Review of DSBC financial europe are they legit

[fortunespeculator]

Hi Anyone has any idea on DSBC financial Europe .Are they legit?

 

[Granwasa]

Good morning OP,
My personal experience was not great and I decided to not continue with onboarding.
The company is overall very shady and is owned, apparently, by two Vietnamese.
The board management is unknown a part from the CEO, Hung Anh Le and Vu Dai Duong, a director. Researching them on Google shows no results.
The registered address, Lvovo g. 25, Vilnius 09320, is only a virtual office. Therefore, we may conclude that they do not have any physical presence in Lithuania.
Since the very first approach, they press you a lot, through a "dedicated manager", to open a account. Which by the way come with an opening fee.

Three more things made me even more suspicious.
First, there are two identical websites: dsbcnet.com and dsbcf.com.
Second, as contact methods they offer Viber and Signal, which does not seem very professional for a payment institute.
Lastly, but the least, the two managers opened in 2018, a company in Cyprus WITH THE EXACT SAME NAME.
DSBC Financial Limited. This Cyprus company was opened using three nominee directors and a virtual office, Nicosia, 1060, Agias Elenis building 6, 4th floor, office 43.


To conclude and quote a previous post on the forum....
"DSBC financial Europe is not an EMI (Electronic Money Institution). They are a PI (Payment Institution). They are not themselves authorised to hold your funds and instead work with partner banks."

Compare for example DSBC with Paysera:
Licencijos informacija
Licencijos informacija

Hope to have been helpful.
I wish you a great day.
Granwasa

 

[fortunespeculator]

Good morning OP,
My personal experience was not great and I decided to not continue with onboarding.
The company is overall very shady and is owned, apparently, by two Vietnamese.
The board management is unknown a part from the CEO, Hung Anh Le and Vu Dai Duong, a director. Researching them on Google shows no results.
The registered address, Lvovo g. 25, Vilnius 09320, is only a virtual office. Therefore, we may conclude that they do not have any physical presence in Lithuania.
Since the very first approach, they press you a lot, through a "dedicated manager", to open a account. Which by the way come with an opening fee.

Three more things made me even more suspicious.
First, there are two identical websites: dsbcnet.com and dsbcf.com.
Second, as contact methods they offer Viber and Signal, which does not seem very professional for a payment institute.
Lastly, but the least, the two managers opened in 2018, a company in Cyprus WITH THE EXACT SAME NAME.
DSBC Financial Limited. This Cyprus company was opened using three nominee directors and a virtual office, Nicosia, 1060, Agias Elenis building 6, 4th floor, office 43.


To conclude and quote a previous post on the forum....
"DSBC financial Europe is not an EMI (Electronic Money Institution). They are a PI (Payment Institution). They are not themselves authorised to hold your funds and instead work with partner banks."

Compare for example DSBC with Paysera:
Licencijos informacija
Licencijos informacija

Hope to have been helpful.
I wish you a great day.
Granwasa

Thats good information.Thank you my friend

 

[Granwasa]

I forgot to add...

They also claim that both personal and corporate accounts, can receive SEPA and SWIFT third party payments.
For someone this could be heaven, but remember that to date, it does NOT exist a well established EMI that offers SWIFT to personal accounts.

LASTLY...
The account opening itself requires only ID scan + proof of address. This is a huge red flag.
In 2020 no serious financial institutions requires so little KYC.
Only Ibanera... Which is run by a known scammer.

Be safe out there.
Granwasa

 

[fortunespeculator]

I was suggested by OneIBC to open a fre account in DSBC

 

[Granwasa]

OP you should research deeper on your own.

OneIBC and DSBC are under the same owners.

Looking at OneIBC reviews, we may conclude that also DSBC is definitely to avoid.
Reviews of One IBC Limited - Offshore Incorporators#
Rip Off - Avoid One IBC.

 

[Shaun3]

This was recommended to me today by SFM an offshore setup company I used to incorporate.
Think I will avoid this bank. My company has been set up a year and still waiting for SFM to refer me to credible banks.
any suggestions? (as one of the shareholders is a USA citizen, it seems to put many banks off)

appreciate any suggestions.

 

[boomy]

No suprise, have you read about SFM on OffshoreCorpTalk?
https://www.offshorecorptalk.com/threads/sfm-offshore-robbed-me-3800euro.29673/https://www.offshorecorptalk.com/threads/sfm-offshore-are-they-good.28346/
We are here to help each other

 

[Richard Godwin]

Hi Anyone has any idea on DSBC financial Europe .Are they legit?

Are they legit?

