being the boss of stamp. all these millions jumping around. you know that you a lot of enemies in the EU bureaucracy /banking elite / lawmakers /etc.. would you rather just sit and wait what happens next or would you try to look and taste and smell as complaint as possible in advance.
they are acting responsible. they are protecting your funds.