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RUB pending payment

Kommentare

64 Kommentare

  • Lucja (Mintos)
    Community moderator

    Hello, thank you for your question. The possible scenarios, including how much may be recovered depending on future developments, were described in detail in this article: https://www.mintos.com/blog/sanctions-and-russian-retaliation-disrupted-market-conditions-and-their-impact-on-payments-to-mintos-and-investors/

    0
  • JH

    This document does not answer the question.
    Why is it so difficult to provide answers for the questions?
    Please provide a clear answer!

    1
  • Annija (Mintos)
    Community manager

    JH, please note that currently, we are working on establishing alternative payment routes, please follow the updates here https://www.mintos.com/blog/russia-ukraine-war-impact-update-swift-ban-rub-plunge-pausing-listing-new-loans-from-belarus-and-more/ 

    Pending payment interest won't be charged from the Russian and Ukrainian lending companies, as the limitation to transfer funds timely is beyond the control of the companies listed. 

    0
  • JH

    Dear Annija,

    "Pending payment interest won't be charged from the Russian and Ukrainian lending companies, as the limitation to transfer funds timely is beyond the control of the companies listed. "

    Please provide a link where this rule is shown in a document which has a timestamp before the placement date of the russian loans where payments are late.

    2
  • JH

    Dear Annija,

    I know all these documents.
    Could you please read my request carefully and post the link to the requested document.

    Thank you!

    2
  • DW

    Documents don't exist, because they make things up where it suits them.

    2
  • JH

    Dear DW,

    this is not possible.
    Mintos is regulated and has to follow the rules.

    0
  • DW

    hahaha that's very optimistic of you. There is absolutely no reason why we should not receive interest on pending payments (from Russia), yet that is exactly what is happening here. Don't know why it is my problem that the Russian government will not allow transfers over 10M RUB, yet I receive no interest on my money the Russian lending company is STILL borrowing. Blabla "alternative payment routes", all fine and dandy, but Mintos has no business cancelling the interest accumulation, yet they unilaterally decided to do so. (Of course Mintos already took their profit when the claims were filled before the war, so why care?) Regulated hahaha.. Maybe it gets a bit better when notes are introduced, but it will not be with my investments.

    1
  • JH

    What you say is wrong.
    If you look into the homepage there is clearly stated that Mintos is a regulated company where investors have first priority. I am sure that Mintos will clarify the open points in our interest.

    1
  • DW

    Ah you see, there is a BIG difference between what Mintos promises and what Mintos actually delivers. All this 'regulation' stuff only concerns notes that they don't even offer yet. (Maybe they do, halted all my investments here, so wouldn't know for sure). When it comes to the older claims, everything is up in the air, and from what I've seen the last couple of months, I'm not holding my breath. Mintos is the only p2p provider out of 6-7 where I'm actively reducing my exposure. Should tell you enough.

    Anyway, back to my original point: the document you are asking for does not exist.

    2
  • MP

    I can't imagine that due to the fact, that russian lending companies could not transfer money as they used to, they hold them and do not use them. I hope no one in Mintos company is so naive. Since they are possessing that money I would even understand pending payment interest won't be taken, but letting them have this money for 0% of interest for an unknown period is an example of being not serious to investors. Who made this decision? Any document available?

    Also, the way investors are informed about the progress of transferring rubbles is so unclear, that it rather looks like whitewashing, but definitely not behavior that builds trust. Why don't you share any plan with clear deadlines and goals? You had no such issues with informing about notes. I don't even know what would be a rate for an exchange (start date of the war or the date of the exchange?).

    4
  • Lucja (Mintos)
    Community moderator

    Disruptions in transfer flows are due to circumstances beyond the control of Mintos and lending companies. They are the result of EU sanctions and Russia's actions in connection with the war in Ukraine. It is currently unknown when the situation will return to normal, so it is impossible to set a specific date. We are working on the plans described in the latest update, but this takes time.

