Quote:
Originally Posted by Steve-Paxum
I don't know why you bring up the FDIC insured issue all the time. I am sure Epass also held a lot of their money in an FDIC insured bank and what happened? It only protects you from the bank going belly up and that's it. You make such a big deal about it and portray this as if FDIC will pay people if CashX decided to run away with the money, the government will pay for it. (I am not saying CashX will do so)  |
Well, Steve, but at the same time you or at least your fellow Paxum reps always repeat again and again that you use BMO which is backed by Canadian Government. It's exactly the same, and doesn't mean at all that it's easier for us or even guaranteed to get our money out if you fail.
Which is the reason I don't care what Paxum or CashX reps write about FDIC or Canadian Gov ensured funds, as it's just a help if the bank is shutting down, which wasn't the case with ePass - the vulnerable point are usually the e-wallet systems, not the banks used.
Personally, I chose Paxum because withdraw limits are much higher and I don't like CashX's inactive card fee of $5 per month.