Banks (some anyway) Wont transfer to Epassporte anymore

[Linkster]

Seems some sponsors are having a little trouble with their banks refusing to send money to Epassporte - the common reason Im hearing today is the new gambling laws in the US

This brings up the question of the recent threads from sponsors that want to charge for sending out checks - and convert you to epassporte to avoid this check charge - will they have to go back to free checks?

[GonZo]

Originally Posted by Linkster

Seems some sponsors are having a little trouble with their banks refusing to send money to Epassporte - the common reason Im hearing today is the new gambling laws in the US

This brings up the question of the recent threads from sponsors that want to charge for sending out checks - and convert you to epassporte to avoid this check charge - will they have to go back to free checks?

Chris Mallick dont care... hes off with the beautiful people.

http://www.avnonline.com/index.php?P...tent_ID=282931

[Linkster]

http://www.greenguysboard.com/board/...ad.php?t=37356

Heres the old thread - sorry GG - gonna revive it

Gonzo - if you dont have something nice to say - say it anyway

[Linkster]

Here's a snippet from one sponsors email today:

it has come to our attention that our bank is no longer allowing wire transfers into E Passporte due to the new online gamming law. It seems it's not just our bank either as we have confirmed this with several other programs already. We are working on alternative solutions. You will definatley get paid, but E Passporte payouts will definatley be late. We can send you out a check or perhaps paypal. We will keep you posted on any and all developments

[Greenguy]

Damn you Linkster! This was one of the topic's I was gonna start a thread on today

My thinking is that non-US sponsors will be fine & since I only use ePass for non-US sponsors that can't send me a check from a US bank, this has no effect on me

I wonder what the Mayor will do if his bank does the same thing?

[KingK]

Originally Posted by Greenie

Damn you Linkster! This was one of the topic's I was gonna start a thread on today

My thinking is that non-US sponsors will be fine & since I only use ePass for non-US sponsors that can't send me a check from a US bank, this has no effect on me

I wonder what the Mayor will do if his bank does the same thing?

Problem is that wired funds have to be routed through a US bank in NY..

There were some problems with our wire this week, getting it out took over 2 hours of fiddling around, as they had changed the info since last time, but we finally got it out and the money has arrived.

[Jim]

It looks like our old bank was ahead of the trend Greenie. They claimed to close our bank account because we were receiving sending and receiving transfers from epassporte. They called it an offshore bank.

[DJilla]

Originally Posted by Linkster

Seems some sponsors are having a little trouble with their banks refusing to send money to Epassporte - the common reason Im hearing today is the new gambling laws in the US

See this is a real fricking problem that I had guessed would occur and a consequence once again of americans sleeping as their rights are chipped away. The right or wrong of the new gambling laws that republicans snuck in at the end of an unrelated bill notwithstanding; this type of behavior from banking institutions is outrageous. The law specifies the restriction on transferring funds used for GAMBLING. That means that the onus on determining the source/use of the funds is on the banks. For a bank to deny you to receive or send funds to any properly credentialed financial institution is an outrage and I don't even think they have the legal authority to do it. My guess is they are just wholesale blocking of sending funds through the likes of e-passporte as a way of avoiding having to meet the legal obligation of determining the purpose/source of the funds and as an anticompetitive means of disrupting a e-finance business model. Bad, bad, bad.

As an aside don't most just use the e-passporte debit card?

[Linkster]

DJilla - unfortunately there are a lot of sponsors that only paytheir affiliates through epassporte - and if their bank will not accept transfers TO epassporte(which started happening this week) then they cant fund the account to pay their affiliates - has nothing to do with what you personally do with your epassporte cards

This comes on the heels of some sponsors requiring affiliates to either choose to be paid by epassporte or we have to pay to have a check sent to us which really makes no sense - if they are a real company which I hope is the case with these programs, then any check fees or handling is all a tax writeoff anyway

[DJilla]

Originally Posted by Linkster

and if their bank will not accept transfers TO epassporte(which started happening this week) then they cant fund the account to pay their affiliates - has nothing to do with what you personally do with your epassporte cards

Errr, right... duh

Still, on principle the banks are way overshooting their authority and I wonder how much of this is really about anti-competitive actions on the part of US big banking. Like Jim mentioned, the idea of having an account closed because it might be "off shore" is just none of their concern period. If there is a problem, all they have to do is make sure their paperwork is in order if the feds want to come sniffing around. IMHO, its not up to them to judge. I won't be surprised if there is a WTO action that e-passporte could bring somewhere in the mix here.

