Advcash update

[Fred]

Credit card deposit limits did not decrease. They actually went up from 8K a day to 10K.

I was talking about the options - actually you have VISA, MasterCard - last month you had additional UnionPay - which is now gone again - same happened in the past - sometimes it's VISA and sometimes it's MasterCard.

No SEPA deposit/withdraw available since months.

World Crypto Card down, UnionPay Card "maintenance" etc.

Guys again I don't blame you at all - whatever someone can do in 2022 with a Belize Financial License - you do.

However the point of ADV2 in Canada is for sure having something in more reputable location regulated to not have so much struggle to get new Partnerships with other Financial Institutions.

 

[wellington]

We just mentioned it above -- we knew that card loads will be unavailable soon, so we recommended people to load them while it was still possible.

It is an unfortunate coincidence that this was followed by the vendor's limit issues. At the time we had no information about any such problems, otherwise that news update would have been completely different, obviously.

Anyone with funds on our ADV Global UnionPay card can move these funds back to the wallet. Card unloads are fully up and running. Which actually suggests 'account doesn't exist' is a random false message, because without an account users wouldn't be able to move the funds back to wallets, and we see them doing that right now.

Don't you have % fee's for loading the card, then unloading the card?

Also unionpay cards are generally for areas not serviced by western card providers, so these users would be without a card option to replace their unionpay card?

SEPA deposit/withdraw available since months.

SEPA working fine.

SEPA working fine.

Or was last i checked.

 

[VoletCom]

No SEPA deposit/withdraw available since months.

SEPA deposits and withdrawals are fully available for eligible users and were never unavailable actually.

World Crypto Card down

They're not down for whoever owns one. Existing cards are fine. We are just not offering new cards because of too many delivery and other operational issues with this particular vendor. Whenever the situation improves, they will come back.

Don't you have % fee's for loading the card, then unloading the card?

Yes, we do, unloads are $2.5 fixed. Point is, the funds are not stuck on these cards at all, and you're free to move them to the wallet and withdraw via other methods at any time.

Also unionpay cards are generally for areas not serviced by western card providers, so these users would be without a card option to replace their unionpay card?

Yes, but we believe these cards will go back to normal soon so there's no need to replace anything.

They had already SEPA deposit/withdraw shutdown for months after they lost there LT EMI Correspondence Account.

To reiterate, nobody lost anything and SEPA has been available to eligible users without any interruptions. Not sure why, but it feels like people want to make things more dramatic than they actually are.

SEPA is citizenship based tho, so if it's greyed out for you, it may mean you're not eligible or your KYC needs to be updated. Best to contact support about it.

 

[wellington]

Yes, we do, unloads are $2.5 fixed. Point is, the funds are not stuck on these cards at all, and you're free to move them to the wallet and withdraw via other methods at any time.

Are you having a laugh?

You informed people they should load up which cost a %

You now tell them you can spend your money but you need to withdraw back to your account which costs a %

lol seriously read what you wrote.

Yes, but we believe these cards will go back to normal soon so there's no need to replace anything.

Well, one can hope.

To reiterate, nobody lost anything and SEPA

Can confirm, i do a SEPA routinely - the account in question may be flagged...

more dramatic than they actually are

ADV is a good service provider (when its operational).

No faults on that front - when its operational.

 

[VoletCom]

You now tell them you can spend your money but you need to withdraw back to your account which costs a %

Not sure where you got the 'need' from. Nobody needs to do anything. Whoever feels their funds are not safe on that particular card for any reason (even though they are perfectly safe), and whoever wants to urgently withdraw these funds from the system, they have the option to unload the funds from the card. This was to address the 'rug pull' and similar made up stories about us somehow benefiting from the funds being stuck on this card (we do not benefit at all).

It's not a %, it's two and a half bucks whatever the unload amount.

Do you have this card? Any other concerns we should address?

You now tell them you can spend your money but you need to withdraw back to your account which costs a %

Well, even though the fixed unload fee is just $2.5 so if you're unloading $1,000 that's a mere 0.25%, we decided to temporarily waive this unload fee for all UnionPay cardholders until the cards are back to normal.

So moving $ from ADV Global UnionPay back to the wallet is currently free, no charge.

Thanks for the inspiration

We continue working closely with the vendor to make sure the UnionPay cards are back to normal ASAP.

All our other cards, Visa, Mastercard, are unaffected and continue to operate normally, as do all account withdrawal features including SEPA.

