Buying Crypto with Simplex Through Binance

Just to set the tone, I've purchased cryptocurrency using a debit card with simplex through my binance account a few times in the past and I've had no problems. You get charged ridiculously large fees by binance and/or simplex, however if you're a decent crypto trader and you see an opportunity, and you don't have time to go online into say, an approved brokerage account, and wire money to an exchange where they charge you next to nothing to buy cryptocurrency, you can make any fees you're charged back in a matter of minutes.

I've purchased with them maybe about 15 times in the past with the same debit card I tried using this time through binance, they make you verify your email and that's pretty much it. I'm tier 3 verified on binance where I did the whole KYC song and dance, so I've assumed that was why I could purchase with them so easily. This time they declined my payment and they refused to release the reason why which is their policy. I've done business with Simplex in the past, or I should say I tried to do business with them in the past through Changelly, and me not being a money launderer or Identity thief was puzzled as to why I could never get verified to purchase when I have all the proper documentation to back me up. I'm approved on 9 different crypto exchanges and have 11 bank accounts with different banks in two different countries. So I have the proper documentation to prove online or otherwise who I am. Anyway I sent a bit of a ranting and raving email to them and I thought it sounded critically accurate, so I wanted to share. Email is below. This is me refuting back to support's email stating they did not "charge" my card.

Your company and the banking industry as a whole can word it however they would like. If I don't have access to the funds or whether this particular transaction is classified as a pre-authorization hold or a charge is semantics ultimately. I don't have access to the money now and I don't have the product that I was approved for payment for about 20 times before and even worse I get no explanation as to exactly why. So now, the end-user, which is me, suffers from something called unavailable funds fees, another banking term I think is hilarious.

The problem with this particular transaction and the minutiae behind it, ultimately lies, not with the banking industry and their practices that roamed the Earth with the dinosaurs, but with your company and its verification methods, that's what I'm expressing my frustration at. So please don't insult my intelligence by debating the meanings of what I now consider to be antiquated banking terms like authorizations and their hidden meanings. The money's gone for today and tomorrow and the foreseeable future until it's back in the account so it was charged.

I don't have access to the funds therefore I will suffer fees from Banks and PayPal and all sorts of other individuals for not paying on time. And again these are problems I now have to deal with, not your company not binance. This is why people like myself harbor their money in cryptocurrency to begin with, to remove the middleman and now I'm getting middleman'd upon the middleman here... cryptocurrency has now turned into a new banking system, just with new middlemen. You're already taking a skim off the top as is binance I'm sure. I was a paying customer before, who was verified before, so in essence wouldn't that make every single verification that was approved prior to this current one in question null and void? Maybe I should just go back and say that those that those charges weren't mine and I can get money back, but that would make me a scumbag so I wouldn't do that.

Going forward it might be prudent of your people to verify and then authorize because obviously this is a verification issue, however the capitalistic nature of our world would dictate otherwise.... let's get the money first and then verify, we'll worry about disputes when the dust clears.

I don't know if my verification on this particular instance is hazy because I used a virtual private Network or what the story is here but the fact that you can't explain to me exactly why I'm not able to be approved is yet another weird nuance of this entire industry. It's all my own personal information that I've provided to you and to binance, yet you can't tell me, the person who is the center of the transaction, why you're not authorizing this particular payment. Jesus himself could come down and try to explain this particular process to me, and it would still make no sense in world, especially when I've been verified numerous times before. It is unacceptable to me as a customer and will most likely be reflected in my choice of service providers in the future.

So yeah I took the high road and decided not to stoop to threatening physical violence or anything like that. I guess I feel good about that, but I got nothing else from this, other than I won't be using Simplex ever again.

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#contest #thundercurator

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