Thread: US Homeland Security seizes Payza funds

If I was an American citizen, I know I'd rather have my money in a sock under the bed than in Payza when I went to sleep tonight.

Originally Posted by littleroundman

If I was an American citizen, I know I'd rather have my money in a sock under the bed than in Payza when I went to sleep tonight.

HEY! As an American citizen I resemble that remark!!!

Originally Posted by littleroundman

If I was an American citizen, I know I'd rather have my money in a sock under the bed than in Payza when I went to sleep tonight.

And what about non US members? Should they try to withdrawal their funds asap or they shouldn't worry because they won't target non US members??

Originally Posted by Fgold

And what about non US members? Should they try to withdrawal their funds asap or they shouldn't worry because they won't target non US members??

I really don't know much about the payment processors other than the PayPal account I have to buy crap on Ebay. But from what I have seen in just the past few months you would have to be stark raving mad to keep much money in any of these services. From Bitcoin to Payza, what stops any government anywhere from pulling the plug and sending the party goers home empty handed?

Unless you are in an undeveloped nation, or somewhere where the government is just as corrupt as the criminals where is the compelling reason to do business this way? For instance in the US bank accounts are FDIC protected up to $250,000, and brokerages carry S.I.PC. coverage often of $25,000,000 or more against fraud. You are protected against theft of all sorts, and have a reasonable notion that the institutions are sound. Certainly not perfect, and I am sure there are a few outlier reasons to use a payment processor, but why in today's advanced banking environment would you?

Originally Posted by ribshaw

I really don't know much about the payment processors other than the PayPal account I have to buy crap on Ebay. But from what I have seen in just the past few months you would have to be stark raving mad to keep much money in any of these services. From Bitcoin to Payza, what stops any government anywhere from pulling the plug and sending the party goers home empty handed?

Unless you are in an undeveloped nation, or somewhere where the government is just as corrupt as the criminals where is the compelling reason to do business this way? For instance in the US bank accounts are FDIC protected up to $250,000, and brokerages carry S.I.PC. coverage often of $25,000,000 or more against fraud. You are protected against theft of all sorts, and have a reasonable notion that the institutions are sound. Certainly not perfect, and I am sure there are a few outlier reasons to use a payment processor, but why in today's advanced banking environment would you?

I prefer paypal but some forex brokers like mayzus stopped paying by paypal so I need to choose payza to withdrawal my funds from there. Many online oportunities can't support paypal because some of their activities are against paypal policies so they have to choose other alternatives like payza.

Obviously that none responsible enough will store too much funds in their payza accounts and will surely withdrawal regularly to their bank accounts.

Originally Posted by Fgold

I prefer paypal but some forex brokers like mayzus stopped paying by paypal so I need to choose payza to withdrawal my funds from there. Many online oportunities can't support paypal because some of their activities are against paypal policies so they have to choose other alternatives like payza.

Obviously that none responsible enough will store too much funds in their payza accounts and will surely withdrawal regularly to their bank accounts.

For me this is one of the first signs that something is a scam.....If what they were doing is legal and above board then they would use paypal and have no need for scam friendly or anonymous or non reversible pay processors like Payza, STP LR etc.........

Originally Posted by Fgold

I prefer paypal but some forex brokers like mayzus stopped paying by paypal so I need to choose payza to withdrawal my funds from there. Many online oportunities can't support paypal because some of their activities are against paypal policies so they have to choose other alternatives like payza.

Obviously that none responsible enough will store too much funds in their payza accounts and will surely withdrawal regularly to their bank accounts.

I checked the Mayzus site and they allow bank wires, why not go that route and leave the payment processors out? My other question as a side note, are you sure these guys are not just bucketing trades and waiting for people to blow out? The 80% account bonus seems awful steep if they are really putting trades in the market.

As for the rest of the activities, seems like a hassle and unnecessary risk on several fronts. If you are making dosh trading FX, why not focus on that and stay away from the BS stuff, or at the very least not run the funds through the same account.

Originally Posted by ribshaw

I checked the Mayzus site and they allow bank wires, why not go that route and leave the payment processors out? My other question as a side note, are you sure these guys are not just bucketing trades and waiting for people to blow out? The 80% account bonus seems awful steep if they are really putting trades in the market.

As for the rest of the activities, seems like a hassle and unnecessary risk on several fronts. If you are making dosh trading FX, why not focus on that and stay away from the BS stuff, or at the very least not run the funds through the same account.

I've already got my seed out from all mayzus brokers and I'm only trading with my profits now. It seems that payza is not available for withdrawal anymore so I need to chose another alternative. Bank wire may have higher fees so Maybe I'll chose MoneyPolo!!!