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Old 09-03-2010, 12:32 PM   #1001
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Old 09-03-2010, 12:34 PM   #1002
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Quote:
Originally Posted by V_RocKs View Post
Epassporte doesn't make a ton of money on deposits (the percentage they get paid when you leave cash in there). Let's assume they have $10,000,000 at any given time and make 6% on that money. That is only $1,643 in a day.

Now lets assume that 150,000 users average just one user-to-user transfer a day at 25 cents profit. $37,500 a day.

Now lets assume that wiring in money and making business to personal transfers for payouts
makes them just .80 cents per transaction. I do believe


they make much more on these. We will use the Tues-
Wed rush as an example because that seems to be
when 85% of my epassporte transactions occur. We can also pretend it is 250 sponsors with 500 payments each.

That is $100,000... And I know those numbers are very conservative. VERY conservative compared to the amount actually transacted.

So you can see that Epassporte makes way more money on fees than it does on actually gaining interest on your deposited money. They would PREFER you spend it, withdrawal it and create fees as that is where the real money is.
I think your 6 percent figure is off
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Old 09-03-2010, 12:40 PM   #1003
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according to these post only epassporte and not the St-kitts bank lost their Visa deal

http://www.italkcash.com/forum/e-cur...l-users-2.html
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Old 09-03-2010, 12:40 PM   #1004
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Higher or lower?

Even if you doubled it, you are still only sitting at 3,286.... still a pittance compared to the transaction fees.
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Old 09-03-2010, 12:43 PM   #1005
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10,000,000 x .06 (6%) = 600,000 a day...

way to go in math : /
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Old 09-03-2010, 12:46 PM   #1006
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Originally Posted by firegod420 View Post
10,000,000 x .06 (6%) = 600,000 a day...

way to go in math : /
I believe that would be $600,000 a year / 365 days = $1644 / day
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Old 09-03-2010, 12:46 PM   #1007
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Yes from what I was told the bank is now been shutdown
http://www.thestkittsnevisobserver.c...tley-debt.html

Incredible! Is this a state bankruptcy? It is a long article, but here is a snippet..

Quote:
Main Opposition Party on St. Kitts, People?s Action Movement (PAM), has questioned the financial status of the National Bank, saying failure to produce the audited accounts for 2009 could be an indication that something is amiss.

?Is our National Bank in trouble? The national economy is experiencing significant difficulty and the last thing anyone would like to contemplate is trouble in our largest indigenous bank. It is reported by sources close to the bank that the Annual General Meeting has been postponed without a date set because the auditors have refused to sign off on the accounts that should be made available to shareholders at the AGM. Information is scarce about the precise objections being raised by the auditors, and this lack of information is fueling ever wilder rumors,? a PAM press statement claims.
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Old 09-03-2010, 12:46 PM   #1008
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lmfao firegod... it's not 6% a day

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Old 09-03-2010, 12:48 PM   #1009
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according to these post only epassporte and not the St-kitts bank lost their Visa deal

http://www.italkcash.com/forum/e-cur...l-users-2.html
Go back a page and re-read my previous posts. No shit.

Here is a quote from Epassporte:

Quote:
Please be advised that, at 12:00 PM PDT today, September 2, 2010, we were notified that effective immediately, Visa International has suspended our banking partner's (St. Kitts Nevis Anguilla National Bank) ePassporte Visa program. The ePassporte e-Wallet program continues to be up and running, except funds cannot be transferred between your Visa Account and your e-Wallet
In the quote Chris states that the ePassporte Visa program with their banking partner St. Kitts Nevis Anguilla National Bank is suspended. In no way did he say that the bank itself could not transact Visa transactions as a whole. It is pretty clearly stated that just that one account is suspended and the Wallet account is not.

From this one can assume that the problem is between ePassporte and Visa. Something Michael already alluded to. So what is the big deal? Without the Visa network YOU cannot withdrawal that cash. Visa cannot LOCK the account as they have no authority to do so. The money is still in there. Chris is trying to fix the Visa issue so things can go back to normal. If he cannot I assume he will transfer the money to the wallet account and allow you to receive it that way. He runs a company with employees. He can't make a rash decision and therefor this might take more than a day to resolve. Just like Chase or Wells or BOFA wouldn't make a rash decision.

