Quote:
Originally Posted by Steve-Paxum
As far as I know right now people with Epassporte Visas are in a better position getting their money then the people who have funds in the E-Wallet.
|
Not really. Both are as bad:
http://www.epassportelawsuit.com/
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) 
Now most of the webmasters realize that a chance of having the Bank disappearing is dramatically lower then E-Wallet company taking the funds and closing the shop. So with our solution we allow them to withdraw their funds faster, thus reducing their risks. |
Because an extra layer of protection does bring me a piece of mind. Epass only kept Mallick's money in FDIC bank, the rest of us offshore. Please note that I never think you guys will do something that will cause the bank or card to go collapse. I'm more worry with other card services that Choice also issue. What we don't know about them such as what the purpose of their operation like gambling. If MC decided to take away card from Choice due to one of these illegal card operator then that will affect paxum as well. I think the people who work at the Choice will most likely steal the money than paxum do. Once they get lots of funds in not only from paxum but others as well they'll can't help but use it to either spend it for themselves or operate as a Ponzi skeme if they invest the money they recieve and that investment fails. That's what bank do they invest money and give out higher return and especially with offshore they are pressure to give even higher returns. I'm worry that they will either spend/stole or invest the money from difference card company they issued that deposit into the bank, weather, you tell people to widthraw it asap or not it not the point because once the bank it collapse that's it you are doom and people will be scrambling again. How else will they be able to use the card? I hope you understand what I'm saying.
I know some people are concern about cashx fee, but to me it pretty comparable. Beside I'm not going to bitch about something that is $2 more just to widthdraw. I just rather be safe than sorry. Maybe down the road 2 years from now I might sign up but just not now.
Steve, never heard of you until you pop up but I must say you do pop up for the good. You don't sound like some of your other stupid trolling reps just yet and hopefully not. My advice would be don't become them and admit it there are issue with paxum or paxum have limitations and being up front and honest not like the reps trying to make it look like paxum is perfect or skid the truth to make it looks good. Just remember people on this board is not stupid. That is all I'm going to say in this thread. Best of luck to you.