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Caye International Bank - Did they just scam me? (Caye vs Transferwise)

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magicmat

New member
If you read their USD transfer information they state very very clearly NOT to attempt an ACH transfer. Caye are not being dodgy, you are.
 

Fred

Dubai Expat
Mentor Group Gold
Commercial Service
If you read their USD transfer information they state very very clearly NOT to attempt an ACH transfer. Caye are not being dodgy, you are.
I think TransferWise did the ACh transfer automatically based on the indicated bank details.

Dodgy that Caye Bank don't reply to the refund request or it's not possible to locate the money.

Avoid this old school offshore banks like the plague. No retail banking at all - no day to day banking possible.
 

travelES

New member
If you read their USD transfer information they state very very clearly NOT to attempt an ACH transfer. Caye are not being dodgy, you are.

Are you serious!? Did you even read the thread. You're either stupid or worse still, work for Caye. Probably both.

They still havent returned my money. Its absolutely unbelievable.
 

travelES

New member
I think TransferWise did the ACh transfer automatically based on the indicated bank details.

Dodgy that Caye Bank don't reply to the refund request or it's not possible to locate the money.

Avoid this old school offshore banks like the plague. No retail banking at all - no day to day banking possible.

I contacted the CFPB in the US (as suggested by Transferwise) and they responded with:

We are unable to send your complaint to the company for a response.​

We reviewed your complaint and weren’t able to forward it to the company for a response either because the company is not on our complaint system, or because we do not currently handle complaints about this product or issue.

Very scary that they cant do anything either. The CFPD did however recommend I hire a private attorney which is what I will do. So basically Transferwise requested the money was returned and was denied with no reason given, the CFPD doesnt handle these issues or worse cant even locate the company involved, Caye refuses to return the money or respond to my emails, and it looks like ill have to get lawyer to get it back (if I even can). Absolutely disgraceful behavior/service. At least I learned this lesson before transferring a large amount of money into a Caye account which I guess is a positive. Im going to be super careful now with the offshore bank I choose.
 

Fred

Dubai Expat
Mentor Group Gold
Commercial Service
I contacted the CFPB in the US (as suggested by Transferwise) and they responded with:

We are unable to send your complaint to the company for a response.​

We reviewed your complaint and weren’t able to forward it to the company for a response either because the company is not on our complaint system, or because we do not currently handle complaints about this product or issue.

Very scary that they cant do anything either. The CFPD did however recommend I hire a private attorney which is what I will do. So basically Transferwise requested the money was returned and was denied with no reason given, the CFPD doesnt handle these issues or worse cant even locate the company involved, Caye refuses to return the money or respond to my emails, and it looks like ill have to get lawyer to get it back (if I even can). Absolutely disgraceful behavior/service. At least I learned this lesson before transferring a large amount of money into a Caye account which I guess is a positive. Im going to be super careful now with the offshore bank I choose.
Don't want to blame Caye but it looks shady.

They have to use some weired Correspendent Banking even to keep the transfers alive and already had no correspondence in the past.

Forget about this classic offshore banks nowadays - it's not 2000 anymore.
 

travelES

New member
All my friends are using currently Transferwise, I am thinking to open an account there as well.

I had two separate bank accounts and a TransferWise account. After I got the borderless transferwise debit mastercard I bascially had no use for the bank accounts anymore and never use them. Transferwise's card, app, purchase notifications, customer service etc is so good. About 2-3 times I did have problems with card at a few Atms but that was quickly resolved. Other than that no probs but I still hold a traditional bank account with some funds to be safe.
 

travelES

New member
Don't want to blame Caye but it looks shady.

They have to use some weired Correspendent Banking even to keep the transfers alive and already had no correspondence in the past.

Forget about this classic offshore banks nowadays - it's not 2000 anymore.


100% Caye needs to be blamed, but lets just say it is a genuine mistake and not shady. Ive run businesses before and inconvenienced clients with unforeseen problems. It happens in business as operations breakdown occasionally, but its how you deal with it thats important. Whenever this happened to my clients I turned it around so that they actually benefited from my issues so they were even happier. Caye in the last 3 months should have at least called me, apologized and promised to return my funds immediately siting problems with the operations. I would have been ok with that. But they literally said they cant help me and stopped email contact. It wasnt until I blasted them on here that they replied (which again speaks to their integrity) and fed me some bullshit about "oh sorry, we didnt reply because we though you had your money". How these clowns got a banking license is beyond me.
 

Fred

Dubai Expat
Mentor Group Gold
Commercial Service
100% Caye needs to be blamed, but lets just say it is a genuine mistake and not shady. Ive run businesses before and inconvenienced clients with unforeseen problems. It happens in business as operations breakdown occasionally, but its how you deal with it thats important. Whenever this happened to my clients I turned it around so that they actually benefited from my issues so they were even happier. Caye in the last 3 months should have at least called me, apologized and promised to return my funds immediately siting problems with the operations. I would have been ok with that. But they literally said they cant help me and stopped email contact. It wasnt until I blasted them on here that they replied (which again speaks to their integrity) and fed me some bullshit about "oh sorry, we didnt reply because we though you had your money". How these clowns got a banking license is beyond me.
Exactly.

