86FB/86Z Communications Regarding Flutterwave/WITHDRAWALS

86FB/86Z Communications Regarding Flutterwave/WITHDRAWALS

It has become obvious that the 86fb Football platform has been faced out of operation courtesy challenges ranging from withdrawal, Deposit and Flutterwave controversy. This is the summary of all that actually transpired between the both parties.

86FB/86Z Communications Regarding Flutterwave/WITHDRAWALS

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Re: 86FB/86Z Communications Regarding Flutterwave

We are aware of reports by a platform called 86FB/86Z claiming that Flutterwave has been with holding their funds. Flutterwave is not a bank; we are a payment processor and do not hold customers’ funds including those belonging to customers of 86FB/86Z. All transactions passed through the Flutterwave payment platform are treated and settled in line with regulatory requirements.

What you should know

As a licensed payments service provider, Flutterwave is required to conduct routine review of transactions and KYC (Know-Your-Customer) of its registered merchants. A recent exercise revealed that some merchants were passing transactions on behalf of 86FB/86Z—a business not registered or approved by Flutterwave.

Where transactions are done contrary to the registered nature of a business, we are required to take appropriate actions up to and including termination. For example, if a merchant is registered to sell tomatoes and without approvals, starts selling cars, the merchant is in breach of our terms of service and regulatory requirements.

During our investigation, we identified direct merchants of Flutterwave who were processing transactions for 86FB/86Z without our approval or authorisation to do so on the Flutterwave platform. As a result, we notified the merchants to cease processing and suspended their use of the Flutterwave platform. We also settled all funds due to these merchants. No funds currently due to the merchants are with Flutterwave.

What can you do?

We sympathize with customers of 86FB/86Z, and recommend that they direct all payments related issues to 86FB/86Z for resolution.

If you have any questions, please visit our Help Center or send an email. We’re available to help.

The Flutterwave Team
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86FB/86Z Communications Regarding Flutterwave/WITHDRAWALS

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