Advcash / Volet update (not looking good).

[Ibus]

You asked directly or that’s a public statement ?


Crazy thing is they used third party processors that was rather strict - negative publicity fucked them

I asked the support team directly

 

[hiju]

Any uopdate on AdvCash are they going belly up and do a Houdini with out money if any left on the account?

 

[uplana]

Situation is still not under control, I would say forget about them, it was nice in all the years they were around, but everything has it's time, seems it is over for AdvCash

 

[offtobusiness]

Just passing through, this type of EMI or whatever should be used only for purpose. If you keep there money you are doing on your own risk. Also this new Volet card have insane fees but also insane limits of 150 000!

 

[jafo]

Just passing through, this type of EMI or whatever should be used only for purpose. If you keep there money you are doing on your own risk. Also this new Volet card have insane fees but also insane limits of 150 000!

Would you care to expand on this?

 

[offtobusiness]

Would you care to expand on this?

Sure! They removed UnionPay card but they now offer Plastic Visa cards in USD. Max car balance is 100k and 500k a year. With that I used ADV only for passing through larger some of money through their service, i never actually kept my money there. I used to load a card and spend in other words. I think that they are making something much much better with this Volet.

 

[jafo]

Sure! They removed UnionPay card but they now offer Plastic Visa cards in USD. Max car balance is 100k and 500k a year. With that I used ADV only for passing through larger some of money through their service, i never actually kept my money there. I used to load a card and spend in other words. I think that they are making something much much better with this Volet.

I'm going to research it further to see how I can make the best use of it, too! Thank you for sharing!

 

[JackAlabama]

Theres this x account where volet is stealing coins coming from coinjoin.
While its easy enough to handle coinjoins going back to a non-cj thing, its still good to know.

At the end, it seems he got his funds tho but its unclear why.

Controversy Erupts Over Volet Allegedly Withholding Bitcoin Funds

Volet is accused of withholding user funds with impossible proof-of-origin demands, defended as regulatory compliance, sparking controversy.

btctimes.com

https://twitter.com/x/status/1810646144868921590

 

[Edge]

Just passing through, this type of EMI or whatever should be used only for purpose. If you keep there money you are doing on your own risk. Also this new Volet card have insane fees but also insane limits of 150 000!

There is a "coming soon" Union pay card, global, same description as the visa card, but the fees are way lower (lower limits though).

To be honest, I like volet for what it is, send bitcoin, load it in your card and spend.

Card is unreliable though, their issuer is viacarte.com, sometimes you load the card it doesn't go through, money gets stuck for hours and then it's returned in your account so you can try again.

So I have it to have it so to speak, I don't rely on it. I mostly use Xapo to spend bitcoin.

 

[jafo]

Theres this x account where volet is stealing coins coming from coinjoin.
While its easy enough to handle coinjoins going back to a non-cj thing, its still good to know.

At the end, it seems he got his funds tho but its unclear why.

Controversy Erupts Over Volet Allegedly Withholding Bitcoin Funds

Volet is accused of withholding user funds with impossible proof-of-origin demands, defended as regulatory compliance, sparking controversy.

btctimes.com

https://twitter.com/x/status/1810646144868921590

Volet and others like them are playing with their lives...it takes one desperate guy to change the course of history!
...and guess what... NOT a single "regulator or politician" will be helping their families who are left behind!

 

[hiju]

There is a "coming soon" Union pay card, global, same description as the visa card, but the fees are way lower (lower limits though).

To be honest, I like volet for what it is, send bitcoin, load it in your card and spend.

Card is unreliable though, their issuer is viacarte.com, sometimes you load the card it doesn't go through, money gets stuck for hours and then it's returned in your account so you can try again.

So I have it to have it so to speak, I don't rely on it. I mostly use Xapo to spend bitcoin.

how can you still have money in there with them after you wrote this ?

 

[Edge]

how can you still have money in there with them after you wrote this ?

I haven't added any money to the account for a while now, I'm basically spending whatever I have there. When the card expires I won't be renewing probably.

 

[wellington]

Just passing through, this type of EMI or whatever should be used only for purpose. If you keep there money you are doing on your own risk. Also this new Volet card have insane fees but also insane limits of 150 000!

True on the limits but spend more than 10,000 a month and you start having issues, and have to go through copious compliance processes.

Theres this x account where volet is stealing coins coming from coinjoin.
While its easy enough to handle coinjoins going back to a non-cj thing, its still good to know.

At the end, it seems he got his funds tho but its unclear why.

