Our valued sponsor

Blackcatcard migration - difficulties with incoming/outgoing SEPA transfers

I think you got confused, they can't issue a card with a vanity name; it's illegal.

What some EMIs can do is a vanity name IBAN.
Straight from the app:

BLACKCATCARD FAMILY
1 Get the card for your partner/spouse or other family member in just few clicks!
2 No boring registration, just select the name on the card and phone number for SMS notifications.
3 Card will be linked to your bank account and you can set it's own spending limits.

BLACKCATCARD
1 An additional card is linked to your account, but it can be linked to a different phone number and have a different nickname written on it.
2 Flexible option to manage your spendings.
3 You can use it as a backup emergency or just set a tight limits and use, for example, to shop in internet.
4 To get the card choose the name written on it and type in the delivery address
 
  • Wow
Reactions: jafo
Straight from the app:

BLACKCATCARD FAMILY
1 Get the card for your partner/spouse or other family member in just few clicks!
2 No boring registration, just select the name on the card and phone number for SMS notifications.
3 Card will be linked to your bank account and you can set it's own spending limits.

BLACKCATCARD
1 An additional card is linked to your account, but it can be linked to a different phone number and have a different nickname written on it.
2 Flexible option to manage your spendings.
3 You can use it as a backup emergency or just set a tight limits and use, for example, to shop in internet.
4 To get the card choose the name written on it and type in the delivery address
I highly believe this is illegal, banks cannot issue cards in someone's name without going through KYC.

I've seen this being offered by several EMIs only for Corporate Accounts where you can supposedly issue cards in employees' names and I even questioned the legality of it.

But with Personal Accounts, that's 99.9% illegal.
 
I highly believe this is illegal, banks cannot issue cards in someone's name without going through KYC.

I've seen this being offered by several EMIs only for Corporate Accounts where you can supposedly issue cards in employees' names and I even questioned the legality of it.

But with Personal Accounts, that's 99.9% illegal.
You're right. There are no regulations in place regarding the name on the card but card issuers have it mandatory in their long list of requirements.
 
I asked for dormancy fees during this time:

Dear customer, the transition to a new payment provider has been successfully completed, but the new IBAN assignment is executed in batches due to the technical complexity of the process.

In case if the new account details have already been assigned you can see them under the "Transfer" - "Account Top-up" section and use for sending and receiving SEPA transfers.

If new account details have no been assigned yet you will see the message "Account creation in process..." under this section, in this case we kindly ask you to wait for our notification. You will be informed via email and in the app when the migration process is completely finished and you can view your new account details.

We kindly ask you do not use your old IBAN account (MT...) for receiving and sending transfers. Payments that have been made using your old IBAN account will be returned to the sending party.

Our provider assigns a new IBAN with one of the following prefixes: LT, GB or NL. Prefixes are set automatically by the provider without the ability to select.

As other BlackCatCard services are running at full capacity and ready for immediate use, commissions are charged in accordance with our rates. You can view the detailed information in the app, on the "Settings" screen, "My tariff" section, as well as on our home page Pricing

We kindly thank you for understanding!
 
Do you really think they are coming back? Who would use them now?
Their business model is very attractive and attracting many new people to the cryptographic world. They also have Gekkard, so i'd be surprised if they abandoned their golden goose. Perhaps it's just a chaotic event in their career which will be quickly forgotten if they manage to restabilize themselves with a new partner for SEPA.
 
Last edited:
  • Like
Reactions: vehzag and ilke
Their business model is very attractive and attracting many new people to the cryptographic world. They also have Gekkard, so i'd be surprised if they abandoned their golden goose. Perhaps it's just a chaotic event in their career which will be quickly forgotten if they manage to restabilize themselves with a new partner for SEPA.
From Gekkard's site:

"No additional AML compliance***"

Explanation:

"*** After passing the AML compliance at Gekkard, the customer gets access to Gekkoin investment products, with no additional checks. The compliance is headed by Papaya, Ltd."

Papaya has a bad history: Malta-based fintech firm whose former director was sanctioned by the US slapped with FIAU fine

From the article: "The firm was fined €279,756 for breaching anti-money laundering rules"

It is impossible to not perform any additional checks on any of the clients, all firms are expected to do continous checks and failure to do so can take their licenses away.
 
  • Like
Reactions: EU220
Perhaps it is precisely because of the small tweak they made to their payment card that they are now having problems! Or is Blackcatcard back to normal operation?
 

Latest Threads