If you’re a Luno customer in Malaysia, and you requested a withdrawal, it could fail for a number of reasons. We’ve outlined the possible reasons why it could fail, as well as ways for you to fix it.
Incorrect bank account number, or a frozen/closed/dormant account
It’s possible that the bank account you linked at Luno is either incorrect, or the account is frozen, closed or dormant. If you suspect that’s the case, we’d suggest deleting your linked bank account, and adding a new one.
To fix this, sign in to your Luno account and follow these steps:
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Select your MYR wallet, and then WITHDRAW
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On the Android app or on the web, select the three small dots
to the right of your previously linked bank account, and then Delete. On the iOS app, swipe right to left to delete
-
Once deleted, select
Add a new bank account
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Follow the on-screen prompts to add your new bank account
IC number mismatch
If you suspect you may have entered the incorrect IC number when signing up for your Luno account, please send us a message with a colour scan or detailed colour photo of the front of your MyKad Malaysian identity card. Let us know in the description that you’d like us to update your IC number.
Passport number mismatch
If your passport has expired, or if you suspect you may have entered the incorrect passport number when signing up for your Luno account, please send us a message with a colour scan or detailed colour photo of the personal details page of your latest passport. Let us know in the description that you’d like us to update your passport number.
If your passport number is correct, your bank account could be linked to an outdated or incorrect passport number. We’d suggest that you reach out to your bank to sort it out for you.
Third-party withdrawals
If you attempted to withdraw funds to a bank account that’s not in your own personal name, it’s not permitted. This is outlined in Luno’s Terms of Use. The name you enter in your beneficiary details must match the name you signed up with at Luno (according to your identity document) and the bank account holder’s name.
If that’s the case, delete the linked bank account and add a new one.
Here's how
Sign in to your Luno account and follow these steps:
-
Select your MYR wallet, and then WITHDRAW
-
On the Android app or on the web, select the three small dots
to the right of your previously linked bank account, and then Delete. On the iOS app, swipe right to left to delete
-
Once deleted, select
Add a new bank account
-
Follow the on-screen prompts to add your new bank account