Cryptocurrency Exchange
Transak USAThis business is NOT BBB Accredited.
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Complaint Details
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Initial Complaint
02/06/2025
- Complaint Type:
- Product Issues
- Status:
- Resolved
Hello i purchased SOL on Trustwallet using Transak Then i accidentally sent my SOL back to Transak by mistake :(My solana trustwallet address Address - CdEfqLkxm8DTTWLpp8q1GLZymHx1yG11QXrE3jYxt2hB Destination - 8Mir4H1ToobGxZEbvPTUEX7rHup5M3Rvp7gLQBFUSqeg Signature Hash - 53cUg5DcKLQRYLcDQXTq1cXQFZb99mMm1w5KKiVBPyeE1q4htVQxYkki9qrTwjFnxCGxjC9Rs9vuS81ppYThS9Xv I contacted ******* ******* Admin of their Telegram channel about this problem and he Instructed me to email ********************************** I then recieved an automatic email from Transak Support re-directing me to the support website an open a chat or open a ticket there.On the support website there is not an option for live chat or an option to open a support ticket.I contacted ******* ******* again the Spokesperson for the official Telegram channel and have not received a reply about this issue......So because of this circle of no customer support i have been forced to bring the issue here and file an appeal.I have included photo evidence to support all of these claims.If we are not able to solve this issue then im going to have to keep moving forward and contact the The ***'s Bureau of Consumer Protection I would like to avoid moving this forward with them so i would be very grateful if we are able to fix this here and not have to escalate it furtherBusiness response
02/06/2025
Hi *****,
I'm sorry for not getting back to you sooner. Hope you are doing well!
I understand your concern regarding the accidental crypto transfer.
Please note that Transak facilitates transactions across multiple blockchains, and the crypto you sent was directed to one of our blockchain providers addresses, not directly to Transak.
However, as a valued customer, I have escalated your concern to the relevant blockchain provider. They are currently working to locate the crypto, and depending on their process, they will either return it directly to you or transfer it to us so we can credit it back to your account.
Allow us ***** hours to look into this and give you an update.
Let me know if you have any questions in the meantime, as we are already connected on your email.Customer response
02/11/2025
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
***** *****Initial Complaint
01/15/2025
- Complaint Type:
- Product Issues
- Status:
- Answered
Company Name: Transak USA LLC Address: ********************************************************************************** Website: ********************************** Email: ********************************** POCs: ***** ***** ********************************** Chief Operating Officer **** ***** ,**** Start <*********************************************************>,**** **** <**************************************************************>Description I am filing this complaint to report unreasonable repayment demands by Transak USA LLC. a. Overview:On Fri, Dec 20 2024 I used Transaks platform to purchase $400 of cryptocurrency (NEIRO). Due to an operational error on their part, I mistakenly received $17600 of a different cryptocurrency (NEIRO - Ethereum). b. Theft of Funds: The tokens mistakenly transferred to my wallet were stolen due to a hacking incident.c. Demands for Repayment: Transak demands repayment of $17,600. They are willing to return the 400 dollars and provide 2000 dollars as goodwill. Transak continues to pressure me for the remaining balance of *****. 2. Why This is a Concern a. The repayment demand does not consider the theft of funds, which was beyond my control. b. The operational error is caused by Transak hence they should take responsibility.c. ******************** have caused significant stress, impacting my daily life and well-being. d. The lack of resolution demonstrates inadequate consumer protection policies, especially for situations arising from their own operational errors.3. Resolution Sought I am requesting the *** to: Investigate Transaks business practices and ensure Transak adopts fair and transparent policies for resolving disputes with customers. Mediate the resolution of this matter. I would like the ******* dollars and the 400 dollars I had paid on Dec 20th and the goodwill amount of 2000 dollars which they've promised.Please let me know if further information is required to proceed with the investigation. I can be reached at ********** or ********************** Thank you for your attention to this matter. Sincerely, ********* ******Business response
01/24/2025
Dear Siddharth,
Thank you for reaching out and bringing your concerns to our ************ with any financial institution, our terms of service explicitly prohibit customers from retaining proceeds resulting from clear and obvious transaction errors. Please rest assured that we take such matters seriously and are committed to resolving this ************ your communications with Transak, you mentioned that your wallet had been hacked and that you were unable to take action to recover the stolen funds. These funds were transferred from your wallet used in the transaction for obtaining $*****: 0xeE850b8a46Fe907083CCf1f5fd9566Bb5a1F2B22.You also identified wallet address 0xb45e3662e94EFbda17c2200eCf062E0B437Fe4f2 as a fraudulent entity.
