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So Day #2 and no peep from Satabank. Also nobody I know who is eligible, got contacted.

And to directly answer the question: I've no intention to use a Maltese Bank any time soon.

I'm using transferwise for now, and am in the process to use a bank outside of Malta (Handelsbank) for my companies funds. I only have small number of clients and no end customer business. So its easy for me to convince banks to take my business.

So heads up: I was not contacted today by SataBank. Despite the fact my private account qualifies for the first round.

As maltese resident, and my private account at 100€ balance (I stopped using it month ago) I'll be able to document the first stage release process. Just to be on the safe side I'll probably openly record and stream the meeting. If they refuse this I'll come back with lawyer / ..., they should...

I got the same thought, my business is 100% legit, and everything is well documented. Also I visited the US multiple times this year, so I think I'm fine. they could have snatched me at the border if they wanted.

I suspect that these payment providers have "big" emoney accounts at satabank. And My business account is more in the area of that pensioner ;), and far more important than this 100€. I'm only lucky that I'm a resident so I do not have to wait for whatever process they come up for non...

So first time I'm in luck, I'm a maltese resident. Will let everybody know how it goes. I've got a private account (100€ balance) eligible for the current distribution round. Will post a brain dump of the procedure I experience. My business account does not qualify for the current round.

So being a sceptic person. Here is the link to the statement by the MFSA: https://www.mfsa.com.mt/pages/readf...vember 2018/UPDATE ON SATABANK 22 11 2018.pdf I see very specific wording in there. Quoting (dunno how to do real quotes in this forum): ``` The first customers will be selected from...

Now there are multiple news sources claiming the deposit release process will be started Nov 26: MFSA says first set of Satabank deposits to be released - Newsbook First group of Satabank clients to get funds back on Monday Sadly only customer groups between 50 and 15000 eur balance. Which...

Just lots of rumors, nothing of substance.

Did someone else notice they missed to publish todays "Weekly update"?

Satabank pay €689 an hour for competent person This is interesting wording: > “Prior to the [MFSA's directive] of 20 October, the bank continued to meet its financial prudential requirements, was liquid and operating well above its minimum regulatory capital ratios. The bank's liquidity was...

Innocent until proven to have friends in government positions to help out :P

I hear you. My mind constantly switches between the following hypothesis: * They are working in a legit state of total emergency, and the lack of communication stems from that fact, as they have more important things to deal with * They are fundamentally incompetent, and the lack of...

A few weeks in "malta space time" ;) I'd bet 2019.

@Martin Everson Thanks for your additional research.

Did SATABANK even have a loan business?

So lets assume there are not enough assets. Lets go with 50% for a thought experiment. Now: Which type of deposit gets preference when covering the banks debt? Lets go through each player: * Satabank officials themselves? Nave nothing to say (anymore). * EY: Appointed by the MSFA, so is not an...

I know the common theory. And I 'hope' its turns to be that case. But the current behavior does not give me reassurance that this is actually the case. Their press releases do tell me they have a distributed transaction fuckup. Their focus at this point seems to be to consolidate the open...