Leupay blocked account

[achwaqkhalid]

Lol I can assure you that your assumptions are completely wrong so let me clarify to you the reasons why Leupay had to move away from Satabank to iCard:

1 - If you're a Satabank direct client you might have received an email in the previous months indicating that because of their card issuer (Probably Wavecrest) under pressure from VISA and Mastercard are no longer allowed to issue cards to non Euro region residents. Leupay operates in more than 190 countries and there is no way they're going to lose 70% of income just because of a card issuer

2 - under current legislations Malta rules are not in favor of Cryptocurrency and because of that they have had many issues with Bank partners providing US dollar liquidity in the past (check Leupay blog for update on this matter) hence they had to move to icard in Bulgaria

The good news is according to PM Minister the regulatory framework is currently being worked on and all these should be sorted in the upcoming months (Joseph Muscat on Twitter ) see here also (Silvio Schembri on Twitter )

Going back to the main issue! Dude 200k per month running full frontal towards the radar and you don't want them to check the nature of yours business. That's impossible PayPal would have flagged you as a high risk account at 5K. But if your business is really CLEAN as you claim I wouldn't worry too much about it but then again here you're stating that you are going to shut down your business (a business that provides 200k per month ) just because you run into issue with an online service. Just this on itself should rise many red flags because to them you're just a guy behind a computer that they've never met in person to know more about. I know some crypto folks in Twitter who move total sums close to that but they've never had any issue with Leupay because the source is known: an Exchange the likes of Coinbase kraken or BitBay but you my friend your business is in the shadow so once again if your case is clear flood them with emails and be persistent with that + add a bit of patience

Good luck

 

[David97255]

200 k turn over is not 200 k profit. Yes I may bankruptcy because I own money to suppliers and can't pay them.
Yes they never saw me like they never saw any of their customers.
I sent tons of email and what if they don't answer?
I cannot call anymore their customer support because it s a call center that doesn't know nothing.
Yes my business is clean so clean that I can travel to them.
But where? My lawyer letter to their registered adress came back to him.
With the good ads you make about them maybe you work for them and then I ll be happy if you help me sort it out.

 

[achwaqkhalid]

"Wih the good ads you make about them maybe you work for them"

See!! If this is the kind of replies that you have spent your time emailing them I doubt you will get any response

 

[David97255]

Of course my friend.

Maybe it s enough when someone says he got a problem that we answer him he s the problem.
6 monthes I have blocked money and it s almost everything for me. I pay each month what I can to my suppliers..
Yes a bit tired

 

[achwaqkhalid]

I totally understand how frustrating that can be! I've been in that situation with PayPal that's why I suggest to you to be persistent and also try to reach them via Twitter. I wish I could help but being myself just a client there is nothing much I can do but give you advices

 

[Rachel Brown]

Imo your account could be still with SATA bank Malta so thats why they forwarded it. Something similar happened to me, I have Wirex (e-coin) account they were with wavecrest for Visa cards and such things, I paid 500euro and was scammed, the support of Wirex were good with me especially one guy Aleksei, however, since Visa terminated all wavecrest cards and wavecrest terminated their relations with crypto companies, we raised a charge-back but without any success (3-4 months already passed) and I was told situation is complicated and they almost give up on my charge-back.
I believe same happened with LeuPay. Also LeuPay support and main company is in Bulgaria (I believe) and here 200k a month is a very very very serious amount of money, considering the fact regular salary is 400-500euro (sometimes 300 euro) per month. So can you imagine how much is 200k euros here? They most probably are pissed with your transactions and afraid they could get into a trouble with National revenue agency and such financial organizations and regulators.

 

[diablo]

Leupay was from the beginning shady to use. I jumped to AdvCash when they had the card and now I'm with Revolut and Mister Tango.. I have never found a better service!

 

[David97255]

I completely agree that 200k per month with an Emi it s not smart.
We begun with less sales of course. Then I was regular to leupay and liked their fast wire transfers.
I think I ll use a better lawyer and try all the legal ways.
I have a question , I read there that emi's or bank are frozing or blocking account. At the end they just keep the money for theirself? It s sounds a stupid question but really I m curious

 

[Martin Everson]

Hi to the Leupay salesmen that joined forum last Wednesday (achwaqkhalid) promoting Leupay across the web like you did over here recently and probably on more forums:

replace domain in link with bitcoin talk (dot) org. Seems website link gets removed :-(

Regardless of whether you are affiliated with them or not great to see a balanced argument for Leupay I have no issue with Leupay and Satabank and have accounts with both. I am not trying to damage their business just pointing out facts and preventing people from taking risks with EMI's that are opaque in operation and have issues.

1. Leupay cards are issued by icard entity and not Satabank. So how does moving to Leupay business to Bulgeria help?

2. The cryptocurrency de-risking of Leupay activity away from Satabank makes sense. However, Satabank has lost USD correspondence banking before in their short history - even without crypto activity....lol Leupay has also ran away from Luxembourg before and now ran from Malta while Satabank is under investigation. Whenever their operations come under scrutiny they move country....lol. Not a good sign i'm afraid. I am not sure why Satabank was granted a banking license as they really only offer e-money accounts with ZERO deposit protection (expect one business account type) not deposit accounts with deposit protection.

3. I don't remember such an email from Satabank as you describe. It has perhaps been sent to certain clients it affects but I could be wrong and it went to a spam folder.

