ePayments is gone!

fabrice34

New member
ePayments published an article on his blog :


ePayments temporary account suspension: FAQ for customers


Following a review by the Financial Conduct Authority ('FCA') of ePayments Systems Limited's ('ePayments') anti-money laundering systems and controls, a number of weaknesses have been identified which require urgent remediation to ensure that our customers can enjoy a safe and secure platform.

Yesterday, we made the hard decision to suspend all the activities, including accepting new registrations, while we work tirelessly to ensure improvements are made and accounts can be reactivated as soon as possible.

We know this is a frustrating experience for all our customers, and so we’ve produced a set of FAQs that we hope will help with some concerns and queries.

If you do have a specific question, please email [email protected] and one of our team will be in touch.


Why am I restricted?
Currently all the activities within ePayments are restricted. This is the temporary measure ePayments agreed to take to ensure improvements are made and services will be resumed as soon as possible. We will keep customers informed of our progress.


Why can't I register?
For now, we have unfortunately taken the hard decision to suspend all the activities, including accepting new registrations.


Why can I not get verified?
For now, we have unfortunately taken the hard decision to suspend all activities, including account verifications.


When will I be able to access my account?
We are working tirelessly to ensure improvements are made and accounts can be reactivated as soon as possible. We will keep customers informed of our progress but we’re unable to give a clear timeframe as yet.


Has my money gone?
No. All customer funds are safeguarded as normal in line with section 19 of the ePayments terms and conditions.


Did you commit a crime?
We are not subject to any criminal action


Is your license gone?
No. ePayments is still authorised by the FCA and details of this can be found on the FCA’s website (register.fca.org.uk). We are committed to working openly and in a transparent manner with our regulator.


How can I access my money?
Сurrently all operations are restricted. We are in the process of urgently addressing the weaknesses in our anti-money laundering systems and controls and our plan is to keep you up to date with our progress.

We wish to assure you that all of your funds are safeguarded as normal and are not affected by the work we are currently undertaking. As soon as we have completed the required improvements and can grant access to funds, we will let you know.


What will happen with payments coming to my account?
We will not be able to process payments, and any incoming funds will be returned.


Are you closed for good?
No. We have made the decision to suspend activities whilst we address our Anti-Money Laundering systems and controls.


Why did you not notify us in advance?
We were made you aware of our plans at the earliest possible opportunity. Going forward, we plan to provide updates as to the progress of our remediation.
 

anotherone

Active Member
Personnally, I will wait the 1st of march. If they aren't ready by the first of march it is time to me to replace epayments with something else.
 

void

Entrepreneur
Are you closed for good?
No. We have made the decision to suspend activities whilst we address our Anti-Money Laundering systems and controls.
what a bullshit... speaking about their own decision

I'm against any kind of centralized and involuntary regulation anywhere (this is another story) BUT.... if there already is a regulatory subject like FCA that can enforce such a situation "for the greater good of customers" (lies everywhere, huh) putting them into really uncomfortable position then they should be also those who keep the customers objectively informed from the perspective of their role or at least let epayments say what they want and confirm these statements
 

protonos

New member
Hello everyone,
I recently heard rumors that ePayments is going to lose it's license soon, and clients withdrawing their money in hurry. Does anyone know anything about it?
That was some good info you had and it was posted a few days ahead of them shutting down. I wish I was paying attention to the forum more.
 

anotherone

Active Member
So, it is now 1 week that epayments is done. Just for those who remember, it starts like the Xapo, first choice story. If I remember well at the beginning noone thought they would never go back. But at least with Xapo and first choice we could transfer the money back and to the account. Only the mastercards were disabled.
Now, with epayments, this is the worst case scenario, all transactions are suspended.
 

amateur

New member
Anybody have idea, in case they desapear, how get money back , I mean larger 5-6 figure amounts, to sue them, or something like that?
 

anotherone

Active Member
Anybody have idea, in case they desapear, how get money back , I mean larger 5-6 figure amounts, to sue them, or something like that?
you don't need to sue them. You must send a message to the Financial authority that is relevant for your money. For instance, if you have a GBP account , i guess you would contact the FCA.

In the past, I have contacted the FCA to recover 2500 euros from an EMI and they forced the EMI to make a bank transfer.
 

amateur

New member
you don't need to sue them. You must send a message to the Financial authority that is relevant for your money. For instance, if you have a GBP account , i guess you would contact the FCA.

