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-   Fucking Around & Business Discussion (https://gfy.com/forumdisplay.php?f=26)
-   -   Statement from ePassporte. Please Read (https://gfy.com/showthread.php?t=986256)

Barry-xlovecam 09-09-2010 02:09 PM
ACH is an acronym for Automated Clearing House

It is a function of the National Automated Clearing House Association (NACHA) the US Federal Reserve Bank.

Direct deposit to your checking account is one example.

ACH Wikipedia

kaktusan 09-09-2010 02:09 PM
OK, did anyone got their documents reviewed?

I am waiting for 2 days for review and nothing yet...

Alprazolam 09-09-2010 02:10 PM
anyone know where i can get an account? i have a design job that i'm doing and i need to take monies via epassporte. how long does it take to get an account there?

wyldblyss 09-09-2010 02:10 PM
Sorry but that *statement* is not only very poorly written but is one of the biggest pieces of condescending doublespeak with a load of crap on top that I have ever read.

Shap 09-09-2010 02:11 PM
Quote:
Originally Posted by kaktusan (Post 17485553)
OK, did anyone got their documents reviewed?

I am waiting for 2 days for review and nothing yet...
I sent in documents to be reviewed last friday. Everything was approved yesterday.

anexsia 09-09-2010 02:11 PM
Quote:
Originally Posted by Jdoughs (Post 17485524)
You asking him to be a martyr for you..lol get real.
Not a martyr, an employee who will take pride in his job is more like it.

FrankHardcore 09-09-2010 02:12 PM
I'm not
 
Quote:
Originally Posted by SAC (Post 17485526)
good luck to those with 1000s stuck in their epassporte accounts...I wouldn't be holding my breath...gl


That me you are talking about and I consider them lost. But would like to meet of your enemies in a dark alley.

It funny many things comes to reality when thinking enough about it....

mrsmut 09-09-2010 02:12 PM
Reading the statement i understand you are giving our detailes (name, address, etc) to SKNA, with our amounts, and will be SKNA who pays us in some way, not epassporte.

This reading has good and bad sides.

good: The bank has our money and is taking some steps to guarantee our money is not lost

bad: the bank doesn't trust on you to return the money and want to do it themselves, and doesn't want to continue working with you, SKNA doesn't trust epassporte.

With these readings, money in VV may be safer than money in eWallet.

If SKNA is reading this, i'm european and would like to get a resonable fee for a bank transfer, don't want you to try to profit with huge transfer fees por epassporte users

hotcontent 09-09-2010 02:13 PM
Quote:
Originally Posted by CaptainHowdy (Post 17484810)
I love ePassporte...
¡mamá! :)

AsianDivaGirlsWebDude 09-09-2010 02:14 PM
Does "Funds in motion" = spin cycle? :winkwink:

http://keetsa.com/blog/wp-content/up...eyInWasher.jpg

Nice spin control...

http://multimedia.heraldinteractive....l_04272010.jpg

ADG

gumdrop 09-09-2010 02:17 PM
Quote:
Originally Posted by FrankHardcore (Post 17485533)
In russia you can have a man killed for less then 20 bucks.
According to his movie Middle Men he knows a few Russians as well....:winkwink:

Denny 09-09-2010 02:17 PM
Quote:
Originally Posted by Atticus (Post 17485530)
Playing detective here but....

From the previous posts Michael O has made it appeared that English was not his first language. Numerous grammatical mistakes etc.

Now this statement comes from Michael O's account and is filled with horrible English but signed by Chris Mallick.

Looks like someone just attached their name (or had their name attached) to a pre-written statement.
:2 cents::2 cents:

zeuse 09-09-2010 02:17 PM
Last time i visited a bank in the carribean there was a guy sitting on the steps with a pump action shotgun. Good luck arguing the toss in there.

PornMD 09-09-2010 02:17 PM
Quote:
Originally Posted by garce (Post 17485471)
What a clusterfuck. Out of all the people, entities, and businesses that have created or are involved with this current situation, Michael is the last one who deserves this abuse.

And yet he takes it, and tries to remain calm and professional. Personally, I could not deal with this pressure in a civilized manner.

I hate to come across as an ass-kisser, but it pains me to see one of the most honest (my perception, due to having dealt with Michael occasionaly for about ten years or so) and hard working men in this business treated this way.
I hope you're talking about Michael being abused by his employer, because that's exactly what this is.

