What is going on with First Choice?

[LilFitVeve]

Why is everybody getting so hyped up for payment receiving methods when all there is now regarding our frozen funds are some dodgy anonymous phonecalls made by who knows who ?!

 

[LoonaVision]

For me, before deciding how much will I get back, the most important, is how to get them back. So, first I need to find a place to send money to and only then I will think about that fishy offer of 70. At the moment, 70 percent or 100 percent... doesn’t matter. I have no way to accept it. Again, I have big amount there and I will need lots of legal documents so my bank accepts it and looks like they are not able to give me those documents

 

[Chriss]

For me, before deciding how much will I get back, the most important, is how to get them back. So, first I need to find a place to send money to and only then I will think about that fishy offer of 70. At the moment, 70 percent or 100 percent... doesn’t matter. I have no way to accept it. Again, I have big amount there and I will need lots of legal documents so my bank accepts it and looks like they are not able to give me those documents

Try another country!
Talk with a company that makes this type of accounts!

 

[Mfc_anon]

Try another country!
Talk with a company that makes this type of accounts!

I'm sure a lot of people didn't know what they were getting into using FCP when everything worked. And if you were paying attention to the offshore landscape, you would see that governments around the world have closed a lot of loopholes just this year. These laws are all meant to prevent money laundering. I just hope Belize Central Bank would step in and examine the books and see that there is no money laundering going on. They need to make exceptions so that innocent people who got their money stuck can legally retrieve it without jumping through a ton of hoops. Cam models are usually not offshore experts. If you go to the right forums, the discussions are complex and involves lots of prior experience to get it right. I agree with Dan on one point. If someone finds the secret sauce on how to get their money out safely and legally, DM someone but don't discuss it too publicly.

 

[Evgenij]

The bank will be closed by the end of june??

 

[Mfc_anon]

The bank will be closed by the end of june??

There is something really shady going on as if we didn't know already. Here are the two news articles posted just 2 days apart and yet the messages are completely changed. Even the Prime Minister's quote has been altered. Who is telling the truth?

From May 16th

http://www.7newsbelize.com/sstory.php?nid=44765

"I signed a letter based on the recommendation of the Central Bank giving the Central Bank broader powers than would normally be the case to as it were ensure that the bank's continued operations would be with a view to see all their depositors and customers satisfied."

From May 18th

http://edition.channel5belize.com/archives/165612

"I signed a letter based on the recommendation of the Central Bank giving the Central Bank broader powers than would normally be the case to, as it were, ensure that the bank’s continued operations would be with a view to seeing all their depositors and customers satisfied as far as is possible.”

By adding "as far as is possible", it indicates clients may not get 100%. That changes the meaning of the PM's quote almost completely. Also, there is no indication in the May 16th article that the bank is closing.

 

[Mfc_anon]

There is something really shady going on as if we didn't know already. Here are the two news articles posted just 2 days apart and yet the messages are completely changed. Even the Prime Minister's quote has been altered. Who is telling the truth?

From May 16th

http://www.7newsbelize.com/sstory.php?nid=44765

"I signed a letter based on the recommendation of the Central Bank giving the Central Bank broader powers than would normally be the case to as it were ensure that the bank's continued operations would be with a view to see all their depositors and customers satisfied."

From May 18th

http://edition.channel5belize.com/archives/165612

"I signed a letter based on the recommendation of the Central Bank giving the Central Bank broader powers than would normally be the case to, as it were, ensure that the bank’s continued operations would be with a view to seeing all their depositors and customers satisfied as far as is possible.”

By adding "as far as is possible", it indicates clients may not get 100%. That changes the meaning of the PM's quote almost completely. Also, there is no indication in the May 16th article that the bank is closing.

I found the video. The relevant part starts at 1 hour 23 min mark



It does seem like he said the 2nd version except the audio cuts out in the end. The biggest bank in the country is about to go down but this news program puts it in the final minutes as if it's a footnote. You can believe if the biggest bank in the US closes down, it would be top news.

 

[Darkemporium]

I'm starting to be really pessimistic about this situation.
No clear answers usually mean no good news :/

 

[luca_locombia]

[QUOTE = "Darkemporium, post: 943109, membro: 45758"] Sto iniziando a essere davvero pessimista su questa situazione.
Nessuna risposta chiara di solito significa nessuna buona notizia: / [/ QUOTE]

The money is lost. I already thinking to new affairs and new business. I believe in the possibility that nobody will see again his money. The situation is too confused and too dirty. For this shitty situation we need only to thanks PAYONEER and his founder.

Yeah, because the first actor in this disaster is surely Payoneer and his principal mind. Payoneer, months ago, has taken away millions and millions of dollars from Choice Bank causing the crack of the same bank. This is sure.

At last, if we see all silence of these shitty FCP and Payoneer around all this matter, is totally evident that, the first actors in this disaster (for us) are only FCP and Payoneer, the same shitty face of the same shitty medal.

 

[Mfc_anon]

The main page of Choice Bank is down.

http://www.choicebankltd.com/

 

[luca_locombia]

The main page of Choice Bank is down.

http://www.choicebankltd.com/

Yes, from yesterday.

From yesterday, in the nigt, from saturday the main page of ChoiceBank was already off.

 

[Mfc_anon]

I'm starting to be really pessimistic about this situation.
No clear answers usually mean no good news :/

I hate to say it but given what a huge disadvantage we are in, I think it's time to negotiate for that 70% and make sure it's guaranteed to be there once a means of accepting it is found.

 

[LoonaVision]

This is just more and more frustrating. If choice will be closed till the end of June, then our money still can be legally frozen, since they can release them 10th of July.
As far as I know bank can’t be closed this fast, I mean it’s literally less than 3 months. They need more time for investigation. Maybe rules are different everywhere but what I am aware of, they have to have at least 6 months before closing bank down.

