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Thread: alertpay okpay aka how do i get my money

  1. #1
    Senior Member Cosima's Avatar
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    Default alertpay okpay aka how do i get my money

    so since paypal isn't being used by camsites anymore, i've been getting paid with alertpay on SM and OKPAY at MFC. is there a way to put this money in paypal as neither of this allow for a withdrawl to a bank account. i found this site but i don't know if it's a scam http://paycashexchange.info.


    thanks in advance

  2. #2
    Banned Melonie's Avatar
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    Default Re: alertpay okpay aka how do i get my money

    Paypal, after being acquired by E-Bay, was given a new corporate policy directive that transactions involving 'adult businesses' would no longer be accepted / permitted. If Paypal discovers an account being used for 'adult business' purposes, they will freeze it ( and any money in it ! )

    Arguably, the root problems these payment processing services are now experiencing are an outgrowth of the highly publicized recent IRS 'assault' on Swiss bank UBS for non-disclosure of accounts / assets held in the name of US citizens attempting to evade US taxes. Out of that came the recent passage of the US HIRE act, which now basically imposes automatic IRS reporting requirements on foreign banks which are 'handling money' on behalf of US citizens. SM and many other webcam hosts are not US based companies. As such, when a webcam customer spends money at SM or another non-US based webcam host, that money winds up ( initially at least ) in a SM foreign bank account. If the foreign bank wishes to avoid the necessary new IRS recordkeeping and reporting requirements, it can no longer 'handle money' for US citizens. This is the arguable reason that payment processing services can no longer do direct funds tranfers out of the foreign bank accounts of non-US based webcam host companies and into the personal US bank accounts of US citizens.

    So that basically leaves two options open. The first is for SM or other non-US based webcam host companies to cut a paper check to US camgirls ( with the webcam host and the camgirl doing the 'money handling' into the bank account of a US citizen i.e. herself ) ... which is subject to the delays of physical delivery plus foreign check clearance processing. The second is for the foreign bank to do a bank to bank wire transfer to a US bank ( with the US bank then doing the 'money handling' into the bank account of a US citizen ) ... which is subject to high fees.

    Regarding the link you posted to PayCashExchange, this is essentially an 'end run' around the HIRE act IRS foreign bank recordkeeping and reporting requirements re US citizens via the use of a 'non-bank' financial entity actually effecting the cross-border funds transfer to a US citizen. PayCashExchange uses Western Union as the 'non-bank' financial entity. Another well known payment processing service uses MasterCard as the 'non-bank' financial entity. In both cases, a fee is charged for the transfer of funds across the US border.

    I would also add that, under the authority of the 'terrorist anti-money laundering' law / treaty, international funds transfers of this nature are now very closely monitored by US DHS as well as the IRS.

    SM and other non-US based webcam hosts could obviously avoid this US funds transfer problem if they established operations, and corporate bank accounts, in the USA. However, doing so would subject them to having to pay US corporate income taxes at up to a 35% rate ( which would probably turn their business model red ) instead of paying near zero corporate income taxes to the foreign country in which they currently operate.

    While I'm not an attorney or an expert of any sort, my recommendation would be to 'live' with the paper checks. I would also keep check stubs and accurately report all of the money received as income to the IRS, as CYA against the increased probability that the high number of cross-border funds transfers will trigger an IRS audit. And while I can't offer any tangible proof of this, I would be extremely leery of using Western Union for regular cross-border funds transfers ... because the pattern of regular transfers is highly likely to cause 'Suspicious Activity' reports to be filed with the DHS / IRS on top of the reports of the transfers themselves. While everything that PayCashExchange will be doing via Western Union is arguably 100% legal, and while everything US camgirls are doing through non-US based webcam hosts is also 100% legal ( as long as they report this income and pay US taxes ) it could certainly have some negative real world consequences by attracting DHS / IRS attention.
    Last edited by Melonie; 01-21-2012 at 05:08 AM.

  3. #3
    Senior Member Cosima's Avatar
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    Default Re: alertpay okpay aka how do i get my money

    Thanks so much for the information, however I am not a US citizen and my residence is in a so called tax haven, x country in south america and getting anything through the mail is hard. i'm already worried about my livejasmin payout since they use payoneer and i don't think the card will make it through the mail. things usually get stolen or take MONTHS to get here.

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    Banned Melonie's Avatar
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    Default Re: alertpay okpay aka how do i get my money

    ^^^ then you should be able to open a new personal bank account in country X ... via a bank that does NOT have branches / business in the USA ... and set up direct funds transfers into that account from all non-US based webcam hosts. Getting money from US based webcam hosts will remain problematic.

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    Veteran Member Nissim-Payoneer's Avatar
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    Default Re: alertpay okpay aka how do i get my money

    Quote Originally Posted by Cosima View Post
    Thanks so much for the information, however I am not a US citizen and my residence is in a so called tax haven, x country in south america and getting anything through the mail is hard. i'm already worried about my livejasmin payout since they use payoneer and i don't think the card will make it through the mail. things usually get stolen or take MONTHS to get here.
    Hey,

    If you're Payoneer card is delayed or lost in your local postal system, we do allow you to request a card via FedEx/DHL (if supported in your area). We don't charge for it, though youou would need to cover the shipping costs. You can contact our customer support department for more details.

  6. #6
    Banned Melonie's Avatar
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    Default Re: alertpay okpay aka how do i get my money

    While not wanting to tout one payment processing service over another, it's just a straight-up fact that Payoneer's structure of using a Belizian bank MasterCard debit card account for channeling payments to camgirls is likely to be the least 'problematic' where new international banking regulations / issues are concerned.

  7. #7
    Senior Member Cosima's Avatar
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    Default Re: alertpay okpay aka how do i get my money

    Quote Originally Posted by Melonie View Post
    ^^^ then you should be able to open a new personal bank account in country X ... via a bank that does NOT have branches / business in the USA ... and set up direct funds transfers into that account from all non-US based webcam hosts. Getting money from US based webcam hosts will remain problematic.
    i tried doing that with alert pay but they don't seem to support withdrawls into banks in south america or the US, it only works with European banks apparently when I called a customer service representative. And on OKPAY it's been over a week that I have been trying to get verified to able to withdraw my funds into my US bank account and I haven't gotten verified. Or do you think since I have a US bank account it's not even going to work?

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    Banned Melonie's Avatar
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    Default Re: alertpay okpay aka how do i get my money

    Or do you think since I have a US bank account it's not even going to work?
    As I said earlier, since the first of the year new IRS reporting requirements are now in place that potentially apply to all foreign banks that transfer funds across the US border into the accounts of US individuals. Whether this is the reason that all of these new 'problems' are cropping up for webcam payment processors or not, nobody knows for sure. However, it's highly 'coincidental' that the vast majority of reported problems have ONLY been with US funds transfers.

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