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What is going on with First Choice?
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[QUOTE = "Chriss, post: 948307, membro: 45706"] Che cosa significa esattamente la prima parte? Chiuderanno la banca, pagheranno?
Wtf con questa notizia confusa : Banghead:[/ QUOTE]
from Channel5 of Belize (18 may 2018)
Tonight there is grim news in the offshore industry. Indications are that Choice Bank, an offshore bank operating from Belize City, is winding down due to a cash flow crisis involving the prepaid card component of its international banking business. After ten years in operation, the banks website claims it is the largest international bank in Belize with two hundred and thirty-eight million U.S. dollars in assets, dealing with more than three thousand corporate accounts worldwide and with more than three hundred thousand prepaid cards in circulation as well as a proven track record of success. But several weeks ago, clients were informed that the bank is facing a crunch with liquidity. All withdrawals from deposit accounts have since been put on hold, along with other services provided in respect of payments. The existing state of affairs at the offshore bank continues so that by the end of June, the bank will be closing. Some staff members have already been released, while others are being let go gradually. P.M. Dean Barrow weighed on Wednesday in on the matter in his capacity as Minister of Finance, stating that it is a crisis that is unique to Choice Bank and is related to the entertainment business.
Choice Bank is near to close definitly........We'll rest without our money
Wtf con questa notizia confusa : Banghead:[/ QUOTE]
from Channel5 of Belize (18 may 2018)
Tonight there is grim news in the offshore industry. Indications are that Choice Bank, an offshore bank operating from Belize City, is winding down due to a cash flow crisis involving the prepaid card component of its international banking business. After ten years in operation, the banks website claims it is the largest international bank in Belize with two hundred and thirty-eight million U.S. dollars in assets, dealing with more than three thousand corporate accounts worldwide and with more than three hundred thousand prepaid cards in circulation as well as a proven track record of success. But several weeks ago, clients were informed that the bank is facing a crunch with liquidity. All withdrawals from deposit accounts have since been put on hold, along with other services provided in respect of payments. The existing state of affairs at the offshore bank continues so that by the end of June, the bank will be closing. Some staff members have already been released, while others are being let go gradually. P.M. Dean Barrow weighed on Wednesday in on the matter in his capacity as Minister of Finance, stating that it is a crisis that is unique to Choice Bank and is related to the entertainment business.
Choice Bank is near to close definitly........We'll rest without our money
Perhaps they delay all those transfers because of that...they need in that case to buy 2 weeks more then.
Octav from paxum answered me that he does not know when our cards will be printed.
I wrote to paxumbank:
- Can I open an account with you if Im not from country within eu/eea ?
- Can you receive larger transfer(about $50.000) and what documentation will I need for that, beside personal documents for account verification, of course?
- The transfer will come from Choice bank or some insurance company and not as account transfer(from account with my name) . They said they will also provide some documentation linking that transfer with my account at Choice bank, so I could connect my previous earning statements with those sum.
I understand that this kind of transfers are unusual and could be problematic considering todays bank laws, so I want to check with support first.
If you need any more information about it, please let me know.
They replyed:
1. Yes, you can open an account with us if you are not form the EU. There are some countries that we do not do business with however. Please let us know where you are from and where you currently reside and we can let you know.
2. For transfers of large amounts, we need to know the source of the funds. Who sent it, the reason, and if possible invoices or supporting documentation.
3. Noted. The documentation should be acceptable. But this is subject to the approval of the compliance department. They would review it and let you know if anything else is needed
Octav from paxum answered me that he does not know when our cards will be printed.
I wrote to paxumbank:
- Can I open an account with you if Im not from country within eu/eea ?
- Can you receive larger transfer(about $50.000) and what documentation will I need for that, beside personal documents for account verification, of course?
- The transfer will come from Choice bank or some insurance company and not as account transfer(from account with my name) . They said they will also provide some documentation linking that transfer with my account at Choice bank, so I could connect my previous earning statements with those sum.
I understand that this kind of transfers are unusual and could be problematic considering todays bank laws, so I want to check with support first.
