Live-chat with Mintos CEO - heute 19 Uhr hier im Forum

[Mintos]

Hi everyone! It's Martins Sulte (CEO and Co-Founder) from Mintos* here.

We would like to try out a new way of being more present in this community, which is actually the oldest out there running from the very beginning when we launched in 2015 (thanks to Claus Lehmann)!

The idea is to do a live-chat where I am online here for couple of hours at a pre-defined time and answer all questions that are asked. If it goes well and you find it valuable then we could do it on a regular basis.

The first session we could do next week on Wednesday, June 15. I added a poll to ask what time would suit best for the majority. The more people are online at that time, the more we can engage in discussion. All the answers of course will be available afterwards anyway.

Meanwhile, feel free to already start asking questions!

Best,
Martins

[Mintos]

Btw, if it is easier feel free to ask the questions also in German. I will use Google Translate to translate them. The answer will be in English though, but here also Google Translate can help.

[mastac]

I quite like this idea, so I start the ball rolling with some questions.

Of course I start with notes

1) Which forms will Mintos* accept for the reduced withholding taxe rate? Any as long as the tax residency is confirmed by a tax office?

2) Where do I see my current tax status in mintos?

3) What happens when interests from notes are received before my tax residency is confirmed by Mintos? Will Mintos* reduce the tax rate retroactively and refund overpayments?

So long for the moment. Many thanks and I am looking forward.

[Mintos]

Thank you all for answering the poll. I will be online here today starting 7pm Berlin time. Looking forward to it.

Best,
Martins

[Bandit55555]

4) Is there a chance that if a Mintos* Account is limited because of proof of funds, that it can be solved quicker, or that it is answered at all?
My Mintos* Account is limited several weeks although I try to upload the required documents, but no response over email, or Live Chat (Only that they will forward it). I have over 12.000€ not invested and this sum is not generate Interest many weeks now.

I would be ready to pay a fee, for example 100€, if my Account would be unlocked quicker in several days, or the Support would say what Documents they need, or what the problem is.

The last times proof of funds at Mintos* of my Account was very nice. Always only several days and they get back to me very quick.
_________________
Meine Rendite: Erhaltene Zinsen:
Finbee: 153.000€,
Omaraha: 108.000€

[Claus Lehmann]

As verification is an issue that affected several investors here in the forum
https://www.p2p-kredite.com/diskussion/mintos-verifizierung-t6194,start,405.html
some broader questions around this topic

5) Other p2p lending services have to comply with KYC and AML too. However at Mintos* it seems more arduous and lenghty.
Why does Mintos* require very old documents i some cases? E.g. on investor reports he had to submit tax statements from 2018 to 2020.

6) Is the verification handled by general support staff. or is there a dedicated team. How many employees are working on this task?

7) One user states that it takes so long, because there is only one answer/reply cycle completed per week. E.g. he sends the docs, then there is an answer after 3 days, then 2 days are lost due to weekend.
Any chance to prioritize/optimize verification in future over other support issues?
_________________
Meine Investments (aktualisiert 03/22):
Laufend: Bondora*, Investly*, Estateguru*, Ablrate*, Moneything* (Rest), Crowdestate* (Rest), Fellow Finance* (Rest), October* (Rest), Linked Finance*, Lenndy* (Rest), Assetz*, Plenti, Neofinance* (Rest), Lendermarket*,
Beendet: Smava*, Auxmoney*, MyC4, Zidisha, Crosslend*, Lendico*, Omarahee, Lendy*, Bondmason, Finbee*, Bulkestate*, Zlty, Mintos*, Iuvo*, Robocash*, Viainvest*, Viventor*
Crowdinvesting: Seedrs*, Crowdcube, Housers* (Rest), Reinvest24*, Landex*

[Claus Lehmann]

In einer halben Stunde um 19 Uhr geht es los.

Gerne könnt ihr aber vorher schon Fragen hier reinstellen. Fragen könnt ihr sowohl auf Deutsch oder auch in Englisch, wie ihr mögt. Die Antworten werden allerdings alle in englischer Sprache kommen.
_________________
Meine Investments (aktualisiert 03/22):
Laufend: Bondora*, Investly*, Estateguru*, Ablrate*, Moneything* (Rest), Crowdestate* (Rest), Fellow Finance* (Rest), October* (Rest), Linked Finance*, Lenndy* (Rest), Assetz*, Plenti, Neofinance* (Rest), Lendermarket*,
Beendet: Smava*, Auxmoney*, MyC4, Zidisha, Crosslend*, Lendico*, Omarahee, Lendy*, Bondmason, Finbee*, Bulkestate*, Zlty, Mintos*, Iuvo*, Robocash*, Viainvest*, Viventor*
Crowdinvesting: Seedrs*, Crowdcube, Housers* (Rest), Reinvest24*, Landex*

[Mintos]

Hello everyone! I will be online for the next 1-2 hours and will answer all questions. Thanks for the ones that have been already asked. Will start with those.

[Claus Lehmann]

Welcome Martins! Thanks for taking the time to answer questions here. It is appreciated.
_________________
Meine Investments (aktualisiert 03/22):
Laufend: Bondora*, Investly*, Estateguru*, Ablrate*, Moneything* (Rest), Crowdestate* (Rest), Fellow Finance* (Rest), October* (Rest), Linked Finance*, Lenndy* (Rest), Assetz*, Plenti, Neofinance* (Rest), Lendermarket*,
Beendet: Smava*, Auxmoney*, MyC4, Zidisha, Crosslend*, Lendico*, Omarahee, Lendy*, Bondmason, Finbee*, Bulkestate*, Zlty, Mintos*, Iuvo*, Robocash*, Viainvest*, Viventor*
Crowdinvesting: Seedrs*, Crowdcube, Housers* (Rest), Reinvest24*, Landex*

[Mintos]

Thanks for the questions.

1) The form of the document depends on the country. In general, you are right, the document should be good as long as the tax residency is confirmed by the tax office. We will provide more guidance on what to submit etc, after we launch Notes and can devote resources to other things.

2) It should be under Tax details, which you can find up right.

3) The reduced rate cannot be applied retrospectively. It will be applied from the moment we receive and confirm the tax residency document.

[Mintos]

Indeed, we recently have been reviewing the submitted AML documents slower than we would like to. That has been caused by an increased number of cases as lately investors are depositing more to take advantage of favourable rates and cashback campaigns. I am now involved myself to make sure we get back to processing these cases much faster.

Sorry to hear about your experience. That is not acceptable. Can you please send your investor ID and/or email to my email at martins.sulte@mintos.com. I will take a look and ask the team about this case.

[Mintos]

5) It's hard to comment about other platforms. Maybe they are not regulated, or they have never had an AML audit, or they have a more lax attitude towards AML in general. We follow the same regulation that the banks have to follow and the law is rather strict in that we have to have sufficient proof of funds. That sometimes might mean that we have to request documents that go back several years.

6) It's both AML team and our Investor Service team who are involved with AML. In total it's about 30 people across those teams.

7) Yes, this is actually what we have been looking into in the last couple of weeks. It is an issue and indeed it is not acceptable that it takes so long for us to respond.

[GeldRegiertDieWelt]

Do you expect an improvement re: pending payments once everything has been moved to notes?

[Mintos]

Yes, but that is not necessarily related to moving to Notes. We will be more strict with what is classified as pending payments as they really should be only payments that are funds in transit which is part of the ordinary course of business. The cases such as with ID Finance Mexico should go to In Recovery and be dealt with accordingly.

[GeldRegiertDieWelt]