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TRX

Corporate Services
Mentor Group Gold
Elite Member
Just after I funded my Mister Tango account and after I have been a customer for a year without troubles then this shit hit my mail box:

Dear Client,

As the financial institution, we have an obligation to comply with our regulators’ requirements. In order to fulfill our KYC and AML policies and ensure the smooth flow of transactions, we are asking for collaboration.

Please provide information about the source of your income (salary, income from self-employment, securities/dividends etc.)? Please provide your statements supporting documents.

N.B. In order to ensure the sustained flow of your transactions, please, respond to compliance questions from the same email you have opened an account with.

Please note, that in case of no communication within 24 h from your side, your transaction will be rejected. Thank you very much for understanding and kind answers to our standard questions

Compliance department/Atitikties skyrius
[email protected]
UAB "Mistertango"

I wonder why they can't send this before I fund my account and before I try to withdraw my money!!!! This smells like a huge "legal" fraud!! It's a way to force people to provide the documents if they want their funds released.

I also bet on that many will lose the fight against this Latvian operation and have to write of their money which they calculate on!

Many here on the forum recommend Mister Tango! I ca only warn you don't have any money on your account with MT they steal your money.
 

void

Entrepreneur
I was one of the happy customers of mistertango and was recommending them for a long time. Things have changed recently. The fact they lost their card provider was a bad sign and warning. Now they are closing accounts for no good reason, using standard phrases like "lack of cooperation" after 3 documents were provided for given payment (requested one by one during two weeks). It all ended with requesting my personal tax declaration for the last year which had nothing to do with the case. I rejected which was what they were waiting for - account closed immediately. Waiting 6 weeks now for refund of the last "problematic" payment although they declared a few times that it was already sent.
Maybe it's just some classic envious wanker working in compliance team that saw I'm making in one year what he can't make in his whole productive life... but I'd say it's more serious and they are going down. Don't let there more than a few bucks.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Things don't look good for MT. Perhaps they have an audit coming ;).

Issues I see:

1. They are again changing their fee policy starting on Dec 17th 2018. Anyone noticed? :(

https://www.mistertango.com/en/wp-content/uploads/MT-pricing.pdf

2. They sent me updated new terms and conditions that start from 7th Feb 2019. I have not bothered to read whats in it a I stopped using their service a while back but was always happy with their service.

3. They had cancelled all cards from Nov 1st 2018 without a real reason.

Bottom line I would be careful using their service hi%#. A financial company having to deal with crypto and AML is not easy in 2018.
 

void

Entrepreneur
Let's put it straight... their service was for too long too cheap and too perfect. Nothing is for free and every fairy tale has its end. Personally I'm surprised that it lasted so long.
They owe me pretty big money right now and I'll be very happy if I get it back - even if I'll do the time spent with the case made the service very expensive after all - lesson learned again ;-)
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Yup....looks like the party is nearly over. I dare not use MT in future as I will kick myself if they block my money. I dodged the bullet with satabank and leopay saga so I don't need that type of drama right now.
 
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KJK

Entrepreneur
I also bet on that many will lose the fight against this Latvian operation and have to write of their money which they calculate on!

Many here on the forum recommend Mister Tango! I ca only warn you don't have any money on your account with MT they steal your money.
First of all, Mr.Tango is based in Lithuania, not Latvia!

Also they have no reason to steal your money and probably they couldn't care less. You just reached a threshold or had an incoming transaction from a specific sender that triggered this KYC/AML. They are just doing what they are required to by the law (and the law got stricter this year by the way).

So I recommend you send them what they require. My experience is their compliance is much better to communicate with than many other similar online wallets / EMIs / banks.
 

John Spectre

Entrepreneur
I agree with KJK.
MT compliance much easier and better than with traditional banks.
Having some illegal or dark things with MT doesnt mean that MT is bad.

If im not mistaken, Lithuania made few sanction changes against Russia some time ago. So if clients are connected to Russia somehow, it could be reason for compliance troubles.
 

void

Entrepreneur
So I recommend you send them what they require. My experience is their compliance is much better to communicate with than many other similar online wallets / EMIs / banks.

half a year ago I'd confirm every single word
nowadays it's not true any more - they are asking for ridiculous things waiting for you "mistake" - can't speak for others but my source of funds is perfectly legit and I shared much much more than was comfortable for me - it simply wasn't enough
the amount that caused the problem was about 4% of my total turnover in the last two years
I'd bet something is going on there recently

and the support is replying once a week now... maybe my account has a big black mark
 
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blizz

Mentor Group Gold
I'm not Russian and I have not made a million with their so called banking platform. Even though they requested me the exact same as OP. I have provided them with endless documents which they requested even I told them there was no reason to ask for my employment agreement! They simply closed the account and I'm still waiting for the money exactly as @void has to do.

