Quote:
Originally Posted by mikesinner
(Post 17463896)
Why the fuck would you idiots keep a bunch of money in a "virtual account" that draws no interest?
Shit, I withdraw my money as soon as I hit $300. You all trying to avoid paying taxes? Only idiots do that.
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Listen Idiot.. When you are doing regular transactions in and out in amounts of $2,000, $5,000, $10,000 and even one nice once this year for $20,000 it is pretty difficult to NOT keep money in your virtual account.. And while my transactions average between $1k to 10k, there are a shitload of people out there that do 5x that with epass on a regular basis. Jesus who cares about $300?? LMFAO! Not to mention that there are many people from outside the USA that really have no other option.
And as far as paying taxes.. umm most of us kinda do have to pay them lol.. with 1099's being sent to the IRS, there is no way around it.
Quote:
Originally Posted by Jaeger
(Post 17463818)
actually to be honest if it is true that some of you guys have lost $200,000, you must be rich enough to afford legal action upon Visa... I mean sure they are massive and all but even so no-one like hearing from lawyers and this shit is fucked up.
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Ummm.. if they have lost $200,000.. wouldn't you think that probably put them in a bad position to do anything?? Just because someone has 200k in there, that does not mean it is "fun money" lol..
Understand, if someone has 200k in their epass account, that money was probably intended to go somewhere. i.e.: paying affiliates, advertisers, employees, etc.. now that that money is tied up, they still need to pay those people.. which means to remain in business they will have to find a way to dig up ANOTHER 200k pay those bills.. Probably would not leave much extra money left-over for lawyers.. (which would probably get nowhere if dealing with Visa or foreign banks outside of US regulation).
Quote:
Originally Posted by beta-tester
(Post 17465105)
I don't understand why some people don't believe this will be resolved.
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Why??? Because of History.. History that is scary enough to make any grown man pee himself.. Were you not in this business during the iBill Fiasco?? (and aside from the iBill deal, to put salt in the wound we lost our Merchant account twice within months after paying those enormous Visa fees, because of Visa porn regs forcing 2 different banks we used out of the adult business.. both of those fees were completely lost.. this happened to us at the same time as the iBill shit was going on).
Because of the iBill shit, it financially devastated me (as well as countless others).. I mean completely devastated me. I mean forget about mortgage, vehicle and utility payments for several months, I am talking about it was to the point where I had to look through the couch to find loose change for bread... seriously, not kidding..
Luckily with this epassporte situation I had emptied my epassporte account over the past couple weeks down to just a couple hundred dollars due to an $8000+ hospital bill that needed to be paid.. And to add to my luck even though several people owe me a few thousand dollars, they had not sent the funds yet. If I had $20k in there because of a couple of payments going in at the same time just before this happened, I would be digging in the couch again... Thank F'in God the timing for me worked out this time and was not a repeat of the iBill situation.
Quote:
Originally Posted by tony299
(Post 17464152)
I dont understand why people who are not selling actual porn hard goods or memberships are not using paypal for b2b transactions. If you are some graphics guy or some affiliate looking to get paid that's not porn. Now I cant sell porn memberships on paypal but doing regular business I dont understand why paypal isnt used. Dont leave mountains of money in it like anything else like that. I leave $5 in my account so if it goes away its oh well.
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#1 Because many people from outside the USA have no other option, therefore if we did not use epassporte we would lose out on that revenue. #2 When doing transactions in amounts of $5,000 or $10,000 paypal charges several hundreds of dollars in fees, whereas epassporte charges pennies.
Quote:
Originally Posted by JA$ON
(Post 17464516)
lots of BIG sponsors loaded up $xxx,xxx to make the payouts for the end of the period. Get ready for a whole lot of "we cant pay you because of epassporte" threads
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This could be a huge concern...
Quote:
Originally Posted by Fatbat
(Post 17464396)
Given that a good number of people here are bemoaning the previous track record of other payment service providers and claiming epassorte is "done", "going bankrupt", and that "you'll never see your money again" why would you put yourself in such a risky situation if you think that way? Why put all your eggs in one virtual money basket?
......
You need to look after yourselves better.
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Because for some people, like myself, money goes in and out in large amounts so fast on a daily basis that the wallet is completely useless to us.
Like I said, I lucked out this time.. I couldn't be happier to have a couple hundred in my epass virtual account.. and losing that is not at all anything I would cry about.
What I will cry about is what if this does not get resolved because Epass was (is?) the best option for our business model to send and receive large transactions on a regular basis with little or no fees.. Losing epass as an option will put a serious dent in my livelihood..
If it is related to the new Regulations regarding pre-paid credit cards I do not see much light at the end of the tunnel :( And from my experiences with Visa, they are simply assholes.. I would guess this might take weeks (or months) to resolve, if there even is a resolution at all... :(
However, if it is an issue regarding pre-paid cards, what differentiates epassporte from Paypal?? Is it because epassporte is considered a credit card and Paypal is considered a debit card?
And someone in this thread mentioned that if it did get resolved, that Epass would be damaged by everyone pulling their money out at once as soon as they are able, to which someone else promptly replied that actually it would be an injection of revenue for them as they get paid for withdrawls. While this is true, in the long term (if they do survive this), this issue will probably hurt them.
The one nightmare I hope never happens is if CCBill shit the bed... Now that would be an industry-wide game changer.
And I gotta add.. I've read all 20+ pages.. and I can't believe how many goofballs ask the same exact 2-3 questions over and over that were already asked and answered time and time again.. lmao..
