Algotechs and BeAlgo Withdrawal Issues

oscarra

2nd Lieutenant
Messages
1,181
BeAlgo says that they dont have direct account with the bank, instead they operated via UPayCard services and UPayCard has the account with the bank.
https://register.fca.org.uk/shpo_nosearchresultpage?mainsearchString=bealgo.com&search=BeAlgo.com

...what it means (if true) Moorwand/UPaycard is providing payment service to an unauthorized Broker via their account within Andelskassa, inside EU it refers to Fraud, in that case most likely the funds have already disappeared transferred by UPaycard, unless dk. Gov. freezing action managed to block all . You would need some more evidence prove about account ownership, check it out with other members, it may also involve different Brokers
 

Chuckyarla

Recruit
Messages
3
I'm in the same position as you all. Tried to withdraw money and got the old Danish bank story. The only connection between Bealgo and the Danish bank is UPayCard. UPayCard is an FCA registered company so whether or not they are part of the scam is hard to say. UPayCard and Moorwand are the same company and they haver the same (sole) director as UPC Consulting with the same address. So it's probably safe to assume that UPC Consulting ( to whom the bank transfers were made) is the same as UPayCard. Who exactly EW Trading Finance ( to whom credit card transfers were made) is another question. Although UPayCard is an FCA registered company, they share the same address as Algotechs in London (supposedly) which looks very dubious. I believe that Algotechs and Bealgo are one and the same. It's all smoke and mirrors designed to make the money trail impossible to follow. The best bet is to tackle it through UPayCard as they have to answer to the FCA and FOS. If they are not part of the scam then they won't want to be associated with scammers and will try to help the victims of Algotechs/Bealgo. Regrding the 'award' from the European magazine, it appears that they basically bought it and wrote the review themselves.
 

MsVastav

Recruit
Messages
1
I have tried to contact everyone involved here. The agency says that they have taken control of the bank and are not allowed to disclose anything. BeAlgo says that they dont have direct account with the bank, instead they operated via UPayCard services and UPayCard has the account with the bank.

I am really confused what can be done to get my funds back. How can I start a legal proceedings against them?
Hello hverma,

Even I invested in Algotechs and I am a little bit worried after reading all these posts. Can you update if something happened recently? Thanks
 

StefanForex

Recruit
Messages
1
Hi I use Algotechs since May 2017 and have start with an investment of 3000€ over the time to now I have withdrawal 9500€ and have now 8500€ on my account what work for me.
The time for to get my withdrawals was normally 3 to 5 working days over bank wire and 3 days over credit card.
So from my view I can not agree that algotechs is a Scam and my friends what use algotechs to since June 2017 have no problems too and have got their deposit investments back. My last withdrawal from Bealgo over bank wire came from the Deutsche Bank in Spain. The last withdrawals last year came from MORWAND LTD UpayCard but they use now other partner.
The monthly gain of Algotechs is 6% to 7% so it is a good passive income for me now.
 

Guigass

Recruit
Messages
2
Hi everyone, recently (last week) I have requested a withdrawal of 3000 euros in my credit card. They have paid me first 500e what made me concern about scam and lead me to this forum. But fortunately they have credit me the rest of the money 2500 in the day after aso in my credit card as requested. I hope this can bring some tranquility for some members of the forum.
 

FxMaster

Lt. Colonel
Messages
9,154
Hi everyone, recently (last week) I have requested a withdrawal of 3000 euros in my credit card. They have paid me first 500e what made me concern about scam and lead me to this forum. But fortunately they have credit me the rest of the money 2500 in the day after aso in my credit card as requested. I hope this can bring some tranquility for some members of the forum.
Didn't get your point yet :(
 

FxMaster

Lt. Colonel
Messages
9,154
My

hi! My point was to say that for me the withdrawal with Bealgo went well. I thought it could amenize any anxiety that some users are experiencing.
Yes but if someone getting problem then company has to make it solve or atleast they can add reply here.
 
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