iPayout disable TelexFree ewallet services
Just a brief update on this (working on some lengthier articles for later publication).
Earlier today TelexFree’s payment processor, iPayout, pulled the company’s ewallet services offline.
Whereas initially the TelexFree subdomain on the iPayout “GlobaleWallet” server was timing out, it now redirects to a custom 404 error message:
Now, in addition to this, if TelexFree affiliates try to access their account, iPayout are advising them that they have “disabled” the merchant services they provided to TelexFree:
Whether or not any further action will be taken against iPayout is unclear at this stage.
Long-time readers will remember that when the SEC moved in to shut Zeek Rewards down, their payment processor NxPay effectively shut down as funds were frozen across the company.
When it rains, It Pours!
I also expected by now that the main telexfree domain would have a SEC warning of some kind of authorities relay site. Still showing the maintenance logo from TF.
@jobusca SEC haven’t officially moved in, only the FBI, Homeland Securitiy, Immigration and Customs.
The page on display now on the TelexFree domain is a placeholder, which is probably a default screen loaded up when there’s a problem with the server. Ie. if the programmers take something down to work on, the hosting company server detects a disconnect and automatically throws that image up.
If the website server and database have been seized (either onsite at TelexFree or elsewhere), the placeholder image is being generated off the hosting company’s servers.
Pending further changes to the site though, it’s hard to say for sure.
Some (maybe) helpful info:
When I request transfers from ewallet to my bank, the request went into a “pending” status. I asked ewallet what pending meant? They replied the transfers to individual bank accounts had to be approved by Telexfree management. So the accounts appear to be controlled/pooled/owned by Telexfree in some manner.
Given this, its possible Telexfree closed the accounts or stopped paying for them in some way.
Or they could just be shifting the blame over to TF as way to hide that either:
a) They’re in on it
b) They don’t have the money
c) No bank is accepting their transfers
d) Their assets are being frozen.
They are as trustworthy as anything Carlos Costa says.
E-WALLETS AND DEBIT CARDS
E-Wallets are controlled by the merchant (Telexfree). The monies are stored in one big “pool of money” = one big merchant account. The e-Wallets don’t contain any monies in themselves, only information about how much you’re allowed to withdraw from the merchant account.
Prepaid debit cards follow the same logic = they’re controlled by the merchant. They can withdraw money from the merchant account, but they will be affected by freezing of the merchant account.
You don’t STORE money “safely” in an e-Wallet, you use the e-Wallet as a temporary storing place to reduce some transaction costs.
Payouts to the back office are never about money. It’s better to compare it to “monopoly money” = something that only can be used inside a game. If the game is closed, the balance will simply disappear.
The fact that you can use it to pay invoices internally in the game doesn’t make it become real money, and neither does the fact that you can reinvest some of it. Neither does the fact that you can withdraw it to an e-Wallet.
One thing that nobody has talked about yet is the possbility of identities of TF affiliates being stolen or compormised in some way. When my wife joined TelexFree we had to provide sensitive info like SSN and home address. Also, when we were setting up the E-wallet service, they required a driver’s license to be scanned and uploaded to them in addition to the bank account number.
So after we have provided all this info, both TF and E-wallet sites are no longer responding. In addition, they are not communicating with their users at all. How can we trust these sites to keep our private info secure? Kinda scary if you ask me…
Telexfraud, its a kind of God to their teletubbies, how the hell you sing a contract that says: we can make any change in any moment to the compesation plan without advicing?
Telexfreeze changing lives for good.!!!
Check it now and you will see the domain is up for sale
Response iPayout support are sending out to any enquiries about TelexFree:
iPayout “doesn’t work” with TelexFree anymore. That’s a coy way of putting it.
Telexfree was successful for me for over a year. So I focused on it as my primary income source. I signed up customers and even used their mobile app to speak with friends overseas and attended webinars and modified my advertisements.
I fell for it, hook, line, and sinker. I am feeling pretty stupid right now, so there’s no need to point out to me what an idiot I am. I am just trying to pick up the pieces and try not to lose my home.
I think that your feelings of being duped and feeling stupid are shared among many of the promoters of this scam. Many even feel a sense of guilt for getting their friends and family involved and then realizing that their loved ones lost money.
But unless you are ready to refund the losses of the principal investment for those that you directly recruited, you should stop playing victim. Yes those under you weren’t forced to invest in TelexFree, but they invested based on your positive potrayal of this fraudulent company. They trusted you enough to put their skepticism aside and pull out their money.
People that you directly rectruited and that lost their principal investment will alway feel duped and cheated by you unless you do something about it. Even though much of the blame lies with TelexFree mangement, they will always look at you as as the person most responsible for their losing money. It doesn’t matter if you yourself lost your principal investment as well.
So stop crying, sell your house, and pay back those that you fucked. Then you can feel whole again.
hi well i was using the prepaid card until yesterday, i cant withdraw money but i can see my balance online on app from PFS and my balance is ok.
So what can i do? i contacted PFS an they said its telexfree problem but they charge me fees hope anyone can help me thanks.