What is going on with First Choice?

[Nessma]

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.

 

[avantgart]

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.

 

[MHamilton]

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.

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!

 

[Daniela23]

Guys, you have any news?

 

[Aleexx]

Nothing!

 

[MHamilton]

No news!

 

[Agnesss]

Nope

 

[Daniela23]

This situation is so annoying..

 

[Daniela23]

A guy said this in another chat:

"I recently spoke with someone at the bank, my relationship is very decent with this individual and he stated to me that the liquidator is again trying to delay pay out and stretch this whole thing out as far as it gets so he can keep collecting a fat paycheck.

He advised me to have everyone email the central bank and ramp up as much pressure as possible. Lets write them see emails below:

Prime Minister email:
Secretarypm@opm.gov.bz
governoroffice@centralbank.org.bz
governor@centralbank.org.bz

I really hope everyone can get most of their funds back."

What do you think, guys?

 

[Dill]

A guy said this in another chat:

"I recently spoke with someone at the bank, my relationship is very decent with this individual and he stated to me that the liquidator is again trying to delay pay out and stretch this whole thing out as far as it gets so he can keep collecting a fat paycheck.

He advised me to have everyone email the central bank and ramp up as much pressure as possible. Lets write them see emails below:

Prime Minister email:
Secretarypm@opm.gov.bz
governoroffice@centralbank.org.bz
governor@centralbank.org.bz

I really hope everyone can get most of their funds back."

What do you think, guys?

i will write. ty for posting

 

[avantgart]

A guy said this in another chat:

"I recently spoke with someone at the bank, my relationship is very decent with this individual and he stated to me that the liquidator is again trying to delay pay out and stretch this whole thing out as far as it gets so he can keep collecting a fat paycheck.

He advised me to have everyone email the central bank and ramp up as much pressure as possible. Lets write them see emails below:

Prime Minister email:
Secretarypm@opm.gov.bz
governoroffice@centralbank.org.bz
governor@centralbank.org.bz

I really hope everyone can get most of their funds back."

What do you think, guys?

Yes, i assumed the same. If you were having 50k monthly paycheck...would you take only one or delay it to your maximum of 6 months....

 

[heiko]

So.... whats gonna happen now.. waiting time again?

 

[Daniela23]

So.... whats gonna happen now.. waiting time again?

Don't know, but seems that we still have to wait...

 

[Claudia Smith]

they said on July 1st they will be contacting us to tell us how much they will send and ask us where should they send and nothing lets see if they contact us this week... Let us know what does the Central Bank say if someone email them!

 

[SetOn]

I sent 3 emails in 2 weeks to Choice Bank and no answers till now . Anyone here got any answer?

 

[Nata_]

yes, I sent them an email asking about payment schedule news, and they answered next day:

“ Thank you for your email.

Please be advised we will contact you to confirm your wiring details in due course.

Regards
The Liquidation Team”

 

[Daniela23]

yes, I sent them an email asking about payment schedule news, and they answered next day:

“ Thank you for your email.

Please be advised we will contact you to confirm your wiring details in due course.

Regards
The Liquidation Team”

They answered me almost the same on June 15...
"Thank you for your email.

We will contact you in regards to wiring details in short course."
Nothing concrete... as usual.

 

[SetOn]

I hope they will not ask again for new notarized documents because it will delay more till all of us will do it again...

 

[_AnonymousModel]

I hope they will not see your post @SetOn... Don't give them ideas...

 

[SetOn]

I hope they will not see your post @SetOn... Don't give them ideas...

They don t need ideas, they have already a plan to delay

 

[avantgart]

Ofcourse they will...they will ask payment info againt, documents again...so can delay till the last month of liquidator's mandat...so that will be about 5 months since he was placed...

 

[Nata_]

This is silly but a kept my USD account open all this time just to receive the money pfff
Hope this year will be ‘the year’..

 

[Nata_]

check ur emails everyone, there are new updates

 

[Agnesss]

check ur emails everyone, there are new updates

I got it and its also a form attached but I think its only for the ones that didnt have it in the first place with the details from their bank? We dont have to fill it up right?

 

[best999]

I got it and its also a form attached but I think its only for the ones that didnt have it in the first place with the details from their bank? We dont have to fill it up right?

If you have sent the wire details on the previous form, you don`t need to send it again. If your wire details have changed, you need to send the Wire Details form, from the attachment of the last email.

 

[exdaek]

"Name of Account" - should be name, or FCP id or what?
"Authorised Signature of Claimant" why this thing in form 2 times?

 

[heiko]

Their email states :

Payments are scheduled to commence on 21st August, 2020. If you have not provided
your wire instructions or if there has been any change that could result in funds being
returned, you are asked to submit fresh instructions using the accompanying Payment
Instructions Form. The Liquidation Team will be providing an update of the scheduling
and likely value date for your payment to be processed, based on a collation of all
payment instructions submitted.

So i suppose only people that have changed their bank account or have not provided any wire instructions have to do this.

 

[sassy001]

as i understood they will pay back only to the ones who got the first partial payment ,they will get the final payment ?Whats about with the others who got nothing yet ?

 

[Nessma]

as i understood they will pay back only to the ones who got the first partial payment ,they will get the final payment ?Whats about with the others who got nothing yet ?

They will pay everyone with sums over 2.5k usd in their accounts, about 84% of their frozen funds, and those who received a first partial payment will get about 32% of their owed money .

 

[sassy001]

They will pay everyone with sums over 2.5k usd in their accounts, about 84% of their frozen funds, and those who received a first partial payment will get about 32% of their owed money .

thanks