Dukascopy refuse to accept my transfer of money

I have an account with Dukascopy SA.
I have recently transferred some amount into my existing account

They have deposited the amount but however they have blocked my account to prevent any further deposit.
Saying that i need to clarify the following :-

1)Please clarify fortune and annual income figures of the client.
2)Explain any changes vis a vis those provided at account opening
3)Provide evidence of income
4) Client need to clarify he understood the risks of FX trading and specifically that he should not invest what he cannot afford to lose.

The regulatory department have decided to accept the pending deposit as it does not exceed the limit significantly.

Saying any further deposits will be rejected unless client is able to justify changes in financial situation with evidence .

I had told them i'm currently unemployed for a year. and the bank statement i provided does not demonstrate income as stated by them.

I intended to further deposit some money from my savings & savings insurance that is going to mature soon.

What should I do? What are kind of information are they looking for ?

Does anyone have any idea?

Big banks are like that especially LPs. I have an account with dukascopy as well. Everything is strict.

I'm investing a big amount for my friend. Trying to merge that amount into mine, unfortunately no. Because I have to provide proof showing the source of the income. And also, I will have to provide proof showing that I have the capability to make that kind of money too. Otherwise, rejected. Account Closed. They are trying to prevent money laundry which is reasonable.

So the solution I think will be the corporate account for this case. and some kind of agreement needs to be provided if I am trading other people's money. I believe this will be the process. Will let you know.

When you signed wiht Dukas, there should be an account manager that can deal with all the questions and concerns that you have. Try email him/her and figure out. Good luck.

@kofmaster, how was this issue resolved for you?
I'm facing same just yesterday

Had same issue twice before, my Quarterly limits are at 4k usd, i exceeded by double the amount in each deposit
they wanted proof of income, it's logical procedure

i have resolved that by providing income documents, and also make sure you are depositing to MT4 account not MCA

i am wondering however if my deposit is below limits will it be subject to income verification?

Hey everyone,

I wanted to share a frustrating experience in case anyone else has dealt with this.

I initiated a blockchain-based transfer to my account at Dukascopy Bank SA over two weeks ago. The transfer is confirmed on-chain, and I’ve provided all requested documentation. Despite this, the funds are still being held, and I keep getting vague or generic replies from their support.

For a bank that prides itself on being crypto-friendly and regulated by FINMA, this level of delay and lack of transparency is really disappointing. They claim blockchain transfers are manually processed and only during business hours in Geneva, but that doesn’t justify a two-week+ hold.

Has anyone else dealt with similar issues at Dukascopy? Any advice or success stories on getting your funds released?

I’m considering filing a formal complaint with FINMA if this doesn’t resolve soon. Just wanted to get this out there and see if others have had better luck.

Thanks in advance!

I believe you have a bigger problem. Regarding that, I found the following on Dukascopy Website:
“To obtain the return of crypto funds placed in quarantine, the client must provide Dukascopy with convincing evidences, based on the possible solutions provided by Dukascopy, that the wallet from which the funds were sent do actually belong to him/her.!