The company is called Anvex Trades and they are based out of the UK. I have seen many inconsistencies in this account manager, and I can see it right through her lies. Yes, shame on me for falling for this BS, lesson learned, but a hard one at that. I have since moved on, and I’m trying to clean up the mess that I made because I am severely in debt right now. And I agree that using WhatsApp app to communicate with your investors is a shady way of doing business. TD America, or any other reputable investment company would pick up the phone and call their investors directly and not use what’s up app platform to have conversations. I’m just curious if anyone can answer this question, is there such a thing as an international wire, transfer fee or an insurance fee for a profit to be wired to a bank account?
She just came back and told me that insurance is required on a cryptocurrency trade/wire transfer. Is that true?– LeeMar 1 at 10:57
6Of course not. Why are you still talking to these people?– keshlamMar 1 at 16:16
Oh, I’m not talking to these people anymore. I just wanted to know why in the first place she was even asking me for an insurance fee so I can warn other people because I’m just getting back on my feet and thankfully have put this all behind me. I’m glad I join us for him because I got some great info!– LeeMar 1 at 16:25
Yes, transfer fees are normal, especially for international transfers. However, they are either charged to the source account, or taken out of the amount that is transferred.
I don't know of a case where you will have to pay a separate fee (as in, send in money separately) in order to "transfer" or "access" your money.
If they are asking you to send them a fee, rather than deducting it from what they are sending you, then it is almost certain that there is no money and you are being scammed. Whether or not the fee is legitimate.
And I only say "almost" because an exception may happen once or twice before the heat-death of the universe.
I agree that "insurance" here is completely bogus. Wire transfers are basic bank-to-bank transactions; if they were unreliable the whole international banking system would be in danger of collapse. There is no reason to insure against a failure that simply will not happen.
She’s telling me there is an insurance fee of $4800 to be paid on a cryptocurrency wire transfer. Is this true? Mar 1 at 15:04
3@Lee as this answer and many other answers have stated, there is no such thing.– EstherMar 1 at 15:24
3@Lee There is no such thing. Cryptocurrency transfer is not a wire transfer and there's no insurance for wire transfers (apart from the reputable bank's internal processes and the supervising body's authority over them, both missing from cryptocurrency transfers). Mar 1 at 15:24
2There's no insurance fee on crypto transfers either, of course. Basically, nothing they have been telling you has ever been true, starting from their names. You got rooked, plain and simple. Chalk it up as expensive tuition for a lesson in skepticism, learn from it, wave goodbye to your money, hope the Powers That Be can find and step on these cockroaches, and move on. There really isn't much more you can do here.– keshlamMar 1 at 16:09
This seems to be a scam. A reputable company would, as you said, pick up the phone and have a properly staffed customer service department. Traders have to be licensed, and calls be documented and recorded.
There are other trading companies with similar (but not exactly same) names, which this scam is trying to impersonate. The other companies are not based in the UK (I found one in India, and another in UAE - they may both be affiliated, not sure).
Wire fees are usually at around $50 for international transfers or a percentage of the transferred value (which would be at around a similar amount). These are deducted from the funds transferred, not paid up-front as in this seemingly scam. There are no "insurance fees" for international transfers.
See also this question, which seems to describe a situation similar to yours (edit: it is in fact yours, I didn't realize it's the same poster).
This is exactly what I thought. This woman wants me to pay her $4800 for an insurance fee to wire my funds to my account. She’ll call me, but then she’ll hang up just to get my attention. And why she cannot speak to me over the phone. It’s clearly a scam. My eyes have opened up very wide to this whole mess and I am just moving forward from here and blocking them completely. Feb 28 at 21:17
3Yep, definitely a scam. Look up "advance fee" scams. There are no funds, you will receive no wires, and any money you already gave them is lost. Forget about the money, learn from the experience, block the scammers, move on, and expect more people to try and pull tricks on you now that they know it could work. Feb 28 at 21:52
So there’s no such thing as an insurance fee for a wire transfer that has already been initiated?She told me that I had to pay the fee in order to get the funds into my bank account. Mar 1 at 0:09
4@Lee of course not. Mar 1 at 0:15
Although everything was written already, I am still answering now in the hope you do not believe that there is a fee you need to pay to get your money back.
Based on the original question, not sure of you spent 500, or something around 10.000. Either way, do NOT, I repeat NOT, pay them another 2450 so that you think you you get 10.000 back.
If there is a fee, they should deduct it and send you the rest. If you transfer money internationally, there are often fees but you pay them with the money in the account. Say you transfer 100, but only receive 95 because they charges 5 for the service. Revolut for example charges 0.3% of the transfer amount, with a minimum cost of $0.30 and a maximum cost of $6 per transaction.
In case I wasn't clear, do NOT send another 2450 to them (or anyone else). For that sum, you could pick it up personally, flying business class...
If you add another 4800 for insurance, you are getting close to flying in a private jet to pick up "your" money...
Start to think rationally! Who on earth would buy/invest in crypto currency (or whatever), if there was a fee / insurance premium that costs a few thousand dollars to get your money back.
Revolut is not a bank and is not performing wire transfers. I wish you'd stop spamming about them, really Mar 1 at 6:31
It's the first time I mentioned revolut and you call it spamming? It may not be a bank, yet you can transfer money with it, also internationally. The OP is asking about a fee of 2450. This was literally a simple example to show that fees can in no way be that high.– AKdemyMar 1 at 7:09
I guess I just keep seeing it being plugged whether its relevant or not, so I just assume it's part of the same spam attack. Mar 1 at 7:13