Deposit and withdrawal methods: MuchBetter service interruption (Page 21)

campamocha wrote on 02/17/2023 at 09:05: British fintech champion accused of 'systematic' failings over anti-terror checks

Source: telegraph.co.uk, website, article dated 02/16/2023.

In simple words:

Railsr has an e-money institution namnes PayRnet in Lithuania. PayRnet = licensor of MIR UAB Lithuania.
MIR UAB Lithuania = MuchBetter Europe
PayRnet license has been restricted.
Bank of Lithuania statement (see their website) states that PayRnet was ordered, among other things, to immediately terminate its cooperation with MIR UAB Lithuania (MuchBetter).
Reasons? - bit nebulous, but the statements above speak for themselves....

So MB no longer has a license in Europe. That is the state of affairs.

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Xavi22 wrote on 02/17/2023 at 09:14 AM:

This does not sound good either. I somehow can't imagine a positive outcome anymore. There will most likely also horrendous fines due and the state will take the coal from the money that probably belongs to us. Nothing will be released before that.

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campamocha wrote on 02/17/2023 at 09:18 AM:

No, all funds in the form of e-money are ALWAYS 100% safe. They are held in what is called Safeguarding or Client-designated accounts and are also not allowed to be used to pay creditors of any kind. So money is not gone, how long it takes until it is paid out to customers - can not say, but the regulator will already look at it, that here is worked quickly and cleanly.

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kleo7777 wrote on 02/17/2023 at 12:33 pm: Something new again!!!

Reply support@ Reply from MuchBetter
2 hours ago

Hello!

We are very sorry to hear about your dissatisfaction.

Rest assured that your money is safe and your withdrawal request is in process.

Our support team is currently dealing with a high volume of inquiries and since we do not have enough information available, we may receive similar responses. We can assure you that every answer will come from one of our colleagues.

We thank you for your understanding and patience

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kleo7777 wrote on 02/17/2023 at 09:05 AM:

But this money should never be counted in the Hauhsltskasse....

So with me does nothing Auszahlungsmässig even the support now no longer responds... I write me the mental times off and if it should still come one is even more pleased ...

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david555 wrote on 02/17/2023 at 11:43: How long have you been waiting for your crypto payouts?

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gamble1 wrote on 17.02.2023 at 14:32 clock:
Well I had MB also used for business and there was quite a bit of money on it it was always given the impression there everything runs cleanly and is just compared to one of many bank for free


Well calculates times how many billions of euros MB had to work if you take only times all the casinos as a counterpart to MuchBetter also had to use an account to process deposits and withdrawals must be really stupid there because theoretically there should also first little to no money arrives

Maybe that's even good you know how it goes when many partners with large funds are affected and from a casino source I know that they also have to load their wallet normally at least with Muchbetter only that there are just millions that are booked

Think there will soon be something new I cross my fingers for everyone who still gets money

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Pokerbaer wrote on 17.02.2023 at 16:16: Tach; I signed up especially for this thread here.
There is a mid three-digit amount on my MuchBetter account, it is currently not needed.
Nevertheless I don't have anything to give away. It is deposited money, I want it back of course! Therefore my question
Do you think it's better to initiate a payout to my bank account (which won't be executed at first) despite the current standstill, or is it wiser to wait and see how things develop (I think if the problems remain, a trustee will be appointed for payouts of customer funds or something)?

I'm absolutely not clear on this at the moment and appreciate thoughts on this!

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Pokerbaer wrote on 17.02.2023 at 16:16: Tach; I signed up especially for this thread here.
There is a mid three-digit amount on my MuchBetter account, it is currently not needed.
Nevertheless I don't have anything to give away. It is deposited money, I want it back of course! Therefore my question
Do you think it's better to initiate a payout to my bank account (which won't be executed at first) despite the current standstill, or is it wiser to wait and see how things develop (I think if the problems remain, a trustee will be appointed for payouts of customer funds or something)?

I'm absolutely not clear on this at the moment and appreciate thoughts on this!

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