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What is going on with First Choice?
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Everything you said its true...everybody knows that...also the problem is that from begining we were pretty small and "special" group on internet that have been striken by this situation and therefore very unknown to public and also very quiet...but nevertheless theirs reputation is ruined so they are taking everything they can now...
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Except as noted below, the Liquidator determined that all categories of claimants were entitled to claim against Choice Bank.
Exception: Claims on card balances by holders of prepaid cards issued by Card Partners fell into a category of claimants who were not eligible to claim against Choice Bank Limited.
Does it mean we won’t get paid after all?!
Exception: Claims on card balances by holders of prepaid cards issued by Card Partners fell into a category of claimants who were not eligible to claim against Choice Bank Limited.
Does it mean we won’t get paid after all?!
Our cards were issued by choice bank and it says on the card that it is property of choice bank but we were paid and registered via FCP.
No you are eligible, it's the same text that was introduced in the previous schedule by the former liquidator. FCP cards claims are valid.
Prepaid cards are allowed, but certain cards were issued to some other payment processors and it's a small percentage, they are not valid claims.
The good thing about this that they managed to secure enough funds to cover 88% of the frozen moneys.
And those who got their first payment will get a second final payout, probably around 35% of the original amount.
The Liquidator identified and classified each unsecured claim in one of the categories outlined below:
1. Claims on Deposits; 2. Claims on prepaid card balances; 3. Claims on Salaries and Wages; 4. Claims of Other Creditors.
Except as noted below, the Liquidator determined that all categories of claimants were entitled to claim against Choice Bank.
Exception: Claims on card balances by holders of prepaid cards issued by Card Partners fell into a category of claimants who were not eligible to claim against Choice Bank Limited.
Does it mean we not include to get payment or pls explain someone who knows better
1. Claims on Deposits; 2. Claims on prepaid card balances; 3. Claims on Salaries and Wages; 4. Claims of Other Creditors.
Except as noted below, the Liquidator determined that all categories of claimants were entitled to claim against Choice Bank.
Exception: Claims on card balances by holders of prepaid cards issued by Card Partners fell into a category of claimants who were not eligible to claim against Choice Bank Limited.
Does it mean we not include to get payment or pls explain someone who knows better
I understand you'll be paid, belonging to cat. 2, founds are allowed and recalculated for this.
I don't see if they count all what is claimed but at least, they will adjust those who already received a payment last year or in start of this year.
These payments already done were a test, all claimers will be taken in account during this last "pool of payments" starting in July.
I don't see if they count all what is claimed but at least, they will adjust those who already received a payment last year or in start of this year.
These payments already done were a test, all claimers will be taken in account during this last "pool of payments" starting in July.
No it does not mean that, we will get paid
It is not necessary, the objection form is for those who object to the new revised schedule
We don't need to send anything else, we just have to wait for the date.
When they say "except those with a balance on the pre-paid card", I think what they mean is that if you had a credit card with a balance on it, you can't claim the amount on the card balance, BUT, we're all eligible to the amount that was held on FirstChoice Pay. For example, if your balance on your FCP account was $20,000, but you had $1500 on your credit card, you are eligible for the $20k held by Choice Bank, but not the $1500 (held by MasterCard). We were all instructed 2 years ago to withdraw all the money on our credit cards because it would be lost, so this $1500 on your card you should have withdrawn it at an ATM 2 years ago. But your FCP balance will be paid out soon.
Hello, I came here because of new Payoneer problem with Wirecard company. I haven't heard the story about First Choice Pay and I wonder how in the world anyone would hear about this story if it's not mentioned anywhere. For example, if someone open wikipedia he will see that Payoneer looks all cool there and complete success company we should all trust. Ok, may be the story had been erased by Payoneer? Actually, no, if you look discussions about Payoneer ("Talk" tab) you'll see that FCP story is not mentioned at all.
Payoneer managed to avoid the same fate as FCP, and only lost their card processor.
FCP was a separate entity from Payoneer by late 2017, and owned by Choice Bank, so when the banks went down all the money was gone with the bank.
At least Payoneer still has the money and allows local bank transfers.
FCP was a separate entity from Payoneer by late 2017, and owned by Choice Bank, so when the banks went down all the money was gone with the bank.
At least Payoneer still has the money and allows local bank transfers.
Payoneer managed to screw us because they transfered us to theirs new company without our concent, to a new brand unknown to public. Payoneey it self destroyed practicly fcp and choice bank when they told payoneer card holders to withdraw all theirs money at once! Payoneer as a brand is so widely used and if they got into even in same situation as we had, it wouldnt be so quiet.
We should be happy that choice bank was very strong one and that we will get our money back in those procentages. Usually even when regular bank go down, people get only secured sums from goverment, and almost nothing from bank itself.
We should be happy that choice bank was very strong one and that we will get our money back in those procentages. Usually even when regular bank go down, people get only secured sums from goverment, and almost nothing from bank itself.
I totally agree! I first had my Choice Bank Limited card in 2011 through Payoneer! They automatically transferred us all from Payoneer to First Choice without our consent, all we got was a notification. I HOPE we will finally get our money back soon, we've been waiting for over 2 years!
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