The collapse of Epassporte.

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This has been an extremely hot topic recently. For those of you that have not heard...

Dear ePassporte Account Holders,

Please be advised that, at 12:00 PM PDT today, September 2, 2010, we were notified that effective immediately, Visa International has suspended our banking partner?s (St. Kitts Nevis Anguilla National Bank) ePassporte Visa program. The ePassporte e-Wallet program continues to be up and running, except funds cannot be transferred between your Visa Account and your e-Wallet. At this time ePassporte can no longer issue Visa Cards, and the ability for our Account Holders to make point of sale purchases and withdraw funds from ATMs has also been suspended.

At this time we do not know why this drastic action was taken by Visa. To us, it is unconscionable that such action would be taken without the opportunity for ePassporte to fully understand Visa?s reasons and to be able to take all steps necessary to keep our program running the way it has so successfully done for over 7 years. But that is what Visa has done.

As soon as we have more information we will be in contact with you.

In the meantime please be assured that your funds are safe.

We are very sorry for the short notice and apologize for any inconvenience this may cause. The ePassporte team is working diligently to rectify this situation.

We kindly ask you to bear with us while we work through this issue.

Please feel free to contact us via the message center or at our call center, should you have any questions, comments or concerns.

Thank You,


Christopher Mallick
How much did you guys lose?

:(
 
Seems to be a visa issue, see below

Code:
http://news.avn.com/articles/ePassporte-Visa-Situation-Should-be-Resolved-Next-Week-410832.html
 
Visa is not a bank! There's no difference between 'wallet money' and 'virtual visa money'. All of your money is still in ePassporte's bank account!

The money is still in their bank account where it was before the suspension. Visa would never 'block' money like this.


 
Visa is not a bank! There's no difference between 'wallet money' and 'virtual visa money'. All of your money is still in ePassporte's bank account!

The money is still in their bank account where it was before the suspension. Visa would never 'block' money like this.



No one said visa was a bank.

Visa blocked the bank from issuing/using the visa cards which work just any other bank debit card.
 
ePassporte is gonna pay somehow
They DO have the money in the bank, they just need to find another way to pay their customers without VISA
 
they aren't gonna run away with the millions in their bank.. visa just suspended their bank, they will find a way to pay us for sure. Hopefully next week they have some more news for us.
 
Epassporte is a respected company and I am sure that they will solve this problem quickly . They have a lot of people depending on them.
 
they are realy idiots the visa stoped working with them because of Money laundering
 
ePassporte will be back. there is no real concern there.


screenshot.jpg


you think they can walk away from dozens of people like that w money in their system?

no.

:)

the problem is Visa, not ePassporte.
 
Correct me if Im wrong but Epassporte has a bank wire option also. I did sign up last year but never used and remember verifying my bank account. I never got the visa as I felt paypl was easier and cheaper and didnt need another visa.
I think the panic is the fact that if you transferred funds to your visa it is now frozen. That could take some time as they would have to reverse millions of transactions. I do agree it will be resolved asap though, they are just to big to fall.
 
wow , i got an epassporte account especially for the visa function. i hope they can hook us up with some other type of card to use . this is sad
 
ePassporte will be back. there is no real concern there.


you think they can walk away from dozens of people like that w money in their system?

no.

:)

the problem is Visa, not ePassporte.


Ibill did! and they had more and bigger clients than epassporte cold ever hope to!
 
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since I saw that screenshot of 250 000 $ being blocked, I feel way better, compared to my 350$ :)
 
Been saying this for years on adult forums. People operating from a shady bank thats always in the center of shady banking practices WHILE doing things as a company like becoming primary facilitator of illegal offshore gaming for US Citizens will only end in tears for all.

The only surprise to me is that it took this long.

I feel bad for people in other countries who used it to receive affiliate payments but it is no surprise that a company of that size which has proven time and time again to be thoroughly inept and incompetent, with only ONE PERSON (Michael) to reliably deal with support issues has collapsed. There is no excuse to have any money in epass other than the last transfer you received. The guy with the alleged 250k in his epass account is beyond retarded.

And some of you believe they will be back? Really? So many years of total incompetence, their own story right now makes zero sense and does not jive with the facts and you cant wait to trust them with your money again? Wow.
 
Chris is a better film producer than CEO and i'm sure everyone here watched Middlemen. haha - maybe not. Oh... wait. Thats funny. A guy watches his $20,000,000.00 film bomb and weeks later all the cash in his company is frozen? Probably just a coincidence.
 
hot or not they are down and nobody works with them any more
 
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