Some people are asking: “Is it true that SWA Ultimate is now under the custody of the NBI?”
Here’s my answer…
We haven’t heard of any such reports (as of the time of this writing).
We searched Google and Twitter, but did not find any news reports related to SWA and the NBI.
We also haven’t heard any complaints against SWA warranting any apprehension by the NBI. By the way, please note that we are not lawyers, so if you’re looking for legal advice please consult with your professional legal adviser.
Why are some people spreading news that SWA is now under the NBI?
We don’t know. If ever we get more info, we’ll let you know.
We are, however, monitoring how long it takes SWA Corporation or the group of Franco Renato Almonte Chaves (Francis A. Chaves) to activate the SWA Accounts of registered SWA members.
So far, it’s within 2 to 4 banking days from the day of registration online.
And this assumes that the correct info related to remittances/payments/deposits was entered during the online registration process.
For SWA Payouts, we’ve seen that Francis Chaves and company fulfill those payout requests within 10 banking days.