After all the shit we have seen with Belize Banks in the past - simply avoid them.
 

magicmat

New member
Are you serious!? Did you even read the thread. You're either stupid or worse still, work for Caye. Probably both.

They still havent returned my money. Its absolutely unbelievable.
I am neither stupid, nor do I work for Caye Bank. I have used offshore banks for 25 years and earn a 7 figure dollar income.

I have had very good experiences with Transferwise, and also with some UK, IoM and Singapore banks; and also with Caye bank too. They are reassuringly strict about taking on new customers and doing the level of due diligence that makes me comfortable banking some of my money with them.

The fact that you ignore their clear requirement not to send funds by ACH says everything.

I read this forum to read about the current state of offshore banking, and sometimes to read deluded posts from people who get upset over $1000. If you were professional, you could have had a PTR wire trace performed by the sending bank.
 

travelES

New member
I am neither stupid, nor do I work for Caye Bank. I have used offshore banks for 25 years and earn a 7 figure dollar income.

I have had very good experiences with Transferwise, and also with some UK, IoM and Singapore banks; and also with Caye bank too. They are reassuringly strict about taking on new customers and doing the level of due diligence that makes me comfortable banking some of my money with them.

The fact that you ignore their clear requirement not to send funds by ACH says everything.

I read this forum to read about the current state of offshore banking, and sometimes to read deluded posts from people who get upset over $1000. If you were professional, you could have had a PTR wire trace performed by the sending bank.

If thats your deduction after reading this thread in its entirety then you absolutely are stupid. Probably willfully ignorant too. And btw, you started the personal attack.

Its only 1k but its the principal. And actually, your arrogance has given me a great idea:

If you're so rich, intelligent, principled and confident in your assertion, lets make a 6 figure bet on who is dogey and at fault. Im serious. Lets define the rules, set up a escrow (perhaps on the blockchain) and winner takes all. I was intending on handing this over to my lawyers on Monday if my funds aren't returned but ill wait so we can set up our rules/bet and then ill hand it off to them. Shortly after that a clear legal outcome will be defined. What do you say? You can remain anonymous if we do on the blockchain.
 

magicmat

New member
Dogey? Some kind of DOGE coin bogey? Let everyone know how it goes 'with your lawyers'. Make sure you post the letter online so everyone can see it. Sheesh what a tool.
 

travelES

New member
Dogey? Some kind of DOGE coin bogey? Let everyone know how it goes 'with your lawyers'. Make sure you post the letter online so everyone can see it. Sheesh what a tool.

We can make it a mid to high 5 figure bet. Im serious. This can easily be done. Would be nice to get something out of this debacle. But just dont tell Mummy and Daddy you keep blowing your inheritance and also dont send me my winnings through Caye. I dont want to have to wait 3+ months to get it.
 

jung187

New member
We can make it a mid to high 5 figure bet. Im serious. This can easily be done. Would be nice to get something out of this debacle. But just dont tell Mummy and Daddy you keep blowing your inheritance and also dont send me my winnings through Caye. I dont want to have to wait 3+ months to get it.
Did u get ur money back?
 

Vor

Mentor Group Gold
Belize is known to be a terrible jurisdiction for awhile now, not sure why you thought sending money to there was gonna end well.
 

Fred

Dubai Expat
Mentor Group Gold
Commercial Service
Belize is known to be a terrible jurisdiction for awhile now, not sure why you thought sending money to there was gonna end well.
Yes - even clients from latin america I met in person mentioned to me they would never ever consider Belize for banking.
 
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travelES

New member
Did u get ur money back?

Yes I did. Sorry should have followed up for those interested. If I didnt make a fuss I really dont think I would have got it back, certainly not for a long time. They apologized and tried to blame something so I suspect they wont take this opportunity to learn and improve their business. I hate that sort of unaccountability. Personally I always accept the blame, appease the customer and try and improve my systems. They just blamed something and said sorry like a D grade operation. At least I learned this lesson before banking with them.
 

Lononista

New member
So Cayebank are dodgy? Or not? Ive just set up in the Seychelles (normal IT business) & the broker has applied to Caye Bank on my behalf after Mau bank said no. Looks like I need to avioid?
 

Fred

Dubai Expat
Mentor Group Gold
Commercial Service
So Cayebank are dodgy? Or not? Ive just set up in the Seychelles (normal IT business) & the broker has applied to Caye Bank on my behalf after Mau bank said no. Looks like I need to avioid?
There is a reason why a serious Bank like Mau Bank declined.

Caye Bank is bottom line solution. If you don't can get any other banking. Banking will be a pain like you see from the post here.

Maybe you re-think your whole setup or take the risk banking with Caye that will be most likely very time consuming.
 
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