ePassporte Official Statment

1200 ePass Official Statements.

DEA made a statement that with the "large programs" going out of business Epassporte was sure to take a hit and go out as well..

I am not sure what LARGE PROGRAMS he was talking about because my sig has some of the largest and they are all still here...

Tell me how many of these programs died:
http://whopaidme.com/onlysponsor/count/100

Then tell me how much of the market share of signups through affiliates they had collectively.

I am going to figure around 2% and I think I am being way generous.

Since many of you enjoy conspiracy theories I will give you one.

SOBV tipped off VISA that ePassporte might not be following the rules in order to get us all to stop making them the entire first page of GFY...

Then again... Occam's Razor states that entities must not be multiplied beyond necessity... So I think I will just stick with what I have already said in the past and Michael O has already clarified for you.

bump...

There were 5 threads ahead of this. That is not acceptable.

The question has been asked and answered multiple times throughout this thread. One does not need to read 23 pages to see the answer. The only reason this thread is 25 pages long [so far] is because people keep asking tghe same question over and over again. I am pretty sure MO has a cut and paste response by now.

I would.

What the hell was VISA thinking? They cut of tens of thousands of people's paychecks because they found someone siphoning off their Craiglist spam profits into a secret credit card account?

It's downright predatory and shows they don't care a rat's ass about people's finances or livelihoods.

It's the 21st Century not the middle ages.

I've said it before and I'll say it again

eCOMMERCE MY ASS

This thread grew fast as hell.. Anyway, I honestly believe that things will get back to normal. If this was some sort of attempt to "steal" all of our $ epass would have made it so we can't even log into our accounts. I know that this seems bad, but don't worry about it too much. Everything will go back to normal and we will have access to all of our $ again.

Do you actually think that they truly give a shit about the "little people"?

I dissected my card and could find NO money!

I'll be paying $10,000,000 a year from CG profits to

PAY PEOPLE $500 TO UPLOAD A VIDEO OF CUTTING UP THEIR VISA CARD

This was more than likely due to the new regulations involving prepaid debit cards. I have a feeling that when things are resolved, the use of the card will be less convienient with limitations as to how much money can be on there are any time, tighter withdrawl limits etc.

Big business doesn't give a shit about people. It's only concern is money and it will do whatever it can to destroy people, land, environment, other businesses and more to make their profits for wallstreet and the CEOs.

Man, I hope this is the case and we are all just overreacting... Losing epass as a way of receiving funds and paying people would be a huge loss.. but this sounds like there could be a glimmer of light.. (or just some smoke being blown, but I hope for the former not the latter).If that's what all of the other webmasters are using, then yes, of course I'd continue to use them (albeit a little more cautious than before). I'm not going to shut the door on a lucrative revenue source.Thanks man..

Just got an ICQ from one of my clients.. he's got 12k tied up in epassporte... So while I may have lucked out as far as my balance, the issue I and others now have to deal with is how to get paid (and also how to pay others).
Here's another... a religious organization was so offended by "Middle Men" that they used their influence on the "Powers that be" to shut him down.. lol

Sure he has, Epassporte isn't a bank, it's not somewhere you store large amounts of money and gain ZERO interest on.. Nobody is that dumb.

If you need money I will buy camgirls.com from you for $100

Visa wouldn't just suspend Epassporte's banking partners visa program without some kind of prior notice or warning. There's some seriously shady shit going on behind the scenes that Epassporte has not divulged yet.

Nah.. I am pretty certain he probably had that much in there.. he's been a good customer for years and that $ was most likely intended to pay his expenses.

People keep talking about Zero Interest... like the money would make anything worthwhile in a friggin savings account or money market account... the $ is better off spent being re-invested. How many people have 5-10k in there checking accounts that do not pay interest? It's really no different than that.

http://news.slashdot.org/story/10/09...orn-Webmasters

Thanks Will, will think it over, I'll give you 10% of profits for life for $10K ? You'll be living next door to Frank Schilling in the Cayman Islands if you're smart.

Streamate is holding payments and recommend setting up wire.

