I transferred €60,000 to one of their clients accounts for investment purposes. The client claimed the money was never received although my recourses indicated that it was and when questioned further they indicated that the money was returned to sender which is also not true. I have tried to contact banking circle through their complaints link and then through their MIHA link with no success. This should have been a quick and straightforward process but looks like they protect scamming clients so there is no chance of recovery my money. I am really disappointed as I was told that this was a reputable bank but obviously they only care about money and not service. I want my money or to be given full disclosure of where /who my money went to. It’s a pretty simple request but because they have zero accountability the chances of getting my money back gets worse every day.
Banking Circle 回复2025-09-29
Hi Andrew,
At Banking Circle, we take fraud claims very seriously. Every claim is investigated thoroughly, and we take immediate action.
1. You are not our direct client: Banking Circle is a digital business-to-business (B2B) bank offering accounts, foreign exchange, and payment services to financial institutions, businesses, and marketplaces. The account has been opened at a Payment Service Provider, and no direct relationship exists between Banking Circle and the account holder.
2. Recourse and Investigation: To help resolve this, please ensure that you report any fraud cases directly through our contact form at https://www.bankingcircle.com/contact-us/ with the details of the company you worked with so we can either redirect the issue to the appropriate party or investigate the Payment Service Provider’s client ourselves. If we confirm that fraud has occurred, we will take immediate action to close the account to prevent any further fraudulent activity.
We also recommend that you consider filing a police report and contact your bank about sending a recall request to attempt to recover any remaining funds.
Contacted customer support THREE times about a fraud and they never answered to any of my emails.
on June 6th, June 19th, June 30th.
Not a single answer...
And I'm 100% sure they will answer with their standard copy-paste answer to this review...
Banking Circle 回复2025-07-04
Hello Ričards, we've received your email and our team has already followed up to gather more details about the payment. If there's anything else we can help with in the meantime, please don’t hesitate to reach out again.
I have an account with Banking Circle Luxembourg, I have paid all charges and requested my funds transferred to a different bank, they said okay but one day before transfer they want more money, I cannot give a anymore what do I do, my old bank does not exist anymore, what do I do?????
Banking Circle 回复2025-07-14
At Banking Circle, we take fraud claims very seriously. Every claim is investigated thoroughly, and we take immediate action.
1. You are not our direct client: Banking Circle is a digital business-to-business (B2B) bank offering accounts, foreign exchange, and payment services to financial institutions, businesses, and marketplaces. The account has been opened at a Payment Service Provider, and no direct relationship exists between Banking Circle and the account holder.
2. Recourse and Investigation: To help resolve this, please ensure that you report any fraud cases directly through our contact form at https://www.bankingcircle.com/contact-us/ with the details of the company you worked with so we can either redirect the issue to the appropriate party or investigate the Payment Service Provider’s client ourselves. If we confirm that fraud has occurred, we will take immediate action to close the account to prevent any further fraudulent activity.
We also recommend that you consider filing a police report and contact your bank about sending a recall request to attempt to recover any remaining funds.
Circle Banking Enables Fraud and Protects Scammers
We were scammed by one of Circle’s clients over 20 days ago. We reported the fraud immediately and followed all procedures on their website, submitting a formal complaint not once, but twice. To this day, we have received no response.
It is unacceptable that Circle continues to enable fraudulent activity by providing services to scammers and then ignoring reports of serious criminal behavior. By failing to act or even acknowledge our denuncia, Circle is not only failing in its duty of care—it is actively protecting scammers using its platform.
This is more than poor customer service. This is complicity.
We demand immediate action and a public explanation. Until then, we strongly advise others to avoid using Circle, as your money and trust are clearly not protected here.
Banking Circle 回复2025-05-27
At Banking Circle, we take fraud claims very seriously. Every claim is investigated thoroughly, and we take immediate action.
You are not our direct client: Banking Circle is a digital business-to-business (B2B) bank offering accounts, foreign exchange, and payment services to financial institutions, businesses, and marketplaces. The account has been opened at a Payment Service Provider, and no direct relationship exists between Banking Circle and the account holder.
Recourse and Investigation: To help resolve this, please email us at [email protected] with the details of the company you worked with so we can either redirect the issue to the appropriate party or investigate the Payment Service Provider’s client ourselves. If we confirm that fraud has occurred, we will take immediate action to close the account to prevent any further fraudulent activity. Feel free to leave your contact details here too, and we'll get in touch.
Please also ensure that you report any fraud cases directly through our contact form at https://www.bankingcircle.com/contact-us/.
We also recommend that you consider filing a police report and contact your bank about sending a recall request to attempt to recover any remaining funds.
Jeg er desværre kommet til at lave en fejl i forbindelse med en bankoverførsel, hvor jeg ved en tastefejl kom til at bytte rundt på et tal i modtagerkontoen. Jeg kontaktede straks min bank, Danske Bank, blot tre minutter efter overførslen for at forsøge at tilbageholde pengene, men desværre var overførslen allerede gennemført.
Siden da har Danske Bank forsøgt at tilbagekalde beløbet ved at kontakte modtagerbanken, Banking Circle, ad flere omgange. Trods gentagne henvendelser – både via e-mail og officielle kanaler – har vi endnu ikke modtaget nogen form for svar fra Banking Circle.
