x.com to cease operations

Discussion in 'Credit Talk' started by Jenn, Nov 8, 2000.

  1. Jenn

    Jenn Guest

    I just received this email from x.com:

    Dear X.com account holder,

    As part of X.com's continuing product shift to focus exclusively on our
    industry-leading online payment service, PayPal, we are ceasing operation
    of the X Finance business, including the Internet banking division of
    First Western National Bank ("FWNB"), as of December 1, 2000. Please
    close your FWNB account by following the instructions at
    https://secure.finance.x.com/account_closure.asp. Accounts not closed by
    December 1, 2000, will be closed by us on that date and the balance mailed
    by check to the most recent address that you have provided.

    Effective November 20, 2000, we will no longer accept deposits to your
    account, including wire transfers. Please be sure to cancel any direct
    deposits or automatic electronic funds withdrawals you may have attached
    to your account prior to that date. After December 1, 2000, no items
    presented for payment will be accepted, including checks, electronic funds
    transfer requests and debit card transactions.

    Any Certificates of Deposit (CDs) will be redeemed and credited to your
    account on or before December 1, with full interest through maturity.

    Please be aware that repayment obligations under outstanding Lines of
    Credit are unaffected by this action, and payments should continue to be
    made in accordance with the Overdraft Account Agreement at
    https://secure.finance.x.com/help_termsofuse.asp#lending. Additional
    information concerning procedures for future line of credit payments will
    be sent at a later date.

    Mutual Fund Shareholders
    As a result of this action, X.com will be discontinuing the mutual fund
    business of X Finance on December 1, 2000. Please check your fund account
    balance and redeem all your shares on or before December 1, 2000. All
    remaining shareholders of the Funds on that date will have their shares
    redeemed on the following business day (December 4, 2000) at the net asset
    value determined on that date. A check for the proceeds will be mailed to
    the most recent address that you have provided. For more information,
    please see https://secure.finance.x.com/info_prospectus.asp.

    Thank you for your business with X.com Finance and FWNB. We regret any
    inconvenience this action may have caused. To those X.com Finance
    customers who already have PayPal accounts, we look forward to continuing
    our service to you and to meeting all your e-payments needs. To those who
    have not yet opened a PayPal account, we hope you will join the more than
    4 million people and businesses currently using X.com's PayPal to send and
    receive payments online - and now with the opportunity to earn money
    market rates of return, as well.

    Executive Team

    Executive Team
    First Western National Bank
  2. creditwork

    creditwork Well-Known Member

    I received the same e-mail. I had closed the account after their announcement concerning the $12 monthly fee. We still have a PayPal account and encourage all that do not have one to open one. It is a great way to EARN extra rewards from special offers from your credit cards.

  3. sam

    sam Well-Known Member

    SCREW PAYPAL AND X.COM. Anyone who recommends them is a loser. This place screws over their customers time and time again. BOYCOTT PAYPAL use the other services that are available and cost less!
  4. Mike

    Mike Well-Known Member

    I would think that staying away from Paypal is good advice. There are many better personal payment services that offer more than Paypal and have real customer service. Any company that treats it's customers as Paypal deserves to fail. The only advantage that Paypal had is that is was the first on the block...now they will struggle to keep those early won customers as they push many away with their high fees and restrictive limits.
  5. Sorin

    Sorin Well-Known Member

    What other services? Can you give me some examples ?
  6. hd

    hd Guest

    I totally agree! I opened up a Paypal account and have been trying to get "verified" without success. They claim my bank account can not be used for verification or withdrawl funds from, but I can deposit my paypal funds into it. I spoke with a CCR and he told me to open another checking account. Screw him! I'll stick with ecount. Not only are you allowed to deposit $2K every month (without verification) but they also send you a debit/mastercard to use against your account. If you want to shop on line with your ecount account, they automatically give you a mastercard number to use right then. All this for a small fee of $1.00!
  7. Turiyan

    Turiyan Guest

    Dont you think paypals going down? They have a few competitors now. I wouldnt trust paypal as far as I can spit.

    I recieved sign up bonus and referral money from them. No problems.

    I dont know whats going on with paymentalt, but check out Exchangepath:


    No more signup bonus but they pay a $5 ref. bonus.
  8. sam

    sam Well-Known Member


    bunch of places allow payment transfers.
  9. Barb

    Barb Guest

    I agree, I use Exchangepath.com, they are very good and accept way more credit cards then Paypal.
  10. Mike

    Mike Well-Known Member

    Other Person to Person Payment

    Ecount----my favorite now


    Exchangepath---this one is free :)


    Propay---this one is good because you can have a real merchant account with some limitations.




    Emoneymail---real fast payments


    C2It---get $10 for signing up now!


    PayMe---this one is real slow!


    I think that is most of them :)))
  11. Mike

    Mike Well-Known Member

    Avoid PaymentAlt!!!!!!!!!!!!!!

    Avoid www.paymentalt.com for now. Word on the street is that it is a scam. I subscribe to a board where members went to visit them and the news is that it was a shell.



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