DO NOT withdraw all your money from Epass
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Creating a run on the bank is not going to solve things, just makes matters worse.Comment
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This is how I envision it (if it's even close, I have no idea). I would *think* that ePass just acts as a middle man (no phun intended).
So for instance ePass has a bank account at St. Kitts and let's say everyone's ePass accounts are "sub-accounts." So you have money in VV and in the wallet and want to move it. So you move wallet your wallet money to VV - now that wallet money pulls and goes into the ePass bank account. Then ePass' bank account then sends the money pulled out from the wallet over to VV. And once on VISA, in their control until you spend it or move it again. So if VISA decides to freeze accounts, ePass can't act as the middle man to move the money.Comment
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No wonder you're MISS GFYThis is how I envision it (if it's even close, I have no idea). I would *think* that ePass just acts as a middle man (no phun intended).
So for instance ePass has a bank account at St. Kitts and let's say everyone's ePass accounts are "sub-accounts." So you have money in VV and in the wallet and want to move it. So you move wallet your wallet money to VV - now that wallet money pulls and goes into the ePass bank account. Then ePass' bank account then sends the money pulled out from the wallet over to VV. And once on VISA, in their control until you spend it or move it again. So if VISA decides to freeze accounts, ePass can't act as the middle man to move the money.
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This is url to use to transfer money from VV to Wallet
https://www.epassporte.com/secure/transferwithin.cgi
How can VISA be the one controlling this and if funds are safe and it is just the cards who are no longer working, then why the hell can't we use this EPASSPORTE transfer function?Comment
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Visa blocked the cards and they have the right to do so i guess, cause it's their cards. But they know the money is in epassporte accounts and does not belong to visa, so why would they even care if we, epassporte's clients, would get our money back in our bank accounts via epassporte wallet system wire transfer.Comment
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Kristin:This is how I envision it (if it's even close, I have no idea). I would *think* that ePass just acts as a middle man (no phun intended).
So for instance ePass has a bank account at St. Kitts and let's say everyone's ePass accounts are "sub-accounts." So you have money in VV and in the wallet and want to move it. So you move wallet your wallet money to VV - now that wallet money pulls and goes into the ePass bank account. Then ePass' bank account then sends the money pulled out from the wallet over to VV. And once on VISA, in their control until you spend it or move it again. So if VISA decides to freeze accounts, ePass can't act as the middle man to move the money.
I think you're partially correct. Money from the wallet "called" by a VV holder would move into a quasi-account attached to the VV for availability to withdraw through the Interchange and ATM networks.
VISA, is a "Card Association" which means they license banks to issue their product and they operate the interchange networks through which transactions are cleared. They do not actually hold the money. In this instance, the funds on VVs should still reside at St. Kitts on a different ledger balanced back to the "balances" on all outstanding VVs.
The fact that ePassporte has been able to settle requests for payouts by other means (ACH/Wire) from the wallet, while encouraging, does little to address the issues related to the original problem, which is the freeze of the VV program.
In my opinion, it now comes down to what action was taken by whom. If the program was simply closed by VISA and/or the Bank, then those funds should be migrated back to the wallets, but this may take a bit of time to do because they'll have to review the accounts for outstanding pending auths, etc.
If there was a bigger problem with the way the VV was operated and some regulatory agency forced the shut down then it could take significantly longer to recover the funds and move them back to the wallet.
I look forward to hearing from ePassporte today. I would assume that post holiday they're going to be able to provide some clarification on the actions taken to meet their obligations to their clients.
www.2MPAY.com
www.MobiusPay.com
ICQ: 601750183
Skype: MobiusPay
Twitter: MobiusPay
Payment Industry Subject Matter ExpertComment
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If it's true wires and ACH withdrawals are going thru it is important that we don't make Epass insolvent. Withdraw half your money or just enough to make sure it is working. Just like any bank I highly doubt that Epass has enough cash to cover all the money in everyone's account at one time. We need Epass as much as they need us so let's support them by not taking everything out. As soon as I can confirm that ACH is working I will immedietly begin accepting epass payments again.
We are not all as rich as you.Comment
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This people, is an example of a well thought out and written post.Kristin:
I think you're partially correct. Money from the wallet "called" by a VV holder would move into a quasi-account attached to the VV for availability to withdraw through the Interchange and ATM networks.
VISA, is a "Card Association" which means they license banks to issue their product and they operate the interchange networks through which transactions are cleared. They do not actually hold the money. In this instance, the funds on VVs should still reside at St. Kitts on a different ledger balanced back to the "balances" on all outstanding VVs.
The fact that ePassporte has been able to settle requests for payouts by other means (ACH/Wire) from the wallet, while encouraging, does little to address the issues related to the original problem, which is the freeze of the VV program.
In my opinion, it now comes down to what action was taken by whom. If the program was simply closed by VISA and/or the Bank, then those funds should be migrated back to the wallets, but this may take a bit of time to do because they'll have to review the accounts for outstanding pending auths, etc.
If there was a bigger problem with the way the VV was operated and some regulatory agency forced the shut down then it could take significantly longer to recover the funds and move them back to the wallet.
I look forward to hearing from ePassporte today. I would assume that post holiday they're going to be able to provide some clarification on the actions taken to meet their obligations to their clients.
Thank you for a breath of fresh air.Comment
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this is one of the worst advices given in this situation and second, they should have every penny in the bank otherwise they have been playing with your money. Mark my words there will be a lack of funds for epassporte or the bank backing them.Don't let greediness blur your vision | You gotta let some shit slide
icq - 441-456-888Comment
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Thanks, Pimp!
Payment Operations, as boring as this may sound, is my life. I wanted to help clarify the issue based on my experiences in wallet land.
If there's anything I can do for you, feel free to get in touch.
Mike
www.2MPAY.com
www.MobiusPay.com
ICQ: 601750183
Skype: MobiusPay
Twitter: MobiusPay
Payment Industry Subject Matter ExpertComment
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I heard that the Virtual cards will be re-instated soon. Anyone know anymore?Comment
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hell can i still load money into my account LOLComment
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All of these threads are golden to see who the douches are.
Is the Bro romance over?Comment
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Please let us know if you are uncertainIf it's true wires and ACH withdrawals are going thru it is important that we don't make Epass insolvent. Withdraw half your money or just enough to make sure it is working. Just like any bank I highly doubt that Epass has enough cash to cover all the money in everyone's account at one time. We need Epass as much as they need us so let's support them by not taking everything out. As soon as I can confirm that ACH is working I will immedietly begin accepting epass payments again.Comment
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I just got back from the war in afghanistan, my epass cards not working..Comment
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Great advice choker. We should listen to the "Bros" a lot more for sound advice. </sarcasm>Comment
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Was this the last time Choker ever posted here?If it's true wires and ACH withdrawals are going thru it is important that we don't make Epass insolvent. Withdraw half your money or just enough to make sure it is working. Just like any bank I highly doubt that Epass has enough cash to cover all the money in everyone's account at one time. We need Epass as much as they need us so let's support them by not taking everything out. As soon as I can confirm that ACH is working I will immedietly begin accepting epass payments again.
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