View Single Post
Old 03-16-2007, 10:28 AM  
DamageX
Marketing & Strategy
 
DamageX's Avatar
 
Industry Role:
Join Date: Jun 2001
Location: Former nomad
Posts: 14,293
Quote:
Originally Posted by SmokeyTheBear View Post
not really absconded , more like "borrowed"

Heres the situaion in a nutshell.

I dont know if they are still doing this but it was being done before epassporte split.

When a surfer signed up for a site lets call it "surferporn.com" he also got a cross-sale for "crosssaleporn.com" but it wasnt your traditional "cross-sale" what it was was they would create an epassporte account for you and deposit money from your credit card into the epassporte account then take it back out of the epassporte account for you ( leaving you with some remaining funds in the account ) .

But in all reality the surfer prob never see's anything from epassporte ( as it was buried in the terms and conditions ) so they have no idea they have an epassporte account. all they know is they signed up for a porn site and mony gets taken from their account every month until they cancel.. no harm no foul. but now theres thousand of epassporte accounts that the owners likely dont even know they own, with small change like $5 in each account. so epassporte understand this and wants all that cash of course.. or at least access to it..

And this isnt such a "terrible" practise , other than they have no reason to "safeguard " the funds.


When you deposit money in a "traditional" banking facility, the bank uses your money to lend to others right.. they never have everyones cash inside the vault..

in a nutshell this is what epassporte is doing , but under the guise of "safeguarding" the cash.. i see no reason why they cant just borrow on these funds instead of seizing them.
I'm just curious to see where in their terms this "safeguarding" part is mentioned. I'm sure I missed it and it must be there, so if someone with more understanding of slick legal text can point me to the right paragraph I'd appreciate it.
__________________
Whitehat is for chumps

If you don't do it, somebody else will - true story!
DamageX is offline   Share thread on Digg Share thread on Twitter Share thread on Reddit Share thread on Facebook Reply With Quote