What is going on with First Choice?

[Mfc_anon]

Taken from other forum, statement from caporaso:

Central Bank of Belize doesn’t take action when faced with Choice’s lack of liquidity

The Choice Bank of Belize, after 10 years on the market, is passing through a strong liquidity crisis that has driven it to stop withdrawal of money by its accountholders. The problem is very serious; however, in such a complex context, the Central Bank of Belize’s – which has the objective of regulating the Central American country’s financial system, as well as issuing the nation’s currency – lack of action is astonishing. The Choice Bank’s accountholders are extremely worried about the situation of their assets. The law firm Caporaso & Partners got in contact with the Central Bank of Belize with the objective of receiving an answer to its multiple concerns about the subject; however, this institution offered the following as its single, insufficient answer: “We aren’t allowed, by our statutes, to respond to your specific questions. Direct your specific requests to the Choice Bank.”

To the accountholders, who have trusted said bank, this “answer” seems to be a taunt. All of them had previously contacted the Choice Bank, but it didn’t offer any information, beyond a brief statement where it admitted that “a problem with the prepaid cards” has affected the freeze on the accounts.

In this statement, the Choice Bank admitted that it maintains a positive balance sheet, with retained accumulated earnings of more than 26 million dollars. This information doesn’t seem credible, because otherwise the financial institution wouldn’t have frozen its accountholders’ assets.

The Central Bank of Belize recognizes its mission and objective as ensuring the country’s financial stability and economic growth. In the case of Choice, the Central Bank has done the complete opposite, because by not offering information it has created distrust over Belize’s financial system.

The Choice Bank had obtained an international banking license, Class A, through which it could carry out transactions through its business office in Belize. To maintain the license, it had to have a minimum authorized paid capital of 3,000,000 USD and it’s the responsibility of the Central Bank of Belize that they comply with this. Therefore, if the Choice Bank has problems and the banking authority of the country doesn’t intervene in time, this shows a lack of compliance of its functions

In short, central bank wont help, and choice isnt insured.
Now is the time for my chill pill...

I read this as well but I think we need to carefully parse what is being said before forming any conclusions. While there is ample literature on what the Federal Reserve (US Central Bank) does, I could find very little information on what the Central Bank of Belize is supposed to do. It would be useful to find any examples of the Central Bank of Belize rescuing a Belize bank on the verge of bankruptcy or in financial trouble to determine whether their response to Caporaso is unusual. We already know Belize isn't a first world country and their banking sector is probably like the Wild West compared to first world countries. That being said, while your money is probably a lot less safe, we also shouldn't assume the worse just because they didn't provide a response like a central bank should.

Here is an article from 2016 highlighting the how banks in Belize, including the Central Bank of Belize, are having trouble keeping their CBRs (Correspondent Banking Relationships). CBRs are directly related to a bank's liquidity. For example, Choice Bank does not have the ability to move money from their accounts all over the world without relying on another major bank, likely from the US to act as an intermediary. If major banks in the US have decided to cut their ties with banks in Belize, the banks in Belize will have a hard time moving money around until they can find replacement CBRs. Since this article is from 2016 and the Belize banking sector hasn't collapsed, I'm guessing they have found workarounds. However, I'm certain they are still entirely vulnerable to such things. Of course I have no idea if Choice Bank is facing a similar scenario.

http://amandala.com.bz/news/banks-sever-ties-central-bank-belize-governor-confirms/

 

[robbiej]

3 friends have been rejected trying to verify with paxum after 20 days of waiting... what a cluster fuck.

 

[Pennyless]

Come on man stop it...
Check my quote from today about Offshore Banks in Fiscal Paradise... not even one info from this kind of banks that got in the position of bankruptcy...

This guy Caporasso wants 1000$ from everyone to press the bank with emails... wtf he is speculating this moment and wants 20-30k fast in his pocket...

Wait this month it will be good for us!
Don t panick!!

I think he even asked for 1000 Euros which is quite a bit more than $.

