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Originally posted by Rand
Here are some answers for you Jact.
The new site looks really good I think. A great improvement in look and funtionality! https://www.epassporte.com
The difference between a corporate and commercial account are easily explained. The difference is subtle but significant.
Both accounts share the following:
1) They are funded by wire transfer.
2) They can issue Virtual and Electron Visa accounts to anyone they choose to pay.
3) API's are available for creation of accounts, upgrading to Electron status, and disbursing payments to various affilaite accounts.
A commercial account holder model would be a Sponsor program which pays it's affiliates with EP. The sponsor would use their account to create Virtual account for their affiliates and use those account to move money to them. The affiliate has control of their account in all other aspects and can reload their accounts with a credit card, and make and receive P2P transactions.
A corporate account example might be a corporation who wants to provide account to employees but still be able to control what happens to the funds and be able to monitor spending. In other words, the commercial account can look into all affiliate accounts and see their balances, move balances back to the master account, block an account, monitor spending, etc.....
It's really a matter of the level of control you have over affiliate accounts.
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Okay, good explaination. The flowcharts and whatnot on the old site really confused me.
Okay so I'm assuming I need a commercial account. Am I required to wire a opening balance? Am I required to maintain a balance of any kind? Can I open one without calling sales yet?