MoneyNetInt LTD is a financial services company that provides international payment solutions to businesses. It is headquartered in London, England, and is authorized by the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011.
MoneyNetInt LTD: FCA-Regulated E-Money Institution with a Complex History
MoneyNetInt, an e-money Institution (EMI) regulated by the Financial Conduct Authority (FCA), has been at the forefront of international payment services. Founded in 2003 as a modest family venture, it has evolved into a global player handling billions of dollars in transactions yearly. Spearheaded by Israelis Raphael Golan, Gil Trif, Nissan Trif, and Yishai Trif, MoneyNetInt has expanded significantly over the years.
In 2017, the MoneyNetInt Group began operations under GlobalNetInt UAB s/b/a payswix in Lithuania, alongside local collaborator Luidvikas Kulikauskas. This initiative was authorized by the Bank of Lithuania as an EMI to demonstrate its dedication to international financial operations.
MoneyNetInt’s offerings encompass a wide range of services, including business and personal IBAN accounts, debit cards, SEPA payments, multi-currency e-wallet management, credit card processing, and tailored payment solutions for merchants. A notable partnership with Ripple, a significant player in the cryptocurrency realm, further solidifies its strategic position in the financial landscape.
However, the company’s journey has not been devoid of challenges. MoneyNetInt’s connection to the Vienna Cybercrime Trials, involving convicted scammer Gal Barak, raises eyebrows. Allegations suggest that MoneyNetInt played a role in facilitating money laundering activities for entities like Online Prospect and DYISY Group.
In early 2021, MoneyNetInt faced issues with the UK Financial Conduct Authority, resulting in a voluntary suspension of new customer onboarding from June 1, 2021. While this move aimed to enhance processes after discussions with the FCA, existing customers remained unaffected, and services continued uninterrupted.
Interestingly, MoneyNetInt’s shareholders, Golan Holdings LTD, and Triff Holdings Ltd, also held majority stakes in GlobalNetInt UAB (now Payswix UAB) until at least Q3 2021. However, this Lithuanian counterpart faced its challenges, including money laundering concerns that led to a substantial fine of €350,000 imposed by the Bank of Lithuania.
The changing landscape of financial regulations has impacted MoneyNetInt’s business trajectory. The ban on binary options trading in several regulatory frameworks since 2017 has led to a shift in MoneyNetInt’s operations. Recent figures suggest a potential impact on their performance.
In light of its involvement in processing payments for broker scams, MoneyNetInt finds itself listed under the “Red Compliance” category. This classification stems from concerns regarding its role in fraudulent financial activities.
We look at 34 different data points when analyzing and rating online money-earning opportunities. Once the research on these data points is submitted, expert contributors reach out to the company’s customers and associates to get more insight into their operation. Finally, all the collected information is presented in the form of this expert review.
All the data is extracted from publicly available information and the sources are given in the transparency section at the bottom of every report.
These reports are made possible by the collective efforts of contributors like you. If you would like to become a contributor then contact us here.
Yishay Trif: Chief Executive Officer at MoneynetInt LTD
Yishay Trif holds the position of Chief Executive Officer at MoneynetInt LTD, a distinguished company operating in the realm of financial technology. With a primary focus on streamlining payment processes, MoneynetInt offers a comprehensive array of services that cater to various financial needs.
At the core of MoneynetInt’s offerings is their expertise in facilitating payments. They have honed their capabilities to provide seamless and efficient payment solutions for individuals and businesses alike. One of their standout features is the provision of Designated International Bank Account Numbers (IBANs). This enables clients to engage in international transactions with enhanced ease, enabling smoother cross-border financial interactions.
MoneynetInt LTD is also a notable player in Automated Clearing House (ACH) transactions. Their sophisticated systems allow for the automated processing of large volumes of transactions, making fund transfers swift, secure, and hassle-free. This capability is particularly advantageous for businesses dealing with regular bulk transactions.
In the realm of card-based transactions, MoneynetInt stands out for its prowess in Credit Card Processing. They offer a reliable platform that enables businesses to integrate credit card payments into their operations seamlessly. This enhances the customer experience and expands revenue streams for the businesses.
The company also caters to the growing demand for Prepaid Debit Cards. These cards offer a convenient way for individuals to manage their finances without the need for traditional bank accounts. MoneynetInt’s expertise in this area ensures the issuance and management of these cards are executed with a high level of security and efficiency.
In addition to their other services, MoneynetInt facilitates Cash Pay-outs, providing a convenient option for individuals to receive funds. Whether it’s payouts for services rendered, winnings, or any other form of disbursement, MoneynetInt’s platform ensures that the process is smooth, secure, and user-friendly.
Under the leadership of Yishay Trif, MoneynetInt LTD has positioned itself as a leader in the fintech industry. With a diverse range of services including Designated IBANs, ACH transactions, Credit Card Processing, Prepaid Debit Cards, and Cash Pay-outs, the company continues to empower businesses and individuals with innovative and reliable financial solutions.
