Originally Posted by stnon26s
First off, sorry for copying the whole post, as I'm not good with the snip feature and stuff, lol.
As for the stall tactic with the PP's, I can see that being a valid possiblity. However, those fees are how the pp's make their money. So, if STP or AP wanted to charge the full boat on fee's, what could Nick or anybody else really do about it? The money's in there and the only way to get it out is through them and paying their fees. So, it would actually cost Nick LESS money to drain his STP and AP accounts by completing payouts with the remaining balances because WE the members who are getting paid, will pay the fees to actually withdrawl the funds out, not Nick.
Well exactly BUT if Nick wanted to withdraw a large sum as stated the PP would give him a much better rate, PLUS Nick would make any or perhaps ALL of those fees back with the FEES Energy it's only common sense that he would be bending over backwards to catch up on the nearly 90 days he is behind...
Of course, I dont' know for sure and the best way, like you said is to call STP or AP and see if they offer flat fees for big money transfers/withdrawls.
I don't know enough about STP or AP to judge what and how they do business but I know for a fact that at Paypal your fees are a sliding scale going down with the more activity and volume you do. .and of course for different types of accounts... still sounds like a stall to me.
Again, with the banking stuff, I have no clue, but maybe that's part of why it took 1.5 yrs to get it done, lol.
Hahaha, you are an optimist I like that. The key to the banking lie is that there are very very few places in the world left since 9/11 that will allow just anybody to open a bank and quite frankly those places are NOT places you want to put millions of dollars. Nick has claimed for sometime now the bank option would be opened in The T&C and if anybody takes a quick read of their banking laws they would see two things, one it could not possibly take 1.5 years and secondly IF Nick is going to stick with that claim a simply email or phone will be able to prove if he does or does not have a license.. so its pretty clear he is going to claim he opened it somewhere else now as he is being cornered by people that are digging up more dirt on him. Here's a little snippet for you....please note the bold parts.. makes for interesting reading. Oh my queries in red as per usual.
Financial Services Commission
Turks and Caicos Islands: Banking And Trusteeship
Banking and the administration of trusts are essential ingredients of any well developed financial services industry. As a zero-tax domicile, free of exchange control, TCI is an attractive location for a variety of banking and trust activities.
A TCI bank may cater to the domestic market or serve its existing client base and develop new products and clients internationally.
A TCI trust company may provide a range of services including trusteeship, administration of estates, custody of corporations where the objective of the subsidiary is to undertake investment securities, portfolio management, company management and registrar and transfer agent facilities. A trustee licence is often the most appropriate and cost-effective alternative to a banking licence for many professional firms.
Two types of banking licence are available under Banking Ordinance 1979, updated in 1989: 1) a National Banking License for banking activities within the TCI; and 2) Overseas Banking Licence for banking activities outside TCI.
It is possible to have a combined National and Overseas Licence.
REQUIREMENTS FOR BANK LICENSING
An application for National Banking Licence will be considered only in respect an unrestricted licence of branches or subsidiaries of banks with an established track record P2P has NO established track record of operating a bank
which are subject to effective consolidated supervision by their home supervisory authority, except where the bank is predominantly locally owned and primarily doing business within TCI.
An application for an Overseas Banking Licence will be considered from:
1) branches or subsidiaries of banks with an established & track record subject to effective consolidated supervision; Hmm ok NOT Nick as he does not own a bank anywhere else.
2) banks which, although not subsidiaries, are closely associated with an overseas bank and which, by agreement, will be included within the consolidated supervision exercised by the overseas bank's home supervisory authority; Not Nick he does not have supervision from Canadian or I would assume Russian banking authorities, if he did why 1.5 years for a simple three month process?
3) wholly-owned subsidiaries of major corporations where the objective of the subsidiary is to undertake in-house treasury operations which are fully consolidated within the published financial statements of the parent company. P2P is not a wholly owned sub of any company as Nick points out every chance he gets there is NO company you guys are just "piggy backing" on his personal investment portfolio...
Banking licence applications will be subject to a detailed review. When establishing a bank, the practical considerations are the capitalisation requirement, which is a minimum of $500,000
, legal fees of $10,000, and the structure of the bank. Two main requirements are the submission of a detailed Business Plan and the written consent from the home supervisory banking authority to the establishment of the bank in TCI. So one of the MAIN TWO items for a bank to be opened in The T&C is a written consent from the Canadian banking authorities or whatever country Nick is claiming to be living these days.. what do you think the odds of that happening?
It's pretty clear that Nick is going to have to change his long told story about the bank being registered in the T&C and more so the whole offering interest while it sounds good it is actually the nail in the coffin of the bank fairy tale... keep your eyes on this one IF it ever does launch Nickie is going to wish he never promised this the vultures are circling waiting for him to try this one..