If Visa dug Epassporte's grave, CM just pushed Epassporte into it and covered it with this statement. People who are actually saying they would continue using Epassporte if they somehow weathered this storm are asking to be taken for a fool. Michael is not the bad guy - he's the pawn of his employer. You all realize Michael has said all this week that it would be resolved this week, and the only reason someone like him would SAY something like that is because his employer told him such. His employer is abusing his good rapport with this community to death.

Chris Mallick got a taste of Hollywood, and with this statement has brought Hollywood to all of you. Red flags surrounded by a bunch of empty words and some of you are still eating it up. Prior to this statement, I thought that perhaps people would still get their VV funds back eventually but now I wouldn't put money on it (no pun intended). Something is seriously wrong and they're not telling you all what it is.

That's even aside from the wire situation on the Wallet funds, which WOULD be serious except given some people's ACHs have worked, I kind of doubt those funds are frozen.

AlexUA 09-09-2010 02:18 PM
http://s002.radikal.ru/i198/1009/a3/e9575b7211a6.jpg

sologirlcontent 09-09-2010 02:18 PM
Quote:
Originally Posted by Atticus (Post 17485530)
Playing detective here but....

From the previous posts Michael O has made it appeared that English was not his first language. Numerous grammatical mistakes etc.

Now this statement comes from Michael O's account and is filled with horrible English but signed by Chris Mallick.

Looks like someone just attached their name (or had their name attached) to a pre-written statement.
:thumbsup:thumbsup u noticed that too

Domain Broker 09-09-2010 02:18 PM
Quote:
Originally Posted by mrsmut (Post 17485563)

If SKNA is reading this,
:1orglaugh:1orglaugh:1orglaugh:1orglaugh:1orglaugh

baddog 09-09-2010 02:24 PM
Quote:
Originally Posted by Jack Sparrow (Post 17485501)
Why do you manually need to review them?
Oh man. :helpme

Phoenix66 09-09-2010 02:24 PM
Quote:
Originally Posted by Jack Sparrow (Post 17485501)
Why do you manually need to review them?
In all banks I've used they processed swift wires manually. You only make an order through the interface and then wait until they execute it manually. That's why wires normally pass through only at business days. Most banks clearly say that in wire order form.

So, nothing unusual in this. Plus, I suppose that in case of Epass they have a two-stage process. First they review wire orders from the clients and then make orders to the bank where bank employees also execute them manually.

With a big amount of wires being requested I do not find it surprising they are moving slow. Though I'm also concerned if they are sending them at all. From another hand - I see no reason for Michael to say they are sending them when they are not. Would be much simplier just to say the money are frozen if they really are.

My real concern is that epass will be killed by all this before I withdraw all my money. Big guys probably will get theirs if yet have not. And they do not write on forums.

Alprazolam 09-09-2010 02:24 PM
anyone get wires yet?

digi 09-09-2010 02:26 PM
has anyone tried to contact SKNA directly about withdrawing funds without epassporte?

chronig 09-09-2010 02:27 PM
Quote:
Originally Posted by Atticus (Post 17485530)
Playing detective here but....

From the previous posts Michael O has made it appeared that English was not his first language. Numerous grammatical mistakes etc.

Now this statement comes from Michael O's account and is filled with horrible English but signed by Chris Mallick.

Looks like someone just attached their name (or had their name attached) to a pre-written statement.
Nothing to worry about Sir. That's just the new CEO of ePassporte speaking. Abullah Muhundah Rakishi - the 4th Prince of Nigeria. Your funds are safe. (He's royalty).

wyldblyss 09-09-2010 02:28 PM
Quote:
Originally Posted by Alprazolam (Post 17485603)
anyone get wires yet?
From all the reading I have done, everyone is saying no one has received a wire. Some people have reported getting ACH and funds sent to their credit cards.

