— Huge fees and difficult to open

Today I saw the payment option for the first time. Before you invest the time to open an account, read about their ludicrous fees and procedures. I couldn’t find any terms or the user agreement except some very limited info at

MyPaylinQ Inc. Disclaimer.

MyPaylinQ is not a bank and does not provide any banking services (deposit services, card issuance etc).

MyPaylinQ is not a subject to banking regulations of any country and is not insured by any government agency.

MyPaylinQ does not insure any product or service purchased by the account holder. MyPaylinQ does not guarantee delivery of any goods or services purchased by the account holder.

MyPaylinQ is completely offshore structure and acts in full accordance with the laws of the country of registration.

This service is independently operated and is neither endorsed by nor affiliated with Western Union, MoneyGram, VISA, MasterCard or any other company or brand. In the event of any questions about this service and/or your order, you should contact us immediately. Please do not contact Western Union, MoneyGram or others as they will not be able to help you with any issue relating to MyPaylinQ service.

MyPaylinQ does not monitor or review the content of other party’s websites which are linked to or from this website. Opinions expressed or material appearing on such websites are not necessarily shared or endorsed by MyPaylinQ.

To the fullest extent permitted by law, MyPaylinQ excludes all representations and warranties relating to this website and its contents, including in relation to any inaccuracies or omissions in this website; and excludes all liability for damages arising out of or in connection with your use of this website. This includes, but not limited to, direct loss, loss of business or profits or any indirect, consequential and incidental damages.

I like short terms, but was hoping to find the fees and who they are.  The main office is located in Costa Rica.

From the “Consumers” tab (no URL to copy):

MyPayLinQ offers consumers the ability to obtain an Account instantly.

Personal Accounts may be used to:

* Shop online safely and securely where MyPaylinQ is accepted
* Send and receive funds between MyPayLinQ Account Holders instantly
* Make purchases at retail locations where major credit cards are accepted

To obtain a PaylinQ Personal Account, please sign up.

Your PaylinQ Personal Account can be funded with the following load mechanisms:

* Major credit cards
* Bank debit cards and pre-paid cards
* Personal checking account
* UKash vouchers (UK and Europe only)

I decided to open an account.

Still didn’t see fees and did the online chat:

[Christine] What are the fees?

[CSRep08] Welcome to Customer Support!

[Christine] hello?

[CSRep08] Christine Fees for MasterCard and Visa deposits are currently subject to a 7.5% processing fee.

[Christine] holy cow
[Christine] Do you have your terms and how this works anywhere online?

[CSRep08] Christine in we have general information, under consumers, and funding options tab.

[Christine] thanks

So I checked the funding options and fees and apparently it is 7.5% for funding with a credit card and that’s the ONLY option I found.

And, before I can fund the account, I have to fill out a “credit card registration” and fax a copy of credit card, ID, proof of residence such as recent utility bill and online statements are NOT acceptable.

Ok, so you jump through umpteen hoops and you can finally eventually deposit funds in your account.

What happens when you want to WITHDRAW money?

You have to pay ANOTHER 2.5% + plus more huge fees to have them send you a Moneygram or money order.

They fleece you coming and going!

Why would anyone use

One Response to “ — Huge fees and difficult to open”

  1. I have to say, this is NOT a paypal alternative.

    This is for people who do a lot of money movement without being tracked retarded paranoid governments like the USA’s. Their fees are very reasonable and their service is impeccable.

    If you dont know why someone would use this… you arent in the RIGHT business.

    Paypal will sell you out for a penny.

Leave a Reply

You must be logged in to post a comment.