Useless for non-US residents unless they want to send really big money
Venstar invites residents of various countries to register. However, they require certified copies of identification documents, and these are difficult and/or expensive to get outside the US. (In the US, I would go to my bank and get it for free and quickly.) Just wasted time spent on applying. Added after Venstar response: Venstar did not understand my complaint. I did not complain for Venstar following the laws. Rather, I complained for having to go thru the application process in vain. (I checked the first page of the application and it did not indicate anything about certification.) Also, Venstar claimed that I complained that I find this requirement tedious; rather, I found it impractical for me to achieve. Venstar explained: "Certification of documents is only required for documents originating from those countries where we are currently not able to electronically verify identities... Countries and regions where certification is not required are: ... United States." Venstar required certification of my US passport and of the statement from my US bank, contrary to this explanation. Venstar indicated: "This requirement and the exempt countries are clearly stated in our registration form which you submitted." I reviewed the registration form I received from Venstar, which requested the documents, and it did not mention anything about the certification. I find that Venstar's response can only cause me to downgrade my review, rather than upgrade as they requested.
By Baruch Y.
Response from Venstar Exchange· Nov 11, 2021
Dear Baruch Youssin, We appreciate your suggestion that we move to the start of our registration form the legal requirement to have certain supporting documents certified if they are not issued by the countries listed below*. This only affects less than 1% of our clients, but they are as important to us as all the others. We have therefore discussed this with our team and already implemented the change. Thank you. Given that you have not had the opportunity to use our service we feel that the 1 star is rather harsh, based as it was only on the location of these requirements on our registration form and not an experience of our services (and savings over bank rates). If you are willing to re-consider your 1-star review that would be appreciated. If there is anything we may do to be of assistance in the future we sincerely hope to make it up to you. * Countries and regions where certification is NOT required: the EU, Australia, Canada, Iceland, Japan, Liechtenstein, New Zealand, Norway, Singapore, Switzerland, United Kingdom, and the United States. Sincerely, Axel Sturmann Venstar Exchange