Stake - withdrawal delay with verification
Be extremely careful if you plan to keep significant funds on Stake.
My account had already been verified, but as soon as I attempted to withdraw my money, the verification process became endless.
I have complied with every request they made:
* Utility bills for the last 3 months – submitted.
* Proof of payment for every utility bill – submitted.
* Bank statements for the last 3 months – submitted.
* Level 2 selfie verification – completed more than 10 times.
After all of that, they requested payslips, even though my salary payments are already clearly visible on the bank statements they requested and received.
Every time I satisfy one requirement, a new one appears. There is never a clear explanation of why the previous documents are supposedly insufficient. The responses are generic and repetitive, making it impossible to understand what they actually want.
A legitimate KYC process should have a clear end. This one does not.
From my experience, this looks like an endless verification loop that prevents customers from accessing their own money.
I am now preparing formal complaints and legal action because I believe Stake is using repeated KYC requests to unjustifiably delay withdrawals.
I strongly recommend that anyone depositing substantial amounts of money considers this risk carefully before using Stake.
