Chris

This is seriously getting out of hand. One person says it's their opinion that we are going out of business, and everyone takes it for granted?

Let's put a couple of non-related things to rest:

Romania is part of the European Union. the banking system is regulated by European directives. We also use banks in Germany, Cyprus, which are also part of the EU.We have been using that bank for almost 2 years now, and the amount of problems there has been minimal compared to every other bank we've used, including US and Canadian banks. Every wire sent there was credited within a couple of days at most, except when information was missing.

We have used different banks over time, but this is normal. We are still registered in Canada, still active in Canada, still audited by the Canadian government, so we have to follow the rules according to what the Canadian government says. We are allowed to have accounts across the world, there is no rule against that.

The ownership issue has been brought up over and over and over. Why is this even still being asked? Everyone on GFY knows who the owner is for every similar program out there. Can we please get over this..

Now, back to the issue at hand.

Every program was emailed about the change in wire instructions. Our 'add funds by wire transfer' also shows the same information. This particular program ignored our instructions and sent funds to a bank account that we no longer work with, and claims we 'stole' their funds. Does anyone here actually think that we control funds sent to an account that is closed?

We have been in contact with the bank where the funds were sent, and their service is sluggish, which was the reason why we chose to distance ourselves from them in the first place. We had too many complaints about wires being delayed, and in order to provide a better service, we dropped that account. The bank was not happy about the drop in activity, and we agreed to completely close the account. Now we are at their mercy, and I think it's understandable that they aren't in a hurry.

We agree that the former bank is taking too long to react and we will guarantee the fact that the funds will be returned. We will continue to request the wire return, and we will provide the confirmation as soon as we get it. On his own end, the sender should recall the funds, and that could solve the issue.

We have always advised our clients to withdraw their funds right away if they didn't feel secure. We also encourage our clients to get a Paxum Mastercard so they can access those funds instantly. That has not changed. We have more funds in our accounts than the total sum of the client's holdings, as we always did. If every penny is withdrawn tomorrow by every client, there is no problem on our end.

According to some people we have been closing down since day 1. Strangely there are quite a few freshly registered GFY members that don't use our services but know we're done for. It really comes as a surprise for us. We've weathered this sort of storm before, and those who have nothing better to do than start this sort of rumor will be at it again soon.