[stuveltje]

mmm maybe thats why i got more checks lately instead of epassporte payment, realy i hate to get checks, it cost me a fortune to cash them at my dutch bank, so the last months i got only maybe 1 check a month and the rest was paid by epassporte, but this month already i recieved 7 checks..........i hate it, but if no other way i probably have to take that deal, my dutch bank already ask 25% procent a check.freaking dutch rats......

[stuveltje]

btw i cant remember i have had one email about the not paying by epasporte anymore, but this post made me think about the checks i suddenly got this month

[babymaker]

i know one sponsor that pays with paypal and its fine, since its not an adult transaction, it comes from the corporate name not cumbuckets.com or whatever lol so most sponsors should be able to do that. I would go for that i don't trust epass...see too much trouble.

[Mr Spock]

My main concern with epassporte is:

Are they a registered bank?
If so where? and by whom are they regulated?

Another question arises why can't sponsors pay funds directly into your bank account? It surely won't be more expensive or administratively complex than processing a cheque or doing an epass transfer. Am I missing something here?

[Tvduijn]

Originally Posted by Mr Spock

My main concern with epassporte is:

Are they a registered bank?
If so where? and by whom are they regulated?

Another question arises why can't sponsors pay funds directly into your bank account? It surely won't be more expensive or administratively complex than processing a cheque or doing an epass transfer. Am I missing something here?

I believe I saw somewhere on my card or so that they are located on the Netherlands Antilles. I dont know if they are regulated by the Dutch central bank since the Antilles have a different currency.

Here's whats on the card:
This card is issued by "St. Kitts-Nevis-Anguilla National Bank Limited" ("Bank") pursuant to a license from Visa International and under a co-branding agreement between ePassporte N.V. and the bank.

So Epassporte is on the Netherlands Antilles and their underlying bank is somewhere else (US?).

[untouchable]

yeah I have read on another forum that they are a doughter company from Belgium bank Fortis.

Dont know if thats true though

[Jim]

Anyone have any idea how long a confidentially agreement lasts?

[Greenguy]

Originally Posted by Jim

Anyone have any idea how long a confidentially agreement lasts?

I'd think that it's null & void since your Christmas 2002 present has not yet arrived

[Jim]

Originally Posted by Greenie

I'd think that it's null & void since your Christmas 2002 present has not yet arrived

I didn't sign it for them. I signed it for EP.
I think I am going to just assume that it is still in effect

[MrMaryLou]

Jim I found this link in google

http://allbusiness.sfgate.com/articl...551&CatID=1775

[bDok]

Originally Posted by Linkster

Seems some sponsors are having a little trouble with their banks refusing to send money to Epassporte - the common reason Im hearing today is the new gambling laws in the US

This brings up the question of the recent threads from sponsors that want to charge for sending out checks - and convert you to epassporte to avoid this check charge - will they have to go back to free checks?

I had this problem when I wanted to get a tommy account awhile ago. I had to go call the bank to explain what I needed the money in there for. The excuse they gave me was that it had to do with internet gambling. They let the transaction go through, but was a pain to have to call and explain myself.

Cheers,
B

[ecchi]

If a sponsor's bank refuses to send to ePasporte and that sponsor wants to go on using ePasporte, then why doesn't the sponsor simply change banks ? Problem solved !

[Linkster]

Incredible Dollars just made an announcement that their bank (same one as Duke I guess) wont transfer to Epass for them

[conny]

Mhhhh realy I hope this is coming out to an good end.......

[Greenguy]

Legit Cash made an announcement yesterday - same problem with Wells Fargo - they are going to set up an account with a new bank that allows transfers to/from ePassporte & payments will go out next week.