Hi friends, Good Morning and welcome back for some more money making news. For today, there are some important updates to share regarding Fast Cash Mega. In a rather long newsletter, the Fast Cash Mega administrator has explained the present problems the program has been facing with Payza, the erstwhile AlertPay.
The newsletter issued by the Fast Cash Mega administrator is an important one, that lays down many important developments at Fast Cash Mega.
In a nutshell, the payza account of Fast Cash Mega has been put to hold by the Payza authorities, consequently freezing all the money hold in that account. If we go by the newsletter the amount frozen in the Fast Cash Mega Payza account is over $80,000.
It seems the Fast Cash Mega account was put to hold, as the term ‘Profit unit’ used by the Fast Cash Mega site was against the ate-payza-problems Terms of service of Payza. According to the newsletter, the Fast Cash Mega administrators did try to take all the necessary steps to satisfy the Payza representatives.
But going with the bad reputation of blocking accounts, the Payza authorities have yet again blocked all the three accounts of Fast Cash Mega administrators, freezing all the money in them.
Following this development, Fast Cash Mega has disabled all Payza withdrawals, till the problems with Payza are solved.
* To compensate for Payza, EgoPay has been included for transactions at Fast Cash Mega along with the existing ones, that is SolidTrustPay, and LibertyReserve.
* As stated in the newsletter, the delay in processing the LibertyReserve withdrawals resulted following some delay in transfer of LibertyReserve from the Fast Cash Mega forex Broker accounts. The concerned administrators expects to complete the withdrawals this week.
* For some Good news from the Fast Cash Mega Administrators, a dedicated Blog for Fast Cash Mega will be launched soon in the coming days. The Fast Cash Mega Administrators have also informed their plans on the launch of a new Program from the same team of Fast Cash Mega.
The Fast Cash Mega Newsletter :
I think many of you wonder what’s going on at FCM. That’s why I’m sending you this update. You can either read it so you understand or not read it and send your usual support tickets asking questions that have been answered. I think you’ll understand those support tickets will not be answered anymore. If you want to make money you should do the little effort to read the information we provide like all other members do. You can always go to the news section in your FCM back office (you’ll find the news section on the Account Overview page when you scroll down) to read the latest updates. Thank you.
Ok, let’s start with the bad news. This is very bad news.
A few weeks ago a Payza account manager contacted us to inform us that the “Profit Units” system we have at FCM is against their user agreement. I will copy and paste that part here:
“Section 7.02 – Activities Not Allowed
Any indication or demonstration of a literal rate of return on a contribution, payment or investment, while not being licensed to sell or solicit”
I suggested to move our account to Egopay but then she said “Let’s talk” so we did. I called her and she said they want to continue working with us. All we needed to do was change the text at the site so it doesn’t say like “3% per day” and “300% when you cycle out”. All text with percentages needed to be changed so that’s what we did. That’s why you see the text at the FCM site without percentages. We did this because we know many members use Payza and there are not many rebate sites that can offer Payza so it’s a big advantage for us.
That’s all positive but now for the negative part. As part of their terms all business accounts (depending on the industry they’re in) will have 10% of their weekly income reserved (frozen) for 6 months. Payza says it’s for protection against charge backs and things like that. This is nothing new because it was like that even when they were still Alertpay. However the problem is that the amount frozen in our account is about $80,000 now so I asked to release funds earlier but she said that’s not possible. She did agree to lower the percentage that’s reserved every week to 5% instead of 10% so that’s good but the 5% just started this week so problem is still the big amount frozen.
Next to that (as if it’s not enough already) Payza is well known for it payment reversals. A payment reversal occurs when for instance a hacker hacked a Payza account and made payments to us. Payza reverse the payment we received to restore the account that have been hacked. We keep a document with all reversals. The total amount that have been reversed last year is $39,767. This passed week we received many reversals from December. All are big amounts which got our available balance very low.
