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]

Howl1337 said:
So, recently got a small conversation with xprobanc.com.
Click to expand...

you posted an email address ?

Last edited: Jan 18, 2022
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[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.

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This is the probably the answer to your question.

 

[a112114]

Admin said:
you posted an email address ?
Click to expand...

@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.

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This is the probably the answer to your question.

 

[Marie Manila]

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

 

[JohnLocke]

Marie Manila said:
The email address is still in Admins quote of post #2.
Click to expand...

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

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[XproBanc]

Howl1337 said:
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?
Click to expand...

Howl1337 said:
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?
Click to expand...

Hi Howl1337,

This is the Support Team of XproBanc.

Please allow us to bring forward that we are fully regulated by the FCA as we operate as an agent of Nium Fintech Limited which is an Electronic Money Institution 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 the solutions and services under our Xprobanc brand.

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

To answer your questions:

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

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

It is a 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 about XproBanc and the authenticity of our services, you are most welcome to contact Nium or the FCA.

Regards,

XproBanc Support

 

[XproBanc]

Sols said:
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.
Click to expand...

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 Nium Fintech Limited which is an Electronic Money Institution 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 the solutions and services under our Xprobanc brand.

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

XproBanc is part of a larger group of companies that will be providing EMI, Crypto currency exchange, card Acquiring and processing and Crypto Exchange processing. Each segment will be named with the prefix ”˜Xpro'.

The Xprobanc name was selected 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 our EMI platform.

Regards,

XproBanc Support

 

[Sols]

XproBanc said:
Please be advised that XproBanc is fully regulated by the FCA since we operate as an agent of Nium Fintech Limited which is an Electronic Money Institution authorised and regulated by the FCA with FRN 901024 for the issuing of electronic money.
Click to expand...

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.

XproBanc said:
We would like to bring to your attention that we hold all the required licences to operate in the financial industry.
Click to expand...

What licenses do you hold yourself?

XproBanc said:
We hope that this clear your doubts on the choice of the name of our EMI platform.
Click to expand...

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

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This is the probably the answer to your question.

 

[a112114]

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

 

[jafo]

a112114 said:
@XproBanc you look more and more like a scam by not answering these questions.
Click to expand...

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!

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