Quote:
Originally Posted by Profits of Doom
If Epass were just going to take the money and run I seriously doubt they would have sent out any wires whatsoever, let alone a six figure one. I honestly believe it will be a couple of month before us Virtual Visa clients see any money, since Paypal can take up to 6 months to refund you when they shut your account down, but I'm hopeful we'll eventually get our money back...
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It is not about them taking the money and running, as a service to customer, they put your money onto virtual visa cards for a fee. Visa cards which they do not own. It is not the people with money in the wallet that is the big deal. It is a huge amount of people who have money on these cards that are fucked and speaking with people in the merchant industry. This is not good and it is near to impossible to get to this money. It is like a gift card from best buy that has expired. Thats it. Its gone. (not stating this is the case, but from what people in this business have told me it is pretty close to it). Visa is cracking down very heavy on these merchants due to PCI compliance. Not sure if anyone here is familiar with this, but if you are found to have been out of compliance when you need to be PCI compliant. You don't get a second chance. They just shut you down. I know this is the case in the U.S. Not sure how it will work with these overseas banks. But the looks of it, this could possibly very well be the case.