Controversy Erupts Over Volet Allegedly Withholding Bitcoin Funds

Volet is accused of withholding user funds with impossible proof-of-origin demands, defended as regulatory compliance, sparking controversy.

btctimes.com

https://twitter.com/x/status/1810646144868921590

That would be their compliance process (LE).

It's like Binance these days by all accounts.

There is a "coming soon" Union pay card, global, same description as the visa card, but the fees are way lower (lower limits though).

To be honest, I like volet for what it is, send bitcoin, load it in your card and spend.

Card is unreliable though, their issuer is viacarte.com, sometimes you load the card it doesn't go through, money gets stuck for hours and then it's returned in your account so you can try again.

So I have it to have it so to speak, I don't rely on it. I mostly use Xapo to spend bitcoin.

I wouldn't sign up for a new account if honest, we were using them commercially based on recommendations on here for payments to India payment processor (union pay) -> loved that aspect but the fuckery and cards becoming useless when you need them etc.

Have a much better service currently via Europe just pay higher fees for our vendor costs when dealing with 2nd/3rd world nation(s).

Still always interested in NON USD/EUR/GBP UnionPay service using Chinese Financial Rails though.

(most of our vendors are in non Western States).

 

[EliasIT]

Have a much better service currently via Europe just pay higher fees for our vendor costs when dealing with 2nd/3rd world nation(s).

What service have you found as an alternative to Advcash services?

Is there anyone who believes that Advcash will ever return to normal operations and offer the same products and services as before? I doubt it. Even though they've implemented a strict KYC policy, it seems like they keep running into regulatory hurdles with financial authorities.

 

[USDT]

Even though they've implemented a strict KYC policy, it seems like they keep running into regulatory hurdles with financial authorities.

What changes have been made to their KYC procedure?

 

[EliasIT]

What changes have been made to their KYC procedure?

That’s kind of a strange question you’re asking, and honestly, it makes me think you haven’t really used AdvCash much, or maybe only for a short period recently!

If you’ve followed AdvCash over the past 8 years, you’d know it’s evolved from being a totally shady operation to trying to become regulated and comply with international laws.

It doesn’t take a lot of insight to see that at some point, they actually started verifying the passports or utility bills they received to check if they were real or fake. Plus, they’ve repeatedly reviewed some of my transactions by asking a bunch of questions, but they’ve never frozen or held the funds.

AdvCash will probably never shake off the reputation they built in the beginning, which is why they’ve had so many issues over the last few years. Once a gangster, always a gangster it never really changes.

 

[USDT]

That’s kind of a strange question you’re asking, and honestly, it makes me think you haven’t really used AdvCash much, or maybe only for a short period recently!

If you’ve followed AdvCash over the past 8 years, you’d know it’s evolved from being a totally shady operation to trying to become regulated and comply with international laws.

It doesn’t take a lot of insight to see that at some point, they actually started verifying the passports or utility bills they received to check if they were real or fake. Plus, they’ve repeatedly reviewed some of my transactions by asking a bunch of questions, but they’ve never frozen or held the funds.

AdvCash will probably never shake off the reputation they built in the beginning, which is why they’ve had so many issues over the last few years. Once a gangster, always a gangster it never really changes.

I have been using them for a long time, but I haven't noticed any significant changes. They regularly request ID and residency verification, usually when ordering a new card.

If they have started questioning transactions, I agree, that’s not a good sign. Of course, assuming that the wallet wasn't topped up with crypto from a questionable source (e.g. mixers).

 

[wellington]

Them questioning the transactions is more about the end user than compliance

I.e those funds flagged up.

Either way things will get more interesting once CAT starts incorporating CEX data for blockchain inbound / outbound transactions

As all federal agencies will have access to - then all non US authorities will also get access via MLAT

At that point tax evasion and routing charges will be levied world wide in unison.

Hence US demand for binance data as the largest direct and indirect counter party coupled with Tether aspects you have the US eating into the replacement Eurodollar market taking it from underneath City of London

Giving them more control on the dollar overseas

 

[EliasIT]

Them questioning the transactions is more about the end user than compliance

I.e those funds flagged up.

Either way things will get more interesting once CAT starts incorporating CEX data for blockchain inbound / outbound transactions

As all federal agencies will have access to - then all non US authorities will also get access via MLAT

At that point tax evasion and routing charges will be levied world wide in unison.

Hence US demand for binance data as the largest direct and indirect counter party coupled with Tether aspects you have the US eating into the replacement Eurodollar market taking it from underneath City of London

Giving them more control on the dollar overseas

It requires a new thread to start discussing CAT, blockchain, and global authorities gaining insight into crypto transactions. This has nothing to do with Advcash. Could you start a new thread so we can have that discussion?