Thread: A Humble Request (Merged)

BeefySapphires are quicker (1/2 Beefeater, 1/2 Bombay Blue Sapphire, very dry, straight up, ice cold, 3 olives - 1 black 2 green, slightly dirty)

Cheers!

Merchant contracts do vary according to individual order value and perceived risk.

I suggest that there had already been some chargebacks and perhaps other complaints causing the cc companies to get cold feet and they used used this as an excuse to hang on to the money under the guise of "protecting the poor innocent card holder" from these wicked internet scamsters just in case they wanted to change their minds later!

Now what if BN have reached the point where they have proven that Pips is a legitimate business and are now leaning on the card companies to honour their obligations?

Some of these people receiving these e-mails will have to make a decision. They are being presented with an opportunity on the one hand to (perhaps) get their money back if they claim they did not get what they ordered but on the other hand they will be potentially many thousands of dollars worse off when Pips is finally restructured and relaunched.

Any trolls in this position will have to really wrestle with this dilemma!

Just a couple of bobs worth!

Michael

Excellent point, Michael. But it is a two edged sword. The CC's could fight back and say "see, not legit, so we are correct in holding". But, of course, then how do they answer the user? We were waiting for determination? Don't buy it. Still say something else is going on here (in addition to....)

Thanks Whatever, for the clarification.

Ok, rather that beat up the summer with what we already know, is there anything else anyone wants to discuss BEFORE we start the question and answer period of this project (and then start the timeline/picture painting).

Arcturus

Look guys.....it still depends on the CC company/bank....on whether they hold your funds for whatever reason they want. Case in point....sold my house 1 1/2 yrs. ago....got a good chunck of change out of it. Got my check at closing, which is suppose to be the same as a cashier's check, but my bank at the time told me there would still be a "two week" holding period for those funds before I could use them! I told them whatever checks I wrote on that deposited amount had better clear or the rest of the money would leave their bank! They did cover the checks with no additional charges. So they can do what they want with whomever they want...just depends on what suits them at the time.

hmmm... what started the big withdrawal backlog in 2004...?

was it:

1) lack of banking connections

2) because they had to backtrack everything manually due to fraud (hacking, chargeback...)

3) both at the same time

4) Something else?

Do we know anything for sure about this?

When exactly did it start?

Will have to think about that and check my notes.....

Out for the weekend. Peace everyone. See you next week. Be productive!

Arcturus

One point about Visa, Mastercard is that off shore payments are sometimes held up for 2 weeks or more while 'they' investigate the situation. When I joined the Clones way back when one of my Visa's went through and then 2 weeks later the purchase was disapproved by Visa. I had no say in the matter, Visa closed down my card, and said I was in violation of their terms. I could not understand what that ment, because there was nothing about sending money overseas. But there was information about gaming....Given that 9/11 was still fresh in their minds I have no doubt now that there was and is some tight security regarding what, where and how much is being sent internationally on these charge cards....

....carry on !

Originally Posted by rolbuddy

hmmm... what started the big withdrawal backlog in 2004...?

was it:

1) lack of banking connections

2) because they had to backtrack everything manually due to fraud (hacking, chargeback...)

3) both at the same time

4) Something else?

Do we know anything for sure about this?

When exactly did it start?

I haven't read the whole thread so this may already have been covered, but:

I think it started when the so called Patriot Act became implemented in late November 2004 and HSBC became windy about lots of money being deposited from one account to several accounts. Apparently it is a classic money laundering pattern and as they didn't want to risk a hefty fine or worse they shut down the payment gateway hence no withdrawels. When potential investors found that they couldn't invest via the credit cards when the payment processor went down, those who had already opened accounts and then charged back onto their CC's were then selling those accounts on for e-gold or whatever, so then millions of fraudulent picpay dollars were floating around the system.

So the answer to the above has to be, IMHO
1 Yes
2 Yes
3 Yes
4 Yes
5 No
6 Don't know.

Chris

Originally Posted by azmia

One point about Visa, Mastercard is that off shore payments are sometimes held up for 2 weeks or more while 'they' investigate the situation. When I joined the Clones way back when one of my Visa's went through and then 2 weeks later the purchase was disapproved by Visa. I had no say in the matter, Visa closed down my card, and said I was in violation of their terms. I could not understand what that ment, because there was nothing about sending money overseas. But there was information about gaming....Given that 9/11 was still fresh in their minds I have no doubt now that there was and is some tight security regarding what, where and how much is being sent internationally on these charge cards....

....carry on !

You are right Mia, CC usage these days are very touchy subject. The best way was Bryan idea to have a own bank, and you could eliminate a lot of problems. Question is how hard will be to cope with other powerful world banks and other regulatory bodies. We will find out in time to come.

Well, a nice cheque book with a fancy PIPs logo on each cheque would be one way of shoving it in their face..pay back in time guys :)
paddy