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 Luno Malaysia, Your experience, reviews, thoughts

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wongtheboy92
post Dec 21 2017, 01:51 PM

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QUOTE(3822 @ Dec 21 2017, 01:26 PM)
I have around rm10k in luNo, hope.luno can settle their withdrawal problem soon
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Heard lots of users have such problems. Mind to explain more? Is it the withdrawal waiting time too long?
wongtheboy92
post Jan 11 2021, 12:13 PM

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QUOTE(luna121245 @ Jan 11 2021, 10:46 AM)
Refer to picture below, does it mean there are 3 cut-off time in a day, and if I request withdrawal before 10AM, I can expect to see withdrawal amount in my bank account around 11AM?
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Usually if I withdraw in morning, I will get the amount reflected on my bank account during evening 6pm something. I don't think it will be that quick. I always withdraw to Maybank.
wongtheboy92
post Jan 11 2021, 12:58 PM

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QUOTE(luna121245 @ Jan 11 2021, 12:29 PM)
Thanks for your feedback, then I wonder what is the cut off time for hmm.gif

Anyway I just requested a withdrawal yesterday, will see what time today I will receive the fund
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Withdrawals take up to 24 hours (on business days), usually if you follow all the steps and withdraw before 3:45 PM, you'll receive your money by 11 PM the same night (on business days, public holidays excluded). This message is from Luno support assistant which I have asked before. I hope it helps and hope you will see your credited amount in your bank account soon!
wongtheboy92
post Jan 11 2021, 01:58 PM

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QUOTE(luna121245 @ Jan 11 2021, 01:33 PM)
11PM  hmm.gif I was expecting by 5-6PM
I see, thanks for the info
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That is just their information. But I usually see it appear on my bank account around 6 something. No worry. Check your bank account later in the evening.
wongtheboy92
post Jan 12 2021, 02:36 AM

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QUOTE(luna121245 @ Jan 11 2021, 06:41 PM)
Same here. [email=mrluno]mrluno[/email] mind to check?
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Have u got your fund in your local bank account?
wongtheboy92
post Jan 13 2021, 12:20 AM

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QUOTE(luna121245 @ Jan 12 2021, 04:43 PM)
Yup, took 1 working days from withdrawal to get it
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a bit slow, u cash out before 3.45pm the day before? what bank did u withdraw to, Maybank?
wongtheboy92
post Jun 3 2021, 08:07 PM

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QUOTE(rpg @ Jun 3 2021, 10:04 AM)
I did try with luno last time. Rm40k overall banked in 3 days. But now is higher amount, so i don't want unnecessary attention from tax. Not sure if crypto even taxable.
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Quite a large sum of money. Did bank or LHDN check on your 40k transaction? I heard that if any large transaction withdrawn to local bank will get flagged. And they may come for you. Unsure how we should deal if face with such issue in future.
wongtheboy92
post Jun 3 2021, 09:48 PM

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QUOTE(soul78 @ Jun 3 2021, 09:29 PM)
The only best source on how to tackle TAX for crypto is in the article below. I would suggest everyone to go through it if they have any doubts.

In summary, if you don't trade as a form of generating income but rather than showing and providing proof that you're investing. Should should be fine and not subjected to tax.

https://www.theedgemarkets.com/article/thew...-need-pay-taxes

"“If a person is just investing on the side as a hobby, then it’s fine. But if the frequency of transactions is high, that can become an issue. Some people borrow money to invest and this can be flagged [by the tax authorities as an intent to profit] as well, since they will need to pay back the loan,” says Chong Mun Yew, executive director at Crowe KL Tax Sdn Bhd."

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This is a good article. Thanks, mate.
wongtheboy92
post Jul 7 2021, 08:07 PM

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QUOTE(carnby77 @ Jul 7 2021, 06:42 PM)
How long to get my money in the bank after withdraw?
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Withdraw before 3pm on weekdays (preferably morning), usually I get my money after 6pm something or 7pm.
wongtheboy92
post Jul 9 2021, 05:58 PM

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QUOTE(carnby77 @ Jul 7 2021, 08:28 PM)
It just says withdrawal sent to bla bla bank. Tranafered today 12:37 am. Vhecked bank still no money...
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do u get it by end of the night? 11 something there should reflect your transferred amount

 

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