I haven't read everything thoroughly down to the last detail. What does it mean here, that Blackcatcard is legitimate but their partner is accused of billion dollar fraud?
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Blackcatcard migration - difficulties with incoming/outgoing SEPA transfers
- Thread starter cobewi8981
- Start date
No fraud, just some random russophobia against Papaya, the bank behind Blackcat
I plan to restart using them once SEPA is reestablished
Well, rest assured the experience wont be the same as it once was. Banxe utilizes Tompay Ltd and the D/D with incoming transfers and internal crypto exchanges is massive. I am sure that Blackcatcard will end up as another one of these Fintech Neobanks like Nash or Lama that dont have any infrastructure themselves and rely on heavily surveillanced White-Label technology such as Modulr Finance.
I liked Blackcatcard because they were a reliable option for many years already. Sad to see them go this way.
Hi to everyone,
Is there any update about that? Has anyone received the new IBAN? Till nothing here... I've been waiting for 3 months and now also the card doesn't work anymore
Is there any update about that? Has anyone received the new IBAN? Till nothing here... I've been waiting for 3 months and now also the card doesn't work anymore
No, i chatted with them 2 weeks ago and they said:
Dear customer, unfortunately, at the moment, SEPA transfers are unavailable due to the ongoing transition to a new SEPA payment provider.
To restore SEPA transfer functionality, new IBAN account details will be provided to customers. The IBAN assignment will be executed in batches due to the technical complexity of the process. Because of this, we can't say a specific date when your new IBAN will be available, but our technical team is doing everything possible to restore SEPA functionality as soon as possible.
We will inform you via email and in the app when the migration process is fully completed and you can view your new account details and use SEPA transfers.
We apologize for the inconvenience. Are there any other questions I can help you with?
I hope they don't charge the Dormancy fee while SEPA transfers don't work and the account is almost unusable.
I only use Blackcat for buying things from Amazon, so perhaps you could make a small purchase to stay within the period to avoid dormancy. What is the period? Six months?
However, if you really cannot use your card in the way it's supposed to be used, in shops etc, then you could write a strong letter to Blackcat, Papaya and the MFSA.
The aim of the MFSA is ...'...and its main functions include the protection of consumers,...' Haha!
Maybe warn Blackcat that you will be collaborating fully with all investigation by the MFSA, EuroPOL and EuroJUST.
It seems that their problems are many:
Gżira firm is focal point of ‘large-scale’ investigation
Police this week carried out searches at e-money company Papaya in connection with the probe
timesofmalta.com
Over 100 searches and four arrests in Latvia, Germany, France, Italy and Malta against financial institution involved in money laundering
National authorities in Latvia, Germany, France, Italy and Malta have carried out over 100 searches in a large-scale operation against a Russian-Eurasian criminal network and a Maltese-based financial institution allegedly involved in money-laundering services. Four suspects were detained during...
PS We're talking about Malta here, not exactly known for honesty.
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