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Mister Tango s**t service

#81
#83
fanban said:
Who is trusting Trust Pilot at all? it's the same as posts here you never know what each persons reason is for the bad experience!
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So you don't trust Trust Pilot or peoples feedback here on the forum.
So why bother ask the question here in the first place...lol? :rolleyes:
 
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#86
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#87
My business account is due for bulls**t questions.

Corporate account opening supporting documentation

Bold is mine.

List of documents:

1. Extract from the register or Incorporation document not older than 3 months, must be in English or Lithuanian and duly authorised by the Notary or also with apostille attached or legalised (see here: Notary and Apostille/legalization);
2. Articles of Association (Statute) or equivalent document governing the management of the company, must be in English or Lithuanian and duly authorised by the Notary or also with apostille attached or legalised (see here: Notary and Apostille/legalization);
3. Copy of the Director's ID or passport;
4. Power of Attorney (issued by the Director of the company), if the company is represented by other person than the Director (must be in English or Lithuanian and duly authorised by the Notary or also with apostille attached or legalised (see here: Notary and Apostille/legalization);
5. Proof of business activities: utility bill (electricity, telephone, post-paid mobile phone, gas, water), property or municipal tax receipt, post office, savings bank account statement or other;
6. Copy of last year tax return or other relevant document (if applicable);
7. Copy of bank statement not older than 6 months (if applicable);
8. Company's management structure, including disclosure of ultimate beneficial owners;
9. Copies of passports of the company's ultimate beneficial owners who directly or indirectly holds 25% or more in share capital of the company;
10. Certificate or license required to commence business activities (if applicable);
11. Company's AML/KYC procedure signed by Director or Management Board (if applicable).
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To me looks they want a utility bill in the name of the business?

Means no legal letterbox companies?
 
#88
That is true, you will need a utility bill to comply with their rules, actually something many providers started to ask for including kraken, ePayments and a few more.
 
#90
Marie Manila said:
Mistertango got fined again:
https://agenparl.eu/mistertango-uab-fined-e245-thousand-for-non-compliance-with-aml-requirements/
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Well it was not unexpected sadly :confused:. Mistertango was the go to for most of us. Luckily I closed my account a while back as I posted in another thread as I saw all this coming with them. Good luck to those involved with crypto. There business model of supporting crypto is dead...lol.

-----start quote

The Bank of Lithuania has placed temporary limitations on the company’s activities: it will only be able to provide payment services to lowest risk clients and only upon updating their KYC information.

Clients holding their funds in MisterTango, UAB accounts to which the company will be prohibited to provide services will be able to apply to it for their money to be transferred to their personal accounts in banks or other credit, payment or electronic money institutions.

This is the third time that MisterTango, UAB has been punished for violations of AML/CTF requirements (it has already been punished in 2016 and 2018).

More: MisterTango, UAB fined €245 thousand for non-compliance with AML requirements

------end quote
 
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#91
Martin Everson said:
Good luck to those involved with crypto. There business model of supporting crypto is dead...lol.
Click to expand...
Why do you think it may be a problem, if you were involved in crypto?
Some time ago they sourced the bitcoin platform out.

BTC-Exchange is owned by UAB "Bitmarket" nowadays.

Since a few days (or maybe weeks) its possible to register at BTC-Exchange without having a MisterTango account.
They will send the money directly to your account in another bank.

Additionally all people are allowed to transfer their money out to their personal accounts in other banks. (See your own quote)

I don't think they will report anyone to the tax man or someone else because you had some crypto transactions.
 
#92
Marie Manila said:
Why do you think it may be a problem, if you were involved in crypto?
Click to expand...

High risk activity. They priced activity as such on their platform to reflect this.

Marie Manila said:
BTC-Exchange is owned by UAB "Bitmarket" nowadays.
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Yes I know I discussed this months ago on various threads i.e below

https://www.offshorecorptalk.com/threads/wirex.23797/post-98097
Marie Manila said:
I don't think they will report anyone to the tax man or someone else because you had some crypto transactions.
Click to expand...

I discussed this also on this same thread why.

https://www.offshorecorptalk.com/threads/mister-tango-s**t-service.24832/post-87309
 
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#93
Here is what I wrote December 2018 on this thread.

Martin Everson said:
From what I can gather MT business has grown 10 fold. $1.2bn is huge volume they are processing for a relatively unknown company in Lithuania :eek:. But still under 50% of what Transferwise process but still shockingly high volume for Lithuania. They must be on the ECB radar for sure for money laundering as no financial company goes from $103m in volume to $1.2bn in one year without alarm bells ringing ns2. Guaranteed not many of those clients re paying tax ;). Be careful what information you hand over to MT as EU will do a IRS coinbase summons on them to determine which of its citizens is dealing with crypto and then come for you with audit :(.
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And sure enough its all playing out. They will be hit with requests for data if not already. Their business model is dead as I said.
 
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#94
Now there is a message after login:
Dear Client,

We would like to inform you that payment transfers temporary unavailable. We are doing everything we can to restore our services and we can assure you that your funds are secure. We understand the inconvenience and therefore are proving you with an option to transfer the funds into another account under your name (your company’s name). If you would like to use this opportunity, please fill in this document with the required information and submit to [email protected]

Even having the opportunity to transfer your funds to another account, you still can fill in and submit Know Your Client (KYC) application and send it to us at: [email protected] we will review it and contact you with the highest priority.

If you have any further questions, please contact us at [email protected]

Thank You for patience and support!
Click to expand...

Also transfers from weekend got blocked and were refunded to account.

Unfortunately there is no KYC form to fill in. At least I cannot find it.
 
#95
I just got this email, account termination, very strange!!!
mistertango.webp
 
#96
That's similar to what I got for long time ago from them. I decided not to proceed with them at all but moved along to another service.
 
#97
Just pull your money out of MT as I did a while ago. It is not going to end well for their business so just consider it an orderly shutdown.
 
#98
Admin said:
That's similar to what I got for long time ago from them. I decided not to proceed with them at all but moved along to another service.
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I'm currently looking for alternatives to MT. Perhaps you could share a name your new service provider? It's turning quite urgent for us, since we cannot use MT anymore :(
 
#99
The new one is TransferWise, so if you can't use them I can't help you!
 
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