As mentioned in our earlier update, while we work towards a long-term solution for our account with Maybank, they have agreed to help us process our customers’ withdrawals in batches over the next few months. Please find details on the process below:
On 29 March 2018, we will begin manually processing all pending withdrawals with Maybank.
On 23 April 2018 we will re-activate withdrawal functionality, allowing customers to submit new withdrawal requests. We will start processing all new requests on 2 May 2018.
All withdrawals will be processed in batches. High-value transactions will be processed first, followed by all other withdrawals. As these transactions will be processed manually, they will take time to process and there will be a small administrative fee charged by Maybank.
We will continuously monitor the liquidity of the Luno Exchange. If large fluctuations in price are experienced, we may consider temporarily suspending our instant buy and sell feature, and/or the exchange in general.
We encourage customers to make use of this opportunity to withdraw their money, while we continue to work on alternative banking solutions.
With a large number of withdrawals expected, we kindly ask for your patience while we process your request. Inter-bank transfers will take slightly longer than Maybank to Maybank transfers.
While we work with Maybank to process withdrawals, we are actively working on alternate solutions to speed things up. We will keep everyone posted in case there are changes to the schedule.
Emails on the above (in English and Bahasa Malaysia) will be sent to all Luno Malaysia customers.
We apologise for the long wait and thank you for your support as always.