EU IBANs for everyone!
i personally dont think anybody besides top3-4 names is credible enough
and even they sometimes f up
and even they sometimes f up
Good point. Have you asked the FCA why they have not then if its the case? Situation also could be more serious than we realise .
The FCA will not help here as both of you already pointed out, but a lawyer may be the solution or what do you think?It is the same with the case of Ipagoo, since a year ago the FCA prohibited them from making transfers because the segregated accounts of the clients' funds were less than the total.
So far, the FCA also has not forced Ipagoo to proportionally reimburse the funds that were available to customers.
I have been saying it for a long time the FCA is of no use for the protection of clients.
The FCA wouldn't just allow money to be held for so long without initiating return to customers unless the problem is very very serious.
P.S The unlikely situation is they can't find all the client funds as some have been embezzled
Anyone in some eastern european basement can do it. Especially with the method of lax compliance to lure in client deposits into the platform. Suddenly you're sitting on dozens of millions of shady money that probably won't even be reported if you made a run for it.
I call it the Rietumu Bank technique . Epayment has a clause also in their terms and condition that I mentioned already here that allows them literally to legally steal £50,000 from your balance i.e:
"10.3 You shall pay us the sum of £50,000 (Sum) on demand or we may deduct this Sum from the balance of your ePayments Account without notice if you use your ePayments Account and/or the Services in connection with any industry or activity that is set out in our prohibited activity list on our Website."
Well, this makes sense, but on the other side, ePayments had great business which earns a lot of money, why someone would jut 'bury' such business? I am not sure, that is just what is on my mind.Haha there you go, that's probably why the FCA doesn't even seem to want to bother with them now. 1) Money's gone and 2) Taking them to court and proving they stole funds would be quite expensive. Not worth the efforts.
Well, this makes sense, but on the other side, ePayments had great business which earns a lot of money, why someone would jut 'bury' such business? I am not sure, that is just what is on my mind.
Well, as I can see nothing happens with ePaymens, everybody forgot about them
What do You think, did they done this to use situation related to COVID-19 virus, I mean they have a good timing in that sense, so what do You think about that?
Well, this makes sense, You described ePayments scenario I would say...A lot of closures happened conveniently during the pandemic, law enforcement is busy and inefficient in most countries, governments work in limited capacity so its complicated for them to bust anyone who does anything elaborate at all.