Choice Bank : #Payoneer card issuer in liquidity-constrained position

Choice Bank of Belize, the card issuer for several adult payment solutions, is currently in “liquidity-constrained position” by the country’s regulatory authorities, according to sources.

The Belize bank has established card payment systems with other companies, such as Paxum and Payoneer FirstChoice Pay.

Due to the freezing of funds by Choice Bank, these payment systems are now unable to allow some of their customers to manage funds.

Emails sent to operators of adult services, such as affiliate networks or camgirls, describe the situation as follows:

“We have been informed by FirstChoicePay / Payoneer that they have completely shut down their payment services, and are effectively out of business. All of their customers’ funds, including over $100,000 of our payroll funds, have been frozen by their bank, Choice Bank Limited of Belize indefinitely”

Brandon Abbey of Payoneer Escrow, stepped in a thread over at NamePros, to clarify that Payoneer the escrow company is not shutting down. He will share the updates on the FirstChoice Pay product as soon as possible.

There are speculations that MasterCard has closed the Choice Bank’s account, due to the ongoing anti sex industry law, FOSTA/SESTA, along with angry comments about FirstChoice Pay on Twitter.

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Update: Payoneer sent the following message to FirstChoice Pay customers:

With regret, we are writing to inform you that Firstchoice Pay is not receiving or processing any further payments, effective immediately.

Please be aware that you are not able to receive any new payments through Firstchoice Pay. We trust that the companies that pay you will be offering a new way for you to receive your payments. Please contact them directly for more information.

The balance on your card remains available for you to withdraw at ATMs or spend. Your transactions can be viewed and tracked through your account and we will continue to provide you with full customer support.

We would like to take this opportunity to thank you for your business. We have greatly enjoyed serving many loyal customers and offer sincere apologies for any inconvenience this may cause.

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