Bank of Asia BVI / Snowy pay

[BTCNG]

Hello all

I checked the option to open an account with Bank of Asia BVI (for an offshore croporate). Opening an account with them is not cheap as you can see here: https://www.bankasia.com/fees
When I asked them about the ability to do wire transfers, they said that the way they will do it by creating an account with one of their payment portals - Snowy pay.
Does someone knows this service? Is it a scam? Will the funds in the bank be safe?
I only saw this thread, but I'm not sure it's the same case:
https://www.offshorecorptalk.com/threads/snowy-pay-uk-iban-whitelabel.28799/
Will appreciate your advice.

 

[TS1]

Its not a scam, but not impressed. Its been over a year since my last experience with them so I do not have up to date information. Who are the other correspondents?

 

[Sols]

Bank of Asia have had problems with correspondent accounts since the very beginning. I'd stay away.

Toggle signature
This is the probably the answer to your question.

 

[BTCNG]

Any other advise?
So basically, I shuold stay away?
Its funny due to the high cost of account setup.

 

[Martin Everson]

All very sad that Bank Of Asia still not resolved correspondence banking issues. Not sure why they didn't go with nesting transactions with another more established payment provider.

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.