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-   -   Choice bank out of business? (https://gfy.com/showthread.php?t=1297643)

Denny 04-11-2018 07:22 AM

Quote:

Originally Posted by SleepWalker (Post 22251909)
If BongaCash really removed Paxum as a payment option because Paxum is out of its own branded debit card for about a month, it shows they don't understand a thing and probably don't deserve to get your biz.

Yep, exactly.

NickBaer 04-11-2018 07:51 AM

No Messages! Indeed!

http://dudelodge.com/FirstChoicePayM.jpg

NickBaer 04-11-2018 07:58 AM

Quote:

Originally Posted by Denny (Post 22251919)
Yep, exactly.

At least Paxum started the process prior to Monday.

VamosNicholas 04-11-2018 09:11 AM

Quote:

Originally Posted by SNRProductions (Post 22251620)
This is why crypto needs more adoption. Fuck banks.

+1 Cam model linked me the Xbiz article today, and this was one of the first things I said to her. Banks can be shady, reckless, and irresponsible. I actually suggested the idea of setting up a crypto wallert to her before, but she didn't seem to receptive. Maybe did not understand, I don't know.

I'm trying to help her figure things out, but I don't know if her card is connected to FCP or not. Hopefully this ends well for the models...but at the moment I'm reminded of Full Tilt Poker. Was a few years before some players saw any of their money. Don't want that to happen to her or anyone else.

jscott 04-11-2018 09:54 AM

Quote:

Originally Posted by SNRProductions (Post 22251620)
This is why crypto needs more adoption. Fuck banks.

Agreed. First Paxum losing US citizens (personal acct), and now FCP and everyone with Choice bank

really this industry heading back to expensive/slow wires and SUPER slow and retarded paper checks? terrible

Sponsors, please please work on crypto payouts, this is getting ridiculous :Oh crap

pimpmaster9000 04-11-2018 10:02 AM

so streamate pulled the plug on FC payouts today...now I am going to have to cash in those retarded checks LOL...oh well...

magneto664 04-11-2018 10:08 AM

Quote:

Originally Posted by crucifissio (Post 22252024)
going to have to cash in those retarded checks LOL...oh well...

better check than an empty pocket.

biiiglia 04-11-2018 11:32 AM

Quote:

Originally Posted by topadult (Post 22251265)
Glad that you are here.
Would you please answer some questions about current FCP situation?
- When will FCP be closed completely?
- Can we use ATM card to make payment online and withdraw fund via ATM? If yes, for how long?
- If fund in ATM depletes, will money be transferred from that FCP account owner to ATM card like before so that we can withdraw more?
Thanks for help.

Just tried it by myself. Withdrawing via ATM still works. But they don't load the card anymore to $10000. I see a red number on the "debits" side with transaction type "Load to card", but nothing on the "credits" side.

ZENRA 04-11-2018 01:19 PM

Quote:

Originally Posted by ilnjscb (Post 22251542)
Ruth and Dan are models of probity as professionals and we are lucky to have them in this industry. Thanks for the quick responses and the transparency.


Agreed. While I don't currently use Paxum, I do respect that Ruth weathers the storm of vitriol often thrown her company's way with these types of replies.

dillfly2000 04-11-2018 01:49 PM

Kick in the balls.

Only gonna promote sites that do check, direct deposit to Canada or PayPal. Seems to be the safest route.

I don't think I'm gonna stick with Paxum either, all these companies seems to be getting this shit end of the stick. Sad stuff.

jscott 04-11-2018 01:59 PM

Quote:

Originally Posted by SNRProductions (Post 22251620)
This is why crypto needs more adoption. Fuck banks.

Btw, mad props to Webclicks for offering Bitcoin (along with Paypal, ePayments, Webmoney, and lots more) :thumbsup

About 30% of my sponsors I will be unable to receive payments from now on. They're "on hold" until something is figured out about all this :disgust

NickBaer 04-11-2018 02:51 PM

Chaturbate stepped up to the plate.

http://dudelodge.com/images/ChaturbateFCP.png

NickBaer 04-11-2018 02:55 PM

BitCoin?? Maybe next year...

http://dudelodge.com/BitCoin20180411.png

I still have some. Not going to let them go, but, don't want to buy more for now.

glocks 04-11-2018 03:00 PM

Can we have some sponsors here telling us what new payout options they will introduce? I honestly prefer the good old check.

