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Topic: OKPAY debit cards, 10% tax Cyprus debited? - page 2. (Read 10036 times)

legendary
Activity: 1946
Merit: 1035
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.
legendary
Activity: 1946
Merit: 1035
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.
legendary
Activity: 2282
Merit: 1050
Monero Core Team
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?
sr. member
Activity: 429
Merit: 250
Pythagoras and Plato are my brothers.
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.
legendary
Activity: 924
Merit: 1004
Firstbits: 1pirata
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
legendary
Activity: 1946
Merit: 1035
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.
legendary
Activity: 1106
Merit: 1001
My OKPay account is still at the same level, no 10% discount  Grin

And Bitcoin deposits appear to be back online.
legendary
Activity: 2282
Merit: 1050
Monero Core Team
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.
legendary
Activity: 1106
Merit: 1004
I would say a pile of gold coins is pretty safe as well.

At least while you don't get burgled.
legendary
Activity: 1400
Merit: 1013
I would say a pile of gold coins is pretty safe as well.
It's not possible to memorize a pile of gold coins.
legendary
Activity: 1946
Merit: 1035
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.
legendary
Activity: 2282
Merit: 1050
Monero Core Team
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.
legendary
Activity: 1400
Merit: 1013
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.
legendary
Activity: 1106
Merit: 1004
If OKPay sums everything on a single account of theirs, it might fall mostly in the 10% cut.
legendary
Activity: 2282
Merit: 1050
Monero Core Team
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.
legendary
Activity: 1106
Merit: 1004
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.
legendary
Activity: 1372
Merit: 1008
1davout
wow, glad I did not follow up on their e-mails to integrate their service into Bitcoin-Central
legendary
Activity: 1946
Merit: 1035
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)
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