Grupeer updates clients on its issues with deposits.

P2P Investments – Grupeer Sorts Out Its Deposit Issues

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Those that have tried to send money through to Grupeer in the last couple of weeks may have faced issues with deposits reaching the platform.

The Problem

The problem isn’t fully specified, but we do know some details.

Grupeer swapped payment systems at the start of March 2019. They entered into an agreement with ONPEX Bank to combine with their other payment methods including SatchelPay and Transferwise. Investors who sent money through ONPEX Bank did not receive the money into their Grupeer accounts. Grupeer contacted the bank and tried negotiating to get the money to be sent through. Negotiations did not work, and the deposits became frozen. That money is now stuck between ONPEX Bank and the Grupeer platform.

The Solution

Grupeer has decided to pay out customers from their own accounts until the issue is resolved. However, Grupeer does not have information on which clients encountered problems. If you have been affected, send an authorised payment confirmation (showing the sender, beneficiary and the payment) to Grupeer. After receiving the authorisation, Grupeer will credit your account with any missing funds.

Subsequently, Grupeer has terminated their relationship with ONPEX bank and have now moved operations to Baltic International Bank. More here. (will prompt you to sign in)

Grupeer currently offers an average return of 14.27%. You can find my platform review here.

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