Since Mr. Mallick has stated his expenses are enormous and he has no money coming in either, I wouldn't count on getting a wire anytime soon.

greg80 09-09-2010 02:29 PM
This is no news. Would be great to at least hear when the solution will come. I am sure that epass needs to know what to do to get the cards back up after a full week of talks.

gumdrop 09-09-2010 02:29 PM
Quote:
Originally Posted by chronig (Post 17485614)
Nothing to worry about Sir. That's just the new CEO of ePassporte speaking. Abullah Muhundah Rakishi - the 4th Prince of Nigeria. Your funds are safe. (He's royalty).
They are always doctors so it should be Dr. Abullah Muhundah Rakishi

wyldblyss 09-09-2010 02:30 PM
Quote:
Originally Posted by digi (Post 17485609)
has anyone tried to contact SKNA directly about withdrawing funds without epassporte?
I did. I was abruptly told it was not their problem, that even if Visa said we could get money from them, we can't. They told me to contact epassporte.

gumdrop 09-09-2010 02:31 PM
Quote:
Originally Posted by digi (Post 17485609)
has anyone tried to contact SKNA directly about withdrawing funds without epassporte?
Yes there are reports of people actually contacting St. Kitt's but have been brushed off or hung up on.

chronig 09-09-2010 02:36 PM
Quote:
Originally Posted by gumdrop (Post 17485620)
They are always doctors so it should be Dr. Abullah Muhundah Rakishi
http://i52.tinypic.com/2ilo3yp.jpg

Jarmusch 09-09-2010 02:37 PM
Quote:
Originally Posted by USA (Post 17485133)
I want my money!
http://i.imagehost.org/0839/gfellas4.jpg

AzteK 09-09-2010 02:38 PM
Quote:
Originally Posted by Captcha (Post 17485399)
Its Lawyer time
Count me in.

Wiredoctor 09-09-2010 02:41 PM
Quote:
Originally Posted by Davy (Post 17484833)
Translation: we have absolutely no news.
Exactly. There was absolutely NO news given at all, just more of the same side stepping dancing.:2 cents::2 cents:

k0nr4d 09-09-2010 02:41 PM
I doubt epassporte makes its money on the little fees and whatnot. 50 cents per transfer? A few bucks for card renewals? How many transactions can possible go through their system a day?

My opinion is Epass likely keeps a certain % reserve to pay out ATMs, and invests the rest like any other bank or pseudo bank. Invests into currencies, companies (like oxymoron productions for instance?). The reserves probably fell below this certain %, and the bank requested from Visa that it shut down it's visa cards.

Why can't we transfer from the VV to the Wallet? Visa says that epass and SKNA has control over the funds, not them, so it's not visa locking it. If the funds from VV and Wallet are stored in two different banks, then there is no chance that they are physically moved when you do a transfer because they would get eaten alive with wire fees. It is far more likely that the money is moved around a database, and batch wires are done once or even a couple of times a day. This suggests SKNA has a lock on the VV account to make sure the balance doesn't go further below the required %.

All in all, this is a fucked up situation and I would be weary even if you do get wires and ach transfers coming through. I say if you can get your money out, get it all out ASAP. With the cards not working, there is little reason for anyone to load their accounts and the amount of money circulating in the system between those still accepting this is finite.

This is all of course my speculation with nothing to back it up other then my own logic, but at least it gives the people refreshing the epass threads something to read and gets some stuff off my mind.

Unlimited 09-09-2010 02:43 PM
http://www.synapsepc.com/Hosting/Ima...My%20Money.jpg

chronig 09-09-2010 02:44 PM
Quote:
Originally Posted by k0nr4d (Post 17485668)
I doubt epassporte makes its money on the little fees and whatnot. 50 cents per transfer? A few bucks for card renewals? How many transactions can possible go through their system a day?

My opinion is Epass likely keeps a certain % reserve to pay out ATMs, and invests the rest like any other bank or pseudo bank. Invests into currencies, companies (like oxymoron productions for instance?). The reserves probably fell below this certain %, and the bank requested from Visa that it shut down it's visa cards.

Why can't we transfer from the VV to the Wallet? Visa says that epass and SKNA has control over the funds, not them, so it's not visa locking it. If the funds from VV and Wallet are stored in two different banks, then there is no chance that they are physically moved when you do a transfer because they would get eaten alive with wire fees. It is far more likely that the money is moved around a database, and batch wires are done once or even a couple of times a day. This suggests SKNA has a lock on the VV account to make sure the balance doesn't go further below the required %.

All in all, this is a fucked up situation and I would be weary even if you do get wires and ach transfers coming through. I say if you can get your money out, get it all out ASAP. With the cards not working, there is little reason for anyone to load their accounts and the amount of money circulating in the system between those still accepting this is finite.

This is all of course my speculation with nothing to back it up other then my own logic, but at least it gives the people refreshing the epass threads something to read and gets some stuff off my mind.
Just listen you, the funds are in motion, ok? Once they settle down out of orbit - all is well. This is my final statment.

