crazy....entropay stop issuing virtual cards outside EEA

Discussion in 'Business Discussion' started by extremedox101, Aug 13, 2018.

  1. extremedox101

    extremedox101 Trusted Member Business Angel

    We're sorry to let you know that due to new restrictions imposed on card issuers, we can no longer provide virtual Visa cards to people living outside of the European Economic Area (EEA) and to people living in Norway.

    Here is how this change will affect you:
    1. From today, 13 August 2018, if you live outside of the EEA or in Norway you will no longer be able to top up Entropay cards from debit or credit cards.
    2. After 31 October, if you live outside of the EEA or in Norway all of your Entropay cards will be cancelled and permanently deleted. All money remaining on your Entropay cards will be deposited into your Entropay wallet.
    3. You can withdraw your money from your wallet to your bank account or to an existing debit or credit card. There is no deadline to withdraw your money; although your Entropay cards will be deleted, your Entropay wallet will remain active after 31 October.
    If your Entropay cards are currently associated with any recurring payments (for example, with a streaming service) you should replace these as soon as possible to avoid service disruption.
    Although this development is outside of our control, we do apologise for what we understand will be both a frustration and inconvenience for our users.

    Your account is not affected if:
    Your address in your Entropay account settings is in a country in the European Economic Area (excluding Norway):

    Austria, Belgium, Bulgaria, Czech Republic, Croatia, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom.



    what is the solution .... running stealth account ?

    alternative vcc provider?
     
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  2. Martin Everson

    Martin Everson Offshore Consultant Business Angel

    This is what is happening across the board to all Fintech firms in the last 18 months.

    You have to ask the question on how did the EU get into such a situation that its entire card payment network is controlled by the U.S...lol? This is a national security threat for the E.U that has gone unaddressed as both VISA and MasterCard being U.S companies with EU subsidiaries control almost all electronic card payments.

    Lets hope the trade war does not get any worse as the U.S could literally cut countries off from VISA and MasterCard usage or increase charges as an act of financial terrorism. ns2

    Long live cash.
     
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  3. extremedox101

    extremedox101 Trusted Member Business Angel

    martin good point , this has gone too far . it's pretty ridiculous to consider myself a play ground for EU Parliament and ISSIS + US ally .

    stealth accounts are the only way to go , that would be my war on them lol
     
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  4. Admin

    Admin Forum Moderator The Forum Cleaner

    You will need to keep your money in Cash or you need to get compliant with the EU entities around that apply these new policies. The world is going crazy and we are in the middle of a huge change in the financial industry so you better adapt to these changes or get kicked out of the game.
     
    Takeshi likes this.
  5. David97255

    David97255 Banned Users Business Angel BANNED MEMBER

    @Martin Everson @Admin

    The problem is that you know that cash is unworkable.
    Crypto money i dont believe in it. Yes there is a big change incoming, banks are not safe anymore too.
    Any others ideas?
     
  6. Martin Everson

    Martin Everson Offshore Consultant Business Angel

    Yes we are going through a massive change in the financial industry right now. Opening a bank account at a traditional bank is becoming more difficult and the same will soon happen for VISA and MasterCard. Right now FinTech companies are handing cards out like confetti. It will not be this way in the future as cards are the new battlefield against terrorist financing and money laundering.

    The EU is becoming a closed market so get your house in order as here is what will happen.

    1. EU retail banks (not private banks) will no longer offer account opening for companies and persons based outside the EU.
    2. EU retail banks/FI's will no longer offer cards to clients based outside the EU (already happening).
    3. EU cards will start to have very low ATM daily cash withdrawal limits i.e max 100 euros equivalent per a day (Cyprus anyone???).
    4. Automatic reporting of aggregate card transactions will take place as part of AEOI/CRS.
    5. EU will set targets to reduce cash transactions to less than 10% of all transactions by 2025.
    6. Some government controlled derivative of blockchain technology will be implemented by government. The populous will blindly walk into modern financial slavery with a happy smiles praising how quick and easy it is to transact - once you have the mark of the beast naiĀ¤%

    Basically anyone not complying will be considered a criminal. They can claim this as you have digital means to make money transfers so why do you need cash ns2 End result is EU financial system is safe and they will bail-in and negative interest rate customers to death.

    In terms of solutions I would like to hear others ideas first smi(&%
     
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