    -1
  • Lucja (Mintos)
    Community moderator

    JH The number one priority for Mintos is to find a solution for getting any payments to investors, as this is currently not possible due to sanctions and limitations. Once this problem has been solved, we’ll evaluate each case individually. Many of the Russian lending companies are just holding the repayments from borrowers due to Mintos investors, as they can’t transfer the money. These companies are not benefitting from holding the money. That said, where possible and reasonable, pending payment interest should be paid by the lending company.

    -1
  • JH

    You always forget one important detail. Mintos is an EU company. Why are you supporting russian companies? Russia caused the payment problem, not the EU. The interest of EU investors shall have first priority. Another point you always oversee. Investors have no influence into the situation, too. This means the rules at contract date are valid in any case.
    Please confirm.

    1
  • DW

    "these companies are not benefitting from holding the money"
    might be the dumbest statement I have ever heard. Damn, I can share you my bank details if you don't see benefits in holding money.

    Even normal deposit accounts in Russia still pay about 10% currently. Not to mention, some excuses will follow that we can only get 50% back through some "alternative route". Who gets what cut will not be disclosed of course.

    3
  • DW

    their little dictator forbids them to transfer money, and the companies themselves do little to no effort to give our money back. what I have learned the last couple of months is that any excuse is good enough to commit crimes. Thank God they get no benefit from stealing millions. blabla automated bot response from Annija.

    1
  • JH

    Dear Annija,

    These links are quite old. 
    I read them all.
    Mintos promised weekly updates. Where are these updates?

    There is no answer for my clear question's.

    "You always forget one important detail. Mintos is an EU company. Why are you supporting russian companies? Russia caused the payment problem, not the EU. The interest of EU investors shall have first priority. Another point you always oversee. Investors have no influence into the situation, too. This means the rules at the contract date are valid in any case.
    Please confirm."

    Best regards

    JH

    2
  • JH

    This question is still open!

    "Pending payment interest won't be charged from the Russian and Ukrainian lending companies, as the limitation to transfer funds timely is beyond the control of the companies listed. "

    Please provide a link where this rule is shown in a document which has a timestamp before the placement date of the russian loans where payments are late.

    Dear Annija,

    I know all these documents.
    Could you please read my request carefully and post the link to the requested document.

    Thank you!

    4
  • JH

    Dear Annija,

    For KVIKU it is allowed to transfer monthly money (10 Mio Rubel) to Europe.
    IUVO received rubel payments from KVIKU.
    TWINO receives payments from Russia since month and transfers this money to the investors.

    Where is the problem for Mintos to receive money like other companies do?

    Best regards

    JH

    4
  • I think the way that Mintos is currently handling the situation is incorrect. I have a few questions about this handling of pending payments regarding the matter therefore.

    Why do you not recover 10 Mio Rubel each calendar month since there has been 0 recoveries since the start?

    Why do you charge the costs of payments for a russia route to investors?

    Why do you not charge pending payment interest since the loan agreement has been breached? Since Mintos is a regulated financial market place it needs to not just handle in the best interest of the lending companies, but also in the interest of the investors first!

    1
  • JH

    Dear Annija,

    since one month no answer.
    Is this the way Mintos handles problems?
    I expect answers for such simple questions within two days at the longest!

    Best regards
    JH

     

    1
  • JH

    Zinsen für ausstehende Zahlungen

    Mintos fordert für offene russische Darlehen (verspätete Zahlungen) die vertraglich vereinbarten Zinsen von russischen Darlehensgebern nicht ein. Die Begründung ist mehr als bedenklich. Russische Darlehensgeber hätten auf die Situation keinen Einfluss. Deshalb wird von Mintos auf die Erhebung von Zinsen zulasten der europäischen Investoren verzichtet. Dies bedeutet, dass die Darlehen zinsfrei für Anlagen in Russland zur Verfügung stehen, zum Vorteil Russlands (Zinsen in Russland > 10%).