We have multiple Payza accounts. One account has quite some funds that have been reserved (frozen) but should be ready to be released. This is from another program we have called im4im.com. That program didn’t got approved after the transition from Alertpay to Payza for some reason so the funds in that account have been frozen all this time and should be ready to be released now as the 6 months have been passed now. Since that account been restricted it’s not possible to login there so I asked Payza to transfer the funds from that account to our FCM account. I have sent this request Thursday so hopefully next week we’ll get an answer from them if they can do this or not. It would eliminate the low funds problem. If they don’t want to transfer the amount to our FCM account they will probably suggest transfer to Egopay. We have Egopay available at FCM now so that’s ok too.
Looking at all the problems with Payza we really need to think about whether it’s worth all the trouble to keep Payza. There are a lot of complaints about Payza from business owners but also many from consumers. They make it hard to run a business with the frozen amount policy they have. That’s why we have to put withdrawals to Payza on hold for now till we hear back from them to know if they transfer the money we got in our other account or not.
IMPORTANT: PAYZA WITHDRAWALS WILL BE DISABLED TILL FUTHER NOTICE (till we hear back from Payza)
We will continue to process the Payza withdrawals that are pending though so you don’t have to worry about that. It’s possible it will take a bit longer now because we have to work with the available funds we have. It’s crazy we have to work like this while we have enough funds. It’s just that we can’t use most of it because it’s reserved (frozen) as a Payza policy.
LIBERTY RESERVE WITHDRAWALS
As you may know we have made a promise to try and keep the option open for members who didn’t pay with LR to still be able to withdraw to LR because we know that Payza and STP make it very hard to transfer funds to your bank account (depending on the country you’re living in).
We want to keep this possible so what we do is transfer funds from our trading accounts to our LR account. Problem is sometimes transfers take longer to process. We have a total of 6 forex accounts with 3 forex brokers so we rotate when we do withdrawals. At the moment we’re waiting on a transfer we requested Thursday. It has not been added to our LR account yet so probably Monday this will be completed. In the mean time we will continue to process LR withdrawals as much as we can.
REQUEST: If you know a reliable exchanger for LR that doesn’t charge 10% fee please let us know so we can look into that because we obviously can’t rely on our forex brokers too much as sometimes it takes more than 2 days to complete transfers as it seems.
If we don’t find a good exchanger we may have to limit withdrawal to LR to only the members who paid with LR (we don’t want to do that so hopefully we’ll find a good exchanger soon).
NOW FOR SOME GOOD NEWS…
We added Egopay as payment and withdrawal option as you may have noticed.
We’re working on a FCM blog that will provide more information about the FCM system and updates. It will be like a resource of information. It’s almost ready to launch so soon you’ll be able to check that out.
We’re also working on a new program. I have this idea for months now and worked it out on paper. It will be a whole new program so not integrated in FCM because we want to work with a e-wallet system that makes it much easier to deposit and withdraw funds.
I think you will like this program as it’s based on the principal of “earning a lot with not much effort” (like all the programs we create). When we’re ready to launch and you see it then you’ll understand what I mean. It’s like a system that will continue to earn you money and you can’t turn it off even if you try. It will keep expanding and expanding to earn you more and more.
It will not compete with FCM because it’s a whole different system so people can still prefer FCM or both.
Soon I will send you some more information about this so you can think about it (if you like the idea or not).
Ok, I’ll stop here to not make this too long again.
Please keep this in mind:
IMPORTANT: PAYZA WITHDRAWALS WILL BE DISABLED TILL FUTHER NOTICE (till we hear back from Payza). Pending withdrawals will be processed though but can take a bit longer now.
DON’T REPLY TO THIS EMAIL!!! IF YOU REALLY HAVE A QUESTION THAT’S NOT ANSWERED USE THE CONTACT FORM AT THE FCM SITE!
Fast Cash Mega admin
Paying Programs [Dated 6th January, 2013]
New Program Joined :
WildTwelve – 10% Daily for 12 Days 144% After 12 days . Minimum Deposit : $10. Withdrawals are processed manually. Running since 28th November.
Eco-Invest : 3% daily for 50 business days. Minimum Deposit : $10. Withdrawals are processed manually. Accepts LibertyReserve, PerfectMoney, EgoPay and SolidTrustPay. Running since 23rd December.
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