ItalkCash is not a news organization. It is a drama lama...
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Old 09-03-2010, 12:49 PM   #1010
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Is it just me or does anyone think it's odd / wierd that they just recently lowered withdrawl limits??
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Old 09-03-2010, 12:49 PM   #1011
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Another thought on this...it's a 3 day weekend in the United States, not all over the world. I'm not sure if Visa International takes Labor Day off or not. For problems this big, I'm sure that they have a team that will work on this thru the weekend.
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Old 09-03-2010, 12:49 PM   #1012
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10,000,000 x .06 (6%) = 600,000 a day...

way to go in math : /
Lay off the 420, sir. You must have failed economics.
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Old 09-03-2010, 12:50 PM   #1013
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Good posts V_Rocks.
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Old 09-03-2010, 12:50 PM   #1014
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Originally Posted by V_RocKs View Post
It was meant as an example... They are similar in that your money is being held in a bank somewhere. It isn't held in Chris' personal wallet. It is in a bank. He doesn't have unlimited access to your money. Madoff didn't run a business that made money. Chris does. He is more worried about keeping the business going because that is how he makes money and that requires your trust. Madoff didn't give a shit about your trust.
I admire your optimism, Madoff was a very respected broker on wall street, for many years he actually did run a very successful and profitable business, as did Ibill and many other companies that went under... In situations like this it's best to prepare for the worst, but hope for the best... I hope they make it through, but I wouldn't count on it...
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Old 09-03-2010, 12:50 PM   #1015
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Originally Posted by Niktamer View Post
according to these post only epassporte and not the St-kitts bank lost their Visa deal

http://www.italkcash.com/forum/e-cur...l-users-2.html
if you think about this post:
http://www.italkcash.com/forum/e-cur...tml#post331061

the user that posted it, also made posts with the same username on the other forums and his join date on all forums is Sep 2010.

epassporte can't have a deal with visa, since visa is working only with banks. this problem could be caused DUE TO epassporte, but the bank is the one in question. i tried to get the bank on the phone, but most of the times their phone line was either busy or unavailable.

check out my previous posts here in order to find the probable reasons of the visa deal cancelation...
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Old 09-03-2010, 12:51 PM   #1016
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Originally Posted by Zyber View Post
http://www.thestkittsnevisobserver.c...tley-debt.html

Incredible! Is this a state bankruptcy? It is a long article, but here is a snippet..


CRAP news... Time to 420
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Old 09-03-2010, 01:01 PM   #1017
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lmfao firegod... it's not 6% a day

yea misread his post..
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Old 09-03-2010, 01:03 PM   #1018
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Anyone have funds in wallet and try to transfer it to your personal debit card (not epass visa electron card) and withdrew the money?

I wonder if this work. I have funds in wallet only.
Nope - they lied about that shit too.. just tried it

We were unable to issue a withdrawal at this time. Please try again later.
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Old 09-03-2010, 01:04 PM   #1019
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The money in Visa Electron Card it's lost ???

But the money in Visa Electron Card it's lost ???
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Old 09-03-2010, 01:04 PM   #1020
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Originally Posted by Michael O View Post
You can change the setting inside your account if you log in and click Wallet Settings.
Michael, my account was always set to deposit all loads and transfers to my wallet but for some reason all my funds are currently under the Visa Virtual Card.

I know you must be busy as hell, but I just sent you an e-mail, can you check it?

Thanks
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Old 09-03-2010, 01:05 PM   #1021
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I would have to say "Not very likely". Bank robberies hardly ever yield a large loss.

Tellers are trained not to keep any more than $2,000 in their cash drawer.

Vaults are on time locks and rarely contain more capital than the branch requires to operate for the day.

If a customer wants to make a large withdrawal, they usually need to arrange that 2 days in advance.

So, probably no large loss from an in and out bank heist.
With these fucking idiots.. they probably gave them the keys to the place and said come back anytime.
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Old 09-03-2010, 01:06 PM   #1022
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Nope - they lied about that shit too.. just tried it

We were unable to issue a withdrawal at this time. Please try again later.
It let me do it about 2 hours ago.

e2a: $300 daily limit sucks though
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Old 09-03-2010, 01:06 PM   #1023
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Sorry, I just got here... is it Obama's fault yet?
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Old 09-03-2010, 01:08 PM   #1024
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Lets wait a few days and see how it goes.
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Old 09-03-2010, 01:11 PM   #1025
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Ok finally some reasonable specualtion..
Lets speculate further. Will the frozen $$ be released and follow us to this new bank? Or is it probably just gone.

Thats the million dollar question.
Yep that is the big question... Will Epass Take Care Of US????