Tragedy averted, I just have to sweet talk the apartment manager for a few days grace
and I'm off to the shop to buy a loaf of bread!

.

Wouldn't that be illegal? First of all banks do lend out money, but there should always be enough to cover people who keep their money at the bank if everyone wanted to withdraw their money out of their accounts. In this case epassporte is not a bank, just a processor, so if someone sends you money (via them) they shouldn't be allowed to take your money and spend it, all off the funds should always be there available for you to send to someone else or to withdraw it. It's just a pass through not a bank. The only thing they should be able to get is the fees to do the pass through. The money should always be there.

Seems logical to me too, the money can't be on the card (physically). The card is just the method to TRANSFER the money. The card is visa's network that the money passes through. From you to a visa merchant or you to the atm, then to cash. If the VISA CARD is frozen then wouldn't the money still be in the bank. If the money is in the bank, then why can't it be moved to the wallet ? The card to wallet transfer is just electronic code, moving numbers from one account to another. Doesn't seem like visa can stop them from saying " Account 1 has $5,000 on the Visa card, since we can't use cards anymore we will put that "$5,000" on his wallet so he can still get it back via wire or do wallet to wallet transactions with out people. So the customer can't do atm or use it via visa card but I don't think anyone cares too much about that right now.

Correct me if I am wrong?

Either the bank froze all the money or Epassporte can do what I mentioned above? How could it be any other way??? someone educate me, i m not very knowledgeable with processing.


Ok I read that the money is already on the card... if it is on the card as in prepaid then why would the cards ever be suspended? the card holders did nothing wrong/ Why not just suspend the cards relationship with St Kitts or epassporte. If $1,000 is on the card then the card should able to be used until the $1000 is gone then throw them away.

Doesn't seem like all of the info is here. I guess time will tell.

No , they just have to worry about being fired every day.

Hey BD, you gonna take this shit from this young whippersnapper?

BUMP


This post will stay at the top

The "solution" is to give people their money PERIOD. Is Epass still writing you a paycheck Mike? yes? Well then they have money.

Disagree, epass is more like a bank than a processor. The former has a balance and you can deposit, withdraw and transfer (just like epass ), the latter processes transactions and sends you a regular payment.

A couple of years ago there were rumbles about the guy who runs stormpay seemingly living beyond his means. You'd probably be able to skim 10 or 20% off and no one would ever know, UNTIL there was a serious problem like a run on the bank...

just wait coz we can't do a thing about it

Well after 4 hours of reading.. things look a bit more promising for next week.

Until then many (incl me) have to switch sponsors to payment by check to stay in shape for the next payout.

As Will said, (somewhere in these pages) "if you can use checks, keep using them"

Prob good advice. Just have to go back to emailing about lost checks but oh well.

BTW, one of the payments coming thru yesterday 9-2 and kerplump right into Visa Virtual was my $40 from Perfect Gonzo. Their min is $100. But they made good on all requests. So a good word to them here.

Sometimes the right thing is done and I think this will work out well. That is my gut feeling.

some interesting comments there

There really are. I was going to c and p a couple even.
But didnt want to violate any terms here.

I forgot I was talking to a chick.

You can call them a bank but the really aren't imo. They are a pass through that allows you to not have to take it all 100% out. You can keep some "in" incase you want to send it to someone else without having to fund it yourself each time you go to send. Really wouldn't consider them a bank, but its however each person looks at it.

Try telling the people that have hundreds or thousands locked up in epass (and they're not a program paying out affiliates) that epass is a pass through system only

I remember one guy on ADX had tens of thousands in his epass a couple of years ago as a standing balance, didn't seem to be too bothered by the fact that it was an offshore third party... hope he got out

The merchant will be able to process charges if it were authorized already.

6% .. your assumption is way off, mainly on a no commitment deposit ( not a term deposit ) ... If they get 1% - 1.5% , they are doing pretty good ...
So yes , theydo not much of interest a day .


What surprises me is that alot of people talk about visa shutting off, visa compliance, visa that .. but no one mentions the possibilty that Visa levied hefty fines against Epass or the bank , and that the funds are colateral to these fines.. That would not be a first right ...