 

[Pennyless]

Actually if this is confirmed, it is very bad for everyone else. We all know all banks do not have enough liquidity to allow everyone to withdraw all their money at once. So if FCP or Choice Bank is allowing some customers, whether they are connected to some higher ups or have some inside track, to withdraw money while others' can't, it means they will have to screw over the ones who didn't get this special treatment. It's better for everyone involved if all funds are frozen or none. If only some of the funds are unfrozen, then the last ones out end up holding the bag, the empty bag. If this is even a possibility, the wait and see approach is probably quite risky.

That's exactly why people shouldn't spread this kind of important information as facts and then crawl back. So it probably only was misinformation...

 

[pallino]

Chaturbate dalay payments? I'?m scare about they try no pay more .... On FORUM VIDEOCHAT and WECAMGIRL all' no receive payments .... Chaturbate support no reply since 3 days...

 

[Pennyless]

What were saying is spreading wrong info does not help.

I agree and this also goes for you when you said that "you know that some models do have access to their funds" and then couldn't back up your statement after we asked you more details about it. It turned out to be a rumour you heard somewhere...
And like others already commented it probably looks like they only have access to the funds on their card balance, just like everyone else.

 

[isitgoneforver]

Honestly, i dont get it. Why all these people defend firstchoicepay so hard in every message and getting annoyed at this thread. And they keep repeating stop spread wrong information. How do you know what is wrong exactly? Do you have some 100% information so you can say what is 100% wrong or correct? That's really becoming strange

We dont know because FCP are not giving ANY INFORMATION, only abstract words and different story every time. They havent released any official public statement. So you cant say it's wrong, you can say its not confirmed. So do you want us to just not spread anything, right?

And after all her(you know who) messages like "dont spread anything wrong and unconfirmed" she drops the HUGE bomb and dont want to comment on it? so consistent, what a joke

All these calm people coming here "stop posting shit blalba it's not a scam i know for a fact blablabla" i'm happy for you.

 

[zumba2]

I asked choice Bank Ltd. Vice-president for a time frame again... This is what I got back via email.

I think it's good news
And official informations

 

[a_haze420]

I asked choice Bank Ltd. Vice-president for a time frame again... This is what I got back via email.

I think it's good news
And official informations

See this is helpful information. This is stuff people should be doing..contacting those higher up in the company. Glad they were able to give at least some what of answer.


Separate comment but the girls I know who accessed their funds did not provide me with like screenshots or tell me how much they had there etc. Hence why I will not say the details I know because its just what someone SAID it had no hard evidence to back it up. Plus I don't need all these people here harassing them about it.

 

[zumba2]

I also recommend everyone in this situation to email akees@choicebankltd.com and ask for informations.

We have to see if they give us same infos, or maybe other updates. Ask for timeframes, possible solutions, updates, etc.

The guy is very responsive, and he's a trusty source of info

 

[asian_massive_squirt]

please reply correct if you want/can
I ask you have give chaturbate your swift and iban? what bank you use? in what city? in what currency?
I speak about mine, FINECO unicredit group italy

I am not in Italy

 

[isitgoneforver]

Maybe we should start a separate thread and gather all information we find, links, contacts of banks, etc in a starting post? Or this forum doesnt allow editing first topic post?

 

[Miaaaa]

I asked choice Bank Ltd. Vice-president for a time frame again... This is what I got back via email.

I think it's good news
And official informations

“We received information from a lot of program managers, which we are analyzing now. After that we will inform program managers what the next steps are to get balances back to the account holder and/or card holder.

 

We are aiming at updating all program managers in the 3rd week of May. If we have updates before that we will definitely shares those.

 

I understand you would want to have the matter solved earlier, please rest assured we are working diligently to have this solved.

