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Blackcatcard migration - difficulties with incoming/outgoing SEPA transfers
- Thread starter cobewi8981
- Start date
Well, regardless of any possible scenarios re: Blackcatcard: If I were you, I would do really my best to open some another account elsewhere. Having only one banking alternative is really hazardous in general nowadays, unfortunately. (I do not like it; but it's a reality.)
(I haven't a BCC account, so cannot tell more about the situation there.)
Oh well. And nobody advised you to open one more account with some another fintech, at least as a backup... Sad.
To be honest, I have somehow overlooked the word “thousand” in your phrase “bank account with several hundred thousand euros”, so I have not got how bad the situation really is – sorry
In such a case, it is really worth considering to consult a local lawyer. From what I have seen, Blackcatcard is not in a bankruptcy, they just lost their banking relations. (Even if they went bankrupt, your money should be protected in a ring-fenced account, BTW.) Anyway, your money cannot be seized, you did not do anything bad. So it's just about finding the way how to pull it from BCC...
(And really, for the current business, open an another account as quickly as you can. Do not overlook that it is well possible you will reach the situation that BCC will not be able to re-activate your account but just send your money to some other account of yours. As for the recommendation, you have more options; my first bet would be Intergiro – they are accepting new clients again, AFAIK, or perhaps Verifo; both have nothing against Maltese companies.)
Oh well. And nobody advised you to open one more account with some another fintech, at least as a backup... Sad.
To be honest, I have somehow overlooked the word “thousand” in your phrase “bank account with several hundred thousand euros”, so I have not got how bad the situation really is – sorry
In such a case, it is really worth considering to consult a local lawyer. From what I have seen, Blackcatcard is not in a bankruptcy, they just lost their banking relations. (Even if they went bankrupt, your money should be protected in a ring-fenced account, BTW.) Anyway, your money cannot be seized, you did not do anything bad. So it's just about finding the way how to pull it from BCC...
(And really, for the current business, open an another account as quickly as you can. Do not overlook that it is well possible you will reach the situation that BCC will not be able to re-activate your account but just send your money to some other account of yours. As for the recommendation, you have more options; my first bet would be Intergiro – they are accepting new clients again, AFAIK, or perhaps Verifo; both have nothing against Maltese companies.)
What is in this bank account... Is the income of my company in the last 3 years, everything is there... Luckily 6 months before this bad event , I moved to another country and incorporated everything there so I was not using these funds at all and I was just waiting to take them as dividends, too late...So actually is like: I literally waste 3 years of business as they are stucked in their bank account...
I managed to withdraw more than 100 k€ at almost zero costs since April by topping up accounts like Zen with my BCC card. By the end of the week my account will be emptied to an amount of less than 1000 € which I'm going to keep there in order to still receive the 4 % reward bonus payment. And in the hope that one fine day SEPA transfes will start working again.
I have 4x times the balance there.
I also asked to increased the limits of BCC cards without any luck, they simply don't want reply.
If I could just increase the limit from 2.000 to something more higher I would move everything to any Crypto exchange...
Yes, it is an unpleasant situation – yet (IMO) not as bad as it looked before this explanation: you do not need the money stuck with BCC for your operation and/or living... And again, hopefully you will not lost it forever.
A smart recipe
Nevertheless, have you not lost 1-2% when topping up another accounts? (I mean, on the side of the receiving account.) Of course, for 100k it would be probably cheaper than any lawyer anyway 
Well, yes... so just wait, or engage a lawyer
(BTW, just as a side-note: An EMI like BCC is usually not meant for storing 6 figures there long-time. It's an operational account. Some EMIs, e.g. Currenxie, even complain when there is some remarkable amount and no transactions on the account.)
#BingooooooooooA smart recipe
This is what I call genius-level boots-on-the-ground resourcefulness. This was masterly played by @octnick
They haven't asked about the top-ups yet but they might do so anytime, I guess. I don't see why it should be unsafe.
As I already wrote, the top-ups cost me practically nothing. The Zen Platinum Plan for 6.9 € per month includes unlimited free top-ups for most cards. BCC is one of them. After a few weeks with daily top-ups up to 5k, the card ceased to work. BCC claimed that it were defective and said that they would send me a new one. But after a few days they said it should be working again. So it does since then, but the daily limit since then is 1k despite the setting in the app which is 5k/d. But as they still pay the 4 % bonus timely each month, I don't mind. Transfer from Zen to my normal bank account via SEPA also works flawlessly.
Like I wrote, by the end of the week I am through with this chapter. I then plan to annoy Tompay a bit as they feign ignorance and don't react to my emails.
As I already wrote, the top-ups cost me practically nothing. The Zen Platinum Plan for 6.9 € per month includes unlimited free top-ups for most cards. BCC is one of them. After a few weeks with daily top-ups up to 5k, the card ceased to work. BCC claimed that it were defective and said that they would send me a new one. But after a few days they said it should be working again. So it does since then, but the daily limit since then is 1k despite the setting in the app which is 5k/d. But as they still pay the 4 % bonus timely each month, I don't mind. Transfer from Zen to my normal bank account via SEPA also works flawlessly.
Like I wrote, by the end of the week I am through with this chapter. I then plan to annoy Tompay a bit as they feign ignorance and don't react to my emails.
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They haven't asked about the top-ups yet but they might do so anytime, I guess. I don't see why it should be unsafe.
As I already wrote, the top-ups cost me practically nothing. The Zen Platinum Plan for 6.9 € per month includes unlimited free top-ups for most cards. BCC is one of them. After a few weeks with daily top-ups up to 5k, the card ceased to work. BCC claimed that it were defective and said that they would send me a new one. But after a few days they said it should be working again. So it does since then, but the daily limit since then is 1k despite the setting in the app which is 5k/d. But as they still pay the 4 % bonus timely each month, I don't mind. Transfer from Zen to my normal bank account via SEPA also works flawlessly.
Like I wrote, by the end of the week I am through with this chapter. I then plan to annoy Tompay a bit as they feign ignorance and don't react to my emails.
Does Zen also support crypto to make some investment with these Top UP?
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I was with them and after I have discovered few month ago that they lost their IBAN, the debit card was not working any more in Cyprus in no store and nearly no other option to send money was working on their website I was able to exchange all my account balance in-app to cryprocurrency via their baltic partner and to withdraw all money to my crypto wallet. I was lucky to run away without financial damage
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