ePayments may have a hidden agenda, be warned.

[happyjohn]

for 15 days ago I applied for an emerchant account as one of many bank- & EMI accounts applied for in the chain to protect my assets.

They asked lots and lots of question even more than Fidor Bank, TW, AdvCash and many more. It's a straight and total clean business with clean documents and no funny business activity. and then thiss tody,

Beside the EMI's I opened two local banks for the same company with the same documents and the same business activity.

Hello!

Our Risk and Compliance team has reviewed your application. I have to inform you that we will not be able to open a corporate account for your company. I am afraid I cannot provide you with the details as the Department reserves the right not to comment on their decisions.

Your application will be declined shortly.
We wish you every success. Thank you for your time and interest!

Iris
On-Boarding Team

After I have spoken with a lot of other people around this forum it becomes more suspicious to what they are actually up to. It come to my mind that they may just collect your KYC documents for other purpose and that no one really get an account there.

From my personal experience and to be 100% honest I used total clean and transparent documents and business activity there is simply 0% risk for a bank or an EMI and eben though I got declined.

Maybe this is a honeypot or one huge operation to collect passports and utility bill's in a huge flow for other purposes, maybe for selling or criminal activity purpose.

 

[John Spectre]

To be honest, i've used epayments for a couple of years already without any problems. As well as a lot my friends who do the same.
But it for personal accounts for most.

For business they have strict rules about allowed acitivity, but the are not scam for sure.
They simply do not allowed your type of business despite it legal and clear (btw their restrictions clearly showed in their T&C).
I have account for company too, that sell electronics and provide software development services. And during verification process they noted me that i can use their account for software development payments, but not for selling goods. Thats is.

About collecting documents and selling it to 3rd party. I beg you, any EMI and banks could do it and actually do it without problem. Data leaked is going over the world everywhere.
I know a person who are manager in Tier 1 EU bank and activelly use clients data in own dark deals. So what in such case? Dont use banks and dont share your personal data ever?

 

[happyjohn]

I'm not selling anything it's an activity between two companies where in both companies some of the major certified accountants are doing accounting and audited tax reports. So I give a s**t for their compliance they must either be stupid or it is second business they do selling documents.

 

[John Spectre]

Again, if you would allow users to judge themselves about compliance of epayments - you should disclose exact information about your companies and their activity.
Traditional compliance system for banking is freely available information. It's a tons of reason, why company could be supposed as a risky.
Epayments don't have anything extraordinary, comparing to the other financial institutions over the world. And they 100% simpler that some bank with nightmare compliance.
You have local bank account for your company? Great, it's a usual situation that banks made simplier compliance for local companies.
You pay taxes and do audits? Great, goverment take your taxes and accountants take your money for their service. It's don tell anything about 100% legality of business or about fact that it should be allowed or no.

Instead of shilling epayments as a scam, if you really want to help users with this EMI, you should disclose information about questions what they asked, what specifics your company have and other information that could be USEFUL for other people. But you just pour tons of s**t on epayments, just because this EMI and your company just fit for each other.

 

[Spinat]

ePayments sucks big times. Would not touch them ever again. Declined 2 different applications from me, everything was clean. I don't believe this is a valid service.

 

[happyjohn]

I agree totally with you @blueweb - they suck big times.

 

[karim8899]

they shut down and re-opened my account 3 times, with 3 different reasons.

 

[Martin Everson]

Maybe this is a honeypot or one huge operation to collect passports and utility bill's in a huge flow for other purposes, maybe for selling or criminal activity purpose.

Scary to think but I am sure some rouge EMI's do precisely that as their core business model. Your personal and business details can fetch good money for money laundering purposes . They are worth far more money than the little fees they would collect from you if they had opened you an account. It is very worthwhile looking into the background of owners of any EMI before handing over any personal details. CEO Mikhail Rymanov aka Mike Rymanov seems a very entrepreneurial guy comrad.

http://elitebusinessmagazine.co.uk/authors/item/mike-rymanov

 

[happyjohn]

Thanks @Martin Everson I already feel sorry for myself to have handed over my documents to them. I will have to find a way for a lawyer to request them to confirm they will not misuse my documents and destroy them according to the PCI regularions for payment service providers.

