Is SatchelPay reliable?

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katalizator

New member
I've just created a business account on SatchelPay. I want to use it for my business. Next week I need to receive 50K USD. Do you think it's safe to receive such payments on this emi? As far as I know they don't have good reputation but it's licensed emi.
Will you rely on this emi?
 

Gediminas

Offshore Tax Advisory
Mentor Group Gold
Commercial Service
Business Angel
I've just created a business account on SatchelPay. I want to use it for my business. Next week I need to receive 50K USD. Do you think it's safe to receive such payments on this emi? As far as I know they don't have good reputation but it's licensed emi.
Will you rely on this emi?

Hey, 50k isn't a high amount for the business account. You should be fine.

I don't have any experience with this EMI, though.
 

CaLViN

Active Member
Have an account with them but havent started using.
They dont have cards.
I dont trust them.I just feel that.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Will you rely on this emi?

Have a good read through these threads below. You need mentor group access to read the first one so worth getting if you plan on receiving 50k via them.


 

alexor424

New member
I'm working with them for around 2 years- i haven't had any problems with them.
Support is quite nice russian-speaking girls.
 
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Does anyone know how I can get funds back from my business account with Satchel that were sent (allegedly) from my account to a UK bank. Satchel claim it was sent correctly, but the funds have gone missing. I have requested a recall of the payment, but it was issued weeks ago and they have not given any timeframe for resolution or even proof that a recall was issued. I have raised a formal complaint and have had no response. I contacted the Central Bank of Lithuania and they have said because it is a business account, they won't do anything. It seems to me that they have just stolen the funds.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Does anyone know how I can get funds back from my business account with Satchel that were sent (allegedly) from my account to a UK bank.

Did you instruct the transfer from business account?

Satchel claim it was sent correctly, but the funds have gone missing.

If I understand correctly that Satchel sent it correctly following your instruction to do so then why should they care after it left their system successfully unless you want further action? They can't control what receiver or even certain intermediaries do with the funds unless they guarantee delivery of funds in their terms and conditions.

I have requested a recall of the payment, but it was issued weeks ago and they have not given any timeframe for resolution or even proof that a recall was issued.

If Satchel initiated a recall then it can take sometime depending on where funds actually are.

What currency and amount did you send?

It seems to me that they have just stolen the funds.

I wouldn't assume that although my views about the company are not positive.
 

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