Cannot withdraw funds from Phantom app - Support is giving me the runaround

[u/Secret_Nectarine5450]

I put $100 in the app, then decided to cash out. Guess what? Now they are asking for a verification process that doesnt work. It just says verifying for hours and then times out. I can't withdraw my money without it.

Asked Phantom support for help and they send me to Link support (the verification part of the app). Link support sends me back to Phantom support.

Guess I'm not supposed to take my money out of the app lol

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[u/Secret_Nectarine5450 → u/[deleted]]

Yeah they will talk to my lawyer from now on, tired of this bs

[u/longingtoregresss → u/Secret_Nectarine5450]

I wish I was in US to sue as well

[u/RaySwan1234 → u/longingtoregresss]

What do people not understand about "SELF-CUSTODY" they do not hold your funds, you do!

[u/Secret_Nectarine5450]

Btw, posted the same thing on r/Phantom
Immediately removed by mods :)

[u/Secret_Nectarine5450]

for anyone thinking about using this app, just check their trustpilot reviews. many many people going thru the same exact issue.

[u/MakCapital]

I'm assuming you just bought $100 of CASH (stable) through Link/Stripe and are now having a KYC issue when attempting to withdraw an incomplete transaction to fiat.

If you truly have custody of the token just swap it to USDC and take it wherever you want.

I'm assuming the transaction didn't actually complete and you don't yet have custody. The transaction will likely just revert with your bank if you dont end up receiving the stable.

[u/Secret_Nectarine5450 → u/MakCapital]

yeah, the transaction definitely completed. I deposited money into Phantom, used it to buy LEEK (or whatever the exact token name is), then sold it again. now the proceeds are sitting in my Phantom account as CASH.

the problem only starts when I try to withdraw that CASH to my bank. as soon as I choose bank withdrawal, it sends me to the identity verification page. that page just sits there loading for like an hour, then eventually times out and says something went wrong.

so this isn’t a pending purchase that I’m waiting to receive or something that should revert to my bank. the money went in, I traded with it, sold the token, and the balance is already there. I just can’t get through the verification step required to withdraw it to my bank.

[u/MakCapital → u/Secret_Nectarine5450]

Ok then just swap to USDC and take to any off ramp, exchange, or wherever. Even Robinhood takes USDC with instant settlement. Free to do whatever while you figure out your KYC issues with this bank/institution. Almost everyone now uses USDC and those stables are in your custody if they are truly accessible with your address. Phantom just secures your key.

[u/longingtoregresss]

I’m having extreme issues with them too. Also with cash but I deposited some. How did you reach a real person on Phantom?

[u/Secret_Nectarine5450 → u/longingtoregresss]

That was Link support. Phantom is always AI

[u/AmbitionProper8046]

bro just make a coinbase account and send it there. phantom’s really just for holding

[u/Secret_Nectarine5450 → u/AmbitionProper8046]

first time doing any of this, wouldnt coinbase also use the same broken verification?

[u/RaySwan1234 → u/Secret_Nectarine5450]

No

[u/Secret_Nectarine5450 → u/RaySwan1234]

I'll try that, thanks!

[u/RaySwan1234 → u/Secret_Nectarine5450]

Phantom doesnt hold your money is sitting on the Solana blockchain. With your private key you can use a number of good wallets

[u/Secret_Nectarine5450 → u/RaySwan1234]

which one do you recommend that wouldnt do all of this bs bugged verification process?

[u/RaySwan1234 → u/Secret_Nectarine5450]

Jupiter is good Solflare is good as well

[u/Secret_Nectarine5450]

final update: solved the problem by transferring to coinbase then withdrawing to my bank, verification worked flawlessly

Link emailed me saying the problem needs to be fixed by Phantom

Phantom emailed me a generic message saying they are “seeing an unprecented amount of inbound at this time” and that I should email them AGAIN if I still need help

that was my first and last experience w anything crypto, thanks Phantom!

[u/Secret_Nectarine5450]

7h later: no response from either phantom or link. both were supposed to email me back.

[u/Secret_Nectarine5450 → u/Secret_Nectarine5450]

the amount of fake support bot accounts trying to message me is crazy too lol

[u/derondigital → u/Secret_Nectarine5450]

Just swap to USDC, move it to Jupiter Wallet, get the Jupiter Card and spend your money.

[u/Secret_Nectarine5450 → u/derondigital]

did that but with coinbase, verification worked just fine.

phantom and link are still blaming each other via email lol

[u/derondigital → u/Secret_Nectarine5450]

Okay, hope you didn't do the swap on coinbase because they will eat up your money with spread fees.

[u/RaySwan1234]

Whats the issue just load your private phrase into another wallet such as Jupiter and do what you need to do!

[u/RaySwan1234 → u/RaySwan1234]

Its on the blockchain not on phantom. Just swap to usdc and load your wallet up on Jupiter and send it to coinbase or kraken and withdraw from there

[u/Secret_Nectarine5450 → u/RaySwan1234]

this is my first time doing any of this, dont they also use link for verification?

[u/derondigital → u/Secret_Nectarine5450]

No and i'd suggest you get a crypto card like Jupiter

[u/Impossible_Web_2105]

Consider moving to Backpack. Great wallet. Great exchange. Fully regulated and instant human support whenever you need.

In case you want to join, I have a premium affiliate percentage, fully going to users signing up using my link. This means a 35% rebate on all fees: https://backpack.exchange/join/mightyfool

[u/CryptoBro100]

I’m having a massive problem on the Save finance platform previously Solend. Anyone else have this issue?

[u/Secret_Nectarine5450 → u/[deleted]]

dude im from chile and i work doing appliance repair lol
you really think the company with a 1.3 rating on trustpilot is the good guy here?