xprobanc.com is a scam?

[a112114]

Hello guys,


I'm thinking about starting my own list with suspicious financial companies.

So, recently got a small conversation with xprobanc.com.

They are like registrars who give you a dashboard and connect new accounts when your current account gets ..... (paste your own reason)

So, what is suspicious for me:
1) Onboarding fee that I have to pay upfront
2) Too poor website (including additional actions to hide website from google)

_________________________________________________________________________________________________________________________________________________________________________________________


But might be I'm mistaken, so want to ask if someone has experience with them?

Last edited by a moderator: Jan 17, 2022

 

[JohnLocke]

you posted‌ an email address ?

 

[Sols]

While I wouldn't want to comment on whether it's a scam or not, my general‌ rule of thumb is that if it contains the word banc, at the very‍ least it's absolute garbage.

Banc unlike bank, banque, banco, and so on is not⁠ a word in any major language that means bank/financial institution, so it's a sneaky way⁤ to call yourself something very similar to a bank without running afoul of certain regulations⁣ that prevent using words such as bank without holding a banking license.

 

[a112114]

@Admin CRAP, let me‌ change it to the domain or please remove the email

This was not professional on‍ my side

 

[Sols]

Email address removed.

 

[Marie Manila]

The email address is still in Admins quote of post #2.

 

[JohnLocke]

thank you for making me aware of it... removed the link.

 

[XproBanc]

Hi Howl1337,

This is the Support Team of XproBanc.︅

Please allow us to bring forward that we are fully regulated by the FCA as︆ we operate as an agent of Nium Fintech Limited which is an Electronic Money Institution︇ authorised and regulated by the FCA with FRN 901024 for the issuing of electronic money.︈

We have agreements in place with Nium and Orenda Financial Services Limited to offer the︉ solutions and services under our Xprobanc brand.

We are definitely not registrars that provide a︊ dashboard with accounts. Our accounts are fully backed by custodian banks and we offer unique︋ IBANs and debit cards (Visa and MasterCard)

To answer your questions:

1)Please be advised that︌ there are no upfront onboarding fee. As per industry practice, we request an account opening︍ application fee upon successful onboarding by our compliance team.

For compliance, potential clients are requested︎ to provide a full list of KYC documents along with supporting documentation.

It is a️ rigorous process and fees are payable only upon approval of the compliance team.

2) Being‌ a start-up, we are constantly revamping and updating our website to optimize the customer experience.‍ There are no barriers or filters to hide ourselves from Google or any search engine.⁠ As a matter of fact, we are investing heavily in SEO so that our website⁤ becomes more visible to potential clients

Additionally, we would like to bring to your attention⁣ that any information on our staff or their respective email addresses on this forum or⁢ any other forum can lead to legal actions.
If you need any additional information about︀ XproBanc and the authenticity of our services, you are most welcome to contact Nium or︁ the FCA.

Regards,

XproBanc Support

 

[XproBanc]

Hi Sols,

This is the Support Team of XproBanc.

Please be advised that⁢ XproBanc is fully regulated by the FCA since we operate as an agent of Nium︀ Fintech Limited which is an Electronic Money Institution authorised and regulated by the FCA with︁ FRN 901024 for the issuing of electronic money.

We have agreements in place with Nium︂ and Orenda Financial Services Limited to offer the solutions and services under our Xprobanc brand.︃

We would like to bring to your attention that we hold all the required licences︄ to operate in the financial industry.

XproBanc is part of a larger group of companies︅ that will be providing EMI, Crypto currency exchange, card Acquiring and processing and Crypto Exchange︆ processing. Each segment will be named with the prefix ‘Xpro’.

The Xprobanc name was selected︇ to reflect our EMI activities. Other segments will have similar keywords with the prefix ‘Xpro’.︈

We hope that this clear your doubts on the choice of the name of our︉ EMI platform.

Regards,

XproBanc Support

 

[Sols]

You are not fully regulated. Nium Fintech Limited is, though.

Just to be⁠ clear, there's nothing wrong with being an agent/whitelabel of another institution. It's a perfectly fine⁤ business model.

What licenses⁢ do you hold yourself?

I didn't intend to︁ besmirch your company in particular. But I've seen far more malicious use of the term︂ banc than I have seen good use, hence my earlier concern.

 

[a112114]

@XproBanc you look more and more like a scam by not answering these questions.

 

[jafo]

Well, that escalated quickly! 😳
They have been MIA since June 2022.‍ No posts. Nothing. No Google reviews. No Trustpilot reviews.
Whois on their domain name follows:⁠
Updated Date: 2021-09-08T15:31:09Z
Creation Date: 2021-08-31T06:44:10Z
Registrar Registration Expiration Date: 2023-08-31T06:44:10Z

Supposed to expire this⁤ August.

Caveat Emptor

 

[clemens]

Don't waste your time with them!