One thing I learned from Epass & Paypal and will keep in mind with Payoneer & Paxum...
 

whenever i received money on epass or paypal in the past, i withdrew the money as quick as i could. this brought me through blocked papyal accounts and made me lose $12.40 on epass.

both payoneer and paxum look like something i could for my business and i opened accounts on both. but i will stick to my rule above and NOT keep any money in them. and i think as long as you stick to this rule your possible loss is bearable. besides that i suggest getting a real bank account to those who don't have one yet.

Good tip :thumbsup

Word...especially with the Epass stuff happening lately, it's more clear than ever that these places are definitely NOT banks and should never be treated as such. The only time I ever keep money in PayPal even is if I know I'll be using it in the next week.

if there's no money in the account, there's nothing to lose :2 cents:

Of course, money from online payment methods has to be transferred to accounts in major banks - these are the safest accounts.

I only left money in Epass to pay for hosting, or if there was a script/service I wanted to buy. I've lost $204, but only because my account was blocked the day before my hosting bill was due.

The week before, though, there were a few scripts I was considering buying. I ultimately decided to put the purchases off and removed the cash, so I got a bit of a break there.

I was on my way out to withdraw from epass as I also made it a habit of not keeping much in there.. logged into my account to transfer money from the wallet to the card.. And there was the message... Great timing for me.

here's another good thing to learn from this: don't make your business depend on services like this - pay your hosting and domains with regular creditcards attached to your bank account.

Or use a real credit card (visa, mastercard, AE or discover) and pay the balance when due from your checking account :)

yeah, ok, i forgot that things work differently in the US. here in Europe they usually take the money you spent with your creditcard automatically from your bank (checking) account 30 days later. no choice involved

It can be tricky to never keep cash in these accounts if you're withdrawing in euros. You have to know how much to pull based on that day's exchange rate.

And these epass alternatives charge you for checking your balance at the ATM and also charge you for declined transactions lol.

Sound advice :thumbsup

You think the guys from the new ibill will wait a few years and then start a new division called epassport?

honestly - i never paid attention to the exchange rate. the risk of losing my money compared to losing or winning a few dollars always appeared more crucial to me.

and with epass i always went to the website first and checked how much money i can withdraw - so fees for checking balance or declined transactions could never happen to me

Will be my strategy from now on. :thumbsup

100% agree!!!

I was going to post "captain obvious" pic, but I guess your strategy wasn't so obvious to many epass users :helpme

trust no one

yes this is what i do and I use wire transfer from clients to get paid. I do put $$ in papal on occasion to pay model referrals though not much at a time. do you think epass is done? I sure hate to see people lose coinage :(

Agreed :thumbsup

many of us had money sitting in epassporte to do business with one another...

Only a Fool would leave more than a few dollars in an online account that YOU HAVE NO CONTROL over... It's not like a bank that is insured and you can walk into... People that lost money with epass just got scammed.. Wake up, Live and Learn people.. You were outsmarted...

Paxum doesn't benefit at all when you keep money in Paxum. We make money only when you withdraw it, so we would even encourage people to take money out as soon as they can.
We are not investing money of Paxum users in some risky ventures so no need for us to keep millions of dollars in Paxum accounts.

Withdrew money as quick as you could. Keep money in your socks! ;)

Do you have a "real" US bank account, MaDalton?

i always clear off my balances leaving just enough to cover the next months hosting bill.

best tip ever, clean the money out!

Do I need an actual buisness account in order to cash cheques (from sponsors) regularly? I have two current accounts with High Street Banks here in the UK and since epass died I've been cashing them there. Someone has told me that I could have my current account closed if I'm using it for buisness, but I don't want the hassle and fees of setting up a buisness account.

no - but a real czech bank account - never had any problems sending or receiving money. only ACH does not work

I just send you a wire too :winkwink:
As easy as epass; filled in the amount, click on your name and press send.
Voila!

extremely good advice.

i never kept money on epass but i am still dreaming at my $19 :)

and surprisingly it's already there - same day - thanks a lot! :thumbsup :winkwink:

New banking rules set by EU goverments, banks can no longer "stall" wires. Finally.
They need to be instant within a country or within 2 days in EU I recall :winkwink:
Politicians are now focussed on bankers integrity since the "thing" with their subprime loans fucking up the economy.

I always remove money immediately from epass/paypal. I got an ACH withdrawal from VV in Epass about an hour before shit went down. I withdrew the money about 3 minutes after it was received. I only lost $3. I can live with that.