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What is going on with First Choice?

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I noticed a few people worried about getting the money they are owed. From my experience and I've had a couple of services close on me. Its not a matter of if you will get paid, but when. Worst case scenario it will be caught up in the bureaucracy of the bank and it will take a few months to receive a cheque for what you're owed. Theres strict requirements for holding a banking licence and stealing money would surely disqualify a company from holding one. But that's small comfort for those waiting for their money I'm sure.
 
Okay, I've been hearing some vague whispers about issuing new cards, new banks etc.
These rumors are causing a huge damage, to a big community of people, who are already undergoing a lot of stress in the last few days.
My colleagues and teams are working 24/7 on resolving each one of the individual cases we have.
I am asking us to hang in there, and do the best we can to rely on facts, that will be provided from official and confirmed sources.
 
@Dan Epstein
I'm in the same condition.
Here many talk about Paxum and an alternative payment method, but I've found very few answers about how to dispose of money exceding the card funds. :/
If you or anyone have news it will be very appreciated :)
Send me an email please, I want to double check that you are under the care of my teams already. It's danep@firstchoicepay.com. Thanks!
 
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Okay, I've been hearing some vague whispers about issuing new cards, new banks etc.
These rumors are causing a huge damage, to a big community of people, who are already undergoing a lot of stress in the last few days.
My colleagues and teams are working 24/7 on resolving each one of the individual cases we have.
I am asking us to hang in there, and do the best we can to rely on facts, that will be provided from official and confirmed sources.

People's natural response is to try and define meaning and seek out answers to the exclusion of what the reality is. This can be damaging as you mention and isn't helped when people make unsubstantiated claims about whats happening.

Whilst not directly affected, a friend of mine is, and we appreciate you letting us know that you are on the case and look forward to a clearer understanding around what will happen in the future.

Hopefully they can take some comfort in knowing that you are working on it Dan. Thank you.
 
Okay, I've been hearing some vague whispers about issuing new cards, new banks etc.
These rumors are causing a huge damage, to a big community of people, who are already undergoing a lot of stress in the last few days.
My colleagues and teams are working 24/7 on resolving each one of the individual cases we have.
I am asking us to hang in there, and do the best we can to rely on facts, that will be provided from official and confirmed sources.

I hope this means you are still employed. I know it is hard for everyone but seeing this was your job it should be hardest for you. Good luck and appreciate the updates you provide.
 
Okay people, I've stumbled across the following rare case, however please don't try this at home.
I don't usually rant however I came a cross a case of someone sending funds from a Webcam site to an e-wallet, and then trying to load the Firstchoice Pay card with it. If you are not training to be a QA product tester, please don't try to load the Fistchoice Pay cards from an e-wallet. In the best case scenario it will not go through or bounce.
Now if you will excuse me, I forgot to say Happy Birthday and Mazal Tov to @AudriTwo
 
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Still wondering why I can't "rest assured that I have a quality payments provider"...
 

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I'm really not satisfied with hopes as long as I have more than 40k frozen there. Hopes doesn't help the situation as much as a live update of how re things going from fcp would.
I have more than 30k too ... I agree with you about a live update will be very helpfull :)
Idk if this lack of infos is caused by a bad faith or because this issie is relatively new
 
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I have more than 30k too ... I agree with you about a live update will be very helpfull :)
Idk if this lack of infos is caused by a bad faith or because this issie is relatively new
Relatevly new?! Tomorrow's a week since all this disaster started.
All we ask are real time updates. Those are OUR money and we have the right to know what's happening with our money.
 
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Americans just love checks for some reason. When I worked retail, people used them constantly. Drove me bonkers.
@zumba2 , your concern is more than understood on my end. It's clear to me that eventually it's going to take more than likes and hugs to resolve this. We are not facing this alone. My colleagues and everyone in the content websites are tirelessly working on a solution.

Dan after a week we just want some facts, not only words...
Everyone is saying that they give their best...hope their best is enough for us!
 
@zumba2 , your concern is more than understood on my end. It's clear to me that eventually it's going to take more than likes and hugs to resolve this. We are not facing this alone. My colleagues and everyone in the content websites are tirelessly working on a solution.

What do you mean with "we are not facing this alone" ? Who else is involved? It would really help if I know that payoneer team is also involved in this and they are working together with your team.
Where are our money now? At choice Bank or at fcp?
What possible solutions you have after almost a week of intense work ? Why the support don't want to answer this legitimate questions and they give general answers? Sorry if I'm to direct @Dan Epstein I understand it's not you fault in any of these problems but my patience goes to limits hour after hour and I want answers.
 
