Moneycollect feedback

[fredouille1973]

Hi

https://www.moneycollect.com/

any feedback ? no employees on linkedin even

 

[happyjohn]

Based on what I’ve found and been able to verify, Safety Technology Company Limited, the company listed behind MoneyCollect, is not registered as a financial service provider, SVF, or with the HKMA.

Because of that, I would be very cautious about using this service.

 

[daniels27]

I can see a couple of employees on LinkedIn.
https://www.linkedin.com/company/moneycollect-payments/

For banking, it seems that they use DBS Hong Kong (with a SG SWIFT Code), hence they will not have any banking licence themselves.
https://docs.moneycollect.com/docs/wallet/global-collection-account

 

[ilke]

I can see a couple of employees on LinkedIn.
https://www.linkedin.com/company/moneycollect-payments/

For banking, it seems that they use DBS Hong Kong (with a SG SWIFT Code), hence they will not have any banking licence themselves.
https://docs.moneycollect.com/docs/wallet/global-collection-account

They should still hold a money lender (can be adjusted to conduct payment services), MSO, or SVF license somewhere, yet the listed entity of the site has none of them.

Well, I presume they have something if DBS truly works with them. But it is strange to not publish any licenses and have the legal agreement on the site with an unlicensed entity.

From the images of the currency exchange tool and the open account details page, it seems to have the same text and controls as the Airwallex platform. So they might be running on their BaaS service (which does issue via DBS).

 

[fredouille1973]

yes it is a bit tricky, I managed to get a bank account there.. to be connected to the bank directly they must be regulated somehow. they told on whatsapp that they are

 

[derogsearch]

ja, es ist ein bisschen knifflig, ich habe es geschafft, dort ein Bankkonto zu eröffnen. Um direkt mit der Bank verbunden zu werden, müssen sie irgendwie reguliert werden. Sie sagten auf WhatsApp, dass sie

is it not just for locals fromChina?
on site they say its only for people from china

Where is your resident? And is the crypto exchange really as easy as it is shown in the video? they seem to tolerate it

 

[fredouille1973]

is it not just for locals fromChina?
on site they say its only for people from china

Where is your resident?

dubai. they opened.

 

[derogsearch]

dubai. they opened.

thank you. can you possibly say what exactly was “tricky”?
It certainly looks interesting as they have an integrated crypto wallet and exchange

 

[fredouille1973]

thank you. can you possibly say what exactly was “tricky”?
It certainly looks interesting as they have an integrated crypto wallet and exchange

product is in did interesting, tricky is can't find the proper exact licence and their answers on this are unclear.. on another hand they open accounts directly with a bank, it can't be unofficially

 

[fredouille1973]

https://www.trustpilot.com/review/moneycollect.com doesn't look good