Below is a summary of the correspondence you shared:
Jan 9 3:32 PM: You acknowledged receiving the funds into your wallet but stated they were subsequently stolen by a hacker, sharing an Etherscan link as evidence.
Jan 9 3:37 PM: You identified the wallet address of the alleged fraudulent entity, providing a link for verification.
In order to resolve your concerns, we conducted a review of your account and the wallets you provided.Upon reviewing the activity of your wallet (0xeE850b8a46Fe907083CCf1f5fd9566Bb5a1F2B22), we observed the following:
The transfer of 412.512k ***** to wallet 0xeE850b8a46Fe907083CCf1f5fd9566Bb5a1F2B22 occurred on 20 Dec 2024 at 14:19:23 UTC. This was the purchase of ***** via Transak.
The transfer of 412.512k ***** from wallet 0xeE850b8a46Fe907083CCf1f5fd9566Bb5a1F2B22 to wallet 0xb45e3662e94EFbda17c2200eCf062E0B437Fe4f2 occurred on 20 Dec 2024 at 14:23:35 UTC, approximately 4 minutes after the ***** was received from Transak.
Approximately ***** hours prior to the above transactions occurring at 14:20 UTC:
The purchase/transfer of 3.153M FLOKI tokens into wallet 0xeE850b8a46Fe907083CCf1f5fd9566Bb5a1F2B22 occurred on 20 Dec 2024 11:22:35 UTC
3.153M FLOKI tokens were transferred from your wallet 0xeE850b8a46Fe907083CCf1f5fd9566Bb5a1F2B22 to the the alleged fraudulent wallet (0xb45e3662e94EFbda17c2200eCf062E0B437Fe4f2) on 20 Dec 2024 at 12:01:35 UTC, approximately 2.5 hours before your purchase of ***** via Transak.
Historical data showing minor transactions from your wallet to the alleged fraudulent wallet as far back as 2023:
Transfer of 0.012096728034943 ETH from 0xeE850b8a46Fe907083CCf1f5fd9566Bb5a1F2B22 to the the alleged fraudulent wallet (0xb45e3662e94EFbda17c2200eCf062E0B437Fe4f2 on 26 Sep, 2023 10:23:11 UTC.
Transfer of 0.008910191767108624 ETH from 0xeE850b8a46Fe907083CCf1f5fd9566Bb5a1F2B22 to the the alleged fraudulent wallet (0xb45e3662e94EFbda17c2200eCf062E0B437Fe4f2 on 26 Sep, 2023 09:09:23 UTC
Transfer of 0.007568366783471306 ETH from 0xeE850b8a46Fe907083CCf1f5fd9566Bb5a1F2B22 to the the alleged fraudulent wallet (0xb45e3662e94EFbda17c2200eCf062E0B437Fe4f2 on 26 Sep, 2023 09:07:35 UTC
Transfer of 0.000948772995358 ETH from 0xeE850b8a46Fe907083CCf1f5fd9566Bb5a1F2B22 to the the alleged fraudulent wallet (0xb45e3662e94EFbda17c2200eCf062E0B437Fe4f2 on 12 Sep, 2023 11:28:35 UTC
These patterns suggest a consistent link between your wallet and the alleged fraudulent wallet.We understand the sensitivity of this issue and are continuing to investigate thoroughly. However, we must emphasize that retaining funds obtained through errors or unauthorized activities is not permissible under our terms of service.Should you have further details or additional evidence to share, we encourage you to provide it promptly to assist in our ongoing investigation.
Thank you for your cooperation and ****************** regards,
Transak TeamInitial Complaint
08/05/2024
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Unresolved
This company fraudulently charged my debit card on 8/2/24 for ***** The Transaction Reads:Aug 2 Transak USA Debit Card -$***** Transaction. Date: August 2, 2024. Description: Transak USA . Amount: -$*****.Amount -$***** Merchant Transak USA Terminal location Transak USA, ****************** ID none Date authorized Aug 2, 2024 At no time have I had any interaction with this merchant, made this transaction nor authorized this purchase. In reviewing their website there is no phone number, no contact form, no way to reach out to them regarding any kind of questions or issues.Business response
08/06/2024
Dear ******,
I'm sorry to hear about your experience.
