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-   -   ePassporte Official Statment (http://www.greenguysboard.com/board/showthread.php?t=58823)

pc 2010-09-16 08:45 PM

Some sponsors starts to offer payouts through payoneer.com

Cleo 2010-09-16 09:33 PM

This has been posted in our inbox.

Quote:

September 16, 2010

Over the past few days there have been numerous blogs and posts calling into question the reputation of Mr. Gregory Elias, United International Trust and United International Bank.

We are issuing this press release to clarify Mr. Elias' position as well as the position of United International Trust and United International Bank in regards to ePassporte.

ePassporte has utilized the services of United International Trust since 2006. United International Trust serves only to manage the corporate governance of ePassporte and has no input, or control as regards its daily management.

In 2009 United International Bank was formed to provide commercial and corporate banking services and subsequently ePassporte has moved some of its operating accounts to this bank.

United International Bank does not hold funds for ePassporte holders. United International Bank merely pays the vendors for ePassporte.

Neither Mr. Elias, United Trust nor United International Bank have any control over these funds.

All requests and inquiries should be forwarded to ePassporte at the Message Center, which you may log on to at www.epassporte.com if you are an active cardholder.

We apologize to Mr. Elias, United Trust and United Bank for any confusion that may have arisen these last weeks as a result of difficulties we at ePassporte, with St. Kitts-Nevis-Anguilla National Bank, are responsible to manage.


Christopher Mallick, for ePassporte

September 16, 2010

ePassporte N.V. has had several extensive meetings with St. Kitts Nevis Anguilla National Bank (the "Bank") in an effort to resume operations and card functionality.

We are encouraged and believe these meetings and ongoing discussions with the Bank will result in all card functions becoming operational shortly, although a date has not yet been determined.

ePassporte and St Kitts Nevis Anguilla National Bank want to assure cardholders that their funds are safe and that resuming operations is a key and attainable goal.

A few very import points:

For information regarding your Account, it is imperative that you contact us via the Message Center or call our Account Holder Services line (310.301.2001).

PLEASE DO NOT contact ePassporte N.V. in Curacao, Mr. Elias, United Bank or St. Kitts Bank. Messages sent to the above may not be answered. All operational issues are handled by the ePassporte team via the Message Center or Call Center ONLY. Please also avoid posting your username on forums as this could pose a security risk to your Account.

We greatly appreciate your continued patience and understanding and will continue to update you regarding this situation via the Message Center.


Sincerely,

ePassporte.com

ePassporte Message from Chris Mallick

We at ePassporte are as distressed as you, our valued cardholders, over an action that we did not see coming and as of today we still have received no good basis for it.

First, be assured that your funds are fully safe and protected. You are owed that and it will be fulfilled. The funds are secure.

Second, ePassporte is working with the St. Kitts bank to work out how all payments will be made and when. The details are complicated, because there are funds in motion and where and when they settle requires us to all be careful that we fully and properly account for all those funds and their rightful owner. This issue stems from our processing and reporting ability through the Visa system and their processor.

Third, ePassporte's most important asset has always been our account holder's. We are not going to undermine that asset by treating cardholders in any manner other than the best we can.

Most of us have had the unfortunate experience of dealing with banks and card associations that simply "cut us off" and did not pay us. Those actions were limited to card acquiring (merchant accounts), not card issuing, which is what we do. We can all take some comfort in the fact that this situation is not anything like the acquiring side of the business.

We all fully understand that communication to our cardholders is critical. However, it does not help any of us if we are constantly updating you on the basis of the calls that take place almost hourly. It seems to us that giving you facts, based on agreements we are working on is the best form of communication. This is what we will be doing. When we know something, that is a fact, we will report it, quickly. Our staff is all working diligently to resolve these issues and the many moving and complicated parts of getting the funds returned. Therefore, please do not mistake our silence as "hiding", "avoiding" or "stringing you along". We too have funds that are stuck in the system, as well as massive costs of operation without any income.

