FAQ

What is the Bank4You Group project structure?
Bank4you Group’s team is international; our team of representatives and advisers are all over the globe. We are a registered company in England & Wales and headquartered in London, UK.
What is the difference between Bank4You Group and other mobile money remittance companies?
Established in 2013 and headquartered in London, UK, Bank4YOU is a fintech service providing easy and speedy mobile banking services across the world. Bank4YOU is not an idea or a start-up but a real working business model.
What is the main objective of Bank4You financial services activity?
Based on the preferences of our customers, Bank4You develops convenient financial instruments for performing money transactions. The company works towards implementing a new generation of financial services in the everyday lives of people.
What is the main competitive advantage of Bank4You app?
The company pride on the app’s main feature which is the cross-border mobile money transaction system. There are also no restriction on the customer’s residency status with regards to performing financial operations. The app provides digital money turnovers eliminating intermediaries and bypassing high-street banks.
What can I start from?
Download our intuitive easy-to-use app both in App Store and Google Play.
What is the aim of Bank4You Group’s ICO?
To develop mobile money service and an ecosystem of electronic transfers based on products of mobile network operators, such as mobile airtime and mobile money. The company aims to ease international money turnover and to provide customers with an opportunity to withdraw money in any local currency.
How will the funds raised during Bank4You Group’s ICO be exploited?
Bank4You Group plans to sign contracts and open guarantee accounts with mobile network operators, both local and global. The main idea here is to redeem time, and receive discounts placing deposits (avg. $200,000-$500,000) on accounts of mobile network operators. This will reduce fees for transactions for Bank4You Group’s customers.
What is ICO?
ICO or initial coin offering (primary coins placement) is a mechanism to raise funds for a cryptocurrency venture. Bitcoins or Ethers are exchanged for tokens of the ICO. It is also a model of crowdfunding 3.0, which helps participants to finance the development of the company in order to benefit from such investments in future.
What is blockchain?
Blockchain is an open, distributed ledger that can record timestamped and referenced transactions (chains of units) between two parties efficiently in a verifiable and permanent way. A peer-to-peer network collectively adhered to a protocol for validating new blocks usually manages Blockchain.
What is ‘smart contract’?
There is no universally accepted definition of a smart contract. Generally, smart contracts are computer protocols that implement terms of a negotiated contract in a self-executing manner.
What are cryptocurrencies?
Crypto currencies are monetary units (also called ‘coins’ or ‘tokens’) protected by cryptographic technologies. They have no physical analogue and exist only in virtual space. Tokens cannot be counterfeited and cannot be duplicated (a prefix ‘crypto’ defines the fact of encryption).
How can I join Bank4YOU Group’s ICO?
Log onto Bank4You.io ICO site, follow the link and click ‘CONTRIBUTE’ button then follow the instructions.
How many BFY tokens are to be sold during the Bank4You ICO campaign?
80% of the whole sum will be sold - 240,000,000 BFY tokens.
What type of wallet should I use for buying a BFY coin?
BFY coin is ERC20 token, issued on Etherium blockchain. Token holders can easily store and manage their BFY tokens. Main Etherium wallets include official Etherium wallet, Mist, MyEtherWallet.com.
Can I join the ICO even though I do not have an Etherium address?
No, you cannot. BFY tokens will be based on Etherium blockchain. You will therefore need an Etherium wallet address in order to receive and store BFY tokens. You can use next wallets: Ethereum wallet, Mist, MyEtherWallet.com for instance where you can enter your private keys. Do not send Etherium for the ICO from cryptocurrency exchanges. You do not have access to your private keys and therefore would not be able to access the BFY token.
Can residents of US, China, South Korea, Singapore join the Bank4YOU Group’s ICO?
No, they cannot. According to the US legislation, neither a citizen nor a permanent resident of US, Puerto Rico, Virgin Islands and other territories under the US jurisdiction are not able to join Bank4YOU Group’s ICO. Both China and South Korea forbid their residents to take part in ICO campaigns. Also, our understanding is that the sale of BFY tokens in Singapore would require obtaining a prior authorization from Singapore financial regulator.
Can I be sure that I will get my BFY token after sending digital money during the ICO campaign?
BFY coins are sent automatically through Etherium smart-contract.
What’s the main goal of the ICO campaign?
Our ICO is divided into three stages. We aim to crowdfund maximum $50 mln. This is the hard cap of the ICO project.
How will the ICO be distributed across the MMRS project?
The ICO means will be distributed as per the development of the project. Bank4You plans to spend crowdfunded means on elaboration of its system of mobile money, development of new software, incorporation of microcrediting system, and new financial services based on Blockchain. The ICO means will be preliminary distributed as follows: • 65% towards development of digital infrastructure of mobile network operator’s consortium, which will provide functioning of the MMRS system. • 8% for IT development • 15% Marketing and Promotion • 9% For the Development of a Loan Product Distribution Suite • 3% for Team members
What is BFY token and why do we need them?
BFY tokens are not shares, goods or investments. BFY token is a crypto currency, which can be bought during the ICO campaign. The BFY token can be purchased on other exchange rates including cryptocurrency exchanges.
Where can I buy the BFY token?
There are only two ways to buy BFY token: during the ICO (bounty campaign included) or on the cryptocurrency exchanges.
How can I sell the BFY token?
Like any crypto currency you can sell BFY token on the crypto currency exchanges or markets.
Do I need to register somewhere?
You can register at Bank4you.io
I have not received a confirmation letter on my e-mail. What should I do?
If you have not received Bank4You’s message confirming your email address, please check your spam or junk mail folder. You may also try adding info@bank4you.io to your address book to see if you can find the confirmation email.
Bank4You is not a regulated broker or listed on a stock exchange so how can Bank4You issuing a security?
Currently there is no requirement of the English financial services regulator (Financial Conduct Authority) to obtain prior authorization for the purposes of token issue, therefore our company does not have to be authorized to issue tokens.
Do you have partnerships?
We have entered into the agreements with numerous mobile operators, including: Azerfon, Bakcell, Jazz Cash(VEON), Tranglo. And at the signing stage: TransferTo, Sochitel.
Do you have any actual product?
The Bank4YOU Group’s own, unique card solutions are packed with a range of state of the art mobile banking services. In addition, easy-to-use mobile Bank4You app at no charge, created by a team of highly-skilled and vastly experienced fin-tech specialists can be downloaded at App Store and Play Market. Information about prducts is presented on the project`s site section called "Bank4YOU`s original products".
How did you come up with this evaluation that the ico is worth 50 millions?
50 million is not the cost of ICO. Such a volume of funds is needed for funding. The distribution is as follows: Deposit to mobile operators for operations: 30 million, Funds for lending: 2.5 million, Funds for the purchase of smartphones: 5 million, Marketing: 7 million 750 thousand, IT development: 1.5 million, Funds for the development of the group: 3 million 250 thousand.
What is the special package for token buyers? For example 5000 & 15000 token buyers?
We propose 2 packages for partners, who purchase 5000 BFY and 15000 BFY. Additionally to the tokens they will be presented with B4U card and B4U premium card respectively to their package. They will get the chance to test B4U products in practice