Money transfer, virtual currency, or money service -- Other transaction problem -- Complaint #4645690
Complaint Overview
Complaint ID: 4645690
Company: Bam Management US Holdings INC.
Product: Money transfer, virtual currency, or money service
Sub-Product: Virtual currency
Issue: Other transaction problem
State: California
ZIP Code: 90006
Date Received: 2021-08-19T12:00:00-05:00
Date Sent to Company: 2021-08-19T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I first used Binance in XXXX or XXXX. The laws, rules, and regulations surrounding cryptocurrency have been constantly changing, and it is constantly small people like me that are feeling cheated out of these markets. I have little money, and I wonder if Binance is holding less valuable accounts longer in verification for when it may be useful to have buying cryptocurrency surge. I can verify clearly with Binance account history that I was keeping a 'bag ' of primarily ADA , BNB , and BTC in XXXX. I spent a lot of time researching to determine which cryptocurrencies had profitable futures. After the midterm elections, I did not expect massive movement until the upcoming XXXX election. At this time Binance had a US website and made me re-register. I do not have any kind of impressive bank balance or credit. It took literally months to be reregistered. I tried to get my account set up on XX/XX/XXXX. Between XX/XX/XXXX I have over 20 emails between me and Binance trying to get my account verified, and to have a bank account attached, and to this day I still do not have a bank account attached. It is a standard XXXX XXXX XXXX account and is on their auto list. I tried the automated method, the manual method, and have emailed Binance. I had literally a paltry {$1000.00} to invest on XX/XX/XXXX. XXXX at the time was XXXX cents/ coin. Now XXXX is XXXX dollars/coin, an almost XXXX increase. I have entirely missed that and attempted over 20 times to set my account up. These companies are all supposedly regulated in the US now, how can a company justify taking private information, social security numbers, bank account numbers, balances, access, and then not even respond or set accounts up for months? As a consumer, am I expected to give this vital information to ten or twenty different online 'reputable ' brokerages and throw the dice and hope none of them abuse it? You can not trust any of these companies that take this kind of information with no immediate result, and you can't trust the CFPB if they turn a blind eye to this kind of behaviour.
Frequently Asked Questions
What is Complaint #4645690 about?
Complaint #4645690 was filed against Bam Management US Holdings INC. regarding Money transfer, virtual currency, or money service specifically about Other transaction problem. It was received by the CFPB on 2021-08-19T12:00:00-05:00.
How did Bam Management US Holdings INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Money transfer, virtual currency, or money service) and describe your issue in detail.
Can I see other complaints against Bam Management US Holdings INC.?
Yes, visit the Bam Management US Holdings INC. company profile at readthecomplaint.com/company/bam-management-us-holdings-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.