Latest Update from Dubai..
Hi all,
Answers to your questions and updates from today's meeting with Charles
1) The new TM bank should be up and running within the next 4-6 weeks but Charles couldn't say how long it will be before the cards are distributed. We will be updated once he knows more
2) There will be a section on the website to upload your proof of address and ID, the cards will be distributed to this address
3) The new TM bank will be based in either Switzerland or the US the advisors are currently working on what would be best.
4) I know all of us thought that this happened quite quickly and are wondering why we weren't notified sooner. Charles said that he has been working on the TM bank for the past 2 months but he wasn't planning on disclosing this until it had all been finalized but somehow PayPal got wind of the fact he was opening the TM bank so started acting funny, he therefore had to act quickly which is why this has all happened so suddenly. It was not how he planned for this to be rolled out.
5) Currently there is $91k in Payza & TM pays out approx $600k in withdrawals, the issue is Charles can only transfer a max of $250k per day to Payza which is why there is at times issues with withdrawals. There's nothing that can be done about this so he asks that we be patient whilst he gets the money transferred in. In the meantime he is thinking of limiting members to only one withdrawal per week so he isn't constantly paying catch up ergo putting an end to all the withdrawal issues but nothing has been decided as yet.
6) There is approx $6k in the Solid Pay Trust account as Charles' bank has identified wrongly that they are a gambling site therefore transfers to them are prohibited. This means that TM can only pay out through Solid Pay Trust what has been received in sales.
5) Charles showed us the TM account and there is $11mil on members accounts. There's $51mil in the PayPal account of that PayPal is holding $21mil to cover themselves and any potential withdrawals whilst we are in transition. TM is not in trouble far from it we just have to patient as in terms of the inter bank transfer rules it is what it is.
6) Meetings on the East Coast in the US - there's no plans for formal meetings but Charles said if you want to host meetings it's fine you just need to obtain the presentation and be approved as a presenter. You can tailor the presentation to your style but you must stick to the slides and ensure that content is covered and isn't altered. If you have a meeting room of over 100 people Charles and Immy will pay for the meeting room. — feeling excited.
Hi all,
Answers to your questions and updates from today's meeting with Charles
1) The new TM bank should be up and running within the next 4-6 weeks but Charles couldn't say how long it will be before the cards are distributed. We will be updated once he knows more
2) There will be a section on the website to upload your proof of address and ID, the cards will be distributed to this address
3) The new TM bank will be based in either Switzerland or the US the advisors are currently working on what would be best.
4) I know all of us thought that this happened quite quickly and are wondering why we weren't notified sooner. Charles said that he has been working on the TM bank for the past 2 months but he wasn't planning on disclosing this until it had all been finalized but somehow PayPal got wind of the fact he was opening the TM bank so started acting funny, he therefore had to act quickly which is why this has all happened so suddenly. It was not how he planned for this to be rolled out.
5) Currently there is $91k in Payza & TM pays out approx $600k in withdrawals, the issue is Charles can only transfer a max of $250k per day to Payza which is why there is at times issues with withdrawals. There's nothing that can be done about this so he asks that we be patient whilst he gets the money transferred in. In the meantime he is thinking of limiting members to only one withdrawal per week so he isn't constantly paying catch up ergo putting an end to all the withdrawal issues but nothing has been decided as yet.
6) There is approx $6k in the Solid Pay Trust account as Charles' bank has identified wrongly that they are a gambling site therefore transfers to them are prohibited. This means that TM can only pay out through Solid Pay Trust what has been received in sales.
5) Charles showed us the TM account and there is $11mil on members accounts. There's $51mil in the PayPal account of that PayPal is holding $21mil to cover themselves and any potential withdrawals whilst we are in transition. TM is not in trouble far from it we just have to patient as in terms of the inter bank transfer rules it is what it is.
6) Meetings on the East Coast in the US - there's no plans for formal meetings but Charles said if you want to host meetings it's fine you just need to obtain the presentation and be approved as a presenter. You can tailor the presentation to your style but you must stick to the slides and ensure that content is covered and isn't altered. If you have a meeting room of over 100 people Charles and Immy will pay for the meeting room. — feeling excited.