InfoGuy 04-11-2018 05:21 PM

Quote:

Originally Posted by Holy Damage (Post 22251389)
For now

I remember epass days...
"Just a momentary issue"

They meant to say "Just a monetary issue".

ErectMedia 04-11-2018 07:12 PM

Quote:

Originally Posted by crucifissio (Post 22252024)
so streamate pulled the plug on FC payouts today...now I am going to have to cash in those retarded checks LOL...oh well...

I actually prefer it. Mobile deposit and toss the check. Been doing Streamate for years on check.

All of my adult income today comes in Check or PayPal.

Have one minor thing few hundred a month I was using Payza for, they shut US accounts down, ordered first choice card and was shocked card arrived at my door within days but useless now as will never have used it, guess I'll be check, paypal and maybe wire as tired of signing up for alternate accounts that don't last.

Axeman 04-11-2018 08:13 PM

Quote:

Originally Posted by ErectMedia (Post 22252281)
I actually prefer it. Mobile deposit and toss the check. Been doing Streamate for years on check.

All of my adult income today comes in Check or PayPal.

Have one minor thing few hundred a month I was using Payza for, they shut US accounts down, ordered first choice card and was shocked card arrived at my door within days but useless now as will never have used it, guess I'll be check, paypal and maybe wire as tired of signing up for alternate accounts that don't last.

USA/Canada is still easy for checks. Though a lot of Euro affiliates and partners seem to have issues even cashing checks, and if they do, they get huge fees and long holds for them to clear. So I do understand its a pain for them having to choose that method, or wait for a higher min and pay the International wire fees.

SleepWalker 04-11-2018 08:22 PM

Quote:

Originally Posted by Axeman (Post 22252292)
USA/Canada is still easy for checks. Though a lot of Euro affiliates and partners seem to have issues even cashing checks, and if they do, they get huge fees and long holds for them to clear. So I do understand its a pain for them having to choose that method, or wait for a higher min and pay the International wire fees.

I wonder why Paxum doesn't bring back the withdrawal by check option. Banks don't ask a bunch of question when you deposit a large check but they often do when you get a large wire.

rowan 04-11-2018 09:17 PM

Quote:

Originally Posted by SleepWalker (Post 22252299)
I wonder why Paxum doesn't bring back the withdrawal by check option. Banks don't ask a bunch of question when you deposit a large check but they often do when you get a large wire.

<insert joke about checks stuck in "Printing" status here>

xxx6live 04-11-2018 09:38 PM

Is Paxum ok for wire transfers/EFT?

Check is not an option here, did not see any since the 1990's. My bank is internet only in addition, no physical offices and nowhere to deposit checks.

rowan 04-11-2018 09:52 PM

Quote:

Originally Posted by xxx6live (Post 22252322)
Is Paxum ok for wire transfers/EFT?

Check is not an option here, did not see any since the 1990's. My bank is internet only in addition, no physical offices and nowhere to deposit checks.

The first and only wire I ever received from Paxum (on the way out) seems to have come from a third party company "DEK-CO (UK) LTD." So even wires are done via another company rather than directly.

erichon 04-11-2018 09:58 PM

Just tried withdraw at ATM in Europe at different ATMs, but no withdrawal possible.

Denny 04-11-2018 10:50 PM

Quote:

Originally Posted by Axeman (Post 22252292)
USA/Canada is still easy for checks. Though a lot of Euro affiliates and partners seem to have issues even cashing checks, and if they do, they get huge fees and long holds for them to clear. So I do understand its a pain for them having to choose that method, or wait for a higher min and pay the International wire fees.

Yep, this is correct.

NickBaer 04-12-2018 01:29 AM

I'm surprised that CCBill is not stepping in to be a viable option for mass payouts here.

InfoGuy 04-12-2018 02:47 AM

Quote:

Originally Posted by Konda (Post 22251077)
It's from an email Choice sent to all their clients, so I guess they have an account there, or someone forwarded it to them.

This is the full email

Quote:

Dear Accountholder,

Due to recent developments involving the prepaid card component of our international banking business, Choice Bank Ltd. (“the Bank”) has been forced into a temporary liquidity constrained position.

