Epayments.com is a very popular payment method for tens of thousands of cammers across the globe but just like FirstChoicePay they have fallen victim to regulators, in this case the FCA (UK Anti-Money laundering). At this very moment though fate has yet to determine whether they will resume business as usual or indefinitely close, in either case its left alot of people with no money for rent, food and other essentials.
Here is Epayments statement:
“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@example.com 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.”
At this moment with the current available information we believe Epayments will resume business as usual at some point.
It is believed by insider sources that Epayments will be required to reverify all accounts and you must explain the origin of the money.
The British regulator has recently updated the Financial Services Register, placing the following requirements on the company:
- Institution to refrain from AIS or PIS for an indefinite period
- Epayments Systems Ltd must inform customers
- Epayments Systems Ltd must not register nor on-board new customers
- Epayments Systems Ltd must not conduct business with corporate, individuals and/or freelancer customers
Cammers in the mean time may wish to avoid hefty wire transfer fees by talking to DP Service/TheDailypayService on firstname.lastname@example.org or by seeing if the site you work on is listed here www.dailypayservice.com/join
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