Why was my bank transfer frozen?

According to Evest’s official instructions and rules, bank transfers may be frozen or placed on hold for several key reasons related to security and compliance with financial regulations:

1. Incomplete account verification

Evest follows strict account verification policies. If your trading account is not fully verified by uploading and updating the required proof of identity, such as a passport or national ID, and proof of residence documents, any bank withdrawal or deposit may be automatically frozen until the verification process is completed.

2. Anti-Money Laundering (AML) policy and name matching

The platform applies strict international standards to protect funds.

Name matching: The name on the bank transfer must exactly match the name of the account holder registered with Evest. Third-party transfers are strictly prohibited. If funds are sent from a bank account under another person’s name, the transfer will be frozen immediately.

3. Additional security reviews by payment providers

In some cases, the finance department, payment service providers, or the intermediary bank used by Evest may carry out an additional routine security check on incoming or outgoing transactions to verify the source of funds. This may result in the transfer being temporarily placed on hold.

What you should do now, according to Evest:

1. Check your verification status: Log in to your account settings on the platform and make sure all your documents are accepted, up to date, and marked as “Completed” or “Approved.”
2. Contact Evest support: Ask them to provide a tracking number if the withdrawal was made by card, or a transfer receipt if the withdrawal was made by bank transfer, so the transaction can be followed accurately. You may also request a document explaining the reason for the hold, so you can submit it to your local bank if the funds are being held on the bank’s side.