I joined DSBC Financial Europe as new customer few months ago and have been extremely satisfied with their service. All the personnel in the DSBC Knowledgeable, Friendly, and have the genuine interest in their customers which I really appreciate. As I know that they every Customer have their Relationship manager- who in charge support their Customers. My experience with this Bank has been very pleasant!

They provided me with all informations before proceed service to make sure I understand all and get smooth service, get Current/ offshore account within 1 week, fast service

If you check their website, you will know that they are licensed with the Central Bank located in Lithuania and by law of Government. I found informations of DSBC Finanical Europe in Central Bank of Lithuania below :

UAB "DSBC Financial Europe"

 

[Richard Godwin]

I forgot to add...

They also claim that both personal and corporate accounts, can receive SEPA and SWIFT third party payments.
For someone this could be heaven, but remember that to date, it does NOT exist a well established EMI that offers SWIFT to personal accounts.

LASTLY...
The account opening itself requires only ID scan + proof of address. This is a huge red flag.
In 2020 no serious financial institutions requires so little KYC.
Only Ibanera... Which is run by a known scammer.

Be safe out there.
Granwasa

OHHHH, You are Wrong. They asked me provide Ordinary valid passport ( at least 6 Months), Proof of address (Bank account statement or Utility Bills with dated not older than 3 Months), Taxpayer Identification Number. I provided Identity Card but they did not accept. They also don't accept Bank account statement which I provided from another Financial service as well

So I wonder the story you said that is " TRUE " hahaha ???

 

[AdamT1]

OP you should research deeper on your own.

OneIBC and DSBC are under the same owners.

Looking at OneIBC reviews, we may conclude that also DSBC is definitely to avoid.

I did recently research on them and came to identical conclusions.

And more - they are openy posing as a "bank" in marketing communication though in my opinion they are not licensed to operate client accounts to the extent as they try to market it.

Also they got warning from regulatro LB.lt on not following required level of own capital. This indicates they are not financially sound to be able to accept signiciant customer money.

Fun part was the intentional visual similarity of their wbesites:
-oneibc.com logo is as if reversed of the legit bank ocbc.com
-DSBC is only one letter away from HSBC,
-dsbcnet.com colours & theme similarity to that of both HSBC and ocbc.com

 

[Annissa V]

Hi Anyone has any idea on DSBC financial Europe .Are they legit?

I found them on google. I do have the same question about them. I didn't see much review from the customers. It hard to find a trusthy company in the market.

 

[Dante Wu]

"And more - they are openy posing as a "bank" in marketing communication though in my opinion they are not licensed to operate client accounts to the extent as they try to market it"

I try the same but I find their license to do Money Service, will it affect their responsibility? Regarding Capital, why do you care about this as long as they can do the money remittance?

 

[samanne]

Hi Anyone has any idea on DSBC financial Europe .Are they legit?

You can find them on their website, products and services. I had an experienc with DSBC few months ago when I was looking for somewhere that supports to open an account remotely. You will have someone who takes care of you and guides you until the end. Surely legit tho.

 

[myshufflemix]

You can find them on their website, products and services. I had an experienc with DSBC few months ago when I was looking for somewhere that supports to open an account remotely. You will have someone who takes care of you and guides you until the end. Surely legit tho.

how many accounts did you opened here on OCT ? @Admin new account, first post a positive review about his company!!!!

 

[samanne]

how many accounts did you opened here on OCT ? @Admin new account, first post a positive review about his company!!!!

Well, I opened one account basically because I am one person. If you are interested in opening an account with them, give it a try.

Well, I opened one account basically because I am one person. If you are interested in opening an account with them, give it a try.

I mean if you are curious whether it is legit, give it a try then.

 

[wmaeser]

"Note Sir that DSBC Financial Europe has a Payment Institution license at the moment so that we can only provide payment services to clients, not savings or deposit. "

A bank that will not let you hold deposits with them. Everything about DSBC is misleading, they advertise like a bank, but are not legally allowed to hold savings or deposits.

Also, they advertise that you get a personal account with an ATM card. Turns out this is only a prepaid ATM card. The card cannot and will not attach to any live account.

Avoid!

 

[myshufflemix]

I believe you found a good scam or at least fraud @wmaeser thank you for bringing this to our all attention. It's of great help so we can avoid to lose our money.

 

[wmaeser]

If you want to send a little money here and there, they may be fine, but no way would I trust this DSBC when they actively mislead you into thinking they are a bank.

 

[ImKing]

If you want to send a little money here and there, they may be fine, but no way would I trust this DSBC when they actively mislead you into thinking they are a bank.

folks stay away from this rip off!