What do you mean with "we are not facing this alone" ? Who else is involved? It would really help if I know that payoneer team is also involved in this and they are working together with your team.
Where are our money now? At choice Bank or at fcp?
What possible solutions you have after almost a week of intense work ? Why the support don't want to answer this legitimate questions and they give general answers? Sorry if I'm to direct @Dan Epstein I understand it's not you fault in any of these problems but my patience goes to limits hour after hour and I want answers.

I've sent some questions too directly to FCP support and Choice Bank support but nothing happened

I asked to my lawyer about this kind of situation and I discovered my job is not illegal in my country ... this is a good step if anyone want to take some legal action in the immediate future
 
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Honestly FCP backing bank just pulled the rug out from under them and cancelled everything with no notice. FCP, and Dan, are doing the best they can. It hasn't even been a week and they've given concrete answers when they have been able to. They've helped people pull what money out of their accounts who can, the rest of your payments just need to go elsewhere now. That's it. Pick another payment provider. There's nothing a company can do when their backer walks away immediately. You think it's so easy to deal with and fix this stuff immediately? No. It's not. I get it sucks and I get it's your money but the outrage being directed at FCP is misdirected. They had no choice or notice in this either.
 
It wasn't even Choice Bank. They were "forced" into a liquidity restrained position. I take that to mean their assets have been effectively frozen. The thought is that MasterCard initiated this as part of its BRAM program in response to tax haven and money laundering laws. But it seems FOSTA/SESTA is the legislation that pushed them into taking this action now.

https://domaingang.com/domain-news/...ard-issuer-in-liquidity-constrained-position/

Paxum apparently had foresight to make other arrangements although they were also associated with Choice Bank (hence the problem with their current cards). I hope things start to get sorted out and maybe FCP will take some steps to get back in business also. If this law is really the reason this happened however there could well be more disruptions like this in the future. When things start to get back to normal though I think it would be beneficial to have multiple payment options available in case there are more problems like this. I don't think you can really blame anyone in the industry for what happened. Hopefully the majority of this will be resolved soon but be watchful for new problems also.
 
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Honestly FCP backing bank just pulled the rug out from under them and cancelled everything with no notice. FCP, and Dan, are doing the best they can. It hasn't even been a week and they've given concrete answers when they have been able to. They've helped people pull what money out of their accounts who can, the rest of your payments just need to go elsewhere now. That's it. Pick another payment provider. There's nothing a company can do when their backer walks away immediately. You think it's so easy to deal with and fix this stuff immediately? No. It's not. I get it sucks and I get it's your money but the outrage being directed at FCP is misdirected. They had no choice or notice in this either.

Teagan,
before everything sorry for my english :)
Our problem are not future payments, honestly I opted for Wire transfer.
The problem is lack of infos about how things are going and about our frozen accounts :)

I know is not an easy situation and I know anything can't be solved in 1 hour/1 day or 1 week, ... but knowing about what is happening to our account and about the evolution of this "meh" situation is legit ;)

If i can ask:
how can FOSTA/SESTA can affect a Belize bank and a person who live in Europe?
Maybe I've missed something in the english article :D
 
Teagan,
before everything sorry for my english :)
Our problem are not future payments, honestly I opted for Wire transfer.
The problem is lack of infos about how things are going and about our frozen accounts :)

I know is not an easy situation and I know anything can't be solved in 1 hour/1 day or 1 week, ... but knowing about what is happening to our account and about the evolution of this "meh" situation is legit ;)

If i can ask:
how can FOSTA/SESTA can affect a Belize bank and a person who live in Europe?
Maybe I've missed something in the english article :D

It is speculation at this point but it seems to be a likely possibility. I don't completely understand it either but if MasterCard (a U.S. company) suspends its business with any bank in the world I would assume that would force them into a liquidity constrained position. That bill could have many impacts globally.
 
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Your account isn't frozen though. It's just unable to be loaded anymore. You want info but they have given all available info as soon as it was known. They can't predict the future, and they aren't going to make announcements just to make one. Anything said must be true and something they can stick to. You have been given the info as FCP knows it. They can't tell you if things will change because they don't know if it will. They can't talk about a new backer, new cards, or anything else because again, they don't any of that. There's really no new info they can give until they know something themselves which takes time.
 
