So, I was on the lookout for a crypto friendly bank and Bitwala came up as one of them after some digging and some conversations with colleagues at work. I contacted Bitwala's support in order to get some more information and everything looked in order.
Went ahead and registered an account, went through the identification process which was quite a hurdle since they are not flexible at all when providing documentation (during video-call, you can't upload files or show them on screen, you have to print everything), and after using it for a couple of weeks, I get sent an e-mail stating that my account is blocked temporarily. Without any explanation for this or any actual time frame to this temporary block.
I've been unable to login, since the 1st of July, and as such, unable to do any sort of movements with my money, after going through their KYC/AML process.
Additionally, I've placed myself fully available to provide any information to speed up this process but nothing has been requested.
I've sent e-mails to Support, requesting an update but all they tell me is that their partner bank, SolarisBank, is the one that actually has information.
I've called Bitwala, and was told the same thing.
I've sent e-mails to SolarisBank, and they tell me to place my questions to Bitwala.
Have also called them and again, was redirected to Bitwala.
At this point, I am beginning to doubt the authenticity of this bank and wanted to put my situation out there to warn others and hopefully get some visibility to the situation.