babyfaceforever
Inactive Cam Model
- Oct 17, 2016
- 46
- 61
- 23
- 30
- Twitter Username
- @babyfacecams
- MFC Username
- babyface4ever
- Chaturbate Username
- babyfaceforever
The prepaid card and the virtual account are two very different things!
The prepaid card is issued by Mastercard (even if it has a different branding) and is a standard prepaid credit card, which means the money on the card is guarantueed by Mastercard, not by Choice Bank or FCP. When money is loaded on that card it is actually paid to Mastercard. Mastercard is regulated by US and EU banking rules as a financial institution.
So the money on the card is not part of the restraints Choice Bank is under and can be used till the end of June, per the information supplied.
The virtual account is basically just a spreadsheet at FCP which lists who is owned what money, but that money is most likely in one account (in the name of FCP) at Choice Bank and that money is blocked right now.
Bank accounts and credit cards are technically and legally two very separate things. Choice Bank is regulated by the banking laws of Belize, Mastercard is regulated by a completely different set of laws (US laws for their US company and EU laws for their EU company).
I know it gets confusing at times, especially since the marketing and branding by third party payment processors like FCP does not make it very clear how they operate.
To summarize:
The money on your prepaid card is in your name and held in a bank account from Mastercard.
The money on your virtual account is not in your name and held in a bank account at Choice Bank in the name of FCP.
Thank you for this! I haven't cammed for about 6 months now but I still had a lot of money on that card. I'm useless at finances and the jargon goes way over my head.
The e-mail states that the "Termination Date" is June 30 and it gave me the impression that after that date, I wouldn't be able to access those funds at all. But I should be okay going forward, right? It's a pre-paid card, after all...