 

[avantgart]

If they are really closing and plan not to organize realising of the funds....i wouldnt go with lawsuit and court as a way to retrieve it...
I undersood in the video that central bank requested of pm to get involved...

 

[avantgart]

Its a bit plus that rob mentioned "waiting till july..." so they plan to unfreeze it...but i think he is telling the truth about what % we could get then, because then i believe different laws are applicable, and since we are not the one with real accounts who can go to belize to pick the money up...

 

[LilFitVeve]

We are/have been customers of Payoneer/Fcp . Not Choice Bank The Bank might be closing but it's Payoneer who has to get the money out, not ia directly from the bank

And maybe Payoneer finally has so much cash that it's worth doing a runner with all of it , ePassporteStyle, instead of comission earnings

 

[Evgenij]

The main page of Choice Bank is down.

http://www.choicebankltd.com/

Tried today and its working

 

[avantgart]

Payoneer did what he did just so it cannot be liable...legally we are not connected to them any more...fcp is part of choice, this is why they were closing and have no clues about anything...would you believe that fcp is a standalone company and they will be fighting for our money?! Hah i wont. I think they are just a bunch of webmasters maintaining website and numbers...

 

[LoonaVision]

Most of all I’m afraid of that one day I wake up and see that FCP and choice websites are down and no one is answering phones and emails

 

[avantgart]

Exactly..and then we will going to sue them? Where? With what? I dont think so...
I got answer from transferwise:
I could get wire if im in europe and i can get a virtual account and card only if im in eea/uk country exept ireland, norway and greece.(my fucking country isnt in eea)
She didnt answer about additional document for transwer nor anything negative on transfer of more then 50k.
That does not mean it is safe to transfer and that they would ask for documents...

 

[avantgart]

P.s. paxum still didnt respond on same question and mr rob(me ), is also silent( since i responded to him with email and told him i would like to disscuss only over email)

 

[LoonaVision]

I’m sure they will ignore anyone who let them know that they want the 70 percent offer discussed on paper. For some reason, they don’t want any evidence of that.

 

[bbbosic]

I’m sure they will ignore anyone who let them know that they want the 70 percent offer discussed on paper. For some reason, they don’t want any evidence of that.

They will send you a contract anyway. I guess that this 70% deal is described in it.

https://www.ambercutie.com/forums/t...n-with-first-choice.31226/page-71#post-942482
Once we receive this information we will send you the contract for your signature and the funds will be submitted for wire to you.

Has anyone seen that contract? Do they send it by regular mail?

 

[Miaaaa]

https://www.breakingbelizenews.com/2016/05/16/payment-processor-sues-visa-belize-banks/
Thats case from the past in common like our case and they won in court still waiting for money to be given to everyone but they won so i believe if we fight for our money have big chance to win

 

[dark_mermaid]

The bank will be closed by the end of june??

This is still super vague as to what actually caused the lack of liquidity. "Something to do with prepaid cards". Prepaid cards themselves can't do damage and cause a lack of liquid funds, it's impossible. Money must have been withdrawn on a large scale from accounts of Choice Bank to cause this (or choice bank lost an asset, credit default or can't access their own funds at another bank but I doubt it). It seems as if quite some fcp customers had deposits via fcp at choice bank but what was pulled out (by who? Payoneer?) must have still been more than what these fcp users still had at choice bank (via fcp). So yes, it seems as if fcp users were screwed over here.

Best of luck everyone.

 

[dark_mermaid]

We should all learn from this. Paxum will be closely tied to Paxum Bank located on Dominica. It's a tax haven and it advertises with less capital requirements and less regulations compared to Belize. So use Paxum as what it is, a payment processor, it's not a place for your savings.

 

[avantgart]

No bank has 100% all the time...(they are using it for loans, stocks etc) and when payoneer withdrew large sum of money quickly they run out of liquidity. They couldnt stop them as they tried to stop regular clients. prepaid cards were to them stady and guaranteed flow of cash.
@Miaaaa if they dont have money at the end, even if we win( which is time and money consuming, maybe it will cost as much as 30% at the end) they cannot pay it out because they do not have it anymore.

 

[Chelsea9]

Exactly..and then we will going to sue them? Where? With what? I dont think so...
I got answer from transferwise:
I could get wire if im in europe and i can get a virtual account and card only if im in eea/uk country exept ireland, norway and greece.(my fucking country isnt in eea)
She didnt answer about additional document for transwer nor anything negative on transfer of more then 50k.
That does not mean it is safe to transfer and that they would ask for documents...

Digging through their help section:
https://transferwise.com/help/topics/20/questions/2726771/when-do-you-need-to-verify-my-identity

https://transferwise.com/help/artic.../how-much-can-i-keep-in-my-borderless-account

Also look at TransferWise reviews:
https://www.trustpilot.com/review/transferwise.com

Many people get their funds frozen and sent back to sender for breaking any of their TOS and rules.

One thing I learn from Payoneer/FCP fiasco is to read their TOS and rules and limits before commiting money into it..and do your research as much as possible.

 

[avantgart]

Today almost everyone will ask documentation for anything over 10k. Because of money loundering law most money processors are working only with eu countries, because in eu all banks are connected now so nobody can hide anything anymore.( it is same as you transfer it in regular bank)

 

[Evgenij]

They will send you a contract anyway. I guess that this 70% deal is described in it.

https://www.ambercutie.com/forums/t...n-with-first-choice.31226/page-71#post-942482
Once we receive this information we will send you the contract for your signature and the funds will be submitted for wire to you.

Has anyone seen that contract? Do they send it by regular mail?

Karen Baum send me email about that.But when i asked about insurance company country,stopped answering.