I thought I'd post about this here to see if anyone else has had this issue.
I signed up to Binance.com and provided all the identification I needed, name, drivers license, photo id, and picture. I have a green tick next to "Advanced Verification". I added my bank account under the "P2P" and “Withdraw” pages.
I went to make a bank deposit in Binance and received the error, "Your account is currently under review. Please try again after your verification has been approved". Apparently according to support this is only supposed to take 2-3 hours. However for me it never changed until I put in numerous support requests.
A few hours later I got not 1, but 4 emails saying "High Risk Account Request Declined": "We're sorry to inform you that your request to increase the limit has been declined due to the high risk of your account: Based on our Terms of Service and internal policy, this payment method is currently not available to you. We deeply apologize for any inconvenience caused."
Support wouldn't tell me why, or give me any information. They led me to believe it was automated and suggested I close my account and try to open a new one. Apparently once a high risk rating is met it cannot be undone. They gave me a link to close my account. The Binance T&C say you can only have one account at once.
So I did just that. Closed my account, and opened a new one. My original email was now banned, so I had to create an alias at my domain.
The verification process took ages, and after chasing it up, they sent me 8 emails in the space of 2 minutes -
"We're sorry to inform you that this payment method is currently not available to you, but you can still use our other services on .com. We sincerely apologize for any inconvenience caused."
The 9th email I received said:
Personal Verification Unsuccessful
We're sorry to inform you that your Personal Verification has been declined for the following reason(s):
I'm confused as to why I am not being permitted to buy any cryptocurrency from Binance.com. I wanted to do so with 0% fees, the third party options (BPay, etc) there have fees for purchases. I'm located in Australia and wanted to deal with Binance directly.
I am confused as to why I am being refused, when I have never breached any of the terms and conditions. I am a new customer and I believe this is an error. I am unable to get a proper response from Customer Support.
With the first account that was approved, but I got the other error about high risk. When I go to the Bank Deposit page, it gives me another opportunity to complete Identity Verification. That seems to be to increase the limit to 10000/day AUD. I was never planning on purchasing that much in one day, so that makes me question if I actually need Advanced Verification. It won't let me even add a card without doing it however.
I just had another look at my driver's license and it looks like it has expired this week. I better re-new that, and try again.