Rest assured that when we know, you will know and you will all be satisfied with the results. Again, your money is safe.

For those of you that have been in the industry for many years, I hope you will recall that I have a very strong track record of fighting for the rights of webmasters, program sponsors, billing companies, merchants and the industry; that dedication continues.

Thanks you for your understanding in this difficult time and for your support over the last 8 years of our operations.

Chris Mallick
For ePassporte

plateman 2010-09-16 10:19 PM

imo the only thing that can save our money is to stay put and trust that our money is safe and were gonna get it, if all the sponsors run and never go back and us webmasters do the same, then there done IMO & we may never get anything or maybe half of the card holders will get there's

I think chris lost a ton on the movie thing, and had to use our money to get him out of trouble, now he is prolly been rounding up some investors to invest in epass to give our money back...

and/or he is prolly working out the details to pay back a mega loan to get epass back in action, and when your talking that much money it takes days and days of meetings

if he can pull it off and I can go get my cash out I will leave 20.00 in my account to show that I am still a customer, if you dont trust him with that then dont close your account

all of us should show that if he pays out, the adult net biz will still use there service, cause we mostly all love epass, and it makes our life a little less of a hassle...

Mr Spock 2010-09-17 02:56 AM

As an affiliate payment option they are dead , granted the Visa side isn't even needed to make affiliate payments to the wallet and you can safely transfer form the wallet to your bank , credit card. However finance is all about faith and it seems that ePassporte have used/lost that. Several affiliate programs are opting out and no longer offer ePassporte as an option.

Payoneer is already stepping into the gap and I will be looking at that option. if the problem with ePassporte were fixable it would be fixed by now.

ecchi 2010-09-17 09:32 AM

Quote:

Originally Posted by Mr Spock (Post 490589)
Payoneer is already stepping into the gap and I will be looking at that option. if the problem with ePassporte were fixable it would be fixed by now.

I looked into Payoneer when it looked like my current processor was about to disappear. Two things struck me, and scared me away:

1) If you want to use their service to pay affiliates they don't have a published fee schedule, instead you have to contact them with your details and a rep will talk to you. Or in other words, they work out the maximum they can screw you for on a case by case basis. Not very encouraging.

2) If you are the person receiving funds, and you want to find out how much it will cost you in advance of signing up, you cannot. Their FAQ states:
Quote:

What are the costs associated with the card?
Costs are listed and explained when you sign into "My Account"
Or in other words: Their fees for the person receiving funds are so damned high that they dare not tell you the fees until AFTER you have signed up!

All I can say from that is "Come back ePassporte, all is forgiven"!

ecchi 2010-09-17 09:41 AM

Quote:

Originally Posted by Mr Spock (Post 490589)
Several affiliate programs are opting out and no longer offer ePassporte as an option.

Lesson one in how to make a bad situation worse for yourself!

If ePassporte do come back, affiliates who signed up for those programmes to use ePassporte will simply drop them and go elsewhere. And with an increasing number of WMs using ePassporte there will be a less new WMs signing up for their program.

And even if ePassporte is a dead duck, a lot of WMs are expecting them to come back, so will leave those sponsors anyway.

So expect those sponsors who drop ePassporte to appear in the "Cemetery of Sponsors" thread in the near future!

tickler 2010-09-17 10:03 AM

The threads at the zoo seem to indicate that you would have to have a different card for each sponsor, meaning more fees, smaller balances per card.

