Quote:
Originally Posted by Kenny B!
Then I would like to visit your Montreal office and meet the employee?s and owners. We have to be as diligent as possible with whom we trust our money with and even then webmasters get burned all the time.
I went by the address you have stated on your contact us page and it?s a post office box at a UPS store, that won?t give anyone any confidence.
I am not trying to hurt your business; I want to be able to do some of the due diligence that others aren?t able to do because they aren?t in the same city.
Feel free to contact me, you seems to have a great solution and I?m sure many people here would use your services if they knew more about the company and the people behind it.
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Questions for a new webmaster direct payment method I would ask:
1) What bank is issuing the card product
2) What is the method for funds storage at the card product level or a general ledger account (i.e. is each card a "registered" account for the cardholder or a number only account attached to a general ledger or wash account)?
3) Does the company's and the bank KYC procedure comply with banking regulations and is there a positive statement to that effect in the terms and conditions as well as the cardholder advisements?
4) Although we understand that the bank's and the company's joint AML efforts must remain proprietary, are there clearly defined velocity limits (amount of transfer, frequency of transfer et al) defined in the terms and conditions?
5) Does the bank issuing the product have the appropriate measures in place to support SAR (Suspicious Activity Reporting) for transactions as required by banking regulations
6) If the cards have a direct account attached to them, are those funds guaranteed by the FDIC or the issuing bank's country's regulatory authority?
7) Is the bank aware of the nature of the clients utilizing P2P (i.e. adult)
8) Is the company issuing the product and managing the wallets independently audited and are those audits made public
There are more, just some I came up with off the top of my head.