Online survey group Speak Asia Online which has run into controversy due to some of its claims said that Singapore-based United Overseas Bank has not frozen its account but the company is shifting its account to another bank.
“Our bank account in Singapore has not been frozen.We are only moving our company account to another bank,” SAOL’s Chief Executive Officer, Manoj Kumar said in a statement issued here.
The company was approaching and evaluating various other banks in Singapore from where it will soon be able to disburse the payments to all the panelists, he said.
They said that “We would like to reassure that the panelists’ money is safe. We are trying to open an escrow account in order to further protect their interests.
The company has not received any notice, letter or questionnaire from any government agency/authority.
The company has more than USD 16 million available for use and disbursal will start as soon as a new bank account is opened, he said.
“Also, a sum of Rs 102 crore is lying in the bank accounts of HVP’s collection agents in India . These accounts are under temporary strictures by the banks and will soon be operative. We have begun preparing for disbursal of these funds to our panelists once the strictures put by some banks on transfer and payment are withdrawn.