Bitcoin Forum
April 21, 2014, 02:39:59 PM *
News: Due to the OpenSSL heartbleed bug, changing your forum password is recommended.
 
   Home   Help Search Donate Login Register  
Pages: [1] 2  All
  Print  
Author Topic: OKPAY debit cards, 10% tax Cyprus debited?  (Read 5488 times)
matt4054
Sr. Member
****
Offline Offline

Activity: 406



View Profile WWW

Ignore
March 18, 2013, 03:41:38 PM
 #1

Hello,

Anyone here has an OKPAY debit card?

My balance has lost 10% of value over the week-end and I highly suspect this to be the result of the events in Cyprus, CSC24Seven being a service of the Cyprus Central Bank. However, I haven't got any confirmation yet from OKPAY, and my card statement is empty (just the balance has been reduced)
1398091199
Hero Member
*
Offline Offline

Posts: 1398091199

View Profile Personal Message (Offline)

Ignore
1398091199
Reply with quote  #2

1398091199
Report to moderator
1398091199
Hero Member
*
Offline Offline

Posts: 1398091199

View Profile Personal Message (Offline)

Ignore
1398091199
Reply with quote  #2

1398091199
Report to moderator
1398091199
Hero Member
*
Offline Offline

Posts: 1398091199

View Profile Personal Message (Offline)

Ignore
1398091199
Reply with quote  #2

1398091199
Report to moderator
Unbeatable Service & Product Support
Grab Your Miners at GAWMiners.com
Order Before April 25th to receive
Double your Hashing Power for 1 week!

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1398091199
Hero Member
*
Offline Offline

Posts: 1398091199

View Profile Personal Message (Offline)

Ignore
1398091199
Reply with quote  #2

1398091199
Report to moderator
1398091199
Hero Member
*
Offline Offline

Posts: 1398091199

View Profile Personal Message (Offline)

Ignore
1398091199
Reply with quote  #2

1398091199
Report to moderator
1398091199
Hero Member
*
Offline Offline

Posts: 1398091199

View Profile Personal Message (Offline)

Ignore
1398091199
Reply with quote  #2

1398091199
Report to moderator
1398091199
Hero Member
*
Offline Offline

Posts: 1398091199

View Profile Personal Message (Offline)

Ignore
1398091199
Reply with quote  #2

1398091199
Report to moderator
davout
Staff
Hero Member
*****
Offline Offline

Activity: 1148


1davout


View Profile WWW

Ignore
March 18, 2013, 04:03:27 PM
 #2

wow, glad I did not follow up on their e-mails to integrate their service into Bitcoin-Central

caveden
Hero Member
*****
Offline Offline

Activity: 1092



View Profile

Ignore
March 18, 2013, 04:11:44 PM
 #3

Davout, in Portuguese there's a proverb that translated is something like "Don't spit up, it may fall back on your face".

France is not that immune from these kind of heists... nobody in the Eurozone is, actually.

18rZYyWcafwD86xvLrfuxWG5xEMMWUtVkL
ArticMine
Hero Member
*****
Offline Offline

Activity: 840



View Profile

Ignore
March 18, 2013, 04:12:57 PM
 #4

It is Cyprus since these debit cards are issued by a financial institution in Cyprus. 10% is high it should be 6.75% below 100,000 EUR and 9.9% above 100,000 EUR so I would contact OKPAY to get the amount withdrawn reduced to the correct amount.

For those wishing to break out of Apple's censorship jail. Here are the keys to your cell: http://allcydia.com/
caveden
Hero Member
*****
Offline Offline

Activity: 1092



View Profile

Ignore
March 18, 2013, 04:14:37 PM
 #5

If OKPay sums everything on a single account of theirs, it might fall mostly in the 10% cut.

18rZYyWcafwD86xvLrfuxWG5xEMMWUtVkL
justusranvier
Hero Member
*****
Offline Offline

Activity: 868



View Profile WWW

Ignore
March 18, 2013, 04:17:31 PM
 #6

France is not that immune from these kind of heists... nobody in the Eurozone is, actually.
Nobody in the world is immune.

The only safe thing is bitcoins at an address whose private keys you exclusively control.

ArticMine
Hero Member
*****
Offline Offline

Activity: 840



View Profile

Ignore
March 18, 2013, 04:20:07 PM
 #7

If OKPay sums everything on a single account of theirs, it might fall mostly in the 10% cut.

