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Choice Bank of Belize faces liquidity problems
- Thread starter Caporaso and Partners
- Start date
oh ok, thank you very much. I'll try to ask them and see if i get any information from them. Did they give you taht information when you asked them?
Just read my post above. I asked MyFirstChoice today and got all the info I need. Also,If Payoneer and Firstchoice aren't the same company (I don't know) but i think that they are or used to be. At least is clear that both companies partner with Choice Bank . Few years ago Payoneer transferred most of their previous clients and encouraged them to use firstchoicepay instead of payoneer . Both companies have the same info about their clients and if you signed first with payoneer and after that they transferred you to myfitstchoice then is 100% sure that firstchoicepay can answer to your general questions . So feel free to ask them and don't miss out on getting all the help u can because they will shut down their phone lines, costumer service and website Oct 1st.
how did you contact them? i tried sending them a message but they have preset questions and you can't write anything, you just get an automatic reply.
Make sure u go live chat with support representative by using the help menu from ur online account ->support chat ->section->live chat or reach out to them via phone . They don't offer 24/7 online chat so make sure you chat with them in their working hours. Not sure if emailing them will give you fast and significant results, Good Luck
it worked eventually, i'm talking to someone right now from payoneer, found out the date and they said that the account type is balance account. Is that what they told you too?
You have to ask for an updated account statement and it will take some time.The one in may is to old.Since then you had managing fees etc.Only in their pdf you can see the balance.
'
I did it last week and this is the live chat with the support and the email they sent to me:
Status: Connected
Julian (Listening)
Julian: Hello and welcome to Firstchoice Pay customer care! My name is Julian and I would be happy to assist you! Please bear with me for a few moments while I pull up your information from our system. I will be right with you.
Me: ok
Julian: Hello!
Julian: How may I help you?
Me: I have funds from my firstchoicepay account frozen by Choice Bank, now the Liquidator published the forms to make the claim
Me: and they are telling us to send documents to proove all
Julian: I will be happy to check this for you. Before we proceed, please provide some details for identification.
Julian: Please provide me with your date of birth in the US format (Month/Day/Year).
Me: Supporting Documents
Upload all the relevant documents to support your claim against Choice Bank Limited such as-
(a) Identification Documents (e.g. passport, deed polls, business registration and incorporation documents),
(b) Contract between you and Choice Bank Limited (deposit account, loans, service contract),
(c) Copy of Invoices issued to Choice Bank Limited,
(d) Statements of accounts,
(e) Copy of documents showing any collateral held or pledged,
(f) Other written evidence.
Documents are to be authenticated/ notarized. Do not send original documents.
Me: ……
Julian: who asked you to provide this?
File attachment upload has started.
The file 00 General-Instructions-Claim-Forms.pdf (198.72KB) was received.
File attachment upload has started.
The file 00 Claim-Form-4-Unsecured-Prepaid-Cardholder.pdf (291.77KB) was received.
Julian: I am looking into this for you. One moment please.
Me: the Liquidator Cedric Flowers, named by the Central Bank of Belize
Me: http://www.choicebanklimitedinliquidation.com/en/wp-content/uploads/2018/08/Public-Notice-Claims.pdf
Julian: Thank you. for holding
Me: thank you
Julian: unfortunately since we no longer work with Choice Bank, you would need to contact them in regards to this form
Me: But they need the contract between Firstchoice pay and me
Me: where is that?
Julian: since we no longer work with choice bank , we would not be able to provide that, if you contact them they will be able to assist you better
Me: they are asking us for this documents
Me: Choice Bank Authority is the Liquidator Cedric Flowers
Me: we need to provide him this documents
Julian: ok, i will transfer this issue to my department and we will see what we can provide
Me: great
Me:
Me: Thank you
Julian: Is there anything else I can help you with?
Me: no
Me: thank you
Julian: You're welcome.
Julian: It was a pleasure helping you. If you have another spare minute I would appreciate you filling the survey as my performance is being valued by it. You will see it when you press the "Disconnect" Button. I'd be more than thankful if you took the time to fill it.