I don't think they have the P2P transfers either.

blinki bill 2010-09-17 08:02 PM

payoneer.com is not a very good option, paypal would be better. I'm not sure why affiliates don't use paypal, i mean they can't use paypal to cell subscriptions but paying to your affiliates is not a problem, there are few programs that do it already

since the epass-visa issue is not solved yet it probably won't, maybe they should go for a new deal instead - mastercard?
however a lot of sponsors are dropping the epass as an option which i think this is not very good, I still prefer epass as payment option as i can transfer the money from my wallet to my own debit card. A lot of european webmasters may feel the same.
The other payment options are not very good when based in europe - checks take ages to cash into your account and you have to pay 10 euro/pounds(imagine what's left from 50$) and you can't even cash in a check if the amount is less than 100$ (50$ is 30 pounds or 35 euro which is way below the minimum).
The wire is also not a good option as it costs around 20-50$ and the minimum amount is very high(500$ for some sponsors)

ecchi 2010-09-17 08:09 PM

Quote:

Originally Posted by blinki bill (Post 490620)
I'm not sure why affiliates don't use paypal, i mean they can't use paypal to cell subscriptions but paying to your affiliates is not a problem, there are few programs that do it already

You have no idea how hard it is not to use this comment as an excuse to spam my prog. :)
Seriously though, PayPal don't like it, even just to pay affiliates, so you have to keep real quiet about it and hope word of mouth gets round.

Ms Naughty 2010-09-18 03:54 AM

Epassporte is asking for verification, wanting copies of my driver's licence and other stuff before I can use the service again.

I'm wondering, should I bother? There's something disconcerting about sending off a scanned copy of my ID, especially when the whole thing is up in the air.

Did anyone else get this request? What do you think I should do? Verify and then wait? Or just wait, cross my fingers that it will be fixed and THEN verify?

Perhaps my question to Epassporte is: does getting your Visa status back require webmasters to show they're not money launderers?

ecchi 2010-09-18 08:04 AM

Quote:

Originally Posted by grandmascrotum (Post 490624)
Epassporte is asking for verification, wanting copies of my driver's licence and other stuff before I can use the service again.

I got that message the other day, it came right after I visited their site. I was under the impression that it was triggered by my visit, so had you just visited the site too?

My problem with it is that they are demanding things that I do not have, so I cannot oblige.

tickler 2010-09-18 08:59 AM

Quote:

Originally Posted by grandmascrotum (Post 490624)
Epassporte is asking for verification, wanting copies of my driver's licence and other stuff before I can use the service again.

I'm wondering, should I bother? There's something disconcerting about sending off a scanned copy of my ID, especially when the whole thing is up in the air.

Did anyone else get this request? What do you think I should do? Verify and then wait? Or just wait, cross my fingers that it will be fixed and THEN verify?

Perhaps my question to Epassporte is: does getting your Visa status back require webmasters to show they're not money launderers?

I got the same request also, but for a copy of another credit card as ID.

Do they really think I will give them access to one of my credit cards(including CSV), when the current one is messed up? |crazy|

tickler 2010-09-18 09:00 AM

post 2000, neat!

blinki bill 2010-09-18 03:45 PM

asking for photo id is normal, paypal and others do the same if you reach certain amount in six months. however asking all users like that with no explanation just after the mess up is a huge mistake...

GonZo 2010-09-20 11:47 AM

Looks like they paid the phone bill for the call center.
Mighty professional!

markuzz 2010-09-22 05:14 PM

And so...this story continues.....|headbang|

Charlie 2010-09-22 05:54 PM

I would so give up on epassporte! Why he's not in jail is completely beyond my comprehension

ecchi 2010-09-22 06:34 PM

Quote:

Originally Posted by Charlie (Post 490906)
Why he's not in jail is completely beyond my comprehension

It is due to a little matter of him not having done anything illegal. True, he is an asshole (if my experience is anything to go by) - but being an asshole is not yet a crime, and if it were, most of the jails would be full by now!

Charlie 2010-09-22 07:25 PM

Quote:

Originally Posted by ecchi (Post 490909)
It is due to a little matter of him not having done anything illegal. True, he is an asshole (if my experience is anything to go by) - but being an asshole is not yet a crime, and if it were, most of the jails would be full by now!

Yes, but how is being responsible for people not being able to get their money not illegal? Just curious.