In the past, I have contacted the FCA to recover 2500 euros from an EMI and they forced the EMI to make a bank transfer.
Well, big thanks for info, but are you sure bro, if you are that is great news for me.

I am from non Eu country, and i have about $27 000 in epayments account... How did you contqcted them email phone, contact form...?
 

anotherone

Active Member
Well, big thanks for info, but are you sure bro, if you are that is great news for me.

I am from non Eu country, and i have about $27 000 in epayments account... How did you contqcted them email phone, contact form...?
I filed my complaint here.

You country of residence is not important.
 

amateur

New member
ouch, it took 2 months before getting my money back.
Well that is not promblem, money is money...

But if you cen answer me how much you wait until You reported, for example problem with epayments is one week old, should I report now or wait some more time, I mean what is You expirience ?
 

amateur

New member
Why would you wait to report it. If you can't get an answer to the issue you should report it right away.
Well, their tech support answers on my questions every day, explaining that everythig will be back in normal 'very soon', that is reason why I think that I maybe should give them a bit more time, and maybe I think wrong....
 

anotherone

Active Member
@amateur
It is really funny because I was wondering how much time I should take before taking action. Let me share my thoughts with you.
If the problem is related to due diligence, it should not last long. Epayments is a real company and they have many employees who should work on it. They have programmers, employees for legal,KYC,AML purposes. I found a picture of their workplace.

img@2x-e880ff365a.jpg


I will wait until Friday 28th of February before taking action.

This actual problem of epayments is a life or death question. All their people should work on fixing this KYC/AML problem. If every employee spends 8 hours everyday on this matter, they should fix it quickly. If they don't go back quickly to business it means their problem is more serious than it looks. For example, I think the FCA could have asked them to provide documents and they aren't able to provide those documents. So, in this case, thay can lose their licence in the future. In the past, we saw that the communications of dying EMI were just like the actual epayments communication. "no worries","everything is under control". But in the end, they all terminated their activities. (xapo, firstchoice)

Personnally, I think that If they don't communicate with us, they have a problem. They should have already send us an email saying something like: "the regularisation is in progress." We are their customers.


So, I will have to find a new payment processor. Pervesk in lithuania is ok to replace Epayments but they don't have a mastercard. So, I would need to use pervesk to get my money and then, send it somewhere else.

Dont't forget that they are many fishes in the ocean.
So it is time to look at alternatives like epayservices and cosmo for people in the adult industry.
Freelancers can take a look at advcash and Pervesk.
 

amateur

New member
@amateur
It is really funny because I was wondering how much time I should take before taking action. Let me share my thoughts with you.
If the problem is related to due diligence, it should not last long. Epayments is a real company and they have many employees who should work on it. They have programmers, employees for legal,KYC,AML purposes. I found a picture of their workplace.

View attachment 1016

I will wait until Friday 28th of February before taking action.

This actual problem of epayments is a life or death question. All their people should work on fixing this KYC/AML problem. If every employee spends 8 hours everyday on this matter, they should fix it quickly. If they don't go back quickly to business it means their problem is more serious than it looks. For example, I think the FCA could have asked them to provide documents and they aren't able to provide those documents. So, in this case, thay can lose their licence in the future. In the past, we saw that the communications of dying EMI were just like the actual epayments communication. "no worries","everything is under control". But in the end, they all terminated their activities. (xapo, firstchoice)

Personnally, I think that If they don't communicate with us, they have a problem. They should have already send us an email saying something like: "the regularisation is in progress." We are their customers.


So, I will have to find a new payment processor. Pervesk in lithuania is ok to replace Epayments but they don't have a mastercard. So, I would need to use pervesk to get my money and then, send it somewhere else.

Dont't forget that they are many fishes in the ocean.
So it is time to look at alternatives like epayservices and cosmo for people in the adult industry.
Freelancers can take a look at advcash and Pervesk.
Once again big thanks for sharing your expireces and opinion! :)
 

protonos

New member
I don't know if "waiting" is the answer. We waited with i-Account and they are now in the wind. ePayments seems to be more legit, however we had no problem with i-Account for 3 years, everything worked perfectly, and then one day they just stopped working, eventually they stopped responding. Now going through the same situation with ePayments! We should all be using Bitcoin ns2
 
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