The cards are issued by an "electronic money institution" in Cyprus so there may be a case for the lower rate of 6.75% for amounts under 100,000 EUR. https://www.okpay.com/en/company/agreements/debit-cards-tos.html. In any event it should be 9.9% not 10% for amounts over 100,000 EUR.

For those wishing to break out of Apple's censorship jail. Here are the keys to your cell: http://allcydia.com/
matt4054
Sr. Member
****
Offline Offline

Activity: 406



View Profile WWW

Ignore
March 18, 2013, 04:21:23 PM
 #8

I do not want to spread false information, but I just find it surprising that depositors are not informed of what's going on and I think this will only make the bank run scenario more likely: the only thing I can be considering now is whether I will withdraw all remaining funds from my account or not, before they all burn because of some foreign state's bankruptcy.

I will keep you updated of the response from OKPAY. So far they have just not answered it at all.
justusranvier
Hero Member
*****
Offline Offline

Activity: 868



View Profile WWW

Ignore
March 18, 2013, 04:23:40 PM
 #9

I would say a pile of gold coins is pretty safe as well.
It's not possible to memorize a pile of gold coins.

caveden
Hero Member
*****
Offline Offline

Activity: 1092



View Profile

Ignore
March 18, 2013, 04:27:44 PM
 #10

I would say a pile of gold coins is pretty safe as well.

At least while you don't get burgled.

18rZYyWcafwD86xvLrfuxWG5xEMMWUtVkL
ArticMine
Hero Member
*****
Offline Offline

Activity: 840



View Profile

Ignore
March 18, 2013, 04:35:53 PM
 #11

France is not that immune from these kind of heists... nobody in the Eurozone is, actually.
Nobody in the world is immune.

The only safe thing is bitcoins at an address whose private keys you exclusively control.

Was OKPAY not the victim of a Bitcoin double spend? It was only resolved as a result the honesty of the sender of the coins. I wonder what would have happened if the sender withheld 6.75% as a "network tax" when correcting the double spend?

Nothing is actually immune and yes that includes Bitcoin.

For those wishing to break out of Apple's censorship jail. Here are the keys to your cell: http://allcydia.com/
Piper67
Hero Member
*****
Offline Offline

Activity: 868


View Profile

Ignore
March 18, 2013, 04:39:10 PM
 #12

My OKPay account is still at the same level, no 10% discount  Grin

And Bitcoin deposits appear to be back online.
matt4054
Sr. Member
****
Offline Offline

Activity: 406



View Profile WWW

Ignore
March 18, 2013, 04:44:46 PM
 #13

My OKPay account is still at the same level, no 10% discount  Grin

I want to make it clear:

My OKPAY account was NOT debited.
OKPAY is based in the Virgin British Islands, as far as I know.

Only my OKPAY Debit Card balance was debited.
OKPAY used the services of CSC24Seven for their debit card.
And CSC24Seven is regulated by the Central Bank of Cyprus.

I can't tell for sure if it was 6.75% or 9.9%, because the transaction statement is empty (maybe not updated yet)

I hope things are more clear now.
paraipan
Hero Member
*****
Offline Offline

Activity: 924


Firstbits: 1pirata


View Profile WWW

Ignore
March 18, 2013, 04:45:33 PM
 #14

Davout, in Portuguese there's a proverb that translated is something like "Don't spit up, it may fall back on your face".

France is not that immune from these kind of heists... nobody in the Eurozone is, actually.

+1  Undecided

BTCitcoin: An Idea Worth Saving - Q&A with bitcoins on rugatu.com - Check my rep
freakying99
Member
**
Offline Offline

Activity: 106


View Profile

Ignore
March 18, 2013, 04:50:47 PM
 #15

There is nothing worse than propaganda, and bitcoiners are full of it.

As much as i dont like fiat monetary system, before this 10% or whatever cut can be applied, local law must be done and this takes time, so you have time to withdraw your funds.

BTW this is the dumbiest thing that these parrots could come with, it only creates possibility for bank run where there could be game over. Why not just loan (aka create) more money, this proven way is much safer choice and the dumb masses wouldnt mind.
ArticMine
Hero Member
*****
Offline Offline

Activity: 840



View Profile

Ignore
March 18, 2013, 05:01:27 PM
 #16

My OKPay account is still at the same level, no 10% discount  Grin

I want to make it clear:

My OKPAY account was NOT debited.
OKPAY is based in the Virgin British Islands, as far as I know.