 

[achwaqkhalid]

There is no way they can keep the money for themselves! There are plenty other cases where people were able to take those Fintech companies to the court, get their money released and even pay for the damage. The problem with you is that you will have to fly between Bulgaria, Malta and perhaps the UK since there are a lot of investors involved in Leupay as far as I know. But you can't just be doing this all by yourself. You need to get your other partners to bother/call them too

 

[achwaqkhalid]

Hi self proclaimed detective! Soooo amateurish of you to make those foolish claims, salesman you said!! Well I wish. That way at-least they wouldn't have terminated my Leupay Wallet account although I have to stress that they did transfer the left balance to my main Leupay account at that time so I'm not really that frustrated as David although I miss NFC payment all this without even explaining why

Coming back to your "Salesman" accusation! Say you wanna be détective !! Didn't they teach you that it helps to ASK instead of blindly ASSUME? You can just think of me as that little kid that just happen to find out about a new toy and so happy with it that he's screaming about it everywhere and wants everybody to know about it. That's me. Where I live I've been waiting for years for NFC payment to come to my country. So imagine how happy I was when I discovered that there is actually a solution that offers all that in one package without relying on a 3rd party service like Apple or Google Pay.

 

[achwaqkhalid]

BTW!! Instead of terminating your business why don't you open an Icard account directly without passing through Leupay because they seem to offer lower SEPA transfer fees compared to Leupay and have NFC built-in https://play.google.com/store/apps/details?id=eu.mobile.icard

NB: I haven't yet tested them with crypto exchanges but if cryptocurrency is not your playing field I suggest you give it a try.

 

[achwaqkhalid]

You might also wanna try Monese, Revolut, Monzo, StarlingBank and TransferWise just keep in mind that these companies operate in the UK and therefore are FCA regulated which means no Crypto green light for now

 

[achwaqkhalid]

Also:

N26 in Germany

Bunq in the Netherlands

Dopocket in Poland

 

[David97255]

I m not sure I understand your point. I don't want to bankruptcy but unfortunately the amount blocked is big and since 6-7 monthes. So I can't retain suppliers to make legal action against me. I won't travel in all those countries without knowing where they really are.
But of course will try all I can to make them release my money and pay damage. In legal ways of course

 

[Martin Everson]

I don't understand that shill achwaqkhalid either.

@David97255 Not worth travelling I cannot work out the ownership structure of Leupay. I know the controlling party is Christo Georgiev. He is director of Signia Holdings. If you look a paradise papers for Signia Holdings it is connected all over the place from Switzerland to Jersey :-(

SIGNIA HOLDING LTD | ICIJ Offshore Leaks Database

Let your lawyer deal with it and hopefully you can find the right country, company and where your funds are actually held now to pursue them. I still hold my account but knowing they now want to deal with bitcoin I moved my funds.

 

[David97255]

I don't understand that shill achwaqkhalid either.

@David97255 Not worth travelling I cannot work out the ownership structure of Leupay. I know the controlling party is Christo Georgiev. He is director of Signia Holdings. If you look a paradise papers for Signia Holdings it is connected all over the place from Switzerland to Jersey :-(

SIGNIA HOLDING LTD | ICIJ Offshore Leaks Database

Let your lawyer deal with it and hopefully you can find the right country, company and where your funds are actually held now to pursue them. I still hold my account but knowing they now want to deal with bitcoin I moved my funds.

Very nice structure... Well built at my eyes. Unfortunately it doesn't make me feel secure

 

[David97255]

Update and need advice.

we tried many calls to Malta court, myself and my lawyer . we have been asked to provide case number ( file number ) or name of the judge in Malta in charge of our file. With the name of my company they got no result.
So we just asked leupay to provide us this case number or the name of the judge, nothing exceptionnal at my eyes.

Our request to Leupay :
Dear Miss and Mister,

This is our second mail.
In a previous mail you told us to go to Malta court to check about or blocked money.
We are in France , we called many times but they don't see nothing , they ask us to provide any case number or any name of the person in charge of the case.
Please provide us one of them.

Regards

Leupay's answer to me and same to my lawyer:
Dear Sirs,

We would like to inform you once again that we cannot provide you with such information. We could only recommend you to contact directly the courts of Malta, providing your personal details.



Kind Regards,


I dont know what to do ?? any adivce?

 

[Martin Everson]

Well this does not sound good and appears to be out of Leupay hands. If I was to guess now, it maybe your company or one of your counter-parties is on an OFAC/EU or some other global sanction list. A name of a company/person associated with your dealings must have turned up in Thompson Reuters World Check when Leupay or auditors did a check. Remember Satabank has been implicated in illegal oil sales from Libya and even innocuous businesses like restaurants where added to sanctions list because of association. I am not implying your business has anything to do with that but there must be something serious associated with your company that worries them.

Watch your step when dealing with US sanction targets, economic operators urged

You could check yourself that your company and your counter-parties are not sanctioned by checking OFAC website and other public EU and global sanctions registries for all people and companies you dealt with. Then speak directly to regulators as an EMI like Leupay would be required to report such incidents to the regulators firstly and not the courts I believe. The regulators will then refer to courts if needed. One of my clients once had a customer buying food products from him. One customer turned out to be on a sanctions list against his knowledge. He ended dealings with the company once he realized. The bank however did not terminate or freeze his account as it was discovered early by the trade finance department of the bank.

Good luck and hope you find the reason for the frozen account.

 

[David97255]

Many thanks for your help.. I ll try all you said. Must find out why