We get a lot of questions from investors wondering when it will be possible to receive the interest on projects which are already completed and when the option to withdraw money from the account will be re-activated.
Questions and answers
— Why was there a delay with withdrawal transactions?
The answer to the question is simple. Since third-party platforms, such as Transferwise conduct a lot of transactions and deposits, without indicating an allocated account number, the bank requests additional information.
This, in turn, entails delays in conducting operations.
— What does the situation looks like at the moment?
Our platform deals with the issue of changing banks. As you know, finding a bank with flexible compliance is not an easy task. At the moment, we have preliminary arrangements with a few banks. We also agreed with Paysera on the issue of transferring all funds to a new bank account.
Below you will find a screenshot from Paysera with guarantees to transfer money that is not yet transferred.
— When will this happen?
In the best of circumstances and the absence of force majeure situations, this issue will be resolved no later than the end of the next working week.
— What will happen with payments for projects which are already finished?
As soon as a new bank account is opened, all stipulated payments for finished projects will be made. Investor money is secure, and you have nothing to worry about. Monethera guarantees the safety of deposits and payment of interest in full.
— What happens if a new bank refuses to open an account?
Understanding the scrupulousness of this issue, we are negotiating with several financial institutions at once. Our platform operates in strict accordance with the law and conducts transparent activities. We are confident that the probability of such a development of events is minimal. Nevertheless, we have reached an agreement with IC Trading regarding the fact that in the event of an extended delay in opening an account, it will deal with the payment of funds to investors directly from its bank account.
— Pellet Fuel Reselling payments?
Today, payments for the Pellet Fuel Reselling project were scheduled, but due to the situation with an inactive bank account, we are forced to report a temporary delay. The funds are in the company’s account, and as soon as we open an account in a new bank, all transactions will be made. We want to emphasize that this is an isolated case caused by speculation in the market. In the future, all measures will be taken to minimize the negative impact and to eliminate the recurrence of this unpleasant situation.
We understand your concern and therefore try to explain in detail every step taken by our platform. Maximum transparency, security, and trust are the principles by which we are guided in building relationships with our investors. We are doing our best to stabilize processes and proceed with withdrawals and deposits.