Quote:
Originally Posted by Davy
Is it? So everytime you moved money from your wallet to the virtual visa and vice versa an actual bank transfer was initiated and money was transfered from one bank to another?
I would not be so sure about that.  |
no need for funds to be transferred between banks. a company like epassporte probably has one big company account with a lot of "virtual" pooled accounts (our epass accounts). since this is a "merged" account, there are a lot less funds in reality in their account then all the funds "stored" in people's virtual card, because most of the time people are holding certain amounts on their accounts when not used.
i'm pretty sure vast major part of their funds is already used for generating additional income, and it is probably invested in various funds, realty or stock market.
let's assume epass accounts store 1 million dollar altogether. i bet there are no more than $200k-$300k of real money kept in their account. the rest is already invested. i'm sure they don't make their living from the bank interest and fees only.
they are receiving wire transfers from one bank and only visa services are located in St. Kitts Nevis Anguilla National Bank. this bank but "on hold" their account (virtual visa funds) due to he new visa regulations, but "wallet" money is still available.
i'm pretty sure that's the main reason why their "wallet" money is not frozen and why we will be able to get a hold of it. just my