Visa should be the processing agent. And epass should have all funds on deposit in their accounts at their bank.
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Old 09-03-2010, 01:13 PM   #1026
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I guess epassport guys will sort this out very fast. waiting for good news
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Old 09-03-2010, 01:14 PM   #1027
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I guess epassport guys will sort this out very fast. waiting for good news
Anytime your face, appears in a thread, it's indeed curtains. Lights out.....
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Old 09-03-2010, 01:15 PM   #1028
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I guess epassport guys will sort this out very fast. waiting for good news
i love your optimism! Yea, let's hope epass won't turn rehab$/SOBV if you know what I mean.
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Old 09-03-2010, 01:16 PM   #1029
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Sorry, I just got here... is it Obama's fault yet?
It very well could be because of new credit card regulations that Visa had to pull the plug on Epass.
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Old 09-03-2010, 01:19 PM   #1030
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Michael O ´s ICQ might be busy today?
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Old 09-03-2010, 01:21 PM   #1031
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Why don't we get any updates? There must be some new info for us now.
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Old 09-03-2010, 01:23 PM   #1032
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LOL @ the people saying "let's wait a few days". If this is a Visa issue and it doesn't get resolved today (which it doesn't appear it will), then those "few days" are all a US holiday weekend during which Visa will be closed. More like let's wait a week at least, and probably more like let's wait a few months since by all indications this is not some minor mistake or error - this is intentional action by either Visa or the bank which means months and months IF it can be resolved.
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Old 09-03-2010, 01:23 PM   #1033
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why i can not transfer my money from my ePassporte Visa Virtual Account to Wallet?

Visa suspended service for epassporte only?! They don't keep any money.
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Old 09-03-2010, 01:23 PM   #1034
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Old 09-03-2010, 01:26 PM   #1035
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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.
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.
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Originally Posted by Jaeger View Post
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.
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).
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Originally Posted by beta-tester View Post
I don't understand why some people don't believe this will be resolved.
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.

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Originally Posted by tony299 View Post
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.
#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 View Post
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
This could be a huge concern...

Quote:
Originally Posted by Fatbat View Post
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.
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..

Last edited by Naughty-Pages; 09-03-2010 at 01:34 PM..
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Old 09-03-2010, 01:26 PM   #1036
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Hello Michael,

We arranged a wire transfer in epassporte, print, signed and send it by email.
When will you send it ?

Thanks for your time and help.

Last edited by Serious-Partner; 09-03-2010 at 01:38 PM..
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Old 09-03-2010, 01:27 PM   #1037
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some of you here are funny.. what makes you think this will be resolved in one day??

It wasnt like visa made a mistake and shut them down.. NO.. they were shut down for a big reason, big enough to have dozens of millions $$ frozen...

If, and a BIG IF, they were to resolve this, it would take months... this isnt something they can resolve with a phone call...
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Old 09-03-2010, 01:33 PM   #1038
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guys, lets wait a few months before all the speculation please
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Old 09-03-2010, 01:34 PM   #1039
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I really need my money back...
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Old 09-03-2010, 01:34 PM   #1040
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Old 09-03-2010, 01:35 PM   #1041
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Just got off the phone with a VISA rep, they told me that it was a preemptive measure because of the Financial Identity Reform Act that Obama will be signing in two weeks... haven't you been watching the news?
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Old 09-03-2010, 01:35 PM   #1042
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You kidding? This is his job to be in this thread. Not one thing has been done yet for anyone on epassportes side to get crowned with great customer service. I feel bad for michael because epass is hanging him out to dry. Let me know if the same tune is being sung once they dont pay.
Notice how you're the only one having a giant hissy fit here? Spitting the dummy isn't going to expedite the whole process.

Michael is doing a great job - afterall he is dealing with your whining dumb fucking posts.
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Old 09-03-2010, 01:37 PM   #1043
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According to this post...

http://www.gofuckyourself.com/showthread.php?t=985237

VISA DID NOT CUT OFF THE BANK...THE BANK CUT OFF EPASSORTE.
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Old 09-03-2010, 01:47 PM   #1044
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does not look good.
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Old 09-03-2010, 01:51 PM   #1045
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Where my money .............
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Old 09-03-2010, 01:54 PM   #1046
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Old 09-03-2010, 01:55 PM   #1047
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Old 09-03-2010, 01:56 PM   #1048
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Call St. Kitts Nevis Anguilla National Bank yourself. You will be interested in hearing what they say about all of this. It doesn't jive with what Epass is saying.

Tel: (869) 465-2204 Mon - Thurs: 8 a.m. - 2 p.m. Fri: 8 a.m. - 4 p.m.
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Old 09-03-2010, 01:56 PM   #1049
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Double post. GFY just farted.
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Old 09-03-2010, 01:57 PM   #1050
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We need someone to do the hitler video al'a epassporte.

"Vhat do you meeen vee cannot witdrawl unless wallet!"
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