I just want to know the angel so I can pull this shit next! |bananna|

ecchi 2010-09-22 07:33 PM

Quote:

Originally Posted by Charlie (Post 490910)
Yes, but how is being responsible for people not being able to get their money not illegal?

Unless you are just trying to be funny for the sake of it, read this thread fully and the links leading from it, because I don't think you actually understand what the situation is!

Charlie 2010-09-22 07:39 PM

Quote:

Originally Posted by ecchi (Post 490911)
Unless you are just trying to be funny for the sake of it, read this thread fully and the links leading from it, because I don't think you actually understand what the situation is!

I understand you can't get your money. WHAT THE FUCK ELSE AM I SUPPOSE TO UNDERSTAND? Who the fuck are you and why are you trying to make excuse for epassporte keeping people's money?

I Know one person personally you owe four grand to. When are you going to pay him?

ecchi 2010-09-22 07:47 PM

Quote:

Originally Posted by Charlie (Post 490912)
I understand you can't get your money. WHAT THE FUCK ELSE AM I SUPPOSE TO UNDERSTAND? Who the fuck are you and why are you trying to make excuse for epassporte keeping people's money?

I Know one person personally you owe four grand to. When are you going to pay him?

Q.E.D.

Charlie 2010-09-22 07:50 PM

Quote:

Originally Posted by ecchi (Post 490914)
Q.E.D.

I'm going to take this as a NO!

It's right up there with their emails.

Hundreds of thousands of dollars.

Madoff really fucked up or he wouldn't have been doing a day behind bars LOL |bananna|

ecchi 2010-09-22 07:59 PM

Quote:

Originally Posted by Charlie (Post 490915)
I'm going to take this as a NO!

Q.E.D. actually means "Thus I have proved what I set out to prove" (although the more pedantic will point out that it is not supposed to be used in situations like this).

The point I was making is: - It is not ePassporte who are keeping other people's money. Always read a thread fully before replying to it, because people will assume that you know the facts and are saying what you believe based on what is actually happening. And your comments are of the same school as that Middle Eastern country (forget which) that hit the headlines last year when a woman was raped, the courts agreed with her version of the events, but still jailed her for having sex out of wedlock.

Charlie 2010-09-22 08:02 PM

Quote:

Originally Posted by ecchi (Post 490916)
Q.E.D. actually "Thus I have proved what I set out to prove" (although the more pedantic will point out that it is not supposed to be used in situations like this).

The point I was making is: - It is not ePassporte who are keeping other people's money. Always read a thread fully before replying to it, because people will assume that you know the facts and are saying what you believe based on what is actually happening. And your comments are of the same school as that Middle Eastern country (forget which) that hit the headlines last year when a woman was raped, the courts agreed with her version of the events, but still jailed her for having sex out of wedlock.

Once again, since your beliefs are so strong, will you put your money where your mouth is and give me the four grand my friend is owed cause of course epass will surely back you up being the legitimate business people they are?

This is really all that matters.

Charlie 2010-09-22 08:13 PM

this is the kind of things that get me through these moments http://www.youtube.com/watch?v=OqeKV2UYq1Q

ecchi 2010-09-22 08:19 PM

Quote:

Originally Posted by Charlie (Post 490917)
Once again, since your beliefs are so strong, will you put your money where your mouth is and give me the four grand my friend is owed cause of course epass will surely back you up being the legitimate business people they are?

This is really all that matters.

Jesus, read the fucking thread through before you comment. Your heart is in the right place, but your comments are making you look really, really stupid.

For a start, as I said - EPASSPORTE ARE NOT THE PEOPLE STOPPING PAYMENTS.

Secondly, even though you have not read the posts you are commenting on, I cannot see how anyone can assume that ePassporte would take this action themselves, it is crippling their own business, and whatever the outcome they are going to loose millions over it.

Thirdly, your comments about Madoff are insane, there is no similarity. You might just as well compare ePassporte with the Catholic Church for all the sense there is in comparing them with Madoff (but I think you have made it possible for them to recoup some of their losses by suing you for liable - well done).

