Quote:
Originally Posted by will76
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.
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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...