Only my OKPAY Debit Card balance was debited.
OKPAY used the services of CSC24Seven for their debit card.
And CSC24Seven is regulated by the Central Bank of Cyprus.

I can't tell for sure if it was 6.75% or 9.9%, because the transaction statement is empty (maybe not updated yet)

I hope things are more clear now.

Can you move what is left of your money out of the debit card and back to your OKPAY account?

For those wishing to break out of Apple's censorship jail. Here are the keys to your cell: http://allcydia.com/
matt4054
Sr. Member
****
Offline Offline

Activity: 406



View Profile WWW

Ignore
March 18, 2013, 05:04:06 PM
 #17

Can you move what is left of your money out of the debit card and back to your OKPAY account?

Yes you can, at a 3% fee.
matt4054
Sr. Member
****
Offline Offline

Activity: 406



View Profile WWW

Ignore
March 18, 2013, 05:23:51 PM
 #18

Here's a follow-up:

Without any information from OKPAY (which I find lame), I called the support line of the Cyprus-based card issuer, and I had a friendly guy on the line from CSC24Seven. After checking my card holder status, he gave me the following information:

The "rogue debit" on the card was indeed initiated by Cyprus authorities because of the ongoing events, they affected all card holders in Cyprus.

However, the card issuer announced me over the phone that these debits would be compensated by the bank, for eMoney card holders, within a week. Since the information that was given to me seemed transparent and credible, and the guy on the phone was obviously having a hard time explaining all this, I decided that I would not withdraw the remaining funds right now and wait for a week.

I will keep you updated, for those interested.
paraipan
Hero Member
*****
Offline Offline

Activity: 924


Firstbits: 1pirata


View Profile WWW

Ignore
March 18, 2013, 06:44:16 PM
 #19

Just received this email a few moments ago, it's related to CSC24Seven

Quote
Cyprus bailout effect
   
Dear Customer,

As you have probably already learned from the news, the Cypriot government is planning to introduce a one-time tax on all customer accounts held with Cypriot financial institution. In order to secure the collection of this tax, many customers have had funds blocked against their accounts held in Cyprus-based banking institutions.

UWC Financial Services Ltd issued a statement confirming that Cyprus bailout will have no effect on the funds held in our customers accounts, as these funds are kept outside Cyprus. For our UWCFS Quick Cards it is regrettable that customers that are holders of the CSC24Seven issued cards will have probably noticed that an unrecognised transaction has been issued on their cards over the weekend 16th-17th March 2013.

CSC24Seven the card issuing bank has originated these transactions under instruction from the government of Cyprus to ensure the collection of this tax from all account holders. While it is still unclear whether the tax will affect all accounts or just savings accounts, bank accounts or specific other types of accounts remains to be confirmed but until the final decision (expected Tuesday 19th March 2013) is announced, the funds blocked on UWCFS Quick Cards are under the control and disposal of the card issuing bank (CSC24Seven).

CSC24Seven has assured UWC Financial Services Ltd, if in the event that e-money (pre-paid card) accounts are granted exclusion from the bailout scheme, the blocked funds will be reversed back to pre-pard card accounts.

UWC Financial Services Ltd are in continued communication with CSC24Seven and we are continually monitoring the situation and endeavour to keep our customers updated on any further development.

You can find more information on the situation in Cyprus in our daily market reviews from Mayzus Investment Company Ltd http://www.mayzus.com/en/market-reviews/marketreview-3444.html

Kind regards,
Nikolay Rozhok
CEO
UWC Financial Services Ltd

BTCitcoin: An Idea Worth Saving - Q&A with bitcoins on rugatu.com - Check my rep
caveden
Hero Member
*****
Offline Offline

Activity: 1092



View Profile

Ignore
March 18, 2013, 07:43:23 PM
 #20

As much as i dont like fiat monetary system, before this 10% or whatever cut can be applied, local law must be done and this takes time, so you have time to withdraw your funds.

No, they don't. The amount that will be taken will be calculated based on last Friday's balance, if I'm not mistaken. Actually, these amounts are already frozen, as OKPay mail above says.

18rZYyWcafwD86xvLrfuxWG5xEMMWUtVkL
Pages: [1] 2  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!