If the funds have already been withdrawn from your account then the wire is on the way to you. When the funds are withdrawn from you account we send the wire.
If the funds have not been withdrawn please email me your UserID and I will look into it.

Thanks

This thread's too fucking long.. I'm not reading all this shit.

one things for sure...

if epass does fold, you all are going to have to find a new way to evade your taxes.

This is the interview today with ePassporte’s business account manager (from post 1081) worth reposting:

By Tom Hymes
Sep 3rd, 2010

SANTA MONICA, Calif.—In response to a call from AVN seeking further clarification on the sudden suspension by Visa of the ability by ePassport’s West Indies-based bank—St. Kitts-Nevis-Anguilla National Bank Ltd.—to process Visa transactions, ePassporte’s business account manager called to comment on the situation.

“The problem,” he said, “is not our bank. Our bank is perfectly fine. Everybody’s money is safe. The issue is literally with Visa. Visa functionality is the only thing that’s down, which means eCards and vCards. We are working to resolve the issue and we will have a resolution by next week, but at this point in time we don’t have any more information and we will contact everyone as soon as we do have any update at all.”

When asked about the increasing concern among some ePassporte clients that their money might remain inaccessible for some time to come, leading them to seek alternative means of delivery, he said, “I think the most important thing right now is for people to be patient until we have a solution. I wouldn’t move any [funds] at this point, because by the time you would receive a wire we’ll either have Visa functionality back up or we will have found another solution.

“The problem,” he added, “is that yesterday we were given about an hour’s notice of the situation, so there really wasn’t enough time for us to prepare any sort of documented statements other than the message that came from our CEO and owner, Christopher Mallick.

“There’s nothing to worry about," he stressed. "It’s an issue with Visa, not with our bank. All of our functions outside of Visa are working perfectly. If people’s funds are in their wallets, they can feel free to contact customer service and do a wire disbursement, but if they can wait, that would be my recommendation. I wouldn’t make any hasty decisions. But we’re not going anywhere; there’s nothing wrong with the business. This was an unforeseen issue, and we’re not exactly sure where it came from on Visa’s side.”

Before hanging up, he once again expressed his hope that calm would prevail over the long holiday weekend, after which the company expects that the situation will be quickly resolved.

“There really is nothing to be panicked about,” he said. “We just have to be patient and see what the solution is. All I can say is that if we had been given more notice, we obviously would have been better prepared and would have contacted all of our clients beforehand.”

In the meantime we have learned that several affiliate programs have sent letters to their affiliates notifying them that they are temporarily suspending the use of ePassporte until the Visa issues are resolved, and recommending that people log in to their accounts and change their payment options to either checks or wire transfers.

this is horrible news.

Well, that makes it sound like it'll only be a few days.. I hope so.

Someone over extended credit

Indeed that sounds very positive. Doesnt sound like bs. The guy says (in essence) about 3 times that things will be back one way or another to regular operation within a week or so.

He sounds like a tech and not a bs artist to me.

when is going to end???

Well, it's their bad how they used it It should have never been any thing more than a pass through. I do realize some people loaded it up recently to make payments etc... I guess just bad timing in those cases or people who just received payments but didn't get a chance to move the money.

keeping money in the hands of a third party off shore depending on a bank in the Caribbean + Visa is crazy. The epass service of moving money around was great, just the people who used it like a bank and kept it there were nuts.

Your logic is good, but banks defy logic - in one of the banks here I have normal (savings I guess) account and a VISA card account. I cannot transfer money from my VISA account to my savings account - I have to go to the ATM and withdraw money with the VISA card or go to the bank and withdraw money from the VISA account and then give them the cash to deposit it to the savings account.

I cannot simply ask them to move say 500 bucks from the VISA account to the savings account .... so all in all Epass and its bank should have a way to move the funds from Visa to wallet, but this would probably take them quite a few days + paper work etc. and that's only if everything is good with the bank and b/n the bank and Epass.

just got an email saying my hosting payment has failed (its set up to my epassporte visa)

Wonder how many people's hosting payments will fail? A LOT

Michael O, how to transfer money from personal account to business account?