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Your account isn't frozen though. It's just unable to be loaded anymore. .
Teagan thanks for your answer :D
But there is a point I continue to not understand: you say "Your account isn't frozen ..." ...
So how I can dispose of my money on it? ... in my country an account unavailable to the owner ... is frozen :)
I have money stucked on FCP my card is unable to be funded, ... so where are money? Are we missing something?

Who is the owner of our virtual accounts (the account that exceed card), FCP or Choice Bank?

These questions need an answer asap i think :) and not from anyone of us but from someone that know the real situation :)
 
Honestly FCP backing bank just pulled the rug out from under them and cancelled everything with no notice. FCP, and Dan, are doing the best they can. It hasn't even been a week and they've given concrete answers when they have been able to. They've helped people pull what money out of their accounts who can, the rest of your payments just need to go elsewhere now. That's it. Pick another payment provider. There's nothing a company can do when their backer walks away immediately. You think it's so easy to deal with and fix this stuff immediately? No. It's not. I get it sucks and I get it's your money but the outrage being directed at FCP is misdirected. They had no choice or notice in this either.
HI there

I never doubt than Dan is doing all what he can the problem is that we need real time updates of the situation. If you tell me there no news after almost a week, at least a plan or something, now that's a big problem

We Speack about money here, and some of us really have large amounts blocked in there. You can't tell me to pass on and to find other payment method and just to simply accept the situation when this is unacceptable.i want to use all the money in there today, how can I do that? If I can't do that it means they are frozen.
In my opinion, taking the risk that everyone will blame me, if there was a professional service, the changes were made so smooth so I would feel no discomfort during their problem. I payed my fees to them with no delay, if they were asking for more I would give more but all i expect is what they promised - that I can rest knowing my money are safe.and at this moment I don't.
Let me give you an example, maybe you'll understand better why I'm so upset. I have a rent a car company as an extra business when I'm not on camera. Someone book a car from me and put all his trust in my services. When it's time to deliver the car, it's suddenly broke. The client has to arrive in few to take the care. My policy in front of the client says that the client payed for my service and I can't destroy his vacantion just because I have a broke car or there's a problem on my side. So I call everywhere till I find a similar car to rent for him. He don't even has to know that there was a problem. He just have to feel comfortable using your services.
That's what I expect here too. Delivery service in time and no problems. If they appeared and fcp couldn't handle them quick, at least give me updates.
 
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You’ve been given real time updates. There’s been news. I didn’t tell you to accept anything. There was laid out info about what to do already. Your answers were already given. And now you have to find a new way to get paid. Period. Renting a car isn’t as easy as finding a new bank to back your company. Nor could it possibly be seamless for them to do. We don’t even know if they care to do that anyway. Right now though none of that matters.
 
You’ve been given real time updates. There’s been news. I didn’t tell you to accept anything. There was laid out info about what to do already. Your answers were already given. And now you have to find a new way to get paid. Period. Renting a car isn’t as easy as finding a new bank to back your company. Nor could it possibly be seamless for them to do. We don’t even know if they care to do that anyway. Right now though none of that matters.
You don't get it! I have no problem finding a new payment option. My problem is that the money I had on my virtual account are stucked there. That's the problem. Not finding a new payment method. That's already done.
 
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well..if the option "withdraw funds to external card" will work, im not going to be upset. The problem is, that I sent the money to my bank account once ... But the money dissapeared. Support didnt help... most annoying for me,is one sentence in paxum email "The only change in our current business is that Choice Bank issued Paxum cards can no longer be loaded. "Yeaaa no problem it doesnt influence anything ..suuure,they should pay those fees, for using service like withdraw funds to card,we are forced to use.Most people are happy,that we cannot pay for new paxum cards.Like whaat? Why we should? Im surprised,after sooooo many new fees they added , this is really happening.
Sorry for bad english,im nervous...and sad,because i will be hungry this month
 
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Did FCP have the same TOS as Payoneer? If so, those of you who had a lot of money on those cards need to read that stuff. It's scary and doesn't leave you with a lot of legal options.
 
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Did FCP have the same TOS as Payoneer? If so, those of you who had a lot of money on those cards need to read that stuff. It's scary and doesn't leave you with a lot of legal options.
That's why I'm afraid of. Everywhere you search you only find official info about money on your CARD! They say nothing about money on your virtual account that are not loaded yet but they exist there in your fcp account.
 
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