From today, Malaysian customers can make MYR deposits and withdrawals and make use of all our services, such as buying, selling, trading, sending and receiving Bitcoin.
Late last year, our Malaysian bank account was suddenly withdrawn, leaving our customers unable to process ringgit deposits and withdrawals to and from their Luno account. Despite non-stop campaigning, we simply couldn’t get that account reactivated. We kept a log of the incident here.
After months of meetings, integration and testing, we are delighted to announce that we have a new bank account and all services are up and running again.
Important things to note:
- We have a new bank account, so you need to update your records. Please go to your Accounts > Deposit section to get the details.
- If you make an IBFT payment to us, you must include your unique reference number under "Other payment details” on your online banking platform.
- If you make a GIRO payment to us, the unique reference number must be included under the “Reference/note” section of your online banking platform.
- We have a revised MYR withdrawal schedule and initially there will be some withdrawal delays. Please note the cut-off and release times.
Volume-based trading fee discounts
From today, 1 March 2017, we are also adding volume-based discounts for Malaysian customers who trade on the Luno Exchange.
If you’re a trader and you traded more than 10 BTC in the last 30 days, a reduced trading fee will be applied on your account from the next day. Another discount will apply the day after you’ve traded more than 100 BTC (in a 30 day period).
Send and receive fees
With the drastic increase in Bitcoin network fees, we will be charging a small fee --0.0002 BTC-- for all Bitcoin sends and receives to and from your Luno wallet.
Note that if you want to send Bitcoin to someone instantly (so no Bitcoin network delays) and at no charge (so no Bitcoin network fees) you should send it to their email address from the Luno wallet.
From all of us at Luno, we’d like to sincerely thank everyone in the Malaysian Bitcoin community for their support and patience during this frustrating time.
If you have any questions or want to ask us a question, please visit the Luno Help Centre.
To the moon!