 

Best regards,

 

 

Ad Kees

Vice-President Banking and Investment Services” thats what i got as answer. About some models having acces to their funds some models texted me that they had but when i ask what amount they had in account it was less than 10 000 , i didnt heard of any model had acces to bigger amount

 

[avantgart]

See this is helpful information. This is stuff people should be doing..contacting those higher up in the company. Glad they were able to give at least some what of

This is a hopeful info rather only helpful...we cannot relay just on support infos because as someone said here one morning they just can say it the opposite, we should gether all kinds of infos that we can, as little there are, and disscus them together...i addmit i sleep better after these kinds of mail...but...
We should make a public tread on public place and continue discuss there, so we can free all people here who is annoyed by us while they must read and commenting on things with no interest to them.
Also that future tread should be only about frozen money.i understand others problems with paxum and other things...and even i am in same possition, somehow i dont care about it yet...i havent even seen did they verifyed me yet...my whole world stopped at fcp problem...

 

[luca_locombia]

[QUOTE = "Miaaaa, post: 938157, member: 45978"] "Abbiamo ricevuto informazioni da molti gestori di programma, che stiamo analizzando ora. Dopodiché informeremo i responsabili del programma quali sono i passi successivi per riportare i saldi al titolare del conto e / o al titolare della carta. Puntiamo ad aggiornare tutti i gestori dei programmi nella terza settimana di maggio. Se abbiamo aggiornamenti in precedenza, li condivideremo sicuramente. Capisco che vorresti che la questione venisse risolta in precedenza, ti assicuriamo che stiamo lavorando diligentemente per risolvere il problema. Cordiali saluti, Ad Kees Vicepresidente Servizi bancari e di investimento "questo è quello che ho avuto come risposta. A proposito di alcuni modelli che hanno accesso ai loro fondi, alcune modelle mi hanno mandato un messaggio, ma quando ho chiesto quale importo avevano in conto erano meno di 10.000,


Brava Mia! Anzi, bravissima Now, only we need to hope in these words and, first of all, in Ad Kees and in his resolver team. Keep the faith alive and not only: to be all more patients! Good night....or good day....

 

[LilFitVeve]

By now i guess that it's just a waiting game and at least they just didn't vanish (yet ) as Epassporte did . I really think, using common sense here, that they would just flew off with the cash if they would have wanted to "rob" us Even if you'd had 50k with them...would you really went to the Belize to confront them ?

As with crypto, it's just a #hodlgame now

Personal opinion, of course

 

[Guest]

I also recommend everyone in this situation to email akees@choicebankltd.com and ask for informations.

We have to see if they give us same infos, or maybe other updates. Ask for timeframes, possible solutions, updates, etc.

The guy is very responsive, and he's a trusty source of info

I just did, i email him and I got an answer in 1 h. I share the picture

 

[Pennyless]

“We received information from a lot of program managers, which we are analyzing now. After that we will inform program managers what the next steps are to get balances back to the account holder and/or card holder.

 

We are aiming at updating all program managers in the 3rd week of May. If we have updates before that we will definitely shares those.

 

I understand you would want to have the matter solved earlier, please rest assured we are working diligently to have this solved.

 

Best regards,

 

 

Ad Kees

Vice-President Banking and Investment Services” thats what i got as answer. About some models having acces to their funds some models texted me that they had but when i ask what amount they had in account it was less than 10 000 , i didnt heard of any model had acces to bigger amount

Thanks! At least some info from Choice Bank. I wonder why Firstchoicepay/Payoneer cannot give anything more than a robot answer and btw still no announcement from them about the frozen funds and 26 days counting...
And concerning the rumour that some models do have access to their virtual account it seems to what most of us thought: 10K is only the card balance.
It doesn't seem that anyone at this time has access to their blocked virtual account. Not even merchant accounts. If a model had access, it would look extremely strange.

 

[pallino]

in chaturbate payment page, when there is link to PAYONEER, why? what's new now?
is for wire transfer?

 

[bbbosic]

I just did, i email him and I got an answer in 1 h. I share the picture

It looks like you received a standard answer that I read before.

 

[Guest]

It looks like you received a standard answer that I read before.