Upon investigation, we couldn't find an active account for you with us. Without an account, placing an order with payment is not possible.
We offer live chat support, and you can reach us at ********************************** with any concerns.
It seems there is a misunderstanding, as we are a payment partner converting **** to crypto and vice versa.
To help us investigate further, please provide your registered email address with Transak, if any, and the last 4 digits of your debit card number to check for any transactions.
We have sent you an email requesting these details. We look forward to your response to assist you further. We're here to help.
Regards,
Team TransakCustomer response
08/07/2024
Complaint: 22083159
I am rejecting this response because: I have responded to the email and the issue has not been resolved.
Sincerely,
***************************Business response
08/12/2024
Dear ******,
I appreciate you writing us back.
We would like to inform you that Transak is not involved in taking your funds directly from your bank and we do not practice it.
We have received your details on our conversation and our team is investigating this further.
We will be with you soon on our findings.
We are always here to provide support with the information we have for an investigation.
Regards,
Team TransakCustomer response
08/20/2024
Complaint: 22083159
I am rejecting this response because: This business DID take the funds from my account. They DO not have security measures in place to safeguard consumers credit card information that does not belong to the person who tried to use the card.
My Bank has issued me a credit for the $100 and considered the matter resolved. However, I want it put on this complaint that they did NOTHING... NOTHING to resolve this. They continued to ask me for the same information they already had in emails I've given them before and refused to take responsibility for this.
I will be sure at every opportunity I have to mention to people what a terrible business this is
Sincerely,
***************************Initial Complaint
04/08/2024
- Complaint Type:
- Product Issues
- Status:
- Answered
A business called Transak, stole $******. I had called PayPal, from the number online. He had me send a copy of my drivers license to resolve the issue I had called about. He had then asked me to take $6000.00 out of my account, I asked again if it was PayPal, he assured me it was. When asked to take money out of my account, I immediately hung up. That was all until 2/13/24, when $ ****** was taken out of my account. I went to the bank and signed something refuting the charge. It was reversed until 3/21/24 when they took the money again and the banks investigation said they had provided the bank with my drivers license. I tried explaining but the banks position was they werent going to try any longer to obtain my stolen money. Transak and I have exchanged 15 emails, me demanding my money back, them saying they cant. I unequivocally did not authorize any such transaction.I am 65 years old on social security only. That money was earmarked for my fathers headstone.Any assistance you can give is greatly appreciated, and I want people to know one of the scammers out there.Business response
05/09/2024
Dear User,
Greetings from ******************** support
We regret to inform you that we encountered difficulty in fully comprehending the details of the issue outlined in your recent complaint. If you did not intend to raise any complaint and this was an error, you can ignore this email, or if you need any help or assistance from us feel free to write us a new email at **********************************
Details like error messages, order IDs, payment details or steps to reproduce the problem would be greatly helpful in diagnosing and resolving the issue.
Currently, we are closing this ticket as no query has been shared, please contact us back and share your query so that we can check and assist you.
We appreciate your patience and cooperation
Thanks and regards,
Team Transak
Image removed by sender.
Regards,
*******
Transak SupportInitial Complaint
03/05/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
I created an account with ******************** and they required me to submit a photo and a copy of my passport, in addition to all my personal information including my social security number. Basically, all the information that one would need to perform identity fraud. After entering all my information and a copy of my passport and selfie, they rejected my application to use their services. Coincidentally, less than 24 hours later I started receiving alerts from my credit monitoring services along with the service that monitors new bank and financial accounts. Less than 48 hours later I received the attached email from Transak stating that they have rejected my application to use their services. Their services are an online payment processing service associated with the purchase of cryptocurrency. I suspect that this shady organization is collecting potential customer information for the purpose of committing identity fraud.Business response
06/20/2024
Hello ****,
Hope you are doing well!
We apologize for the inconvenience.
Unfortunately, your attempt to register with Transak was unsuccessful because your KYC did not meet our internal policies. As a result, your Transak account has been disabled.
