BONI in Nevis having regulator problem ?

[Weary]

Dear everyone,

Does anyone here have a bank account at BONI (Bank of Nevis International Limited) ?

A partner of mine has a bank account there in Nevis, and the outgoing transactions are not possible since October 2021. The bank says they have a correspondent bank problem, but having contacted the company service provider on this matter, they answered it is a general problem with the Regulators.

Does anyone know anything about that ?

Pal, have you received your money?

 

[clemens]

He has not been around since 2022 I doubt he will chime in and leave a comment here. if he has received his money. People tend to only post if something is bad or wrong not once it is solved!

 

[Weary]

I opened an account in January 2022 on the direction of my Asset Protection attorney based on his 15 year relationship with the bank. In February I attempted to wire funds back to the USA on the purchase of property. BONI told me they had a temporary problem with wiring money to the USA, but should have it resolved in a few weeks. It is now late October of 2022 and I still have not been able to have access to my money. They gave me a list of countries they said they could wire to. The Swiss were on the list. I set up an account there. They told me they would have to send the money in Euros. I said that would be fine. Since June of 2022 I have filled out the paperwork for the wire 5 times to Boni's satisfaction. Still nothing. All I have been told is they have "technical issues." They won't tell me what they technical issues are. There is a company called Thunes in Singapore that will handle the wire for them. Thunes tells me they don't have a technical issue and the bank should contact them and they will assist. Boni has not done so. Last week I was emailed by a man saying he is the Chairman of the Board of Boni. His name is Tope Elusogbon. As it turns out he is an attorney in Nigeria. The Regulators of Nevis are no help. Twice we have contacted the Premier of the country and he offered no assistance. Now I find out they lost the ability to wire outward money in October of 2021. The pursued me opening an account after that date fully well knowing I would not be able to get my funds back out. Frankly, at this point I believe BONI has committed wire fraud, and has done this to other people. I believe this is an ongoing criminal enterprise. Does anyone have any suggestions?

did you get your money?

 

[EliasIT]

I'm pretty sure that if he hadn't received his money, he'd still be complaining non-stop here. But since we haven't heard anything more, it seems like he's just one of those people who likes to make a fuss when things don't go as quickly as they'd like.

Try Googling negative reviews for the same service; if you don't find any, then you can probably assume I'm right.

 

[Marios]

= Post copied from another thread =

Well, I have just recalled something...
Read this BONI in Nevis having regulator problem ?

BTW, @Marios, as of Bank Account for Saint Kitts and Nevis IBC, you apparently / probably possess some information re: BONI.
Would you mind to elaborate more on that? Either here or in this thread BONI in Nevis having regulator problem ?

As far as I’m aware, there aren’t any current regulatory issues with BONI. Over the past six years, I’ve introduced several clients to the bank. There was a period when the bank experienced some correspondent banking issues, but from what I understand, those have been resolved.

The last client I introduced was in March, and I haven’t received any complaints from them about any issues. That said, there may be issues that I’m not aware of, and thus I would encourage every client to conduct their own due diligence before proceeding.

 

[AMPM472]

I am still waiting for my money. Is anyone else having issues?

Damn... Any update on your case Weary? I also opened up a company account with BONI in early 2024 and was instantly disappointed. No Cards available to spend company funds even though this was sold to us upon application. Ridiculously difficult process to deposit and withdrawal funds.... not used it since opening.

 

[Tazzer]

I’m currently experiencing issues with BONI. I initially deposited a small amount with the intention of making a much larger deposit later. Recently, I was unable to access my online account, and when I contacted the bank, they informed me they were having technical problems. They offered to send a statement upon request, which I received,it showed the correct balance, minus their fees.

Up until now, their responses have generally been prompt. However, since last Friday, their phone lines have been offline, which they attributed to a local outage. As of today, the phones are still down.

My main concern is with an outbound transfer I requested, which I’ve been told requires internal approval. It’s now been over a week with no confirmation or update. I’ve written to about six people at the bank since the weekend, but I haven’t received any response so far. This lack of communication and resolution is increasingly concerning.

 

[Fred]

I’m currently experiencing issues with BONI. I initially deposited a small amount with the intention of making a much larger deposit later. Recently, I was unable to access my online account, and when I contacted the bank, they informed me they were having technical problems. They offered to send a statement upon request, which I received,it showed the correct balance, minus their fees.

Up until now, their responses have generally been prompt. However, since last Friday, their phone lines have been offline, which they attributed to a local outage. As of today, the phones are still down.

My main concern is with an outbound transfer I requested, which I’ve been told requires internal approval. It’s now been over a week with no confirmation or update. I’ve written to about six people at the bank since the weekend, but I haven’t received any response so far. This lack of communication and resolution is increasingly concerning.

Sounds like the typically Caribbean Shell Bank Banking Experience.

Others in Forum claim that the Owner of the Bank is a major Guy in Gold Industry from Nigeria and the Correspondent Bank from Egypt and Turkey are serious as well.

Most likely you are not the only customer of the bank complaining right now in this moment and they just switched off the lines till the problem is sorted.

Regardless of any IT issues - taking a week to process a Wire Transfer Manual and blaming it on Internal Approvals is mental even for a Caribbean Bank.

If nothing moves forward you should involve a local lawyer like others did here already in the forum with other Banks in Nevis like Hamilton Reserve Bank just search the Forum for it.