Bbanc and Multibank Group

Velvetgoldmum

Hi there. I recently invested some money with Bbanc but when I said o couldn’t add any more money they kind of gave up on me and said they can’t work with me anymore. There is a fee to withdraw my money, which I don’t currently have. 

I’m a little concerned about their legitimacy as their reviews all seem to be posted very recently whereas they say they have been operating since 2005.  I know I should have checked this before I handed over any money so that is my error. 

I have been looking into their website and there is another identical website up and running  to Bbanc which is called Multibank Group. They say that Bbanc is nothing to do with them. Has anyone dealt with Bbanc before and are they legit?

Many thanks for taking the time to read this.

fwor

The signs are not good. Bbanc seems to be based outside the UK, on St Vincent and the Grenadines, the regulation that they supposedly comply with is African, as best I can tell, and the details of their internet domain ownership are hidden by a privacy service based in Reykjavic. All of those things (and the wording of their website) scream "Scam", to me at least.

Probably the best thing for you to assume is that you will never see your money again, because attempts to get it back are likely to be met with attempts to get more money from you.

If you made payment by bank transfer then it may be possible to get the money back from your bank. That does of course depend on what method you used to pay money to Bbanc.

Velvetgoldmum

Thank you. They want £3000 plus from me to withdraw my £20,000 which I don’t have. The only option for me to get that much money was to take the cash out from my credit card but I would be charged daily compound interest and that’s not a risk I’m willing to take, hence my research. They are very reluctant to let me take the money out in chunks at a time which I would be able to afford and suggested I got a loan, just like that, which I was not prepared to do. Thank you for your comments.

Velvetgoldmum

I must add that I did not invest £20,000 with them but that is what my investment went up to.

Daliah

They want another £3,000 from you, on top of what you already gave them. You'll never see a penny of what you already gave them, so don't give them another £3,000. Cut your losses, change your phone number(s), email address(es), and whatever  social media accounts you have.

msallen

Your "investment" almost certainly doesn't exist. They are simply telling you it has grown substantially to get you to "invest" more. What are you supposedly invested in and how much of that 20K is supposed profit?

eskbanker

Velvetgoldmum said:

I must add that I did not invest £20,000 with them but that is what my investment went up to.

Correction - that's what they said your 'investment' went up to.  There never was an investment as such, but claiming that your money has multiplied in order to keep you on the hook is a classic scam, as is the request for a further payment to 'release' what is notionally in there.

Eco_Miser

It won't work, but tell them to deduct their withdrawal fee from the £20k and send you the rest.  The explanation of why they can't do that should be entertaining at least.

Malthusian

Eco_Miser said:

It won't work, but tell them to deduct their withdrawal fee from the £20k and send you the rest.  The explanation of why they can't do that should be entertaining at least.

Or convincing enough that the OP decides to borrow some money and pay the withdrawal fee. Remember, the OP already fell for their patter once.

@OP: As others have said the money is gone and the £20,000 doesn't exist. Depending on how you paid the money to them, you might be able to investigate the following avenues for redress:

• Bank transfer - push payment fraud reclaim
• Debit card - chargeback
• Credit card - section 75 claim
  

Velvetgoldmum

Thank you all. I’m going to speak to my bank as it was by bank transfer. I have their emails still so will see what the bank may be able to do. I feel like such an idiot!

Eyeful

Out of interest
(a) How did you get to hear about both of these?
 (b) what made you invest with Bbanc?
 (c) what checks did you do before sending them your money?
 (d) what did your bank say about getting your money back?

I have found the sites below useful for the initial checking out of websites. See what they say.
https://www.scamdoc.com/
https://www.scam-detector.com/validator/
https://www.scamadviser.com/