If you need any more information about it, please let me know.
They replyed:
1. Yes, you can open an account with us if you are not form the EU. There are some countries that we do not do business with however. Please let us know where you are from and where you currently reside and we can let you know.
2. For transfers of large amounts, we need to know the source of the funds. Who sent it, the reason, and if possible invoices or supporting documentation.
3. Noted. The documentation should be acceptable. But this is subject to the approval of the compliance department. They would review it and let you know if anything else is needed
The owners and the management of the bank are actually right now on a 10 million yacht in the waters of Guatemala celebrating with a bunch of prostitutes.... you got it?
@bbbosic i have with paxum, and waithing fucking card to be printed out for weeks now. I believe they didnt even make new deal with new bank yet after choice...
I donot have an account with paxum bank.
As you can see all of them are asking some basic papers at least...and choice do not plan to provide even that as far as i can see...
I donot have an account with paxum bank.
As you can see all of them are asking some basic papers at least...and choice do not plan to provide even that as far as i can see...
[QUOTE = "avantgart, post: 948579, membro: 45871"] [USER = 45742] @bbbosic [/ USER] ho con paxum, e la carta del cazzo waithing deve essere stampata per settimane. Credo che non abbiano ancora fatto un nuovo accordo con la nuova banca dopo la scelta ...
Non ho un conto con la banca del paxum.
Come puoi vedere, tutti chiedono almeno alcuni documenti di base ... e la scelta non prevede di fornire nemmeno quello che posso vedere ... [/ QUOTE]
This pic from another forum, PAXUM started already from weeks to send new cards. This one shipped on 2018-05-10 and received in Czech Republic
This other one, received in Italy on 6 june 2018:
Non ho un conto con la banca del paxum.
Come puoi vedere, tutti chiedono almeno alcuni documenti di base ... e la scelta non prevede di fornire nemmeno quello che posso vedere ... [/ QUOTE]
This pic from another forum, PAXUM started already from weeks to send new cards. This one shipped on 2018-05-10 and received in Czech Republic
This other one, received in Italy on 6 june 2018:
so, after i wrote an email to kees telling he s not serious, not answering at skype and on phone, he was very promt in responding to my email.. and look what he said
"
I am currently at my desk and I was to discuss this matter with you. However: in a few days we will be able to announce reopening of the bank, so this will be over pretty soon. There were some other solutions in place, which no longer make sense at this time.
Best regards,
Ad Kees
Vice-President Banking and Investment Services
Spain: +34674874279 (including WhatsApp)
"
"
I am currently at my desk and I was to discuss this matter with you. However: in a few days we will be able to announce reopening of the bank, so this will be over pretty soon. There were some other solutions in place, which no longer make sense at this time.
Best regards,
Ad Kees
Vice-President Banking and Investment Services
Spain: +34674874279 (including WhatsApp)
"
No problem, buddy....The bigger problems in this moment are always around this odyssey of Choice Bank.....a novel that could to end in tragedy...
I sent Rob a message on Skype 2 days ago. He told me to talk to Karen . She is the one handle the payment , not him.i sent her 3 emails. No answer. Did anybody talk with fcp customer service ? They lied so many times now.
So now they plan to reopen the bank...hmm...and as i can see 70% offer will no longer be on the table...and yet on the news said the bank is closing...as someone said...hundreds of millions are directed by only few people!
I was polite with few question to them..they never answered me again...and they reply within minutes to some of you when you give them angry speach...haha what caracters they are...
I was polite with few question to them..they never answered me again...and they reply within minutes to some of you when you give them angry speach...haha what caracters they are...
Seeing last movements, last updates and last voices, this will be the currency with which Choice Bank will pay its creditors.....................................
Give us more details, please. Have you received an e-mail in which they say that you have to make an euro account?
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So, today i got an answer from Thompson saying that my IBAN number is wrong, after he said i filled out the form correctly That means , in my opinion, 3 scenarios
1. They really tried to send the money and got an error because who knows why, allthough i checked it 10 times before sending it
2. They are just stalling and waiting for the bank to close
3. I am an idiot and cannot correctly copy and paste something
Anyone else has "written the IBAN number wrong" ?