And incidentally, I have no love for the guy who runs ePassporte, as I said, he is an asshole. I would also be happy to pay good money to spend five minutes kicking shit out of him, but over other things, not this (which is hurting me badly, but at least I have the sense to read the facts before commenting on the situation).

Charlie 2010-09-22 08:26 PM

Quote:

Originally Posted by ecchi (Post 490920)
Jesus, read the fucking thread through before you comment. Your heart is in the right place, but your comments are making you look really, really stupid.

For a start, as I said - EPASSPORTE ARE NOT THE PEOPLE STOPPING PAYMENTS.

Secondly, even though you have not read the posts you are commenting on, I cannot see how anyone can assume that ePassporte would take this action themselves, it is crippling their own business, and whatever the outcome they are going to loose millions over it.

Thirdly, your comments about Madoff are insane, there is no similarity. You might just as well compare ePassporte with the Catholic Church for all the sense there is in comparing them with Madoff (but I think you have made it possible for them to recoup some of their losses by suing you for liable - well done).

And incidentally, I have no love for the guy who runs ePassporte, as I said, he is an asshole. I would also be happy to pay good money to spend five minutes kicking shit out of him, but over other things, not this (which is hurting me badly, but at least I have the sense to read the facts before commenting on the situation).

Actually I would throw epass in with the Catholic Church no problem, especially after make their MOVIE. I want money, bottom line. I give no shit about their personal problems or yours.

Excuses for people not being paid are only as pathetic as those people backing them up (LIKE YOURSELF).

How can a middle man walk the streets without giving the money that's owed to the people he's dealing with. I've done time in prison and etc.a nd dealt with the crips and bloods and the east coast mobs. I can't imagine such a thing.

Please let me torture this loser!

ecchi 2010-09-22 08:37 PM

Quote:

Originally Posted by Charlie (Post 490921)
Actually I would throw epass in with the Catholic Church no problem, especially after make their MOVIE. I want money, bottom line. I give no shit about their personal problems or yours.

Excuses for people not being paid are only as pathetic as those people backing them up (LIKE YOURSELF).

How can a middle man walk the streets without giving the money that's owed to the people he's dealing with. I've done time in prison and etc.a nd dealt with the crips and bloods and the east coast mobs. I can't imagine such a thing.

Please let me torture this loser!

It has gone 1:30 AM here, and I am about to go to bed. I'll make one last attempt to get you to actually think:

If you are walking down the road and some idiot in a car spins out of control, runs into you, and throws you clean through a shop window. You think the driver should get off scott free, but you should go to jail for vandalism, because you smashed the shop window when the car threw you through it???

Your last post can be summarised as "I don't care who is guilty, and I am happy to let the real guilty person get off free, provided I am allowed to blame one of the victims and torture them".

I really hope you are making the mistake of posting while drunk or stoned, because I'd hate to have to believe that any human being would think as you think, when sober.

Charlie 2010-09-22 08:45 PM

Quote:

Originally Posted by ecchi (Post 490922)
It has gone 1:30 AM here, and I am about to go to bed. I'll make one last attempt to get you to actually think:

If you are walking down the road and some idiot in a car spins out of control, runs into you, and throws you clean through a shop window. You think the driver should get off scott free, but you should go to jail for vandalism, because you smashed the shop window when the car threw you through it???

Your last post can be summarised as "I don't care who is guilty, and I am happy to let the real guilty person get off free, provided I am allowed to blame one of the victims and torture them".

I really hope you are making the mistake of posting while drunk or stoned, because I'd hate to have to believe that any human being would think as you think, when sober.

I AM ACTUALLY posting while drunk and stoned! BUT!!! Even under this conditions, you are assuming epass was blind sided, and I will never buy that in my entire life.

You should probably get some sleep and I won't hold it against you we can pick this up again when we are both on the same wave length.

Goodlove 2010-09-23 06:11 AM

After I logged into my account the other day, I got a message, so logged back in to see my account was on hold and I have to send them copies of my ID etc.

