Changes coming to PrePaidATM... check it out

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Sep 20, 2004
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Policy Changes and System Maintenance

Dear PrePaidATM Cardholders:

PrePaidATM would like to make you aware that we will be conducting a software
upgrade on April 1, 2004 from 12:00am-3:00am EST and the PrePaidATM website will
be down. We apologize in advance for any inconveniences.

PrePaidATM would like to share some exciting news with you! Effective April 1,
2004 PrePaidATM will be increasing the limits for ATM withdrawals and Point of
Sale use with your PrePaidATM card. PrePaidATM is throwing the old limits of
$500 in a 24 hour period and $1,500 in a 5 day period out of the window! The
new limits will be $1,000 in a 24 hour period and $3,000 in a 7 day period!
Some ATM machines may have set their own daily limits less than $1,000 per
withdrawal transaction, therefore multiple withdrawals may have to be made in
order to withdrawal your desired amount.

Due to the confusion and frustration caused by the Patriot Act, effective April
1, 2004 PrePaidATM cardholders that are using their PrePaidATM account to sell
goods and services on Ebay will have to open a Merchant account to do business.
We understand that this is an inconvenience and that is why the $1,000 account
set up fee for the Merchant account will be waived for any cardholder that has
been a cardholder and has done a card to card transfer prior to March 15, 2004.
PrePaidATM will no longer be permitting any cardholders to make transfers to
other cardholders. Merchant to cardholder transfers and cardholder to merchant
transfers will remain the same. If you have any questions please do not
hesitate to email merchants@prepaidatm.com .

As always PrePaidATM appreciates your business!

Thank You-
PrePaidATM Customer Care
1.866.357.7286
 

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<BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>
Due to the confusion and frustration caused by the Patriot Act, effective April
1, 2004 PrePaidATM cardholders that are using their PrePaidATM account to sell
goods and services on Ebay will have to open a Merchant account to do business.
We understand that this is an inconvenience and that is why the $1,000 account
set up fee for the Merchant account will be waived for any cardholder that has
been a cardholder and has done a card to card transfer prior to March 15, 2004.
PrePaidATM will no longer be permitting any cardholders to make transfers to
other cardholders.
<HR></BLOCKQUOTE>

Bullshit. Plenty of debit cards still offer p2p transfers on cards, regardless of the baffling ordeal that FinCEN has made ofthe debit card industry. Using USA-PATRIOT as an excuse to push accountholders into a merchanting arrangement (which typically has higher fees than p2p transfer) is a red herring at its worst.


Phaedrus
 

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