 

[Simon4466]

@ADV Do you have a real Canadian presence?
If I look into the firm it just shows a p.o. box / shipping store somewhere in Canada. Oddest thing is that there are several MSBs registered at the same address (different p.o. box numbers).

Am honestly so interested in how you guys manage to run such a large online money platform without having any trail in the real world.

 

[Masterhack]

@ADV will you report accounts under CRS and FACTA from 2023? Will be reported card withdraw under CRS?

 

[VoletCom]

@ADV will you report accounts under CRS and FACTA from 2023? Will be reported card withdraw under CRS?

Advcash did not do any reporting previously, and this won't change in 2023. So no and no.

 

[wellington]

Advcash did not do any reporting previously, and this won't change in 2023. So no and no.

Interesting point, but ADV just works over the top of segregated or unsegregated accounts in various financial institutions under the Advcash account.

They surely do CRS as they are based in CRS countries no?

 

[sharklasers]

'As the issue seems to affect limits, we recommend trying to withdraw or spend smaller amounts if a particular payment fails'.

That's BS, you won't withdraw anything from their UP cards, at least for now.

 

[wellington]

'As the issue seems to affect limits, we recommend trying to withdraw or spend smaller amounts if a particular payment fails'.

That's BS, you won't withdraw anything from their UP cards, at least for now.

True, in respect, you could do a balance enquire and it will inform you the account does not exist.

In addition just doing a balance enquire costs funds which automatically show as a charge on Advcash under normal working conditions, but any action completed does not appear under advcash.

What you have is a plastic card which has no digital connection to any account/service.

 

[VoletCom]

That's BS, you won't withdraw anything from their UP cards, at least for now.

We can only provide information from our card vendor, and according to them this is about limits.

These cards showed transactions in early December at least.

Currently we are being told by the vendor that they are in talks with UnionPay about this, and that things are looking good. We will be posting new information as soon as it becomes available to us.

What you have is a plastic card which has no digital connection to any account/service.

If that was true, you would not be able to move funds from the card to the wallet. Previously when card providers completely canceled cards, it meant no movement of funds was possible in any direction. This is not the case now.

You complained about the card unload fee earlier, and we waived it.

We understand it's frustrating for the cardholders, but there's no need to put extra negative spins on everything. Just earlier in this very thread someone said that we apparently lost our SEPA account, which was never the case.

We are doing everything we can to make sure these cards are back to normal ASAP. Apologies for the downtime.

 

[DerAufklaerer]

Have anyone test the new IBAN UK FCA Regulated Account ?

2.99USD/Month

 

[wellington]

Have anyone test the new IBAN UK FCA Regulated Account ?

2.99USD/Month

Link?

 

[DerAufklaerer]

its in the advcash account

 

[DerAufklaerer]

High Fee 5 EUR for a SEPA Transfer ?

 

[Simon4466]

Why does the Adv2 site in the support section say that your account can only receive bank deposits from accounts in your own name? Wouldn't that just make it the same as Advcash? Or is it just an error / am I understanding it incorrectly?

 

[wellington]

Why does the Adv2 site in the support section say that your account can only receive bank deposits from accounts in your own name? Wouldn't that just make it the same as Advcash? Or is it just an error / am I understanding it incorrectly?

Pretty sure Advcash can receive payments from any other Advcash account... (unsure why people would use that aspect instead of paypal etc).

FYI unionpay aspect still down.

 

[Simon4466]

Pretty sure Advcash can receive payments from any other Advcash account... (unsure why people would use that aspect instead of paypal etc).

FYI unionpay aspect still down.

Sorry for being unclear I meant: what would then be the difference between Adv2 and regular Advcash if Adv2 does not allow you to receive money from other people to your IBAN?

 

[DerAufklaerer]

How long does it take to create my IBAN?
IBAN is created instantly after online verification.
Can I receive or send payments from/to other people?
Yes.
What kinds of businesses can I pay or get paid by?
Any kind: cryptocurrency exchange, affiliate program, e-shop, car dealership, real estate, insurance etc.
Can I store EUR funds in my IBAN?
Absolutely. All IBAN accounts are regulated by the FCA and insured. Transaction limits of your IBAN are independent from your ADV e-wallets.

IBAN creation fee	5.00 €
Maintenance	from 2.99 € / mo
Load from ADV wallet	Free
Withdrawal to ADV wallet	Free
Bank transfer up to 10 000 €	5.00 €
Bank transfer over 10 000 €	5.00 € + 0.25%
Limits	5 000.00 € per transaction 10 000.00 € per month