Caye International Bank Belize scammed me for initial deposit

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adrian92

New member
Hi there,
I would like to tell my story here to warn others who might be considering Caye International Bank in Belize to open a corporate bank account.
In late 2021 I have set up a trading company and was looking for banks offering remote opening of corporate accounts in USD. One of those banks was Caye bank in Belize, which seemed to set reasonable requirements. I got in contact with their client service and quickly collected all the papers they have asked. I had an active email exchange with a responsive bank representative, and in early January 2022 I had answered all their questions, filled all the forms and have sent all the necessary papers. I have also wired them an initial deposit of 1300 USD from my personal account and have then provided a bank statement confirming that the deposit was made from my own account. Deposit was wired on January 7th, 2022, and on January 25th I had received comments to some of the papers and a number of questions, which I have replied to the very next day. After that I have not been able to get any kind of response from the bank. In early February I dropped an email asking if they have received the previous email and got no response. By the end of February I dropped another message asking if there are any updates on account opening. Seeing that there is no response I started looking on the web if anyone else has encountered this with Cayebank and that's when I found this website and this thread: Caye International Bank - Did they just scam me? (Caye vs Transferwise)
Even thought the issue was not identical in the thread, the applicant did got his deposit back so I thought that the Cayebank seems a legit business and might need a bit more time to process all the client paperwork.
In March 2022 I applied to another bank to have a USD corporate account with so I decided to cancel my previous application with Caye International Bank in Belize and on March 22nd I have emailed them that I want to withdraw my application and would like to have my deposit back. But same as since January 24 I had not received any single line of response or even an out-of-office or similar automatic response. Since then I attempted to contact their client service and complaints department but have not received any kind of feedback whatsoever.
To be honest I cannot believe that Cayebank would scam applicants for their initial deposit so blatantly, especially considering that the deposit is only 1,300 USD, but what is the issue with not responding to any emails or messages.
I wonder if anyone here currently has an active relationship with them and what would be the right course of action here? Should I seek legal help or get in touch with financial authorities in Belize?
 

JohnnyDoe

Mentor Group Gold
Nothing new here, it happens all the times. Lawyers will cost you more than the money you lost. Better to move on and write off this loss.
 
Hi there,
I would like to tell my story here to warn others who might be considering Caye International Bank in Belize to open a corporate bank account.
In late 2021 I have set up a trading company and was looking for banks offering remote opening of corporate accounts in USD. One of those banks was Caye bank in Belize, which seemed to set reasonable requirements. I got in contact with their client service and quickly collected all the papers they have asked. I had an active email exchange with a responsive bank representative, and in early January 2022 I had answered all their questions, filled all the forms and have sent all the necessary papers. I have also wired them an initial deposit of 1300 USD from my personal account and have then provided a bank statement confirming that the deposit was made from my own account. Deposit was wired on January 7th, 2022, and on January 25th I had received comments to some of the papers and a number of questions, which I have replied to the very next day. After that I have not been able to get any kind of response from the bank. In early February I dropped an email asking if they have received the previous email and got no response. By the end of February I dropped another message asking if there are any updates on account opening. Seeing that there is no response I started looking on the web if anyone else has encountered this with Cayebank and that's when I found this website and this thread: Caye International Bank - Did they just scam me? (Caye vs Transferwise)
Even thought the issue was not identical in the thread, the applicant did got his deposit back so I thought that the Cayebank seems a legit business and might need a bit more time to process all the client paperwork.
In March 2022 I applied to another bank to have a USD corporate account with so I decided to cancel my previous application with Caye International Bank in Belize and on March 22nd I have emailed them that I want to withdraw my application and would like to have my deposit back. But same as since January 24 I had not received any single line of response or even an out-of-office or similar automatic response. Since then I attempted to contact their client service and complaints department but have not received any kind of feedback whatsoever.
To be honest I cannot believe that Cayebank would scam applicants for their initial deposit so blatantly, especially considering that the deposit is only 1,300 USD, but what is the issue with not responding to any emails or messages.
I wonder if anyone here currently has an active relationship with them and what would be the right course of action here? Should I seek legal help or get in touch with financial authorities in Belize?
Hi Adrian92, many apologies for the experience you have received to date and could you please email: [email protected] with the personal or corporate name you used for the application so that this can be looked into and solved ASAP?
 
Last edited:

adrian92

New member
Hi, thank you for the quick response. I have just emailed the details of my application.
Update to my post.



A Caye bank representative quite quickly replied to my email and she explained the reasons why my relationship manager stopped responding to emails. After I declined offers for alternatives so I could stay with the bank, she had notified me that Caye bank will return my initial deposit. Once I filled out the form the bank wired me the funds on Friday and today I have received them back to my account, minus the return wire fee of 100 USD and petty commission at my personal bank.

So after all this ended well. Thanks to the Caye bank representatives and members of this forum for their support and advice.
 

uplana

Corporate Services
Mentor Group Gold
Caye Bank is not a scam operation. I am in relation with a top executive from this bank and none of my clients have been unhappy so far.
maybe you get in touch with OP and can help him sort the situation out. That would be damn good for your image branding ;)
 

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