    Die Sanktionen gegen Russland haben den Sinn, Russland und seine Unternehmen zu schädigen und nicht direkt europäische Investoren. Mintos verletzt durch sein Verhalten zumindest den Geist der von der EU verhängten Sanktionen. Ein unglaublicher Akt der Ignoranz. Dies dann auch noch als “Höhere Gewalt” zu klassifizieren wundert dann nicht mehr.

    Ich erwarte von einem regulierten Unternehmen wie Mintos, das am europäischen Finanzmarkt partizipiert, Prioritäten so zu legen, dass Russland und seine Unternehmen zumindest nicht bevorzugt werden.

    Ich bitte um Stellungnahme von Mintos.

    0
  • Annija (Mintos)
    Community manager

    Dear Investors,

    Under the Claim setup, all Lending Companies operate and provide Claims to Investors on Mintos Platform under the rules of the Cooperation Agreement. In accordance with the Cooperation Agreement, the Lending Company is obliged to pay pending payment interest, i.e., late interest, which is calculated every day in case of any delayed payments. 

    However, in case of a force majeure incident, i.e., any intervening event that could not have been anticipated by the parties of the Cooperation Agreement at the time of the conclusion and that could not be prevented, including, but not limited to, state of emergency, martial law, new legislation affecting the performance of the agreement and/or any other events of similar nature if the occurrence of such events prevents either party from duly performing the Cooperation Agreement.

    Due to current circumstances, the Lending Companies based in Russia and making repayments to Mintos are severely and directly affected by the war in Ukraine and sanctions imposed on Russia as well as any limitations set by Russia in retaliation to the European Union. Making repayments to Mintos in time is not in the control of the Lending Companies as they cannot make repayments in EUR and payments in RUB are gravely limited.

    When a Lending Company is able to make a transfer to Mintos in RUB, firstly there are limitations on the amount that can be transferred, secondly, the payment is not received instantly in the servicer bank and thirdly the currency exchange from RUB to EUR cannot be initiated right away. This is because the servicer banks are not willing to take on the currency risks, given the current political climate and ad-hoc decisions by the Russian government. Even when they do accept RUB, these funds can be accessed only when the bank decides to exchange them to EUR, based on their own evaluation and decision. In general, this is still a way to provide access to available funds for investors, within the reality of existing limitations. 

    Please note that the circumstances are changing constantly and even though firstly there was a slight chance that the Lending Companies will continue to operate as before and make repayments in time, in April it was clear that any possibilities of transferring funds out of Russia to Mintos will be drastically limited or not possible at all, therefore due to force majeure incident the pending payment interest won’t be charged, as it is out of the control of the Lending Company.

    0
  • JH

    Dear Annija,

    again a wrong statement.
    Pending payment interest can be suspended if the reason for the late payment is not under the control of the lending companies. This is something complete different then „force majeure“. Always these incorrect statements.

    Please correct your feedback.

    Best regards

    JH

    0
  • JH

    Dear Annija,

    I  still wait for the requested link.

    “Dear Annija,

    I know all these documents.
    Could you please read my request carefully and post the link to the requested document.

    Thank you!“

    0
  • Anna (Mintos)
    Community manager

    JH, our statement was correct - lending companies from Russia from the beginning have been willing to make due payments but it was not possible due to several limitations out of their control. We are actively working together on alternative solutions for transferring funds in RUB to investors. Please, check all our previous updates on this topic here: https://www.mintos.com/blog/russia-ukraine-war-impact-update-swift-ban-rub-plunge-pausing-listing-new-loans-from-belarus-and-more/

    0
  • JH

    Dear Annija,

    I  still wait for the requested link.

    “Dear Annija,

    I know all these documents.
    Could you please read my request carefully and post the link to the requested document.

    Thank you!“

    2
  • Fjvera

    Another crowdlending platform that is making payments from Russia and Ukraine is PEERBERRY.

    Why hasn't MINTOS made payments from Russia and Ukraine?

    MINTOS is not taking care of its investors and without investors MINTOS is nothing.

    If in August no payment has been made I will start withdrawing all my money.

    Mintos is becoming a platform that investors cannot trust.

    2

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