CrazyAL 09-09-2010 02:44 PM
Is there a limit on how much you can transfer via credit card? I know its prob been asked million times but to lazy to search for it.

czarina 09-09-2010 02:44 PM
hoping this gets solved soon. I have some money stuck in there, and lots of my clients have large sums stuck as well, so it affects my work volume.

gumdrop 09-09-2010 02:45 PM
Quote:
Originally Posted by k0nr4d (Post 17485668)
I doubt epassporte makes its money on the little fees and whatnot. 50 cents per transfer? A few bucks for card renewals? How many transactions can possible go through their system a day?

My opinion is Epass likely keeps a certain % reserve to pay out ATMs, and invests the rest like any other bank or pseudo bank. Invests into currencies, companies (like oxymoron productions for instance?). The reserves probably fell below this certain %, and the bank requested from Visa that it shut down it's visa cards.

Why can't we transfer from the VV to the Wallet? Visa says that epass and SKNA has control over the funds, not them, so it's not visa locking it. If the funds from VV and Wallet are stored in two different banks, then there is no chance that they are physically moved when you do a transfer because they would get eaten alive with wire fees. It is far more likely that the money is moved around a database, and batch wires are done once or even a couple of times a day. This suggests SKNA has a lock on the VV account to make sure the balance doesn't go further below the required %.

All in all, this is a fucked up situation and I would be weary even if you do get wires and ach transfers coming through. I say if you can get your money out, get it all out ASAP. With the cards not working, there is little reason for anyone to load their accounts and the amount of money circulating in the system between those still accepting this is finite.

This is all of course my speculation with nothing to back it up other then my own logic, but at least it gives the people refreshing the epass threads something to read and gets some stuff off my mind.
I am leaning more to this explanation. It's Casino Royale all over again.

Ethersync 09-09-2010 02:45 PM
Quote:
Originally Posted by Michael O (Post 17484796)
We at ePassporte are as distressed as you, our valued cardholders, over an action that we did not see coming and as of today we still have received no good basis for it.

First, be assured that your funds are fully safe and protected. You are owed that and it will be fulfilled. The funds are secure.

Second, ePassporte is working with the St. Kitts bank to work out how all payments will be made and when. The details are complicated, because there are funds in motion and where and when they settle requires us to all be careful that we fully and properly account for all those funds and their rightful owner. This issue stems from our processing and reporting ability through the Visa system and their processor.

Third, ePassporte's most important asset has always been our account holder's. We are not going to undermine that asset by treating cardholders in any manner other than the best we can.

Most of us have had the unfortunate experience of dealing with banks and card associations that simply ?cut us off? and did not pay us. Those actions were limited to card acquiring (merchant accounts), not card issuing, which is what we do. We can all take some comfort in the fact that this situation is not anything like the acquiring side of the business.

We all fully understand that communication to our cardholders is critical. However, it does not help any of us if we are constantly updating you on the basis of the calls that take place almost hourly. It seems to us that giving you facts, based on agreements we are working on is the best form of communication. This is what we will be doing. When we know something, that is a fact, we will report it, quickly. Our staff is all working diligently to resolve these issues and the many moving and complicated parts of getting the funds returned. Therefore, please do not mistake our silence as ?hiding?, ?avoiding? or ?stringing you along?. We too have funds that are stuck in the system, as well as massive costs of operation without any income.

Rest assured that when we know, you will know and you will all be satisfied with the results. Again, your money is safe.

For those of you that have been in the industry for many years, I hope you will recall that I have a very strong track record of fighting for the rights of webmasters, program sponsors, billing companies, merchants and the industry; that dedication continues.

Thanks you for your understanding in this difficult time and for your support over the last 8 years of our operations.

Chris Mallick
For ePassporte
Obviously Chris knows what the problem is and why the cards were cut off. The only reason I can think of for not coming out in saying it is that it is such a colossal fuck-up on ePassporte's part that stating publicly what happened would open them up to getting sued. AVN or Xbiz needs to contact someone at the bank in St. Kitts and get their side of the story.

AlexUA 09-09-2010 02:45 PM
http://s50.radikal.ru/i127/1009/91/3c8aceab88a7.jpg

Beerbar 09-09-2010 02:47 PM
a Chapter 11 might be coming


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