I'm bamboozled by this, is this some attempt to hold the funds of epassporte account holders? I don't have much in my account wallet and even less on my visa card, but why do I have to send them copies of my ID? I'm not even sure I trust sending them that data, I'll probably let them keep the measly $100 there is in the wallet.

ecchi 2010-09-23 07:05 AM

Quote:

Originally Posted by Charlie (Post 490923)
we can pick this up again when we are both on the same wave length.

Not a lot of point doing that. Either you are going to look at this sober and realise what you were saying yesterday, or you are going to still be saying the same stuff sober. If the former, then we probably more or less agree, if the latter, then arguing with you will be a waste of time.

ecchi 2010-09-23 08:00 AM

Sorry, just realised that the last sentence on my previous post sounded insulting, it was not meant that way.

Charlie 2010-09-23 08:18 AM

Quote:

Originally Posted by ecchi (Post 490940)
Sorry, just realised that the last sentence on my previous post sounded insulting, it was not meant that way.

No offense taken.

Being half sober now (with hangover), I still don't think epass is one of the victims. Maybe they are and that's why there are no legal actions against them. I do admit that I always found them to be pretty incompetent and thus always paid the 3 bucks to have even my minimum payments withdrawn from them immediately. I had so many problems with them in the past just simply withdrawing to my own US bank account that something major (even if it hadn't been this) seemed almost inevitable to me.

I don't even see how he can start back up without paying back that money whether it's his fault or not, or having it unfrozen if that is the actual case.

I love they way they always tell you, your money is safe. Great! But it's not in my hands. Why don't you let me have it so I can keep it safe myself LOL. Again not me personally. I don't think I even lost a dollar like I said, but I certainly won't use them to receive payments ever again. They are complete screw ups in my eyes.

petergg2 2010-09-23 09:09 AM

if they back and work again I will use them again,

because this the best way for me to get small payment's from eg. 10 sponsor's - from $35 to $100 and then immediately take cash at ATM

cashing check in europe for such low amount is problem - cost more money and more time

ecchi 2010-09-23 09:36 AM

Quote:

Originally Posted by Charlie (Post 490943)
I don't even see how he can start back up without paying back that money whether it's his fault or not, or having it unfrozen if that is the actual case.

Well that is a given. Assuming this gets sorted out, eP will be dead in the water if their clients loose money.
Quote:

Originally Posted by Charlie (Post 490943)
I love they way they always tell you, your money is safe. Great! But it's not in my hands. Why don't you let me have it so I can keep it safe myself LOL.

Because there is no legal way he can do this. It would require monumental financial misdealing at eP's end, and if they even tried they are looking at 20+ years in prison. And worse, any US bank account that they do manage to get money into is going to get frozen by the government while they look into it, which will probably take years! You really want to be unable to withdraw any money from your own bank account for the next few years?
Quote:

Originally Posted by Charlie (Post 490943)
I do admit that I always found them to be pretty incompetent They are complete screw ups in my eyes.

Another given, but this time, there lack of a brain (or heart) is not the cause of the problem.

The problem is US federal banking law, which is a mess to put it mildly. There are corrupt African states run by incompetent military juntas who have better banking systems that the US. An when things go tits up, it takes them ages to sort things out.

It is costing the US a fortune, because no one likes to do business with American companies, not because they don't like the companies, but because it is such a pain to exchange money for services/goods. Part of the reason your economy has still not fully recovered from the crash is down to this.

As an example, the only US companies I currently use are sponsors (because there are very few non US ones), eBay/PayPal (because they have an European division which is separate from the American division, so I do not have to deal with US laws), and ePassporte (which has just confirmed my "never use US companies" rule). For things like hosting, payment processing, affiliate account management, distribution, advertising, etc - for which there are plenty of good US companies I can use - I always use European companies because of the shit problems of dealing with US banking laws.

