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Is this really gonna be resolved? Not like globill or ibill or the buncha others who got shut down in the past right?
Good lord I haven't been using epass very actively so not too much to lose this time. |
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I have been screwed 3 times already in the past, I hope epass is not the 4th or I will go out and kill someone |
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now that makes me feel good. I didn't lose an insane amount like other people, but still lost some, and it was money I worked hard for. So I'm hoping that this gets resolved. |
Even tho 50 bucks for a wire transfer is not much, why users should pay for it, when they already paid for their visa card?
Epassporte should cover the wire transfer cost, or at least give it at the actual cost, which is not $50. Visa is not owner of our money but of their cards, does not make any sense we can't get our money by transfer or crediting our personal cards. Epassporte is dead, even if they recover their visa program or get another, i just can't trust them anymore. I love ccbill so much, on time, everytime, no excuses, no problems just solutions. |
i think if epass will solve problems and make money available then most people will contunie using it as a company passed a stress test
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good thing about all this epass drama is I had constipation and yesterday night I had diarrea
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We all know "date x" never came. That thread is almost exactly 11 months old. |
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Pretty lame.
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Seriously, GTFO with that shit. |
Everyone should know Epass knew this way before
and this forum thread is just to calm down anyone with smoke clouds. Consider your money lost! They had warnings on 28 Jun, and epass thought " Mhh lets see how this works out " Sorry for everyone, but your better off finding alternatives and cutting down your loses. |
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I have a good amount of money in epass, but I still have faith in them at this point. An announcement/re-issue is needed next week or I'll lose faith. |
Not sure if this angle has been mentioned,
but if say 10% of ePassporte total funds are in Wallet, then paying out the wallet could be to look like they are 'doing what they can / still in business' while the VISA funds are taken. (to pay for Middle Men!) |
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Come on people, stop posting fucking bullshit. |
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It's a valid conspiracy theory - saying "THEY CANNOT" without any forethought is real BS. Stop the cover up, talk facts (and theories) |
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Now the bank OR Visa is making them stop using their Visa cards. In either case, I don't see Visa coming back. They really don't have a reason to. http://www.currencyofprogress.com/#/Moodys |
Dating Port - you might be right with what you said, but money can't be blocked just like that. VISA can either release the money and cut down the business with epass and their bank entirely, or just reactivate the again...
The money simply can't be lost just like that... |
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Epass has one with it There is no such thing as Accounts. |
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This scares me a lot, in case that the cards don't get unblocked... Hopefully that won't happen. I really have faith this will be resolved positively! |
http://en.wikipedia.org/wiki/Prepaid...ney_Laundering
The Financial Crimes Enforcement Network, a bureau of the US Department of the Treasury, has published a notice of proposed rulemaking on stored-value cards in the June 28, 2010 edition of The Federal Register. The proposed rules would require sellers of prepaid cards to register with the government and keep records on transactions and customers http://edocket.access.gpo.gov/2010/pdf/2010-15194.pdf |
http://www.bankinfosecurity.com/arti...hp?art_id=2683
The proposed changes were submitted to be published in the Federal Register on June 22. Once a 30-day comment period passes, FinCEN will consider the submitted comments and possibly amend the rules. . |
PREPARED REMARKS OF JAMES H. FREIS, JR.
DIRECTOR, FINANCIAL CRIMES ENFORCEMENT NETWORK U.S. DEPARTMENT OF THE TREASURY DELIVERED AT THE MONEY TRANSMITTER REGULATORS ASSOCIATION 2010 ANNUAL MEETING AND EXAMINERS’ SCHOOL OLYMPIC VILLAGE, CA SEPTEMBER 1, 2010 http://www.fincen.gov/news_room/spee.../20100901.html http://www.fincen.gov/news_room/rp/f...xam_Manual.pdf |
over the summer there has been a huge push for prepaid card companies to collect the same personal information as a bank does. thus why tons of people got requests for docs in the last month.
and during the same period mallick was playing movie producer and might not have given it the attention it should? just a theory. |
I haven't read all the posts...
I went to my account to withdraw funds. All my funds are on the Visa side. So I enter an amount and receive a notice that I have zero funds in my Wallet and as a courtesy Epass was transferring funds from Visa to My Wallet. No change in the $3.00 fee. I canceled before making the actual test as it would have put the account at zero and I didn't want to do that. The dollars are still there. It is just a matter of getting to them. And for my small amout, I could have moved the funds to my checking account. That doesn't solve all the problems I know, but for some it is a way to get to your funds. |
my guess is that visa was going to bring itself into voluntary compliance with what the gov wanted, they wanted epass to do it by a certain date and didn't. they prob would rather break off business with epass than lose a working relationship with the gov.
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I won't speculate anymore, it makes me more nervous. I'll wait till Tuesday, Wednesday and see what they can say about it. |
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" The card is the property of the Bank and must be returned upon request " That is from the back of the actual card .... |
so i hope they just get their books in order and back to business. i have no idea though really. epass rocks.
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The point here is that bank can't just decide to use our money... |
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How's that for a conspiracy theory? |
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Fingers Crossed! |
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Tjeezers is spot on ... ePassporte has the bank accounts not individual users. ePassporte user accounts are not individual bank accounts, but rather much akin to PayPal user accounts. If ePassporte is liquidated, cuts and runs, or whatever ... say bye, bye to the money. Simple as that. As of now, many are hoping that ePassporte is quickly working on straightening out the accounting / procedural issues, and gets the virtual visa funds over to user's ePass wallets so they can pay others, withdraw, etc. Ron |
Ron, I completely understand all the situation how the card works and what's bank and what's VISA. My point is that with VISA prepaid cards, the bank issuer of those cards is in connection with VISA and allows users to load their cards w/o the need to have a bank account with it. Once the cards are loaded they are in "VISA's hands" - in terms that, if VISA decides to suspend them, the money is frozen and bank can't do pretty much anything to get them out the card.
That's the situation we're facing here. Our money is on our VISA Virtual/Electron cards. The cards are suspended, hence the money is frozen. Bank did its job, it issued the cards and 'deposited' our money (through epassporte) to our cards. Now the only thing we can pray and hope for to happen is for VISA to release the cards again so we can access the money. That's pretty much the whole story. And after spending 3 days in straight reading on this subject I'm pretty much sure the information is accurate. |
from what i understood the money is in an account and gets released when ever money is transferred. you do not have a bank account with that card.
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(I mean not now, but a week ago) |
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VISA suspended access to its network, but how / why would VISA would freeze the money?
Either the money isn't really frozen -or-, as some knowledgeable financial folks have posted in some forums, ePassporte did something very, very bad - if so, the money is likely good as gone. While most questions have been answered by Michael O., a big one not answered (unless I missed it) is WHY did VISA act when and how it did? VISA usually doesn't act that quick and aggressively unless something is very rotten. Ron |
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