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Anyone can confirm?
Both emails are from two different adult network but i can't find any other information
We have been notified today by FirstChoice Pay that their parent company Choice Bank is currently in a position that they must put a temporary hold on all payments made by FirstChoice Pay. We have been told that all FirstChoice pay cardholders should withdrawal any funds from your account as soon as possible. At this time we are unsure if FirstChoice Pay will resume regular service and the timelines involved. We ask any models or agents to please contact us to choose an alternative payment method until we can work out a permanent alternative payment solution.
Below is one of the messages sent to us by Choice Bank
Dear Accountholder,
Due to recent developments involving the prepaid card component of our international banking business, Choice Bank Ltd. (“the Bank”) has been forced into a temporary liquidity constrained position.
With a view to enable the Bank to manage cash flows in an orderly fashion to work through the current liquidity situation, in the interest of depositors and other creditors as a whole, the Bank has taken the decision in its view as a matter of necessity, with immediate effect, to temporarily suspend all withdrawals from deposit accounts with the Bank and other outbound payment activities (save for payment of employees, suppliers essential for core operations, consultants and advisers) until the Bank and/or its relevant regulatory authorities (as the case may be) are satisfied that such suspension is no longer required.
The Bank maintains a strong balance sheet with total equity including paid up capital and accumulated retained earnings in excess of US$26 million, a most recent reported regulatory capital ratio of 26.92%, and statutory liquidity ratio of 74.59%, such ratios significantly exceeding all statutory capital adequacy and liquid asset requirements. The liquidity challenges the Bank currently faces is truly a short-term one. As it progresses through this process, the Bank is confident that all its depositors, cardholders and creditors will be kept whole.
We thank you for your patience and understanding and apologize for any inconveniences caused
Below is one of the messages sent to us by Choice Bank
Dear Accountholder,
Due to recent developments involving the prepaid card component of our international banking business, Choice Bank Ltd. (“the Bank”) has been forced into a temporary liquidity constrained position.
With a view to enable the Bank to manage cash flows in an orderly fashion to work through the current liquidity situation, in the interest of depositors and other creditors as a whole, the Bank has taken the decision in its view as a matter of necessity, with immediate effect, to temporarily suspend all withdrawals from deposit accounts with the Bank and other outbound payment activities (save for payment of employees, suppliers essential for core operations, consultants and advisers) until the Bank and/or its relevant regulatory authorities (as the case may be) are satisfied that such suspension is no longer required.
The Bank maintains a strong balance sheet with total equity including paid up capital and accumulated retained earnings in excess of US$26 million, a most recent reported regulatory capital ratio of 26.92%, and statutory liquidity ratio of 74.59%, such ratios significantly exceeding all statutory capital adequacy and liquid asset requirements. The liquidity challenges the Bank currently faces is truly a short-term one. As it progresses through this process, the Bank is confident that all its depositors, cardholders and creditors will be kept whole.
We thank you for your patience and understanding and apologize for any inconveniences caused
We have been informed by FirstChoicePay / Payoneer that they have completely shut down their payment services, and are effectively out of business. All of their customers' funds, including over $100,000 of our payroll funds, have been frozen by their bank, Choice Bank Limited of Belize indefinitely (please see http://www.xbiz.com/news/234907/choice-bank-suspends-withdrawals-from-deposit-accounts).
First let me assure you that any money owed to you will be paid out as soon as we find an alternative payment solution. If you need your money immediately, please send us your PayPal info, and we will do our best to pay you with PayPal. If you can wait a week or two, we are working with a new payment processor to be able to send you a pre-paid Visa or MasterCard debit card, and then re-fill it with your pay each week. You will then be able to use this card at ATM's to withdraw your local currency or for purchases anywhere. I will keep you posted as soon as this solution becomes available.
In the meantime, I strongly advise you not to use Paxum or Epayments, as we have received word that they too were customers of Choice Bank, and may have had their funds frozen. I know this is very inconvenient for you, but please rest assured that your money is safe, and we will send it to you as soon as we have a way of doing so. Thank you very much for your patience and understanding.
First let me assure you that any money owed to you will be paid out as soon as we find an alternative payment solution. If you need your money immediately, please send us your PayPal info, and we will do our best to pay you with PayPal. If you can wait a week or two, we are working with a new payment processor to be able to send you a pre-paid Visa or MasterCard debit card, and then re-fill it with your pay each week. You will then be able to use this card at ATM's to withdraw your local currency or for purchases anywhere. I will keep you posted as soon as this solution becomes available.
In the meantime, I strongly advise you not to use Paxum or Epayments, as we have received word that they too were customers of Choice Bank, and may have had their funds frozen. I know this is very inconvenient for you, but please rest assured that your money is safe, and we will send it to you as soon as we have a way of doing so. Thank you very much for your patience and understanding.
