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Proof of Residence

Kommentare

7 Kommentare

  • Lucja (Mintos)
    Community moderator

    Dear Investor,

    Thank you for your comment and suggestion. 

    Stay assured that we do not overlook any case, but the verification of the documents might take up to several days. As soon as they are checked or any further clarification is needed, we will get in touch with you. Meantime, we appreciate your understanding and patience.

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  • Jurriaan Harold Meijer

    Update: unfortunately exact the same issue happens to me again.

    Mintos keeps asking me for submitting my residency details. I provided these on April 18, 2024 and till now they keep my account locked…

    It seems it’s impossible to invest as a bona fide European expat from Asia. The compliance team makes my life miserable.

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  • Cristóbal Lara Fuentes

    That’s terrible! I can’t believe Mintos is doing that. Please keep your situation updated, if money is not safe in Mintos it’s better to leave and move to another company.

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  • Jurriaan Harold Meijer

    Thank you very much for your sympathy.

    The issue is that customers living outside the EU and/or “suspicious” countries (which meanwhile is half of the planet) are automatically considered potential criminals engaging in money laundering or even terrorism.

    This is due to EU-legislation getting tighter and crazier by the day. Banks therefore implement zero trust policies ostracizing their clients, even those who have legitimate funds taxed in the EU.

    It unfortunately means that doing business with financial institutions like Mintos becomes impossible. I’m suffering this ordeal for the third time within two years.

    What Mintos can be held to account for however is their complete lack of transparency and refusal to inform customers about progress. It has been almost two months since I uploaded requested documentation, and my account has been restricted ever since.

    Mintos has outsourced verification of clients to a company called Veriff (they showcase Mintos as reference customer) that claims using “AI-based” verification methods. Maybe the issue sits there. I do not know.

    Mintos states that “Most EU citizens as well as additional eligible nationalities over the age of 18 can register and invest.” That’s too vague.

    I rather prefer Mintos to publish a limitative list of countries of residence acceptable to them rather than taking my money, withholding tax and making my life miserable by blocking access to my funds. Till then my advice is to NOT invest with Mintos until they clarify their policies in this regard.

    Meanwhile, I’m still waiting for clear answers from Mintos, and if not provided shall request support from financial regulators in Latvia.

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  • Ugo Joan Feri De Geus

    Mintos has a rather dubious track record in this. Of course, always with the argument of security. I regularly work in an African country but as soon as I open the Mintos app they block my account. In contrast, on holiday in Italy I can open as many times without sanctions. Pretty weird as they do offer loans from Botswana. Uganda etc. Feels like discrimination. Mintos is able to apply a security system if they want where they can still see that it is my app and my mobile wherever I am.

     

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  • Jurriaan Harold Meijer

    You're right; "geoblocking" has escalated into a significant issue, with many financial institutions resorting to blacklisting entire countries or regions. In my location and during travel, I often require a VPN connection to access websites and apps of numerous financial or government institutions in Europe, or I must request that they whitelist my IP address.

    To be fair, the surge in cybersecurity threats and scams has led web administrators to adopt a broad-stroke approach, often blacklisting evrything east of Warsaw and south of Gibraltar...

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  • Lucja (Mintos)
    Community moderator

    At Mintos, we are committed to complying with regulatory requirements and ensuring the security and integrity of our platform. As part of this commitment, we periodically require proof of residence to verify that the investors are still residing in an accepted country as listed on the Mintos website during the registration process. This is particularly important to confirm that investors are residing in the country they have declared.

    The need for frequent address verification is driven by our compliance with regulatory standards. We understand this might be inconvenient, but it is essential to ensure that we remain compliant with applicable laws and regulations. Periodic verification helps us to prevent fraudulent activities and maintain the security of our platform.

    In regard to your question about Veriff's collaboration and our verification policies and processes, we cannot provide specific details because it has a direct impact not only on our internal control mechanisms but also on maintaining the confidentiality of our customers.

     

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