Jeg har forsøgt at kontakte Banking Circle selv, men det har vist sig umuligt at finde et gyldigt telefonnummer, og mine mails er heller ikke blevet besvaret. Det drejer sig om et betydeligt beløb, og mit firma står nu i alvorlig risiko for konkurs, hvis ikke pengene bliver tilbageført.
Jeg har rådført mig med en advokat og har desuden kontaktet DR's Kontant-redaktion med henblik på at belyse sagen i et tv-program. Jeg planlægger også at kontakte medier i de lande, hvor Banking Circle har kontor, for at kaste lys over deres manglende ansvar og mulige rolle i hvidvask eller svindel. Derudover vil der blive indgivet en politianmeldelse.
Jeg ser det som mit ansvar at advare andre mod lignende oplevelser med en aktør, der opererer uden gennemsigtighed og uden vilje til at samarbejde.
Unfortunately, I made a mistake during a bank transfer, where a typing error caused me to switch two digits in the recipient's account number. I called my bank, Danske Bank, just three minutes after the transfer to try to stop the transaction, but it was already completed.
Since then, Danske Bank has tried several times to recall the funds by contacting the receiving bank, Banking Circle. Despite multiple attempts – via email and official channels – there has been no response from Banking Circle whatsoever.
I have also tried to contact Banking Circle directly, but it has proven impossible to find a valid phone number, and my emails have gone unanswered. This concerns a substantial amount of money, and my company is now at serious risk of bankruptcy unless the funds are recovered.
I have consulted a lawyer and contacted the Danish national broadcaster DR’s Kontant programme in order to bring public attention to this matter. I also plan to reach out to media outlets in countries where Banking Circle has offices, to expose what I see as a lack of accountability and a possible involvement in money laundering or fraud. Additionally, a police report will be filed.
I feel it is my duty to warn others about this experience with an institution operating without transparency or willingness to assist.
Banking Circle 回复2025-05-09
Hej Obaid
Tak fordi du gjorde os opmærksom på følgende fejloverførsel. Vi har nu afsluttet vores undersøgelse af sagen og kan bekræfte, at pengene blev returneret til din konto den 16. maj. Vi glæder os over, at vi kunne hjælpe dig og vil værdsætte, hvis du vil overveje at opdatere din anmeldelse, så den reflekterer din seneste oplevelse med Banking Circle. Hvis du har yderligere spørgsmål, er du selvfølgelig velkommen til at kontakte os igen.
Venlig hilsen
Banking Circle
Dealing with the data team was a disgrace.
Wasted hours and hours of our time on a potential consultancy engagement, only to reveal they were using this to get a discount from their old service by threatening to leave them. Wasted time, effort, and tripped over their own feet.
Then 'procurement' chose to not contact us for weeks.
Slimy way to do business, and from the reviews of how they treat their customers below, I can see it's part of the company culture. Do better.
Banking Circle 回复2025-03-26
Thank you for your feedback. We value the input from our partners and will review the situation internally.
I have a bank account with Vivid money SA and I got an international transaction of 680 USD that Banking circle SA are locking and not reverting it back to the sender's account! Vivid Money SA are a big scam since they are claiming they can't do anything about the transfer, including Banking Cricle SA that are holding the money and not reverting the amount back to the sender's account. What an amazing service and customer service that is! Stay away from both of them!
Banking Circle 回复2025-01-10
At Banking Circle, we take fraud claims very seriously. Every claim is investigated thoroughly, and we take immediate action.
1. You are not our direct client: Banking Circle is a digital business-to-business (B2B) bank offering accounts, foreign exchange, and payment services to financial institutions, businesses, and marketplaces. The account has been opened at a Payment Service Provider, and no direct relationship exists between Banking Circle and the account holder.
2. Recourse and Investigation: To help resolve this, please email us with the details of the company you worked with so we can either redirect the issue to the appropriate party or investigate the Payment Service Provider’s client ourselves. If we confirm that fraud has occurred, we will take immediate action to close the account to prevent any further fraudulent activity.
Please also ensure that you report any fraud cases directly to our internal email at [email protected].
"My Swiss bank sent 1000 CHF to one of your Vivid IBANS but the transfer of 1002.04 CHF is still missing. Vivid says there's nothing they can do, but your bank is the recipient of the payment with SWIFT. I will now hand this over to a lawyer and report it to BaFin to take action against your company.
Banking Circle 回复2025-01-08
At Banking Circle, we take fraud claims very seriously. Every claim is investigated thoroughly, and we take immediate action.
You are not our direct client: Banking Circle is a digital business-to-business (B2B) bank offering accounts, foreign exchange, and payment services to financial institutions, businesses, and marketplaces. The account has been opened at a Payment Service Provider, and no direct relationship exists between Banking Circle and the account holder.
Recourse and Investigation: To help resolve this, please email us with the details of the company you worked with so we can either redirect the issue to the appropriate party or investigate the Payment Service Provider’s client ourselves. If we confirm that fraud has occurred, we will take immediate action to close the account to prevent any further fraudulent activity.
Please also ensure that you report any fraud cases directly to our internal email at [email protected].
This is a horrible set-up connected with the VertoFX scam. They have no trace of what is going on with transactions that just dissapears into thin air, so other - real banks - have to clean up the mess and get the money back. No idea how regulators allows this to be going on with VertoFX as the apparently succesfull fintech (but horrible governance and not reliable) frontend, and this Banking Circle in the back-end, that my banks have now refused to make transfers towards.
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