Consumer complaint received 2021-05-12
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Money was not available when promised — 
Company: BAM Management US Holdings Inc. (WV)

Hello, I have several issues trying to get in contact with support for Binance US since XXXX. I understand the company is busy at this time due to high influx of new users and the movement of the cryptocurrency space. The reason I opened an account was due to a long time friend having been a customer for so long and had a great experience, which hes shocked to hear of my misfortunate experience with them. I opened an account around XX/XX/XXXX or XXXX here in XXXX and everything was fine and set up within a day or two, including their advanced account verification for money transfers through their partner, XXXX. I have also attempted a BBB complaint but company hasn't responded to that after just shy of a month long wait. 

On Sunday, XX/XX/XXXX, was when the trouble started. There were old crypto coins ( Dogecoins ) I had from years ago in a digital wallet. I transferred a small amount first as a test to verify they came through, which they did. I transferred an additional XXXX coins after that and nothing ever showed up after hours, versus the XXXX minutes it took for my test transfer. I entered a support case with all of the information required in the form, such as wallet info, transaction number, when it happened, and additional details. The ticket requested if there was a way to sync the wallet to catch up to the transfer. The first response I received was on XX/XX/XXXX with what appeared to be a standard response. ( This appears to be true due to many other users on XXXX claiming it is the exact message they received after weeks of waiting for support. ) It said, Hello XXXX, We are terribly sorry for the delay in our response! Currently, we are working to resolve a high volume of inquiries, and we noticed you had not yet received a reply. If you still need assistance or have any questions, please let us know and well get back to you here ASAP! Thank you! To which I replied XXXX hours later by saying : Hello! I opened a new account and have been verified, no problem. I sent some XXXX from an old wallet as a test and it worked within 15 minutes. I sent another XXXX coins to my XXXX wallet on Binance US ( XXXX ) and it never showed up. I've verified it was the correct wallet address on my account and the XXXX transaction ( XXXX ) history/details confirm it's still not yet redeemed ( https : XXXX ). During the time I did the transactions there were reports Binance XXXX was down and deposits weren't coming through and figured that's what happened to me. Is there a way, as a user, to basically force the wallet to do a sync/update/recheck for transactions? I appreciate the time! After 9 days had passed without a response, I followed up since their email said theyd get back ASAP. On XX/XX/XXXX I replied to the email chain, Hello, I wanted to see if there was an update on forcing a sync on my Dogecoin wallet so that the coins I sent a month ago show up in my balance? Thanks! <Signed Name> and never have received a response to that ticket as of today, XXXX 


On XX/XX/XXXX, I took a chance and transferred more Dogecoins ( approximately another XXXX coins ) to my account at Binance US. That transfer was successful that day. After some deliberation, I decided to sell XXXX of my cryptocurrency ( XXXX ) for USD on XX/XX/XXXX. After that, I placed a wire transfer to withdraw some of my USD balance from Binance US to my XXXX XXXX account in the amount of {$5900.00}, {$5900.00} after fees. The transaction showed successful but I never received the funds in my XXXX XXXX account. After talking with XXXX XXXX, they said the account information was inaccurate because the way wire transfers work with them is to wire to their account with XXXX XXXX with my name in the wire information so that it is credited to my account. They said to contact my sending bank XXXX Binance US ) to get it corrected. I knew this probably wouldnt happen, so I tried contacting XXXX XXXX first. They said since I didnt have an account with them to please talk to my sending bank to do an amendment because they couldnt give me information and most likely it wouldve been rejected for an invalid account. According to the FAQs on Binance US, rejected wires should be credited within a few business days. Reluctantly, I opened a new support ticket with Binance US on XX/XX/XXXX in regards to wire transfer assistance.. ( As of today, XX/XX/XXXX, there has been no correspondence to that ticket. ) In addition, I even attempted entering a ticket with their partner XXXX on XX/XX/XXXX since they handle the banking in hopes they could give me a snippet of information. Hello, I placed a wire transfer last Friday, XX/XX/XXXX, but it didn't come through. I contacted my receiving bank and they said it should've been sent to their account within XXXX XXXX but reference my name for deposit. Is there a way to see if it was rejected then? I received the XXXX XXXX confirmation email which I used the link for. Email confirmations show the following : Account : BAM-Linked Account-<NAME> Date : XX/XX/XXXX Amount of wire : {$5900.00} Conformation email link : XXXX : XXXX XXXX number : XXXX. Let me know if you need any other info. I appreciate the assistance! XXXX replied after weeks and said to contact BinanceUS. 

At this point, I have not received any support for a case from the beginning of XXXX and now the beginning of XXXX support case either. The XXXX transaction lookup doesnt even show the status and acts as if it was invalid, evidently Im now out all of those coins ( pretty sickening due to the value lately ). On top of that, Im missing almost {$6000.00} USD in a wire transfer that shouldve been rejected or been able to be amended to be routed correctly based on information from the receiving bank ( s ). As a last ditch effort, I am attempting to get assistance by filing a CFPB complaint since it appears that the vast majority of Binance US customers are not receiving any support. 

Thanks