cosmopayment - intercash

[chakka]

Hello,

first..sorry for my not good english. Btw; I have always read tons of threads in this forum and I hope I can find some answer and help to my question/curiosity.

I have been paid, for online job sometime, by an US company through the site ewallet cosmopayment.com.
I have their debit card and Id like know something more about them and how the process works.

So... if I go in their site, we can see that cosmopayment = intercash.com and in the site "intercash" we can read this

"Intercash prepaid cards are issued by various issuing banks. pursuant to license by Mastercard International Incorporated. Mastercard is a registered trademark of Mastercard International Incorporated.

Intercash is an approved Program Manager and Mastercard ISO. "All transfers of funds are processed by Intercash partner banks using the approved Intercash "PrepaidGate" technology. Andaria Ltd. is not, and is not required to be, licensed by the Isle of Man Financial Supervision Commission

Funds may be processed via Complete Solution, MSB registration # M17664559 "

1 question) Intercash = Andaria ltd?
2 question) Intercash and Andaria ltd are not involved in crs of isle of man?

Behind my prepaid card I can read " the card is issued by Paysafe financial service ltd"
and if I check my BIN on binlist.com I can see that that the issuing bank is "Gospodarczy Bank Wielkopolski S.A. (Gbw S.A.)"

3 question) Id like understand better what is cosmoypayment/intercash.. who really issued my card? paysafe ltd or the polish bank?

can someone explain me something better?

really thankyou

 

[chakka]

no one can help me to understand better? 🙁

 

[Tamarind]

Why do you care? Do you work for a Central Bank or a Financial Crimes‌ Unit or what?

How would we know how any and every Institution offering services works‍ and with who?

You are just a card holder using your money. Banking and especially⁠ these digital Banks are a lot more complex then a normal high street Bank, different⁤ rules, different card issuers, limitations on services that they can provider inside their licence means⁣ they have to provide some services through other Institutions.

 

[chakka]

Lol, Im not financial crimes unit.
Id like simply understand better how ewallet works.
and specifically something more about intercash company about crs.
I thought I was in the right‌ forum. sorry

 

[extremedox101]

hi

don't get discouraged 🙂 , we are nice⁠ here and help .
"Intercash prepaid cards are issued by various issuing banks. pursuant⁤ to license by Mastercard International Incorporated. Mastercard is a registered trademark of Mastercard International Incorporated.⁣

i can answer q)3
Paysafe financial service ltd ... is not a bank , so⁢ i think they need any bank to issue your card --- it can be in︀ some remote country
skrill is paysafe company same goes here they choose a bank for︁ cards
and someone else that use intercash site can have different card.

 

[chakka]

thx ^^

but so.. intercash⁣ creates ewallet cosmopayment..where I login and upload ID.
Intercash calls some bank, has some agreement⁢ with that bank.... so that bank can give prepaid cards to intercash/cosmopayment...and cosmopayment send to︀ me.

correct?
But when I go to ATM for cashout money from my card.. money︁ is "in intercash/cosmopayment ewallet"... and that money that i withdraw comes from?.. what? the bank︂ that intercash has agreement with?
so its like I have an account in that bank?︃
or no?

Id like understand better about crs reporting.
If I dont have any account︄ in that intercash bank... when bank will report something..if report... it will never appear my︅ name..right?

really thx for help ^^

 

[extremedox101]

correct

But when⁠ I go to ATM for cashout money from my card.. money is "in intercash/cosmopayment ewallet"...⁤ and that money that i withdraw comes from?.. what? the bank that intercash has agreement⁣ with?
so its like I have an account in that bank?or no?

i don't know⁢ exactly how this company works . but either they keep the money with them or︀ is in the bank

no it's not, but Intercash mostly have account in this bank︁ .

 

[chakka]

but..so..for example.. intercash in their site⁢ write that they dont report anything for crs.. and.. if someone reports some stuff, its︀ the bank. but the bank only can report data about intercash..not about single ewallet user︁ no?...because any users for real have an account with that bank 🙂

 

[Tamarind]

So you think the Bank does not know what Intercash does? Do you think any‌ authority will ask the Bank what and who is Intercash shifting that money to? Everything‍ is logged and reported, every cent needs to be accounted for.

It doesn't matter that⁠ you do not have an account direct with Intercash partner Bank, if anyone asks Intercash⁤ will send all required info and o fcourse the Bank will report all their transactions⁣ that they had with Intercash.

There is no anonymity here, if you are hoping for⁢ that, forget it.

 

[chakka]

i know lol. im only supposing. lol.︀
I supposed it just because intercash declare in their site that they are not under︁ any crs or law of isle of man.
I doubt about it me too, im︂ trying only understand ^^ thx for your help.

 

[Tamarind]

Well so did legendary secretive Swiss Banks, contraband diamonds for their rich USA clients on‌ toothpaste tubes, guess who paid billions to IRS in fees, send all the client names‍ to USA Gov. and was forced to change the Banking Law? 😛

 

[1nomad]

Banks send CRS automatically. Cosmo and many other e-wallets don't send anything for now and‌ even if somebody asks for a report, it is not certain, that they will send‍ something. It depends who is asking 😉

 

[brownham]

good explanation, thank you for your⁢ help.

 

[JohnLocke]

Can some of you with experience using CosmoPayment shed some light if things have changed,‌ how they work today and if the issue with International wire transfers is solved?

Do they still offer a debit card?

 

[BossBabe]

cosmo is for creditcards, you get after verifying a virtual card with san number and‌ after verification (front, back, proof of adress in english!!!! I sent in german and should‍ translate it lol!) you can order a psysical debit card.Without verify you can get one⁠ time money with 250€... Logging in says about transfer this:
Send Money To another Cardholder⁤
Transfer funds from your prepaid card to another cardholder using one of the two functions⁣ below:

1. Card to Card Transfer :
   Send funds to another cardholder using their SAN or⁢ 16-digit card number.
   
2. Email Funds Transfer:
   Send funds to another cardholder using their email address.︀
   

IMPORTANT

• The card currency for both the Sender and Recipent must be the same
  
• Limit per transfer is 495.00 EUR, to a maximum of 2 transfers every 24 hours
  

And the support is slowly....verify documents takes 2-6 days... annoying.

 

[Peacemaker]

Hello BossBabe, I have verified cosmopayment account. Now they told me to send money to my︃ SAN number to be able to order debit card... How to pay on SAN number︄ ? .. Thanks

 

[myhand]

if not now they will be sooner or later, you⁤ already know at this time if you start using them back in 2018 or do⁣ you?