This is also why ePassporte got so big so quickly. No country likes dealing with US banks, simply because the law on your side of the planet is so unfit for purpose that it makes life difficult for everyone. And when a non US bank does deal with a US bank they charge their clients high. For example to cash a non British cheque from any country other than the US costs me up to about the equivalent of a dollar and a half. To cash a US cheque costs me nearly the equivalent of 20 dollars, over ten times as much! And baring in mind that some sponsors send me a cheque when the amount goes over $50, that means I have to give nearly half my money to the bank (one sponsor even sends out cheques for $35). So going via ePassporte and using ATM to withdraw is the only sensible way to go if you do not live in the US. Since the US now only accounts for less than a third of English Language business on the 'net, any sponsor who does not offer ePassporte is throwing away two thirds of their business, no sane company would do that! So, assuming this matter does get cleared up, eP is here to stay, at least until someone starts a viable alternative.

Charlie 2010-09-23 11:04 AM

Quote:

Originally Posted by ecchi (Post 490952)
Well that is a given. Assuming this gets sorted out, eP will be dead in the water if their clients loose money.

Because there is no legal way he can do this. It would require monumental financial misdealing at eP's end, and if they even tried they are looking at 20+ years in prison. And worse, any US bank account that they do manage to get money into is going to get frozen by the government while they look into it, which will probably take years! You really want to be unable to withdraw any money from your own bank account for the next few years?

Another given, but this time, there lack of a brain (or heart) is not the cause of the problem.

The problem is US federal banking law, which is a mess to put it mildly. There are corrupt African states run by incompetent military juntas who have better banking systems that the US. An when things go tits up, it takes them ages to sort things out.

It is costing the US a fortune, because no one likes to do business with American companies, not because they don't like the companies, but because it is such a pain to exchange money for services/goods. Part of the reason your economy has still not fully recovered from the crash is down to this.

As an example, the only US companies I currently use are sponsors (because there are very few non US ones), eBay/PayPal (because they have an European division which is separate from the American division, so I do not have to deal with US laws), and ePassporte (which has just confirmed my "never use US companies" rule). For things like hosting, payment processing, affiliate account management, distribution, advertising, etc - for which there are plenty of good US companies I can use - I always use European companies because of the shit problems of dealing with US banking laws.

This is also why ePassporte got so big so quickly. No country likes dealing with US banks, simply because the law on your side of the planet is so unfit for purpose that it makes life difficult for everyone. And when a non US bank does deal with a US bank they charge their clients high. For example to cash a non British cheque from any country other than the US costs me up to about the equivalent of a dollar and a half. To cash a US cheque costs me nearly the equivalent of 20 dollars, over ten times as much! And baring in mind that some sponsors send me a cheque when the amount goes over $50, that means I have to give nearly half my money to the bank (one sponsor even sends out cheques for $35). So going via ePassporte and using ATM to withdraw is the only sensible way to go if you do not live in the US. Since the US now only accounts for less than a third of English Language business on the 'net, any sponsor who does not offer ePassporte is throwing away two thirds of their business, no sane company would do that! So, assuming this matter does get cleared up, eP is here to stay, at least until someone starts a viable alternative.

You think any of these companies being temporarily offered have a shot? Like payoneer or Web Money etc?

Does security have anything to do with US Banking problems? I mean I like the idea my money is insured for up to a quarter million or do all countries do that (or at least in Europe)?

ArtWilliams 2010-09-23 11:12 AM

Quote:

Originally Posted by Charlie (Post 490954)
You think any of these companies being temporarily offered have a shot? Like payoneer or Web Money etc?

Does security have anything to do with US Banking problems? I mean I like the idea my money is insured for up to a quarter million or do all countries do that (or at least in Europe)?

I am certain the the ePassporte VISA was suspended due to their inability to satisfy American anti-money laundering laws. Can these other companies satisfy those requirements? It is highly unlikely.

ecchi 2010-09-23 02:18 PM

Quote:

Originally Posted by Charlie (Post 490954)
You think any of these companies being temporarily offered have a shot? Like payoneer or Web Money etc?