MoneyNetInt LTD: A Payment Processor Involved in Binary Options Scams?
MoneyNetInt LTD is a payment processing company that has been accused of facilitating binary options scams. Binary options are a type of high-risk investment where the outcome of a trade is determined by a yes or no question. Many binary options companies are fraudulent, and they use payment processors like MoneyNetInt to launder their money.
In one case, a man from Singapore was scammed out of $10,000 by a binary options company called SecuredOptions. The man transferred the money to SecuredOptions through MoneyNetInt. MoneyNetInt then transferred the money to a Polish bank account.
The man eventually got his money back, but only after he filed a complaint with MoneyNetInt and contacted law enforcement in four different countries.
MoneyNetInt has denied any wrongdoing. The company says that it is a legitimate payment processor and that it does not knowingly process payments for fraudulent businesses.
However, the allegations against MoneyNetInt are serious. The company is facing lawsuits from binary options victims, and it is under investigation by regulators in several countries.
If you have been scammed by a binary options company, you may be able to get your money back by filing a complaint with MoneyNetInt. You can also contact your credit card company or bank to see if you are eligible for a chargeback.
It is important to be aware of the risks involved in binary options trading. Binary options are a very risky investment, and most people lose money. If you are considering investing in binary options, you should do your research carefully and only invest money that you can afford to lose.
Here are some tips for avoiding binary options scams:
- Only invest with regulated binary options companies.
- Do not deposit money with a company that you do not trust.
- Be wary of any company that promises guaranteed profits.
- Read the fine print before you sign any contracts.
If you think you have been scammed by a binary options company, you should contact the authorities immediately. You can also file a complaint with the Financial Conduct Authority (FCA) in the UK or the Securities and Exchange Commission (SEC) in the US.
How to Get Your Money Back from MoneyNetInt?
If a binary options company has scammed you and you used MoneyNetInt to process your payment, you may be able to get your money back. Here are the steps involved:
- File a complaint with MoneyNetInt. You can do this by contacting the company’s customer service department.
- Provide as much information as possible about the scam, including the name of the binary options company, the amount of money you lost, and the date and time of the transaction.
- Keep a copy of all of your correspondence with MoneyNetInt.
- If MoneyNetInt does not respond to your complaint or if the company refuses to refund your money, you can file a lawsuit against the company.
You may also be able to get your money back by filing a chargeback with your credit card company or bank. A chargeback is a dispute process that allows you to get a refund for unauthorized or fraudulent charges.
To file a chargeback, you will need to contact your credit card company or bank and provide them with the details of the scam. The company will then investigate the claim and may issue you a refund.
Getting your money back from a binary options scam can be a difficult process, but it is important to remember that you are not alone. There are many resources available to help you, and there is a chance that you can get your money back.
Reviews on Trustpilot of the MoneyNetInt LTD seem to be fake:
According to Trustpilot, MoneyNetInt LTD has an Excellent rating. The business has 271 customer reviews with 4.8 stars out of 5-star ratings. The company is also verified on Trustpilot.
Rewiews by its Customers on Trustpilot:
#1. Midodzi Tay recounts his experience with PayTicket, highlighting their swift abandonment when faced with a payment obstacle. Tay had received a parking violation ticket in Amsterdam, yet the issuer’s lack of comprehensive details posed a challenge in settling the fine. Disappointingly, PayTicket’s efforts fell short as they failed to diligently trace the issuer, ultimately leading to the return of his funds a month later under the pretext of being unable to process the payment.
However, Tay’s determination led him to make inquiries and persevere until he successfully resolved the issue by paying the fine himself. Tay suggests that PayTicket could greatly enhance customer satisfaction by displaying greater persistence in overcoming hurdles rather than readily conceding defeat when confronted with roadblocks.
#2. According to Mayur, as a client, the paramount factor he prioritizes is customer support. While the services provided are comparable across different platforms, what truly distinguishes Moneynetint is its exceptional customer support. In his experience, they offer unparalleled assistance, swiftly resolving any concerns he had within a matter of minutes. Mayur emphasizes that this level of service aligns perfectly with his expectations for both the service and the service provider he chooses.
#3. Describing the experience, Crazy Traveler expresses that the service acted as a true lifesaver. The simplicity and remarkable responsiveness of the service were instrumental in successfully settling his tickets in Italy. Despite Italy being an amazing destination to explore, Crazy Traveler laments the tendency of local governments to exploit tourism as a means to financially support their cities.
Wrapping it up:
MoneyNetInt is a complex company with a mixed history. The company has several strengths, but it also faces some significant challenges. Businesses and individuals who use MoneyNetInt should carefully weigh the risks and benefits before making any transactions.