Not sure if I will succeed with that. Hope this can be a thread people will learn from when they consider to send their documents to ePayments. Be warned it's a honeypot.

 

[Marc Jacob]

Not sure if I will succeed with that. Hope this can be a thread people will learn from when they consider to send their documents to ePayments. Be warned it's a honeypot.
[/QUOTE]

Buddy, be careful before making any conclusions and defaming a company... I've been using epayment for some of my customers and so far they were annoying in term of documentation, i agree ! but at last they have always been a very serious service provider.

 

[WoWNull]

Thanks @Martin Everson I already feel sorry for myself to have handed over my documents to them. I will have to find a way for a lawyer to request them to confirm they will not misuse my documents and destroy them according to the PCI regularions for payment service providers.

Not sure if I will succeed with that. Hope this can be a thread people will learn from when they consider to send their documents to ePayments. Be warned it's a honeypot.

i have same thing but hopefully can have a solution, i face this issue also with the service that kraken used.

 

[CaLViN]

I have been using ePayments since 3 years or so.This is the best debit card provider i have ever used.
Loaded more than 500K EURO and withdrawn the same amount via ATM.
Never had an issue.They have asked for KYC documents for 2 or 3 times at all.
I hope theh manage to survive for another decade.
We have 2 accounts working smoothly.One personal , one business..

 

[lrotter]

agree with post above - ePayments is one of the most trusted and stable EMIs.
yep, their compliance is tough and even good looking and clear companies can struggle while passing it.
but yet - their SEPA + SWIFT and card offered combined with tariffs make this solution worth of spending time with compliance game

 

[funk]

Maybe this is a honeypot or one huge operation to collect passports and utility bill's in a huge flow for other purposes, maybe for selling or criminal activity purpose.

Making an accusation on a company of being a honeypot without evidence of data being stolen or misused is completely wrong. You got rejected and in your frustration you started this thread.

In your view your organization is legal and clean but at the same time EMI or bank can have any reason whatsoever to decline your business. Defaming a service like this is just a way to tell others and yourself that grapes are sour.

 

[happyjohn]

In your view your organization is legal and clean but at the same time EMI or bank can have any reason whatsoever to decline your business. Defaming a service like this is just a way to tell others and yourself that grapes are sour.

I totally agree and it's my opinion. People should stay away and don't waste their time. As I mentioned 2 REAL BANKS accept my business without troubles. KYC and business description provided and approved. ePayments took 3 fucking weeks from the very beginning to the end to decline a application.

If anybody want to waste their time with this company do it, and if you trust your documents this company do it. I will refrain to get engage in such crap in the future.

 

[moneyhoney]

I wonder if any business is accepted lately. I just hear about applications rejected and I've direct experience of me and friends too (clean businesses, different countries etc), all rejected after weeks and tons of documents provided.

All people talking well about epayments have account for years. But it seems now they changed their business; maybe they have enough clients.

 

[Bmw850]

I don't know if it helps or it is your case. I have putted attention that they always reject my applications from newly incorporated companies. And they do accept "old" companies.

 

[happyjohn]

All people talking well about epayments have account for years. But it seems now they changed their business; maybe they have enough clients.

Exactly, they may have come to the conclusion that they have sufficient with customers and just decline all new applications. They can cherry pick the one they like and the rest they can decline. So far only heard about people that got declined.

 

[lrotter]

we open offshore "start ups" with them with no problems...

 

[happyjohn]

Who are "we" and what are the startups you are opening? bulls**t companies which suddenly get accepted by ePayments. Come on that's a big fat lies again from some random user at OCT!