Dear customers,

As you may know, Luno has not been able to process deposits or withdrawals in Malaysia over the past few weeks due to an issue with our bank account. We’d like to provide a more detailed explanation of what is currently going on.

The Internal Revenue Board (IRB) has temporarily frozen the bank account of BitX Malaysia (our local entity in Malaysia), pending an investigation relating to tax matters. As part of this, the IRB has requested that we provide them with information on all our Malaysian customers: identification, deposits/withdrawals, and transactions.

not yet active, but they already confirmed bank account released by IRB.
they are preparing the withdrawal and deposit soon.

Maybank is the final gate to unfreeze their account.
so is still freeze until maybank unfreeze it.

Possible Maybank waiting greenlight from BNM.

Bro, if this case is real, MBB also need to wait official letter from IRB. Do you think IRB will be so efficient to issue letter to unfreeze your account? It will be more complicated if it involved BNM or court order.

Hi YellowGeneration, currently the issue is internal within Maybank, but we are working to resolve this asap. Regarding another bank partner, we are already looking at all possible options.
Hello Ericlaiys, if you don't mind -- could you PM me your ticket support number. I'll send a reminder to our support team to get back to you asap. Thanks.

Hi, what do you mean by “decision”? Sounds to me like the bank can suddenly “decide” to not reinstate your account. Is that a possibility?

I truly believe Luno can’t access the money and therefore can’t roll it.

However, if I owe you money but I can’t pay you because someone else is interfering with my finances, it’s not your damn problem right? It’s still my responsibility to pay you, regardless if my pet dog or dead grandfather is holding my money.

For those who wanan talk in privately for further action, please add my telegram.

Hey heavensea, we've already reached out to SSM regarding "dormant" status, and are awaiting their response. We will investigate and have this resolved asap.

(Also have replied to your PM to me.)
Hey David, I've been seeing some comments on allegations that our Maybank account is empty and closed. This is untrue on all fronts. I've personally been to meet Maybank myself now, and all customer funds are still safe with them.

(Not sure where the "proof" that it's empty and closed came from -- but if they run a proper investigation, they'll find that it's all there, still with Maybank. I believe this is purely a case of misinformation/misunderstanding/rumours.)

Meanwhile, we continue to have daily discussions with Maybank, and if you refer to our latest status message (to be published within next couple of hours) -- you'll see that we are close to resolving the matter. We will be issuing a schedule soon on withdrawals.

Apparently IRB has unfreeze Luno's account, they are just dealing with Maybank on solving the withdrawal issues. Source from https://luno.statuspage.io/incidents/lzzrvb1mq51y

Hi David, apologies on the late response. I believe all doubts will be laid to rest once we come up with our detailed statement by 28th March:
https://luno.statuspage.io/incidents/lzzrvb1mq51y
Hi bro, we will be issuing a detailed statement by 28th March. Will be unlikely on Monday, but should be very soon already.
Thanks bro -- we will do our best to deliver.

So how?.. Any 'latest' luno update?

Hi iceman, just wanted to clarify that we do not have access to our online banking account. We are only limited to manual transactions, which are limited by the resources the bank branch can provide us. We acknowledge it's an imperfect and slow solution -- however it's the only one that we can do right now, while we continue to work on alternatives.

We do have every customers bank account and address. The limitation is on how much resources the bank can provide us to manually process all the transactions. Anyhow, we are also working on alternative solutions which should be much faster.

Good idea, for those who want fast withdrawal, issue them cheque and charge the customer.

I think the problem is Luno bank account is not a current account. Can you talk to Maybank to allow you to issue cheques?

Company mana boleh buka savings acc..must be current acc ler..whether luno applied for.cheque book when opened the account ..tu je..n its limited 100 cheque per cheque book..