With a view to enable the Bank to manage cash flows in an orderly fashion to work through the current liquidity situation, in the interest of depositors and other creditors as a whole, the Bank has taken the decision in its view as a matter of necessity, with immediate effect, to temporarily suspend all withdrawals from deposit accounts with the Bank and other outbound payment activities (save for payment of employees, suppliers essential for core operations, consultants and advisers) until the Bank and/or its relevant regulatory authorities (as the case may be) are satisfied that such suspension is no longer required.

The Bank maintains a strong balance sheet with total equity including paid up capital and accumulated retained earnings in excess of US$26 million, a most recent reported regulatory capital ratio of 26.92%, and statutory liquidity ratio of 74.59%, such ratios significantly exceeding all statutory capital adequacy and liquid asset requirements. The liquidity challenges the Bank currently faces is truly a short-term one. As it progresses through this process, the Bank is confident that all its depositors, cardholders and creditors will be kept whole.

We thank you for your patience and understanding and apologize for any inconveniences caused.

Yours sincerely,

Paradise Point Building
Corner Hutson Street and Marine Parade Boulevard
Ground Floor, P.O. Box #2494
Belize City, Belize, Central America
Note the email says "most recent reported", which could mean annual or quarterly reporting. Their current numbers may look very different. Given the recent collapse of crypto prices, it's possible Choice Bank is holding crypto as a cash equivalent with significant unrealized losses.

NickBaer 04-12-2018 06:59 AM

BitCoin down $10,000 since highs in September.

The others are down as well.

It is still up from a year ago, but the major part of the "Pump And Dump" scenario played out between September and December.

If they rode the wave of the hype in September, they lost a lot of money...

rowan 04-12-2018 08:10 AM

I would say it seems unlikely that a "bank" would use their customer's funds to speculate in high risk investments, but hey......didn't something like that already happen?

https://cdn1.thr.com/sites/default/f...en_422x218.jpg

Marco68 04-12-2018 11:12 AM

Received a few minutes ago:
"Attention GetSCORECash Affiliates:

FirstChoice Pay (formerly known as Payoneer) and Paxum have issued statements that all withdrawals and outbound payments are suspended. The reason given by Paxum and FirstChoice Pay is that the financial institution they are use, Choice Bank Ltd, is in a “liquidity-constrained position”. The situation with both companies is very fluid and developing.

Until resolution in this matter becomes clear, GetSCORECash is suspending both options in our payout methods for the protection of our affiliates. If your affiliate account with GetSCORECash is setup to payout with either Paxum or First Choice Pay (Payoneer), then payout to your account will be placed on hold. We offer the following alternative methods of payment:

Check by Mail: Free

International Wire: $35 fee (plus your bank may charge a fee independently)

ACH (USA banks only): Free

Paypal: Free

You can modify your GetSCORECash payment method by logging into your account.

Thank you again for your participation in the GetSCORECash program.

Please email us if you have any questions"

AllAboutCams 04-12-2018 11:26 AM

Quote:

Originally Posted by Marco68 (Post 22252703)
Received a few minutes ago:
"Attention GetSCORECash Affiliates:

FirstChoice Pay (formerly known as Payoneer) and Paxum have issued statements that all withdrawals and outbound payments are suspended

Well that's not true as paxum has only stopped card loading and everything else there should work fine.

7k USD 04-12-2018 11:32 AM

Does anyone here work with ePayments.com ?

SleepWalker 04-12-2018 11:43 AM

Quote:

Originally Posted by 7k USD (Post 22252716)
Does anyone here work with ePayments.com ?

There is a thread for ePayments here:
https://gfy.com/fucking-around-and-p...-payments.html

SleepWalker 04-12-2018 11:44 AM

Quote:

Originally Posted by AllAboutCams (Post 22252711)
Well that's not true as paxum has only stopped card loading and everything else there should work fine.

Exactly, yet another Aff Program ran by people who just can't read! They have no reason to remove Paxum, bunch of idiots.

Denny 04-12-2018 11:47 AM

Quote:

Originally Posted by SleepWalker (Post 22252730)
Exactly, yet another Aff Program ran by people who just can't read! They have no reason to remove Paxum, bunch of idiots.

Yep, retards indeed!

