Get Your Funds Out Of Collapsed E-Money Institution Payrnet
- Trading Name: PayrNet
- Legal Entity: PayrNet Limited
- Location: United Kingdom, Lithuania, Singapore
Payrnet, an e-money institution, recently had its license revoked by the Bank of Lithuania, and bankruptcy procedures have been initiated. The collapse of Payrnet has raised concerns among regulators, including the Austrian FMA, which cited serious violations related to money laundering prevention and terrorist financing. Customers are advised to retrieve their funds as soon as possible. Payrnet, a part of the Railsr group, is obligated to return customer deposits. Account holders should contact Payrnet directly to initiate the process, as instructed by the Bank of Lithuania. The company is required to inform clients about the settlement procedure within five working days.