What happened with EU banks this week?
 

Got notifications from both Payoneer and Paxum on the same day that funding wires for corporate accounts must be sent to a new bank, effective immediately. Previously Payoneer was banking in UK and Paxum in Romania, some kind of EU regulations change?

Both issue cards from choice bank in belize. Choicebank uses commerzbank in germany as it's intermediary bank for taking wire transfers. Huge investigations against commerzbank going on right now. Probably more to do wiht that...

Ah, makes sense.

If the currency wired is in $USA then it's about FACTA, AML and the IRS.

Alphabet soup :P

A lot of banks outside the USA will not accept $USD wire transfers (or wires from USA banks) I read. This is probably not the subject banks policy for large multi-national corporations?

^^^This^^^

This clears a few things up for me.

I thought that the problems I was having might be to do with the current investigations in Romania.

Well i mean, don't treat what i wrote as absolute fact - it's just my educated guess.

Sure.

All I know is that I appear to have some funds in motion.........

Also im pretty sure that the only thing that paxum has to do with romania is that the owner is romanian

Where did you wire money to? Romania?

tell them that our transactions are related with porn and that we don't deal with sudan or iran :winkwink:

I am going to see how this plays out before I say anything else.

You can always try phoning choicebank, pretend you are interested in setting up an account there and ask who their correspondant banks are

Been waiting 5 days now for them to send wire from my paxum account to bank, usually takes 24hrs now they are not even bothering to reply to support tickets, just got the "initiated" email when submitted but still no sign theyve even started to send funds.