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You are right not to trust a pseudo bank, but that's not what we work with and not how we function. We are very highly regulated, which you can't say about ePass from all the information I have heard and gathered.
We are monitored very closely by the US government and follow each of their financial guidelines including KYC (Know Your Customer), BSA (Bank Secrecy Act), AML (Anti-Money Laundering) and OFAC (Office of Foreign Assets Control). We are checked on a regular basis (we have yearly screenings, but much more than that) to make sure we comply with everything.
It means we're paying a lot more money to make sure that your money is safe, but what we gain is the trust of over 1400+ mainstream and non-mainstream partners, including Fortune 100 companies (and more Fortune 500 companies) that wouldn't be associated with psuedo banks and companies that weren't trustworthy.
That said, I think you are doing the right thing. Ultimately, you need to receive your money in the way that is most comfortable for you.
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Talia Klein
Director of Community at Payoneer
Email [email protected]
Email me about becoming a Payoneer sponsor
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