Yes, it sems stil have to wait long time in this anxious situation .. I will end up crazy

 

[charlene_arthur]

in chaturbate payment page, when there is link to PAYONEER, why? what's new now?
is for wire transfer?

You see now payoneer as a payment option on Chaturbate?

 

[Guest]

You see now payoneer as a payment option on Chaturbate?

Happy b-day!!!!

 

[toriyama]

(ive read 25 pages, and what a waste of fucking time it was so so SOOO many misinformation, speculation, rage, half of the posts about Dan Einstein xD i feel sorry who decide to read the whole thread from the beginning...)

Thanks to those few who share their true experiences with pay providers! For instance: @Adrianna__ @charlene_arthur @nicehotjob

Mine so far:

• Paxum didnt verified me yet, and its almost 3 weeks... If they mail a card as fast as they review couple of documents... Whatever, i think they might been providing nice service, but they suck right now very hard..
  
• Epayments: i pressed the daily payout button on bongacams, the next second i got the email from epayments that the money is on my account. USD $ currency. There was no payout fees, no crediting, factoring fees, nothing. Than i requested a bank wire transwer to my bank account, a SEPA transfer in EUR € of course, and i saw the currency conversion from USD to EUR, which is like almost identical or even better then the atm withdrawal was with the Firstchoicepay card. The fee for the whole SEPA transfer is 0.6$ !!!!!!!!! But its on their site at fees information page as well... However the money arrived in 7 business days to my bank account. That could be better, but at least everything else was smooth

A girl was struggling hard with english, and she wrote that epayments requested documents from her about the origin of the money. But she couldnt confirm that it was EPAYMENTS or EPAYSERVICES. Those are different. Yet people started spreading this misinformation. I dont know tho, EPAYMENTS did not ask proof from me yet. If you make a transfer to bank account, you have to fill the details field, it cant be empty. You have to specify info about the services/product you are making payment for, if there is no such thing, you just enter "without number". I imagine if you dont know what are you doing and start to write all kind of shit, that could may lead them to ask proof. But again, i dont know.

Also how come you cant request any card from epayments, but through bongacams you can? Through bonga it costs 15 USD instead 5.95. They state that it arrives within 3-7 working days, which sounds quite express for me. What the hell?

 

[Guest]

I also recommend everyone in this situation to email akees@choicebankltd.com and ask for informations.

We have to see if they give us same infos, or maybe other updates. Ask for timeframes, possible solutions, updates, etc.

The guy is very responsive, and he's a trusty source of info

Have you try to add the number phone and contact via WhatsApp in my email is noted that is included whatsapp also , I did and it is working .. But I didn't text there anything yet . May be a faster way to talk with the vice president

 

[bbbosic]

You see now payoneer as a payment option on Chaturbate?

Offtopic, but I see this too at the "Payout information" page of Chaturbate.

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Payoneer Global Bank Transfer Information

Use this link to register or connect your Payoneer Global Bank Transfer account. Once you have registered there, you may complete this form.

 

[charlene_arthur]

T

Happy b-day!!!!

thank you muah!

 

[toriyama]

Offtopic, but I see this too at the "Payout information" page of Chaturbate.

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Payoneer Global Bank Transfer Information

Use this link to register or connect your Payoneer Global Bank Transfer account. Once you have registered there, you may complete this form.

I see that too, not in the drop down menu, but below it. I think its just a standard wire transfer through payoneer, isnt it?

 

[pallino]

in bongacams to request epayments card need gain 50 eur to ask card in payout

 

[pallino]

You see now payoneer as a payment option on Chaturbate?

I see that too, not in the drop down menu, but below it. I think its just a standard wire transfer through payoneer, isnt it?

yes link payoneer global wire transfer
but i think .... i prefer wire transfer from chaturbate to me
i no want chaturbate give money to payoneer, and payoneer not give money to me....
now on chaturbate wire transfer i can write only SWIFT code, and IBAN code? no? mmm