Can St Kitts still trade / invest our frozen money...?
 

Can St Kitts trade / invest our money if we do not have access to it? Isn't there some banking law that says that the bank cannot profit from client's funds if the clients do not have access to those funds?

..ie.. frozen funds cannot be invested?

It should be easy to see if St Kitts Bank reduced it's daily investments at the same time our funds were frozen. If not, they may still be profiting from our frozen funds.

frozen funds are not in motion.


~Ray

you should be praying that you will get ANY $$ back, now you want interest too? :1orglaugh :1orglaugh

Since they are the ones that froze them I think they can do about anything with them.

We have a winner! :1orglaugh

who knows what banking "laws" an offshore haven and third world island of 30,000 people have.

They are doing that now to try bailout TCI Bank:

http://www.tcweeklynews.com/ecic-vow...sh-p2122-1.htm

Would they be working on a *technical* solution if the money was not available?

An American bank would need to hold a certain percentage of all deposits in reserves, but I think there is some misconception here. There isn't a big vault in the back of the bank holding cash. Once you deposit, "your money" is simply a number in some computers. It is not hard cash. The minute you deposit, that money is gone on to other things... investments, loans, whatever.

So yes, they have spent every penny of "your money" And most likely have already made profit from it. That's what a bank does.

we will get candies :D

Most likely suckers.....:2 cents:

Banking law doesn't apply to tiny islands in the middle of nowhere.

What type of candies?

Candies are cool.

Unfortunately these are the type of questions people should have been asking before using them. I'm guessing the laws are probably quite bit more lax over there although I would think there might still be some international guidelines which apply. Much of it might go out the window in cases where the institution is near insolvency, however.

Well, all the alternatives to epassporte are run like this, no?
Or is there a solid us-based company like epassporte that does all its business from the US?

Maybe they should invest in their own security.

Sure they do. Big multinationals invest billions in offshore havens. If they lose a few billion, they just say "mm chalk it up as a loss!".

What money? There is no money, there's just a number in a computer.

http://moderateminimal.files.wordpre...ler_durden.jpg

What I meant was... since our funds are frozen by the bank... then the bank should not be able to trade/invest our funds until they unfreeze them.

I mean, How can the bank take our money, invest and profit from it while not allowing account holders (us) access to it? Seems illegal or at least unethical.

who knows what the laws are? what the capital requirements are? it's a shitbox bank on a tiny island. they will protect their own, not a bunch of powerless porn webmasters scattered across the globe ...

there's no safety in numbers

The bank spent "your money" long before anything was frozen. The minute it's in, it's gone.

Even American / Western banks are basically 'legal' Ponzi Schemes..............

when paypal froze funds, they paid it back with interest.

Dont really think its fair to compare Paypal to ePass (fair to Paypal of course).

The past weeks just shed some more light on the shadiness behind this sort of service and well...if we think about it, I'm sure everybody can easily can think of 10 good reasons ePass shouldn't be active it is..

Disclamer: Have (and still have a little hope to get the) money stuck on my VV.. :2 cents:

we have a decent amount of power against warning others about using shady programs. Maybe St Kitts can't handle the negative assult on their rep? We could at least tell the truth and make them a joke to use. I believe it's called "search engine fodder".

no frozen funds there. the epass funds are all goes for mallick name or account. he did withdraw the half of it one week before the epass went down.

and on the 15th, he withdraw the remaining 95%, and only 5% left

where you find that???

are you joking or what!!

I doubt there's a separate pile of cash with "Epassporte money, do not touch" on it, no. Just like any money in any account the bank will tell you the money is all there, and it is, just not if everyone in the bank wants to withdraw at once, it's called a run on the bank and then they're in trouble.

You really gotta be fucking kidding me - dude you are talking about a country that SELLS citizenships and passports !

this is where the money is stored dude.

http://www.sknvibes.com/News/Gfxz/Na...s%20branch.jpg

you think they care?

I know...maybe time to start a bank, eh guvna?