Warning Investors Cloning of 3S Money (Luxembourg) S.A. – Regarding market intermediaries (investment and trading advisers, collective investment schemes, brokers, dealers, and transfer agents)
Introduction
In the ever-evolving landscape of electronic money institutions, 3S Money (Luxembourg) S.A. stands as a noteworthy player, offering businesses a comprehensive suite of cross-border payment and banking services. In this review, we will delve into the company’s background, regulatory compliance, reputation, and customer support, and address the critical issue of fraudulent activities targeting the institution. By the end of this assessment, you’ll have a clear understanding of what 3S Money (Luxembourg) S.A. has to offer and how to safeguard yourself against potential scammers.
Who are they?
3S Money (Luxembourg) S.A. operates as a subsidiary under the umbrella of 3S Money Group, a prominent UK-based fintech company that extends its services across various European countries. Established in 2016, 3S Money (Luxembourg) S.A. has rapidly grown, servicing a diverse clientele spanning e-commerce, gaming, travel, education, and beyond. Their core mission revolves around providing fast, secure, and transparent cross-border payment solutions for businesses operating on a global scale.
Regulation and Compliance
An institution’s regulatory framework is a pivotal factor when evaluating its credibility, and 3S Money (Luxembourg) S.A. takes this aspect seriously. They are duly authorized and regulated by the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg’s financial regulatory authority. The institution holds an electronic money institution license, enabling it to issue electronic money and provide payment services within the European Economic Area (EEA). Furthermore, 3S Money (Luxembourg) S.A. is subject to the rigorous anti-money laundering (AML) and counter-terrorism financing (CTF) regulations enforced by Luxembourg and the EEA.
However, a red flag emerged on September 30, 2021, when the CSSF issued a warning about fraudulent activities linked to 3S Money (Luxembourg) S.A. The warning pertained to unknown individuals impersonating the company’s representatives and reaching out to potential clients via email or phone, with deceptive offers of investment opportunities and loans. These scammers even went as far as creating a bogus website and email address using the domain name ‘3smoney.info,’ which has no affiliation with the legitimate company.
To stay safe, the CSSF advises the public to exercise caution and not respond to any such solicitations. The genuine contact details for 3S Money (Luxembourg) S.A. are:
– Company name: 3S Money (Luxembourg) S.A.
– Website: [3S Money Official Website](https://www.3s.money/)
– Email address: [email protected]
– Phone number: +352 28 48 78 20
– Registered office: 2-4 rue Eugène Ruppert, L-2453 Luxembourg
Customer Reviews
The reputation of 3S Money (Luxembourg) S.A. shines brightly, with customers expressing their satisfaction across various platforms. Trustpilot, a prominent customer review site, boasts a plethora of positive reviews, where clients laud the company’s professionalism, efficiency, and superior customer service. With an impressive rating of 4.8 out of 5 stars based on 117 reviews, it’s evident that many have had outstanding experiences with 3S Money. Some testimonials include:
– “Excellent service, fast and reliable. I highly recommend 3S Money for any cross-border payments needs.” – Daniel
– “3S Money is a great partner for our business. They provide us with a dedicated account manager who is always available and helpful. They also offer competitive rates and fees for our international transactions.” – Anna
– “Very happy with 3S Money. They have helped us expand our business in Europe and beyond. They are easy to use, secure, and transparent.” – Michael
Products and Services
3S Money (Luxembourg) S.A. offers a comprehensive range of products and services tailored to meet the diverse needs of businesses engaged in cross-border transactions. These offerings include:
– Multi-currency accounts: The institution provides businesses with local IBAN accounts in over 30 currencies, facilitating seamless payments in their preferred currency without incurring conversion fees or time-consuming delays.
– FX services: Offering competitive exchange rates and low fees for currency conversions, 3S Money (Luxembourg) S.A. empowers businesses to secure favorable rates for current transactions or hedge against potential currency fluctuations using forward contracts.
– Payment gateway: Businesses can harness 3S Money’s services to accept online payments from customers worldwide, supporting over 150 payment methods, including credit cards, debit cards, and alternative payment options. The platform also integrates fraud prevention and compliance tools.
– Banking platform: A user-friendly online platform allows businesses to efficiently manage their accounts, transactions, invoices, and beneficiaries, and generate reports. This platform also seamlessly integrates with popular accounting software and ERP systems.
Location
Headquartered in the capital of Luxembourg, Luxembourg City, 3S Money (Luxembourg) S.A. extends its reach through offices in various international locations, including London, Amsterdam, Vilnius, Riga, Dubai, Singapore, Hong Kong, and Shanghai.
Customer Service
3S Money (Luxembourg) S.A. places a strong emphasis on delivering top-tier customer service. Each client is assigned a dedicated account manager who stands ready to assist with queries and concerns. The company also maintains a responsive support team reachable through email or phone during standard business hours.
Conclusion
3S Money (Luxembourg) S.A. emerges as a reputable electronic money institution, offering an impressive array of cross-border payment and banking solutions to businesses. Their stringent regulatory compliance and high customer satisfaction rating affirm their credibility. Nevertheless, the institution has been targeted by fraudulent actors seeking to exploit their name and contacts. Therefore, it is imperative for potential clients to exercise caution, verify the authenticity of the company, and be vigilant in the face of scammers attempting to tarnish their reputations. With proper due diligence, 3S Money (Luxembourg) S.A. remains a reliable partner for businesses looking to streamline their cross-border financial operations.