This is not a financial institution Mister Tango is one big fucking Rip OFF!!

I wonder if @KJK and @John Spectre work for Mister Tango. From their posting I could believe they do!
 
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Admin

Forum Moderator
Staff member
Elite Member
As I wrote in another thread, I have a similar situation with Mister Tango and I would recommend people to be very careful using Mister Tango as their favorite EMI / account provider.

An electronic money institute that behave like Mister Tango does is not operating healthy.

You can do the math, they claim to have 100K customers already, this is a growing number. If they frequently can send out the requesting e-mail to say just 1000 of their customers that hold, say, 1500 EUR/USD on their account, AND, they from experience know that at least 300 will fail to provide what they request then it’s 450,000 euro they can put in their pockets.

I believe the figures I put in there are very low and in real live this is way more.

This is a big business which they legally can slip away with and no one can do anything.

That said, a regulated BANK would not be able to do that, they will be forced to shut down accounts and send deposited funds immediately to the customer in question without any delays.

That’s just my thoughts.
 

happyjohn

Corporate Services
Mentor Group Gold
Business Angel
Entrepreneur
You need to pay attention to the fact that this is not a bank. You work with a operation in Lithuania, they have made a whole country living from financial crime! Now some sort of junk ass figured out that this is a perfect way to make a few millions extra each month for Mister Tango.

Don't be surprised, don't put all your eggs in one basked and do precautions !

Their service is good as long as they don't request this information to steal your money, but can you run a business in the fear of when they will take your money.
 

Admin

Forum Moderator
Staff member
Elite Member
Okay and the story continues at my end!

Second e-mail request as per below! I asked them direct in a simple question what will happen if I refuse to provide the requested information and if they will send my money and close the accoutn or just keep the money!
Please provide print screens from the main crypto exchanges that You have made the biggest turnover. We should see Your name and the turnover (extract of the trades would be perfect). We need this information because we need to validate Your statement that You have invested 8k euros and made some activities in 2015-2017

Let's see how they respond to this! Will update this thread as we are doing progress coo-:!y
 

Admin

Forum Moderator
Staff member
Elite Member
This is going to be funny.
Mister Tango ignore my first and most important question, what will happen with my money if I don't want to answer your your questions, then they start asking contradiction questions as per below:

  • Please provide a wallet address where You have initially bought XX BTC
  • What do You mean by "just forth and back on different wallets" and "mentioned trades are not made on any exchange"?
The blow is tbe most funny, they got an employee contract / agreement where they can see that I get a monthly salary!

Also, what is related to XX COMPANY, please confirm if we are correct that You are employed at this company but You are not even receiving any salary, You are paying for Your employer so they can invest money? What is the economic purpose of that activities?

I told them to answer my first question: What will happen with my money if I refuse to answer the questions and provide the documentation they require, so here is the answer:
It is possible that the process of the account closing can be initiated, in that case, all the money would be returned to Your chosen bank in the end.

So now I will tell them to close the account and return the money, let's see where this is going.
 

Admin

Forum Moderator
Staff member
Elite Member
@void - sorry to hear that.

Yes, let's see smi(&% If so I will try to call the local police and tell them they stole my money! Maybe they can do somethindoh948"" The account is in my name all legal so I have nothing to worry. Let's see what happens.
 

TRX

Corporate Services
Mentor Group Gold
Elite Member
It's something @Admin you got fast reply while I got no reply yet! I will ask them to close my account and also return my money like you did. Let's see what happens.

People STAY AWAY FROM MISTER TANGO it is a illegal operation!
 

void

Entrepreneur
@void - sorry to hear that.

Yes, let's see smi(&% If so I will try to call the local police and tell them they stole my money! Maybe they can do somethindoh948"" The account is in my name all legal so I have nothing to worry. Let's see what happens.

same here, however this probably won't lead anywhere
I sent an email to CEO - which I don't believe will read anyone else than the support but it's maybe worth a try

they have a regulatory institution, maybe this is the way, however for me it's probably not worth spending more time with this scum

looking at trustpilot it's falling apart, everybody just RUN
 
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