I have no idea about Web Money, but Payoneer has no hope unless they change their policies - see my comments in a earlier post in this thread.


Quote:

Originally Posted by Charlie (Post 490954)
Does security have anything to do with US Banking problems? I mean I like the idea my money is insured for up to a quarter million or do all countries do that (or at least in Europe)?

Originally the problem was simply the American government's fear of foreigners, they put up all sorts of barriers to foreign money to stop non-American companies getting a toe-hold in US trade. Unfortunately no one realised that it worked both ways, and you were keeping foreign money out, screwing up the US balance of payments.

I have also been told (by a bank manager) that the US banking system itself is very backward compared with most European countries, so that the problems are compounded by the fact that American banks simply do not have as high a level of technology as Europe.

I would guess that the current security fears have made things even worse, and the eP problems may (as artwilliams assumes) be wholly or partly triggered by this. But all countries have the same problem, so the US government has no excuse for being worse than elsewhere.

It is also possible that the crash scared more useless regulations into being (but...ditto).

However the shit state of US banking laws is not a new thing, it predates the twin towers attack, I have been having problems for about 20 years, and when I started working internationally it was already very much an old story.

Worryingly, since so many major banking transactions are beginning to rely on Broadband, and America lags far behind Europe in broadband availability, things are probably going to get worse.

In short, George W. had already mortgaged the US's ass to Asia before the crash, now things are even worse. And if the banking system does not pull itself out of the past and get with the program, America will never be able to get enough money in to pay off it's foreign debts. The result will be galloping inflation, low wages, and mass unemployment. So if Mr Ob does not do something pretty drastic pretty quick, the Mexican border will soon be patrolled by Mexican soldiers, desperately trying to stop US citizens sneaking into Mexico looking for work!

|skyfall|

Charlie 2010-09-23 04:34 PM

Quote:

Originally Posted by ecchi (Post 490976)
I have no idea about Web Money, but Payoneer has no hope unless they change their policies - see my comments in a earlier post in this thread.



Originally the problem was simply the American government's fear of foreigners, they put up all sorts of barriers to foreign money to stop non-American companies getting a toe-hold in US trade. Unfortunately no one realised that it worked both ways, and you were keeping foreign money out, screwing up the US balance of payments.

I have also been told (by a bank manager) that the US banking system itself is very backward compared with most European countries, so that the problems are compounded by the fact that American banks simply do not have as high a level of technology as Europe.

I would guess that the current security fears have made things even worse, and the eP problems may (as artwilliams assumes) be wholly or partly triggered by this. But all countries have the same problem, so the US government has no excuse for being worse than elsewhere.

It is also possible that the crash scared more useless regulations into being (but...ditto).

However the shit state of US banking laws is not a new thing, it predates the twin towers attack, I have been having problems for about 20 years, and when I started working internationally it was already very much an old story.

Worryingly, since so many major banking transactions are beginning to rely on Broadband, and America lags far behind Europe in broadband availability, things are probably going to get worse.

In short, George W. had already mortgaged the US's ass to Asia before the crash, now things are even worse. And if the banking system does not pull itself out of the past and get with the program, America will never be able to get enough money in to pay off it's foreign debts. The result will be galloping inflation, low wages, and mass unemployment. So if Mr Ob does not do something pretty drastic pretty quick, the Mexican border will soon be patrolled by Mexican soldiers, desperately trying to stop US citizens sneaking into Mexico looking for work!

|skyfall|

I'm sort of curious why the US banking is such a problem unless they are also that valuable? Can't we just be ignored and outcasted or are our finances that valuable?

Personally I think our entire country is a whorehouse that everyone wants to invade and rape and give nothing back to

P.S. I also feel this way about the successful famous people here who actually owe this country something due to their success. They seem to be more concerned with PR and doing things for banana republics than helping out and fixing our own problems here.


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