Review on Radecshipping
Disclaimer
Our reviews are subjective opinions based on the analysis of our independent writers from around the world. We recommend exercising your own judgment and verifying information independently. We cannot be held liable for decisions made based on our reviews.
Summary
About Radecshipping
The website Radec Shipping (Cyprus) Ltd., operating under the domain radecshipping.eu, presents itself as a logistics/shipping company based in Limassol, Cyprus. According to its “About” pages, the firm claims to be “one of Levant’s leading providers of Transport and associated services” offering sea and air forwarding, door-to-door shipments, full container loads (FCL), less-than-container loads (LCL), cargo insurance, and global coverage. ontact details shown include an address in Limassol (P.O. Box 53245, 3301 Limassol, Cyprus) and telephone/fax numbers.
However, you say the site is being used as an online bank website (which is inconsistent with the shipping/logistics claims), and suspect it is a scam. My review examines available public information and red flags to determine whether it is likely legitimate or fraudulent.
More Details
Business identity & claims
The company indicates itself as a freight forwarding logistics provider: “Our services extend from port-to-port, sea & air forwarding and logistics.” It lists an address and telephone numbers in Limassol, Cyprus. This suggests there is at least a claimed physical presence and a service orientation in shipping rather than banking.
Banking functions & risk of scam
You mention that the website is being used as an online bank website. However:
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I found no documentation on the website about banking services (e.g., deposit taking, savings accounts, payment services) or regulatory licence disclosures, which legitimate banks typically provide.
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The shipping/logistics narrative conflicts with the banking function; this mismatch suggests the website may be either misrepresented or being used by unscrupulous parties to solicit funds under false pretences.
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Without regulatory oversight or transparent licencing, if users deposit funds expecting banking returns, they may not be protected by deposit insurance or regulated oversight — thus high risk of loss.
Mismatch and warning signals
When a site claims to be one thing (shipping/logistics) but is used as another (online bank), that is a fundamental inconsistency. Legitimate businesses typically align the legal entity, the regulatory registration, and the business model. The absence of banking credentials and the mismatch of purpose are strong red flags.
Conclusion on legitimacy
Based on the public evidence, the website appears plausible as a shipping/logistics company (though still some exaggerated claims). However, if the site is being used to solicit online banking services, it lacks the indicated regulatory framework and disclosure one would expect from a legitimate bank. Therefore, from the banking perspective, the site is extremely suspect and likely not legitimate for banking services. In other words: Shipping business: plausible but with caveats. Banking business: almost certainly a scam or misuse of the site.
Recommendation
If you or others are being asked to deposit money, open a bank-type account, submit domestic funds transfers, or provide sensitive personal data expecting banking services via this site — treat it as a high-risk operation. Avoid depositing funds until you can verify:
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The entity’s registration with the Cyprus financial regulator (or relevant jurisdiction) for banking activities.
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Independent reviews / testimonials of the banking service provided.
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Legal documentation confirming banking status (licence number, regulatory disclosures).
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Transparent terms of service, customer protection, refund mechanism.
Given the mismatch and absence of these elements, the prudent stance is to consider this site a scam if it is soliciting banking services.
Warning: Low score, please avoid this website!
According to our review, this website has a higher risk of being a scam website.
It may attempt to steal your funds under the pretense of helping you make money.
Notice: High Score — Not likely to be a scam website.
According to our review, this website has a low risk of being a scam.
There is minimal indication of fraudulent activity.
Notice: Moderate score — Caution advised.
According to our review, this website shows a moderate risk level based on current data.
There is no strong evidence of a scam, but users should proceed carefully.
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Competiting Brands
Photos of Radecshipping
Pros
- The website provides clear contact information (address, phone, fax) for a business entity located in Cyprus.
- There is presence in at least one industry directory (CargoYellowPages) for a forwarding company in Limassol.
- The site’s content is consistent with a freight forwarding/logistics company (services described, etc).
Cons
- If the business is acting as an online bank (one of your claims), there is no obvious evidence of regulatory licensing or banking credentials.
- The business model ambiguity: presenting as both shipping and banking is inconsistent and raises credibility questions.
- Lack of independent reviews or verifiable client testimonials for the claimed banking operations.
- Claims such as “We have experience for more than a century” appear unverified and could be marketing hyperbole.
Website Overview
Country:
Egypt
Operating Since:
2016
Platforms:
Mobile/Desktop
Type:
Shipping/logistic
Spread:
N/A
Funding:
Shipping/logistic
Leverage:
N/A
Commission:
N/A
Instruments:
N/A
Keypoints
I found minimal (if any) independent customer reviews, especially none confirming large banking operations or funds handling under the business entity.
The site uses generic language and offers “global network” and logistics services worldwide; such broad claims may require more substantiation (licensed operations in multiple jurisdictions, regulatory oversight for banking).
No evidence found publicly of banking regulatory registration/licence for the entity offering banking services (if it is indeed providing them) in Cyprus or elsewhere.
If the site is asking for money deposits, online banking transactions, etc, under the guise of “Radec Shipping”, that would be highly suspicious given their stated logistics business.
Overall Score
11%
Final Thoughts
After viewing and analyzing the site thoroughly by our experts and undergoing the proper process, we have reached a final conclusion.
In summary, the website radecshipping.eu appears to be legitimately framed as a shipping / freight forwarding company in Cyprus, albeit with certain marketing exaggerations and limited verifiable independent evidence. However, your claim that the site is being used as an online bank website casts a very serious concern. Because there is no visible regulatory registration, no clear banking license, and the business model is contradictory, it is highly likely that the site is being misused or is engaged in fraudulent activity if you are being asked to deposit or manage funds as a bank.
My conclusion: If you are interacting with this site purely for shipping/logistics services, exercise caution but the risk is moderate. **If you are being solicited for online banking, opening deposit accounts or transferring funds on the basis of a “banking service”, treat it as almost certainly a scam and do not proceed. Better to assume the worst and protect your money.
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