That means , in my opinion, 3 scenarios1. They really tried to send the money and got an error because who knows why, allthough i checked it 10 times before sending it
2. They are just stalling and waiting for the bank to close
3. I am an idiot and cannot correctly copy and paste something
Anyone else has "written the IBAN number wrong" ?
So, today i got an answer from Thompson saying that my IBAN number is wrong, after he said i filled out the form correctly
1. They really tried to send the money and got an error because who knows why, allthough i checked it 10 times before sending it
2. They are just stalling and waiting for the bank to close
3. I am an idiot and cannot correctly copy and paste something
Anyone else has "written the IBAN number wrong" ?
Correct the 2nd: They are just stalling and waiting for the bank to close
They are searching, in several ways, only to delay all operations until 31 june. If they'll pay someone before June 31st, I'll become a friar!
But what would be the point of stalling in this fashion? If they ignored all emails and stayed completely silent until June 31st, it's still the same. It's not like a lawsuit would resolve this fast. I'm not saying I have any official information but I just can't understand if June 31st is the day they get away with everything, then why bother doing anything at all?
So, today i got an answer from Thompson saying that my IBAN number is wrong, after he said i filled out the form correctly
1. They really tried to send the money and got an error because who knows why, allthough i checked it 10 times before sending it
2. They are just stalling and waiting for the bank to close
3. I am an idiot and cannot correctly copy and paste something
Anyone else has "written the IBAN number wrong" ?
Stalling, because i got an e-mail from them yesterday that they cant read my address and i should sent it again. This after they said last week i filled it out correctly and everythings good.
They have been doing this since December 2017. They always ask for more papers to account holders who want to transfer their money to another account. On review sites I read that it was almost impossible to withdraw your money since then.
I think they want to keep our big money for a longer time when the bank opens again. They need it to survive. If they transfer the money on the first day of the reopening, they will get into trouble.
I think they want to keep our big money for a longer time when the bank opens again. They need it to survive. If they transfer the money on the first day of the reopening, they will get into trouble.
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I really do feel sorry for people keeping so much money with them. Payoneer should have been the guarantor for all these amounts. I already made my lost 6k back but for sure there are desperate situations out there.
Hi to all !
Even before the bank began telling us fairy tales about the translation and sent out forms, I proposed to collect a class action and consulted with an international lawyer and that's what he wrote to me:
My colleagues and I got into the situation.
Indeed, it makes sense to prepare a complaint regarding the violation of consumer rights of financial services. We can build on the following facts and assumptions, which we found in addition to your description:
As follows from the initial notification of Payoneer, Firstchoicepay is one of the commercial names (brands) under which Payoneer operated until recently (it is not specified through which legal entity) together with Choice Bank Ltd (registration number is 155716). The latter is registered in Belize, positions itself as an offshore bank, but still carries out its activities.
Potentially, Payoneer could use for this purpose its own company Payoneer Payment Solutions Ltd, registered in Belize (registration number - 88589). But detailed information on the legal entity, which directly owns Firstchoicepay, is absent.
There is only indirect evidence that Payoneer owns the Firstchoicepay brand. This is the mentioned notification from the payment system itself about the transition to the specified brand. As follows from hyperstat.com, the site with the domain name "firstchoicepay.com" is registered with Amanda Shafton, who represents Choice Bank Ltd.
Due to the lack of data on the legal entity for which the brand is registered, we can follow two strategies.
The first is to presume that Firstchoicepay is registered to a separate legal entity that is not formally associated with Payoneer. In this case, the strategy consists of requests to the state bodies of Belize to provide relevant information about the company and, consequently, filing a complaint against such a company and the correspondent bank. Here it is necessary to understand that Belize is offshore, and state bodies tend to refuse to provide any information about local companies, except for and so publicly available. Therefore, this process can lead us to a dead end.
