OMNIPAY AND E-G UNETHICAL AND FRAUDULENT
This goes out as a warning to everyone about Omnipay and E-G and is based on my direct experience with these two sister entities. I will be honest, I truly thought that E-G was possibly a great solution to move value around while being pegged to a decent commodity. I even gave serious thought of opening up a solid exchanger that had an authentic twist to it that would add much credibility to E-G and would also help a lot of people in the process. I thought if I was going to be an exchanger I should first dip mi toes with an In-Exchange with Omnipay, since they are they main broker for E-Gold. It took about a month to go through the entire authentication process by Omnipay to prepare for my In Exchange, mostly do to a long wait for Address Verification. I finally had done it all and so I went for my In Exchange…The InExchange order was placed and accepted on Dec. 22, 2006. Wired funds were sent to them on the 8th of Jan. 07 and they promptly communicated to me that they received my funds on the 9th of Jan 07. That is when their truly Unethical Scam games began.
Please allow 24-48 business hours for the wire to clear and 1-5 business
days thereafter for your order to be processed. (Most InExchange orders can
be fulfilled within 2 business days.)
Thank you for using Omnipay
Omnipay Customer Support 1
I promptly wrote back:
Sir could you please identify yourself?
First, wires do not need any time to clear...They are deposited as funds free and clear from the second the wire arrives.
Second, please indicate where it states that policy of 1-5 business days there after or the 24-48 hrs? I honestly could not find them anywhere in your terms and conditions. This is absolutely not acceptable unless you are planning on paying interest at a decent rate.
You also say most InExchange orders can be fulfilled within 2 business days. It has now been 3 business days since you recieved my funds, why has what you are saying not being fulfilled?
For which I did not merit a reply.
On the 18th of January a full 9 days after they already had my funds I sent another support Inquiry and got a response:
Question: Dear Sir, I am extremely concerned about your
> customer service.
> I would like the following answered in order please:
> 1. What is the name of the person responding these
> questions(identify yourself with first and last name).
For security reasons we do not use names.
> 2. Why has my order not been paid if you already recieved
> funds on 1-9-07?
> 4. You have also stated that most In Exchanges can be
> fulfilled in 2 business days, why has this not been the case
> in this transaction?
Please allow us to research this case and reply later today with an answer.
We do not have all the information at our disposal at the moment, but it
would seem that the order has taken an unusually long time to process.
> 3. If you contend that you have a policy of waiting 1-2 days
> for wires to clear and 5 business days thereafter,a) please
> explain where in the terms and conditions this appears? and
> b)we all know that wires do not need to clear, so what is the
> real reason for the first wait?
The above timeframe for order processing has evolved out of practice and is
subject to change. It is determined by a number of factors; customer-related
due diligence, order size and market availability are the most important
By clearance time we mean the time it takes for the remitter's funds to be
credited to the beneficiary's account after they have been debited from
remitter's account. Most banks have a more or less standard value date for
domestic vs. international transfers, though some will allow you to purchase
accelerated ones; for international wires, it is usually 48 hours, but this
depends mainly on the remitter's bank (e.g. their access to the wire network
used) and how the wire is sent (the coordinates used, the value date
specified) Traffic in the wire network, the number of intermediate banks
required, addressing of wire, and availability of funds can determine the
banking system's processing time.
***61656; Note: Can you believe this crock? Everyone knows a wire is liquid funds to the account that it is supplied. Where do they get this BS?
> 5. If Omnipay/E-gold.com want to be considered a legitimate
> currency or payment system, how can you carry on and justify
> the seedy practice of retaining peoples funds unannounced
> without payment of interest or any compensation?
It is necessary to in general, but not invariably, take up to 5 business
days to process InExchange transactions because of the due diligence
requirements (since 2001) and market conditions we are subject to. As noted
above, the stated time interval is flexible, can be shorter or longer
depending on the circumstances, and not every factor mentioned here
necessarily comes into play in every case.
We regret any delay experienced with your current order and will be happy to
work with you if it appears that such delay is our responsibility.
Then shortly alterwords I get this:
We cannot fulfill this exchange because there is a value limit on account
xxxxxx. Please contact the Due Diligence Unit, via the Contact icon
accessible on many pages of the e-gold.com website, for assistance (select
'Other Compliance and Investigations Communications' from the dropdown)
I sent various inquiries to E-G:
Question: Please remove value limit in my account above so that your company omnipay, that has already verified my own freaking funds and held too long
can deposit my own funds in this account. You can also send me information
and disclose: a)what your value limit policies are? b)why I was put on value
limits? and c) please indicate to me where in the TOA value limits
disclosures appears? Regards,
In order for us to remove the block from your account we will need notarized
due diligence documents. Please mail (or preferably, use a courier service
such as Fed Ex or DHL) original notarized copies of all of the following
a) A signed and notarized affidavit listing: Name, address, and telephone
number for the owner of e-gold account # XXXXX
b) Copy of a telephone or utility bill that has the same address stated in
c) Notarized copy of Passport or Driver's license for the account owner.
Gold & Silver Reserve, Inc
175 East Nasa Blvd.
Melbourne, FL 32901
Attn: Due Diligence Unit
Due Diligence Unit
Can you believe this crock of BS? I waited over a month to even have my address verified by Omnipay and now the sister company which shares the same ownership and is at the same address as E-G wants to verify me? I am not even stateside so the costs and time to do all this crap are totally prohibitive.
So I carefully send E-gold an inquiry about my other E-G account from a different E-Mail to make sure it does not have a “Value Limit” on it. I get back that it does not. I carefully register the E-G account into the same Omnipay account and once verified I tell them to Move the actual initial In Exchange into my other approved E-G account. I even mention the exact amount of E-G they had to deposit and I said I would bring a whole lot of heat down on them if they did not comply. Guess what these bastards did? Now that they had my money almost a full month to play with and now that Gold went the opposite way for them, it went up from 633.11 when I placed the order to 667.08 today, they decided to send the money back from where it came from minus a hefty wire fee. Can you believe the integrity of these crooks and liars?
A fair word of warning, be extremely careful if you are going to get into bed with these blood thirsty bedbugs. Plus everyone already knows that there are too many thieves,’ crooks, and liars just itching to separate you from your E-Gold. Just stay away.