We want to assure you that Transak takes your privacy and data security very seriously. We have strict policies in place to ensure that your KYC information is handled with the utmost confidentiality. We do not share any customer details, including KYC information, with any external organizations.
Additionally, Transak does not initiate any payment alerts or share any customer-related information with any organization.
You can also see Transak privacy policies here: *************************************************Thank you for your understanding. If you have any further questions or need assistance, please feel free to contact **********************************.
Thanks and regards,
Team Transak!
Customer response
06/20/2024
Complaint: 21379628
I am rejecting this response because: Cannot determine what the acronyms used in the response mean? What is KYC? Bogus response, why did my credit alerts skyrocket after you had my information? Possible class action is warranted.Sincerely,
*************************Business response
06/21/2024
Hello ****,
I hope this message finds you well.
KYC stands for "Know Your Customer," which is a process of verifying the identity of our clients to comply with legal requirements. Transak guarantees that the information you enter is safe and secure.
We have stringent policies to ensure your KYC information is kept strictly confidential. We do not disclose any customer details, including KYC information, to any external organizations.
If any of your credit reports mention Transak, please provide an image of the statement showing where Transak is listed. We will review it and assist you further.
Thank you for your understanding. If you have any further questions or need assistance, please feel free to contact **********************************.
Thanks and regards,
Team Transak!Initial Complaint
02/28/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
On November 6-2023 Transak hacked my bank account and withdrew $495.00 three times for a total of $1,485.00 without my approval or knowledge. I never heard of the company until that day.Business response
06/20/2024
Dear *****,
I trust this message finds you well. This is a response with respect to your query raised on 2/27/2024 via BBB forum.
We are sorry to hear about the transactions that has occured on your bank. We see that your concern was not addressed in timely manner for which Transak takes a strong feedback for the same however, we see that you had raised a dispute for the transaction and it was settled under your favor dated 7th Feb '24.
Please note that 1485 ( 495*3) USD has been released back under the *** numbers - 24388863308043100490608, 24388863307043020137983, 24388863307043019830911 on your **** card ending with ***1556.
We always educate and encourage our user to keep their credentials private and safe and avoid clicking on any unsolicited links. If you have face any issues or concern please feel free to reach us back on ********************************** for the same. As we are here to support you 24/7 with any queries or concerns.
Regards,
Team TransakInitial Complaint
11/13/2023
- Complaint Type:
- Billing Issues
- Status:
- Answered
ON 10/13 THERE WAS THREE TRANSACTIONS TAKEN OUT OF MY CHECKING ACCOUNT FROM A COMPANY I HAVE NEVER HEARD OF AT ALL . I HAVE CONTACTED MY BANK TROPICAL FINANCIAL CREDIT UNION AS WELL . THIS IS PURE FRAUD ....THEY TOOK $2400 .00 OUT OF MY ACCOUNT . I CALLED THE COMPANY AND THEY SAID THEIR COMPANY SENDS MONEY TO AFRICA AND I EXPLAINED TO THEM WHAT HAPPENED AND THEY SAID I GUESS SOME OF THEIR THEVIES TOO IT AND LAUGHEDCustomer response
12/07/2023
its on my bank statement under 10/13/2023Business response
01/23/2024
Dear ******,
I hope this message finds you well. Thank you for reaching out to us regarding your transaction.In order to assist you more effectively, we kindly request additional information to retrieve the necessary data.
1. Please provide the following details:
**Bank Authorized Code:
**Bank Name:
**Date of transactions:2.Could you please check whether these transactions were conducted using a card? If they were, we kindly request the following details:
** The card's first six and last four digits used in the transactions.
** Tokenize card details (if payment was done through apple pay)
** Date and time of transactions placed.
**The name of the bank associated with the card.
** Any authorized code or reference related to the transactions.
Once we receive this information, we will promptly investigate the transaction and provide you with the relevant details. If you want to reach out to Transak, please contact our 24/7 ************* for any of your further queries, Go to ****************************************** from Menu select "Support" and click on the bottom right chat icon to enter the live chat OR Go to ***************************************************** raise a new query.Thank you for your understanding.
Best regards,Transak Team.
*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩
BBB Rating & Accreditation
This business is not BBB Accredited
Customer Reviews are not used in the calculation of BBB Rating
Customer Complaints Summary
7 total complaints in the last 3 years.
6 complaints closed in the last 12 months.
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