RESOLVED: Pepperstone Blocks Withdrawals

[LankanFXTrader]

I am from Sri Lanka and I recently transferred my Pepperstone account from Pepperstone Group Limited to Pepperstone Markets Limited as I wanted to trade with high leverage. Before transferring my account I sent an email to Pepperstone support on 23/02/2021 to verify that I will be able to withdraw my funds via Skrill after the transfer. They replied that Skrill should be enabled as a withdrawal method after the transfer. But now, after having transferred my account to Pepperstone Markets Limited, the only withdrawal option they have enabled for me is Bank Transfer. Skrill withdrawals are not available as they promised. This is totally unprofessional behavior. Strangely enough, Skrill is available as a deposit method. If the client can deposit money through Skrill there is no logical reason for them to disable Skrill withdrawals. And also, I have made most of my deposits through Skrill thus they should have no reason to block Skrill withdrawals back to my Skrill account.

The most probable reason they have enabled only Bank Transfer withdrawals to Sri Lankans is that they are aware Sri Lankan Banks block fund transfers to and from Forex Brokers. So by only enabling Bank Transfer withdrawals, they can hold the funds of Sri Lankan clients without allowing them to withdraw.

 

[LankanFXTrader]

So far I have deposited a total of 744.50 USD, of which 660.57 USD are Skrill deposits. Why can't they just allow the clients to withdraw funds via the methods used to deposit?

 

[FxMaster]

I am from Sri Lanka and I recently transferred my Pepperstone account from Pepperstone Group Limited to Pepperstone Markets Limited as I wanted to trade with high leverage. Before transferring my account I sent an email to Pepperstone support on 23/02/2021 to verify that I will be able to withdraw my funds via Skrill after the transfer. They replied that Skrill should be enabled as a withdrawal method after the transfer. But now, after having transferred my account to Pepperstone Markets Limited, the only withdrawal option they have enabled for me is Bank Transfer. Skrill withdrawals are not available as they promised. This is totally unprofessional behavior. Strangely enough, Skrill is available as a deposit method. If the client can deposit money through Skrill there is no logical reason for them to disable Skrill withdrawals. And also, I have made most of my deposits through Skrill thus they should have no reason to block Skrill withdrawals back to my Skrill account.

The most probable reason they have enabled only Bank Transfer withdrawals to Sri Lankans is that they are aware Sri Lankan Banks block fund transfers to and from Forex Brokers. So by only enabling Bank Transfer withdrawals, they can hold the funds of Sri Lankan clients without allowing them to withdraw.

Let's start with adding your story as a review https://www.forexpeacearmy.com/forex-reviews/7523/pepperstone.com and then follow the below suggestions.

First of all, invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread " Tutorial: How to Invite a company to your thread. " Will help you to find out.

Note: The invitation button will be enabled when your first post reaches 4 days old.
Note 2: Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.
Note 3: Make sure to follow the suggestions correctly, when you do it correctly you will get the below message in your thread automatically.

 

[Trader09]

Have you contacted their support to report this?
What did they say?

 

[LankanFXTrader]

Have you contacted their support to report this?
What did they say?

I didn't contact them but I am going to invite them into this thread.

 

[Trader09]

I didn't contact them but I am going to invite them into this thread.

Shouldn't you jump to the live chat (if it exists) or email their support to talk with them first and present everything?
Perhaps they could fix this for you. After all, it's not your fault.

 

[RahmanSL]

Shouldn't you jump to the live chat (if it exists) or email their support to talk with them first and present everything?
Perhaps they could fix this for you. After all, it's not your fault.

That's the obvious thing to do by contacting their Support unit to sort out the problem instead of posting the problem here at the FPA.

 

[Odesa]

Let's start with adding your story as a review https://www.forexpeacearmy.com/forex-reviews/7523/pepperstone.com and then follow the below suggestions.

First of all, invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread " Tutorial: How to Invite a company to your thread. " Will help you to find out.

Note: The invitation button will be enabled when your first post reaches 4 days old.
Note 2: Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.
Note 3: Make sure to follow the suggestions correctly, when you do it correctly you will get the below message in your thread automatically.

You should coordinate with your company to this in order to get the right answer.

 

[FxMaster]

I didn't contact them but I am going to invite them into this thread.

First, contact the company regarding your issue mate.

 

[LankanFXTrader]

I decided to open this thread instead of contacting them as they gave me false information in their reply email by saying that Skrill withdrawals are possible after account migration. If they told me that Skrill withdrawals are not possible after account migration I would not open this thread.

Here are the screenshots of the Deposit and Withdrawal sections of Pepperstone Secure Client Area. Four deposit options including Skrill are available. But Bank Transfer is the only withdrawal option.