We would like to inform you that all Mastercard and Mastercard Platinum debit cards linked to corporate and private accounts with Loyal Bank Limited are suspended in accordance with the directives received from Mastercard International. This suspension applies on the payroll cards only after the 16th of April, 2018.
The Bank is in continous discussions with Mastercard in order to reach an agreement to resolve the situation.
This current events also affect the Bank’s existing relationship with its intermediary partners. At the same time, according to the directives from our regulatory authorities, our outgoing transfers are subject to enhanced due-diligence review which may result that some transactions will be refused or considerably delayed.
These measures are taken due to the ongoing process against Beaufort Securities where Loyal Bank has been indicted, however we are convinced that the Bank has not been involved in any intentional wrongdoing, and we hope that the current suspension of our services is only a temporary measure until the legal procedures are closed.
We are asking for your patience and regular updates will be announced on our website.
LOYAL BANK LIMITED