Caye International Bank - Did they just scam me? (Caye vs Transferwise)
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I think TransferWise did the ACh transfer automatically based on the indicated bank details.
Dodgy that Caye Bank don't reply to the refund request or it's not possible to locate the money.
Avoid this old school offshore banks like the plague. No retail banking at all - no day to day banking possible.
Dodgy that Caye Bank don't reply to the refund request or it's not possible to locate the money.
Avoid this old school offshore banks like the plague. No retail banking at all - no day to day banking possible.
I contacted the CFPB in the US (as suggested by Transferwise) and they responded with:
Very scary that they cant do anything either. The CFPD︂ did however recommend I hire a private attorney which is what I will do. So︃ basically Transferwise requested the money was returned and was denied with no reason given, the︄ CFPD doesnt handle these issues or worse cant even locate the company involved, Caye refuses︅ to return the money or respond to my emails, and it looks like ill have︆ to get lawyer to get it back (if I even can). Absolutely disgraceful behavior/service. At︇ least I learned this lesson before transferring a large amount of money into a Caye︈ account which I guess is a positive. Im going to be super careful now with︉ the offshore bank I choose.
| We reviewed your complaint and weren’t able to forward it to the company for a response either because the︀ company is not on our complaint system, or because we do not currently handle complaints︁ about this product or issue. |
Very scary that they cant do anything either. The CFPD︂ did however recommend I hire a private attorney which is what I will do. So︃ basically Transferwise requested the money was returned and was denied with no reason given, the︄ CFPD doesnt handle these issues or worse cant even locate the company involved, Caye refuses︅ to return the money or respond to my emails, and it looks like ill have︆ to get lawyer to get it back (if I even can). Absolutely disgraceful behavior/service. At︇ least I learned this lesson before transferring a large amount of money into a Caye︈ account which I guess is a positive. Im going to be super careful now with︉ the offshore bank I choose.
All my friends are using currently Transferwise, I am thinking to open an account there as well.
Don't want to︆ blame Caye but it looks shady.
They have to use some weired Correspendent Banking even︇ to keep the transfers alive and already had no correspondence in the past.
Forget about︈ this classic offshore banks nowadays - it's not 2000 anymore.
They have to use some weired Correspendent Banking even︇ to keep the transfers alive and already had no correspondence in the past.
Forget about︈ this classic offshore banks nowadays - it's not 2000 anymore.
I had two separate bank accounts and a TransferWise account. After I got the borderless transferwise debit mastercard I bascially had no use for the bank accounts anymore and never use them. Transferwise's card, app, purchase notifications, customer service etc is so good. About 2-3 times I did have problems with card at a few Atms but that was quickly resolved. Other than that no probs but I still hold a traditional bank account with some funds to be safe.
100% Caye needs to be blamed, but lets just say it is a genuine mistake and not shady. Ive run businesses before and inconvenienced clients with unforeseen problems. It happens in business as operations breakdown occasionally, but its how you deal with it thats important. Whenever this happened to my clients I turned it around so that︀ they actually benefited from my issues so they were even happier. Caye in the last︁ 3 months should have at least called me, apologized and promised to return my funds︂ immediately siting problems with the operations. I would have been ok with that. But they︃ literally said they cant help me and stopped email contact. It wasnt until I blasted︄ them on here that they replied (which again speaks to their integrity) and fed me︅ some bulls**t about "oh sorry, we didnt reply because we though you had your money".︆ How these clowns got a banking license is beyond me.
I am neither stupid, nor do I work for Caye Bank. I have used offshore banks for 25 years and earn a 7 figure dollar income.
I have had very good experiences with Transferwise, and also with some UK, IoM and Singapore banks; and also with Caye bank too. They are reassuringly strict about taking on new customers and doing the level of due diligence that makes me comfortable banking some︀ of my money with them.
The fact that you ignore their clear requirement not to︁ send funds by ACH says everything.
I read this forum to read about the current︂ state of offshore banking, and sometimes to read deluded posts from people who get upset︃ over $1000. If you were professional, you could have had a PTR wire trace performed︄ by the sending bank.
I have had very good experiences with Transferwise, and also with some UK, IoM and Singapore banks; and also with Caye bank too. They are reassuringly strict about taking on new customers and doing the level of due diligence that makes me comfortable banking some︀ of my money with them.
The fact that you ignore their clear requirement not to︁ send funds by ACH says everything.
I read this forum to read about the current︂ state of offshore banking, and sometimes to read deluded posts from people who get upset︃ over $1000. If you were professional, you could have had a PTR wire trace performed︄ by the sending bank.
If thats your deduction after reading this thread in its︃ entirety then you absolutely are stupid. Probably willfully ignorant too. And btw, you started the︄ personal attack.
Its only 1k but its the principal. And actually, your arrogance has given︅ me a great idea:
If you're so rich, intelligent, principled and confident in your assertion,︆ lets make a 6 figure bet on who is dogey and at fault. Im serious.︇ Lets define the rules, set up a escrow (perhaps on the blockchain) and winner takes︈ all. I was intending on handing this over to my lawyers on Monday if my︉ funds aren't returned but ill wait so we can set up our rules/bet and then︊ ill hand it off to them. Shortly after that a clear legal outcome will be︋ defined. What do you say? You can remain anonymous if we do on the blockchain.︌
Its only 1k but its the principal. And actually, your arrogance has given︅ me a great idea:
If you're so rich, intelligent, principled and confident in your assertion,︆ lets make a 6 figure bet on who is dogey and at fault. Im serious.︇ Lets define the rules, set up a escrow (perhaps on the blockchain) and winner takes︈ all. I was intending on handing this over to my lawyers on Monday if my︉ funds aren't returned but ill wait so we can set up our rules/bet and then︊ ill hand it off to them. Shortly after that a clear legal outcome will be︋ defined. What do you say? You can remain anonymous if we do on the blockchain.︌
We can make it a mid to high 5 figure bet. Im serious. This can easily be done. Would be nice to get something out of this debacle. But just dont tell Mummy and Daddy you keep blowing your inheritance and also dont send me my winnings through Caye. I dont want to have to wait 3+ months to get it.
Yes I did. Sorry should have followed up for those interested. If I didnt make a fuss I really dont think I would have got it back, certainly not for a long time. They apologized and tried to blame something so I suspect they wont take this opportunity to learn and improve their business. I hate that sort of unaccountability. Personally I always accept the blame, appease the customer and try and improve my systems. They just blamed something and said sorry like a D grade operation. At least I learned this lesson before︀ banking with them.
There is a reason why a serious Bank like Mau Bank declined.
Caye Bank is bottom line solution. If you don't can get any other banking. Banking will be a pain like you see from the post here.
Maybe you re-think your whole setup or take the risk banking with Caye that will be most likely very time consuming.
Caye Bank is bottom line solution. If you don't can get any other banking. Banking will be a pain like you see from the post here.
Maybe you re-think your whole setup or take the risk banking with Caye that will be most likely very time consuming.
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