All moneys will be paid in full. They are going to concentrate only on credit card processing and e-checks etc.
Dear Valued SecureBuxx Merchants,
>
>
> The management of SecureBuxx has taken the decision to immediately suspend
all transfers to and from merchant sites for North American customers. This
decision was made on the advice of our legal counsel because of the nature
and jurisdiction of our business. Due to recent events, it is the strong
belief of our legal counsel that SecureBuxx is currently operating in an
area that places SecureBuxx and its customer's at risk.
>
> You will be receiving over the next couple of days, a statement of account
from SecureBuxx to your registered address via Fed-ex. Simply sign the
statement of account and return it in the enclosed envelope. Once returned,
a check will be issued to the name on account for the full balance of the
account. Permanent reserve amounts will be returned within 30 days of
account balances being paid. Rolling reserves will be returned after 90
days instead of the stipulated 180 days.
>
> Again, we regret for discontinuing the service but we consider this to be
the most prudent course of action under the current circumstances. We hope
that we can continue to serve your business in another capacity. SecureBuxx
will continue to offer merchant services to its valued merchants from its
new offices in Panama City, Panama. These services include, non-coded
credit card merchant accounts, mass-payments solutions, Electronic Funds
Transfers, and alternative collection services such as MoneyGram. These
merchant-direct products currently account for over 80% of total SecureBuxx
volume.
>
> Over the past two years SecureBuxx has invested over $1,500,000.00
developing a safe and secure online transfer system. Over 35,000 clients
have signed-up at SecureBuxx with 17,000 completing a minimum of 1
transactions for a total of $88,000,000.00 transferred. Credit card
charge-backs, customer fraud, and NSF checks, etc, have made this segment of
SecureBuxx non-viable.
>
> For further info you can email avarvaro@securebuxx.com
>
>
> Sincerely,
>
>
> Anthony Varvaro
> President
> SecureBuxx Inc.
>
Dear Valued SecureBuxx Merchants,
>
>
> The management of SecureBuxx has taken the decision to immediately suspend
all transfers to and from merchant sites for North American customers. This
decision was made on the advice of our legal counsel because of the nature
and jurisdiction of our business. Due to recent events, it is the strong
belief of our legal counsel that SecureBuxx is currently operating in an
area that places SecureBuxx and its customer's at risk.
>
> You will be receiving over the next couple of days, a statement of account
from SecureBuxx to your registered address via Fed-ex. Simply sign the
statement of account and return it in the enclosed envelope. Once returned,
a check will be issued to the name on account for the full balance of the
account. Permanent reserve amounts will be returned within 30 days of
account balances being paid. Rolling reserves will be returned after 90
days instead of the stipulated 180 days.
>
> Again, we regret for discontinuing the service but we consider this to be
the most prudent course of action under the current circumstances. We hope
that we can continue to serve your business in another capacity. SecureBuxx
will continue to offer merchant services to its valued merchants from its
new offices in Panama City, Panama. These services include, non-coded
credit card merchant accounts, mass-payments solutions, Electronic Funds
Transfers, and alternative collection services such as MoneyGram. These
merchant-direct products currently account for over 80% of total SecureBuxx
volume.
>
> Over the past two years SecureBuxx has invested over $1,500,000.00
developing a safe and secure online transfer system. Over 35,000 clients
have signed-up at SecureBuxx with 17,000 completing a minimum of 1
transactions for a total of $88,000,000.00 transferred. Credit card
charge-backs, customer fraud, and NSF checks, etc, have made this segment of
SecureBuxx non-viable.
>
> For further info you can email avarvaro@securebuxx.com
>
>
> Sincerely,
>
>
> Anthony Varvaro
> President
> SecureBuxx Inc.
>
