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Post by snaggle on Jul 8, 2019 8:46:55 GMT
I received this answer from Mintos on the 4th July.
"We are in the process of obtaining necessary permissions to offer our service to investors from the UK. When all legal and regulatory permissions are obtained, we will be happy to welcome you on Mintos.
Unfortunately, there is no further information regarding when Mintos will be available for UK investors.
Thank you for your understanding.
Let us know if you have any other questions.
Regards,
Austeja"
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huxs
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Post by huxs on Aug 16, 2019 14:14:07 GMT
I thought I read somewhere that for UK investors Mintos would waive the EUR to GBP exchange fee but have just done this and seems to still be charged the .05% ??
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benaj
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Post by benaj on Aug 16, 2019 14:19:32 GMT
I thought I read somewhere that for UK investors Mintos would waive the EUR to GBP exchange fee but have just done this and seems to still be charged the .05% ?? Revolut exchange free up to certain amount.
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pom
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Post by pom on Aug 17, 2019 13:13:07 GMT
I thought I read somewhere that for UK investors Mintos would waive the EUR to GBP exchange fee but have just done this and seems to still be charged the .05% ?? I seem to recall it would be refunded in arrears (monthly??)...and I had a mysterious GBP deposit into my acct on Thurs which I sure as heck didn't pay in and seems about the right magnitude
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tommo
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Post by tommo on Aug 22, 2019 9:00:56 GMT
I didn't realise they offered a free exchange service for impacted UK investors. Just been getting EUR sent to my Revolut and converting it there.
It's a shame we can't invest anymore. Quite liked Mintos.
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Post by spareapennyor2 on Aug 22, 2019 12:02:01 GMT
unknown deposit
It's compensation for a currency exchange fee
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stevio
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Post by stevio on Sept 19, 2019 11:00:29 GMT
Was there ever a reason given for withdrawing access to loans for UK investors? Brexit?
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toffeeboy
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Post by toffeeboy on Sept 19, 2019 12:48:55 GMT
Was there ever a reason given for withdrawing access to loans for UK investors? Brexit? I think the general assumption is that it is to do Mintos being rejected by the FCA but not sure if it has actually been officially reported as such.
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Post by kl on Sept 23, 2019 14:42:18 GMT
As a UK based investor, I had been blocked from making new investment with Mintos for some time and have been running down my portfolio consequently. I was therefore most surprised, when I received an email stating: We take your security seriously, and that’s why your account has an initial investing limit. To lift the limit and continue investing, please answer a few questions. It will take just a few minutes of your time to let us know everything is ok. Until you answer the questions, we need to limit what you can do with your account.
- You can’t buy or sell loans
- Your Auto Invest and Invest & Access portfolios will stop investing, and you can’t change them or create new ones
- You can’t withdraw money from your account
I queried the logic as my investments have been falling steadily and as an UK investor I am prohibited from making investments. The response was somewhat baffling: … continue to receive the interest for your investments the account turnover still changes … … investors must fill out the questionnaire which is related to know your customer (KYC) protocol … As soon as you will answer the questions you will be granted access to the account.
With enthusiasm I set to provide the initial required information (proof of address). The few minutes turned into hours (!) as the demand for documentation increased. The final step was an online identity check. No warning at the outset of the amount of work required To give Mintos credit, they turned around the check within hours. I was awaiting the moment at which I regained control of my account with great expectations! Unfortunately - despite all best efforts - I am still blocked from making new investment on Mintos But at least I am now allowed to withdraw my money from Mintos
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mrk
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Post by mrk on Sept 23, 2019 15:08:54 GMT
investors must fill out the questionnaire which is related to know your customer (KYC) protocol Did you recently change your address or something like that, or was this request from Mintos just out of the blue? I had to undergo a similar check with Funding Secure recently, after changing address. Haven't received any emails from Mintos though.
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Post by kl on Sept 24, 2019 16:55:07 GMT
Well, I am used to providing utility bills, etc for address verification. That's standard stuff.
But this was address verification, source of funds (e.g. documents of ownership AND Decision to dividend pay-out AND Copy of financial statement AND bank statement OR Contract for sale/Contract for rent AND document which clearly shows ownership of real estate OR …) and online identity verification.
Heavy stuff for a simple address change!
Or is this a sign of things to come...
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tommo
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Post by tommo on Oct 4, 2019 21:06:01 GMT
It is a real shame Mintos have gone for a tactic of radio silence on this issue.
Unfortunately I have had to withdraw everything I had on the platform because of the restrictions on UK investors.
Hopefully they will resolve the issue because I liked Mintos.
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Post by spareapennyor2 on Apr 6, 2020 7:37:40 GMT
need to change my bank details to withdraw so need to make a small deposit to verify bank
can only see mintos bank details when you choose currency to deposit (At this moment we do not have currency assigned to your country)
as UK blocked i`m stuffed? catch 22
any one had this?
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benaj
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Post by benaj on Apr 6, 2020 8:07:13 GMT
need to change my bank details to withdraw so need to make a small deposit to verify bank can only see mintos bank details when you choose currency to deposit (At this moment we do not have currency assigned to your country) as UK blocked i`m stuffed? catch 22 any one had this? Nope, I managed to add another UK bank account without making deposit. Mintos can also return money via Transferwise. Have you spoken to the Mintos Team?
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Post by spareapennyor2 on Apr 6, 2020 8:27:16 GMT
i want to make sure of bank details as the only deposit i made was then i signed up mintos have changed banks a few times i believe support@mintos going in circles? asking for a confirmation of a deposit to verify bank change might have to speak to the mintos team then? thanks benaj now sorted
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