7k USD 04-12-2018 11:52 AM

Quote:

Originally Posted by SleepWalker (Post 22252726)
There is a thread for ePayments here:
[/url]



Thank you, appreciate your reply.

from that thread:
Hello! Our services are unavailable for US residents and citizens.

The Porn Nerd 04-12-2018 11:52 AM

Quote:

Originally Posted by Marco68 (Post 22252703)
Received a few minutes ago:
"Attention GetSCORECash Affiliates:

FirstChoice Pay (formerly known as Payoneer) and Paxum have issued statements that all withdrawals and outbound payments are suspended. The reason given by Paxum and FirstChoice Pay is that the financial institution they are use, Choice Bank Ltd, is in a “liquidity-constrained position”. The situation with both companies is very fluid and developing.

Until resolution in this matter becomes clear, GetSCORECash is suspending both options in our payout methods for the protection of our affiliates. If your affiliate account with GetSCORECash is setup to payout with either Paxum or First Choice Pay (Payoneer), then payout to your account will be placed on hold. We offer the following alternative methods of payment:

Check by Mail: Free

International Wire: $35 fee (plus your bank may charge a fee independently)

ACH (USA banks only): Free

Paypal: Free

You can modify your GetSCORECash payment method by logging into your account.

Thank you again for your participation in the GetSCORECash program.

Please email us if you have any questions"

"liquidity-constrained position"
Translation: WE HAVE NO CASH.

rowan 04-12-2018 05:49 PM

Received about 8 hours ago:

Important update for Firstchoice Pay customers

With regret, we are writing to inform you that Firstchoice Pay is not receiving or processing any further payments, effective immediately.

Please be aware that you are not able to receive any new payments through Firstchoice Pay. We trust that the companies that pay you will be offering a new way
for you to receive your payments. Please contact them directly for more information.

The balance on your card remains available for you to withdraw at ATMs or spend. Your transactions can be viewed and tracked through your account and we will
continue to provide you with full customer support.

We would like to take this opportunity to thank you for your business. We have greatly enjoyed serving many loyal customers and offer sincere apologies for any
inconvenience this may cause.

For further information, please visit our FAQ page.

Thank you,
The Firstchoice Pay Team

InfoGuy 04-12-2018 05:51 PM

Quote:

Originally Posted by rowan (Post 22252561)
I would say it seems unlikely that a "bank" would use their customer's funds to speculate in high risk investments, but hey......didn't something like that already happen?

https://cdn1.thr.com/sites/default/f...en_422x218.jpg

It's not unlikely. Banks make money by investing the majority of their customers' deposits. Only a portion of it is kept liquid to service their customers' accounts.

Yes, it did happen. You may recall the global banking crisis from 10 years ago, when many banks were investing in high risk mortgages, lending money to anyone who wanted to buy property, regardless of their creditworthiness. Borrowers were getting 100% mortgage financing, with no money down, to buy overpriced homes.

The Porn Nerd 04-12-2018 05:57 PM

Just withdrew the remaining funds from First Choice Pay from an ATM in New York City. No problem.

After I spend the last few remaining dollars I cannot withdraw I am cutting the card in half.

Bye bye First Choice Pay!

rowan 04-12-2018 09:39 PM

Quote:

Originally Posted by InfoGuy (Post 22253026)
It's not unlikely. Banks make money by investing the majority of their customers' deposits. Only a portion of it is kept liquid to service their customers' accounts.

Yes, it did happen. You may recall the global banking crisis from 10 years ago, when many banks were investing in high risk mortgages, lending money to anyone who wanted to buy property, regardless of their creditworthiness. Borrowers were getting 100% mortgage financing, with no money down, to buy overpriced homes.

Yes, as I mentioned earlier in the thread, it's obvious they don't have cash to cover all customer's funds. It was more a facetious jab at Chris Mallick "investing" our money into a movie that flopped. That's incredibly high risk.

NickBaer 04-13-2018 05:58 AM

This past week has been an incredible drain on energy...

Not getting paid by some programs, because they could not load money to FCP.

Working with Programs that not only haven't updated member payout methods in years, but the webpage interface to do so doesn't work all these years later.

Some Programs don't list Paxum. So now there's no EFT option.

And that's just 10 of 50 I need to check.

So any nonsense about "Sorry for the inconvenience" just doesn't cut it.


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