Therefore, the second approach is advisable. We assume that a separate legal entity called "Firstchoicepay" does not exist. We also presume that all responsibility for the quality of services provided under this brand should be borne by Payoneer, who automatically transferred you as a client to a different service, and, in fact, (b) the bank that suspended the provision of services. Such responsibility to the client (the consumer of financial services) should be solidary; this means that you can file a complaint with any of these designated entities. Moreover, it may be a parallel process that may result in a) compensation for losses from Payoneer and b) administrative sanctions for the bank, including, possibly, loss of license.
We can prepare and file a complaint. We can not guarantee the result, because, firstly, platforms such as Payoneer often prescribe a lot of disclaimers in their rules; secondly, both Payoneer and the servicing bank can write off the entire situation to external circumstances that occurred (withdrawal of the license / suspension of cooperation with Mastercard).
We need to further explore the issue of financial responsibility (in this case) as such, the collection of information about the problem, the applicable law (legislation), and the choice of the defendant (or at first simply the company to which we will complain).
After studying, we will prepare a complaint and, if necessary, hold negotiations with Payoneer
Even before the bank began telling us fairy tales about the translation and sent out forms, I proposed to collect a class action and consulted with an international lawyer and that's what he wrote to me:
My colleagues and I got into the situation.
Indeed, it makes sense to prepare a complaint regarding the violation of consumer rights of financial services. We can build on the following facts and assumptions, which we found in addition to your description:
As follows from the initial notification of Payoneer, Firstchoicepay is one of the commercial names (brands) under which Payoneer operated until recently (it is not specified through which legal entity) together with Choice Bank Ltd (registration number is 155716). The latter is registered in Belize, positions itself as an offshore bank, but still carries out its activities.
Potentially, Payoneer could use for this purpose its own company Payoneer Payment Solutions Ltd, registered in Belize (registration number - 88589). But detailed information on the legal entity, which directly owns Firstchoicepay, is absent.
There is only indirect evidence that Payoneer owns the Firstchoicepay brand. This is the mentioned notification from the payment system itself about the transition to the specified brand. As follows from hyperstat.com, the site with the domain name "firstchoicepay.com" is registered with Amanda Shafton, who represents Choice Bank Ltd.
Due to the lack of data on the legal entity for which the brand is registered, we can follow two strategies.
The first is to presume that Firstchoicepay is registered to a separate legal entity that is not formally associated with Payoneer. In this case, the strategy consists of requests to the state bodies of Belize to provide relevant information about the company and, consequently, filing a complaint against such a company and the correspondent bank. Here it is necessary to understand that Belize is offshore, and state bodies tend to refuse to provide any information about local companies, except for and so publicly available. Therefore, this process can lead us to a dead end.
Therefore, the second approach is advisable. We assume that a separate legal entity called "Firstchoicepay" does not exist. We also presume that all responsibility for the quality of services provided under this brand should be borne by Payoneer, who automatically transferred you as a client to a different service, and, in fact, (b) the bank that suspended the provision of services. Such responsibility to the client (the consumer of financial services) should be solidary; this means that you can file a complaint with any of these designated entities. Moreover, it may be a parallel process that may result in a) compensation for losses from Payoneer and b) administrative sanctions for the bank, including, possibly, loss of license.
We can prepare and file a complaint. We can not guarantee the result, because, firstly, platforms such as Payoneer often prescribe a lot of disclaimers in their rules; secondly, both Payoneer and the servicing bank can write off the entire situation to external circumstances that occurred (withdrawal of the license / suspension of cooperation with Mastercard).
We need to further explore the issue of financial responsibility (in this case) as such, the collection of information about the problem, the applicable law (legislation), and the choice of the defendant (or at first simply the company to which we will complain).
After studying, we will prepare a complaint and, if necessary, hold negotiations with Payoneer
They didn't tell me to make an euro account, because they can send euro to an usd account, but that would be 2 conversions: first theirs and second my bank's. They just made me aware that they will send euro. No one else got this answer? Could you call or find out if it's also the case for you?
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