Me: I'll be waiting
Response 08/10/2018 05:07 AM
Thank you for contacting us. We understand you have further questions regarding the remaining funs in your Firstchoice Pay account. Unfortunately we cannot assist you with this matter.
Mr. Cedric Flowers was appointed as liquidator of Choice Bank Limited with effect from July 3rd, 2018. The liquidator should provide further information and instructions to Choice Bank’s customers and creditors. The liquidator can be reached at [email protected].
Please contact Choice Bank or Mr. Cedric Flowers in the email above for further assistance.
Thank you,
Daniel
Customer Care
Reference Number: 180809-011111
As Axe said, it is a liquidation.
You are now called creditors, and the list of creditors is surely long.
Unfortunately you are not the priority of the liquidator, employees, taxes authorities are yes and more surprising the liquidator fees before you.
You may receive back part of your funds but it will be a very little one. If choice bank had all the money needed, then there would be no point to be in liquidation .
So now what to do?
You can sue the owners for scam liquidation if it is.. but forget about money, it s only for your personal revenge.
You can also wait and see, filling their form and sitting in front of good movie with pop corn, but forget about money.
You can say ok it s over, I played I lost , it s the game. And now go ahead , make money and even more than what you lost.
You are now called creditors, and the list of creditors is surely long.
Unfortunately you are not the priority of the liquidator, employees, taxes authorities are yes and more surprising the liquidator fees before you.
You may receive back part of your funds but it will be a very little one. If choice bank had all the money needed, then there would be no point to be in liquidation .
So now what to do?
You can sue the owners for scam liquidation if it is.. but forget about money, it s only for your personal revenge.
You can also wait and see, filling their form and sitting in front of good movie with pop corn, but forget about money.
You can say ok it s over, I played I lost , it s the game. And now go ahead , make money and even more than what you lost.
Still it was a force liquidation. So they should ve think about it before they did it...
Almost zero money, than why would they do it?
What contract you talking about ?
I will fill the form , i will send my passport and statement and i will wait for their reply where they will say isn t good . i will try again and probably after that i will give up)
I will fill the form , i will send my passport and statement and i will wait for their reply where they will say isn t good . i will try again and probably after that i will give up
)I agree with david.If there were enough money it wouldn t be in liquidation now as he and I said before. They will start paying in full each type of creditor to the next and the next.If money ends at some point you can be left with NOTHING.
So you understand, it s not a percentage each category of creditor gets.So first line gets 100%, the next maybe 100, the next after this maybe 40 or nothing.
So you understand, it s not a percentage each category of creditor gets.So first line gets 100%, the next maybe 100, the next after this maybe 40 or nothing.
This is the bad point @Axe
I have no clue how much customers money they had but if it comes to the point that there is nothing left, I can t imagine that a bad investment make this damage.
When you invest you invest with your own money... If they used customers money , the file is closed. It s called a bad governance or a scam, you can choose the one is better for your ears.
I have no clue how much customers money they had but if it comes to the point that there is nothing left, I can t imagine that a bad investment make this damage.
When you invest you invest with your own money... If they used customers money , the file is closed. It s called a bad governance or a scam, you can choose the one is better for your ears.
I don't think there will be ppl left with nothing. Yes secured costumers will be payed first and probably in full ....for the rest of us they will probably distribute part of the funds and let's hope equally . That is the law for any international bank. Every international bank (secured and non secured) is required by the international banking law to set aside % of all the money as liquid in case something bad happens. There should be no scenario like not getting at least part of ur money back ...if you have legal account, legal money in there and proof for that you get what you get. How much exactly as for now is unknown . Based on what they will distribute after failing ur claim will determine if you need to take any further legal actions against them in court . Yes a lot of people are suffering from the whole situation but in the end we work hard and we will make more money and eventually recover but bad country reputation and corruption like in Belize will have much harder times recovering. Let's wait and see what happens and if not satisfied from the government and what ur getting back make sure u don't sit quiet .
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