What is going on with First Choice?

[Darkemporium]

@Dan Epstein thanks for trying please us with some answers ,i know that probably u can t respond to all of us ,so maybe after u take a breath and a beer u can contact me too with the same problem of the virtual money that are stucked on FCP ballance ! Thanks

@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

 

[Sophiestique]

Just now we get verified on paxum.. there is no SEPA option. Only options like before when unverified.WHat is difference between EFT and Wire transfer?

here is what i got from paxum when i asked the same question.
As a temporary solution, you can use the following withdrawal methods:

- Wire transfer, to your bank account.

Add to Profile Settings >> Bank Accounts, a bank account opened in your name and in one of the system's currencies (USD, EUR, GBP, CAD, AUD) and you will be able to withdraw funds (by going to My account >> Withdraw funds >> Withdraw funds by wire transfer). Please note that a wire transfer has a fee of $50 and that it can take up to 5 business days for the funds to reach your bank account.

- EFT/ACH transfer, to your EUR currency bank account.

After adding your bank account details you will be able to withdraw the funds (by going to My account >> Withdraw funds >> Withdraw Funds by EFT Transfer). Please note that the fee for this type of transfer is $5 and that it can take up to 3-7 business days for the funds to reach your bank account.

- To an external credit or debit card.

Add, to Profile Settings >> Credit Cards, the card you wish to withdraw your funds to, after which you will be able to initiate a withrawal by going to Withdraw Funds >> Withdraw Funds to External Credit Card.

Please keep in mind that only debit and credit cards are accepted, as prepaid cards are not supported.

The fee is $6+2,9% of the amount withdrawn and the transfer is completed instantly from our side. If delays occur, you need to contact the bank that issued your card.

 

[Teagan]

@Teagan WRONG you can buy bitcoin with your debit /prepay card not w/ a credit card in US (make sense the bank don't borrow you money to buy crypto. ) ... nobody force you to use coinbase !!! you can use something else many others exchanges or the best method bitcoin atm withdraw ...anyway coinbaise will don't ask you from where you got the btc!!!

"Bitcoin can and has dropped rapidly in a single day" not true !! I'm in this game for 1 year in 1 day you will not have a dip ..if you have 300$ at least you lose 10$ if is a dip in that day... but you can also get with 10+ for example last week was 6800$ and now is 7900$ (04-15-2018)


@nicehotjob I also do a EFT from paxum yesterday and my transaction has the status of : processing ...is 5-7 business days so .I will find out next week if I'll receive it....but I don't see why .... maybe you are new ...sent them a support ticket and...double check you iban bank name bank address swift code ..etc
I hope you convert your usd to euro and then you do the EFT

Try again before you tell someone they are wrong bucko. Coinbase just recently stopped taking credit cards. Mostly due to multiple cards backers refusing to allow them to be used on the exchanges in fact. For Coinbase in order to use your debit to buy anything you have to verify the account with 2 small deposits first. Those deposits will not go through if your bank refuses them to. Which, as mentioned, many banks are now doing. Some have publicly said so, some are just refusing it behind the scenes. You can not use a prepaid card unless you want to use some shit exchange like Paxful and pay up the fucking asshole in fees for it. You can buy them with your bank account, if you trust Coinbase with that info, and then only if your bank will allow you to do so. Same in reverse too. So fingers crossed your bank hasn't banned them yet. Otherwise no money you get paid will be able to be gotten to you in reality. Bitcoin ATMs aren't available at every corner market either. Try again.

No, no one forces you to use Coinbase, but as I already said they are the biggest of the exchanges. The most well known currently and most used by people. If you check out their customer service though it's worse than Chaturbates and is laughable, so good luck if you have issues with them. They are as bad as Paxum with it. They take months to do correct transfers for people. It's a joke. Good luck getting a hold of anyone ever. And yes, Coinbase does actually track you and your account and coins. So there's that, if you think you're so smart about it, you're not.

Oh you can use Robinhood or Gemini too, but again with those fees taking chunks of your money away. Tell me 3 rock solid exchanges that work with every bank in the world that exchange bitcoin to Fiat without astronomical fees. You can not do it.

Also just last week bitcoin was up and down in a single day. It was going up and down $300 during the day more than once last week. It was around $6800 starting the day, it'd jump up, then go back down to that at night. If you got paid while it was up to $7200+ and didn't cash till night, you lost a lot dude. You expect models to deal with that shit just to get paid? No. People are pumping and dumping constantly. If you've really been in this for a year you would know this. So either you have no clue what you're talking about or you're not actually paying attention daily. Bitcoin is worth one thing one minute, and another the next. It's not up to $8,000 but even that is down from the $17k it was just worth in January.

I'm not sure why you're taking this so personally. It's not like people pointing out the huge issues in what you're saying somehow takes you away from it. The market is extremely hostile, volatile, unregulated, and problematic to actually get your money in and out right now. That's just how it is. I see the possibilities crypto has, but I also see the reality with it and it's issues.

 

[Dan Epstein]

Hi y’all, I’ll take a few breaths, and try to bring any updates on my end soon.

 

[Pandora1066]

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.

 

[_pilya_]

Hi y’all, I’ll take a few breaths, and try to bring any updates on my end soon.

Looking forward for the updates! Hoping that email with punker barbie is fruitful.....

 

[Dan Epstein]

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]

@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!

 

[jekster]

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.

 

[BufordT]

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.

 

[Darkemporium]

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!

Done
My english is not very good but I hope you will understand.

 

[Dan Epstein]

Done
My english is not very good but I hope you will understand.

It's okay, I'm not a native English speaker as well.
Received, thanks!

 

[Dan Epstein]

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

 

[zumba2]

Still wondering why I can't "rest assured that I have a quality payments provider"...

 

[Darkemporium]

It's okay, I'm not a native English speaker as well.
Received, thanks!

Still wondering why I can't "rest assured that I have a quality payments provider"...

Zumba, now we can only hope in a quality support and resolution

 

[zumba2]

Zumba, now we can only hope in a quality support and resolution

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.

 

[Darkemporium]

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

 

[zumba2]

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.

 

[Dan Epstein]

@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.

 

[Chriss]

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]

@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.

 

[Darkemporium]

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

 

[Teagan]

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.

 

[BufordT]

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.

 

[Darkemporium]

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

 

[BufordT]

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

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.

 

[Teagan]

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.

 

[Darkemporium]

Your account isn't frozen though. It's just unable to be loaded anymore. .

Teagan thanks for your answer
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

 

[zumba2]

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.

 

[Teagan]

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.