dch366
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posted on November 8, 2000 09:37:04 PM new
I just went to my Pay Pal/ X.com account and read a post at the top of my checking account page that states that as of December 1, 2000. X.com will be closing their banking with FWNB. Then you have to click on a link to close your account! What is going on????
[ edited by dch366 on Nov 8, 2000 09:42 PM ]
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Shoshanah
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posted on November 8, 2000 09:39:30 PM new
Gravity, my dear Watson...Gravity...What goes up must come down...
********************
Shosh
http://members.ebay.com/aboutme/rifkah/
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avaloncourt
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posted on November 8, 2000 09:48:56 PM new
Is that the sound of the water closet swirling the PayPal/X.com empire off to its new home?
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tc61380
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posted on November 8, 2000 09:49:08 PM new
THIS IS BULLSH T!
I called this happening earlier by the way...;p....paypal closing x.com! If only I could find the thread.
But what kind of crap is X.com pulling now? First with the way they f***ed up paypal and the duplicitous lies and then a denying services without proper notice. Today is November 9. This gives less than 30 days notice. I will never use paypal or x.com again....they obviously do not have the knowledge or savvy or honesty that financial services require.
[ edited by tc61380 on Nov 8, 2000 09:51 PM ]
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furkidmom
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posted on November 8, 2000 10:01:02 PM new
well dang it...I jsut went to my PayPal account and didn;t see anything. I must not be looking in the correct spot. x.com and PayPal are one inthe same, are they not? *cornfused*
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dch366
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posted on November 8, 2000 10:06:49 PM new
Go to the spot on the Pay Pal site where it says "Looking for X Finance?" and click on that to go to X.com--I just checked it again and now they have a full one page deal that explains that any accounts not closed out by December 1 will be closed by them and a check sent to the most recent address you have listed with them. Pay Pal however, will continue, and they are promoting it. I guess with all the money market stuff, international payments, and talk of debit and ATM cards, Pay Pal will be X.com's new "bank".
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tc61380
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posted on November 8, 2000 10:07:14 PM new
http://www.auctionwatch.com/mesg/read.html?num=41&thread=956
A old thread by our friend paypaldamon
mom, it's the x.com bank accounts...which are different from paypal.....x.com used to have bank accounts competing with paypal which are gone now.
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dman3
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posted on November 8, 2000 10:13:37 PM new
click on the link under the login that say looking for x finance you will find the tile that comes up instead of a log in window.
no more deposits as of november 20th and if you dont close the account by dec 1 they will close it and mail you the check balance.
WWW.dman-n-company.com
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uaru
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posted on November 8, 2000 10:17:48 PM new
https://secure.finance.x.com/notice.asp
They aren't going to be offering competiting services anymore.
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tc61380
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posted on November 8, 2000 10:31:56 PM new
This is unbelievably short notice...didn't someone say federal regulations require a minimum of 30 day notice?
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granee
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posted on November 8, 2000 11:20:14 PM new
Unbelievable!!!!!!!!!!!!!!! I hope someone SUES them, or reports them to the FDIC for violations!
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uaru
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posted on November 8, 2000 11:39:05 PM new
"Unbelievable!!!!!!!!!!!!!!! I hope someone SUES them, or reports them to the FDIC for violations!"
Educate me on what FDIC violations they are guilty of breaking.
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rosiebud
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posted on November 9, 2000 05:13:57 AM new
Received: from localhost.localdomain [216.34.52.192] by europa2.mydomain.net with ESMTP
(SMTPD32-6.05) id ADCA4E73029C; Thu, 09 Nov 2000 01:10:02 -0600
Received: from web9.exosc.x.com (web9.exosc.x.com [216.34.52.219])
by localhost.localdomain (8.9.3/8.9.3) with ESMTP id XAA29619
for <[email protected]>; Wed, 8 Nov 2000 23:08:09 -0800
From: [email protected]
Received: from mail pickup service by web9.exosc.x.com with Microsoft SMTPSVC;
Wed, 8 Nov 2000 23:09:51 -0800
To: <[email protected]>
Subject: Important Notice about Your X.com Finance Account
Date: Wed, 8 Nov 2000 23:09:51 -0800
X-MimeOLE: Produced By Microsoft MimeOLE V4.71.1712.3
Message-ID: <[email protected]>
X-RCPT-TO: <[email protected]>
X-UIDL: 245789487
Status: U
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.
Sincerely,
Executive Team
X.com
Executive Team
First Western National Bank
---------------------------
Kinda funny since I had closed out my X.com account when they first started the monthly fees. I shouldn't even be on their mailing list.
[ edited by rosiebud on Nov 9, 2000 05:28 AM ]
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tomwiii
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posted on November 9, 2000 06:10:08 AM new
REPEAT THE FOLLOWING MANTRA:
Pay-Hell SUCKS! and Musk SMELLS!
Pay-Hell SUCKS! and Musk SMELLS!
I recite the above at least 1000 times per day & feel WONDERFUL!
Try it! It works!  
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vargas
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posted on November 9, 2000 06:19:10 AM new
"Educate me on what FDIC violations they are guilty of breaking."
And just how does one break a violation anyway?
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ExecutiveGirl
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posted on November 9, 2000 08:23:00 AM new
Oh, wonderful. 2 days ago I just ordered 2 boxes of checks for my X.com account!
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kimbo
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posted on November 9, 2000 08:41:30 AM new
Be CAREFUL. If you remove x.com/ from your paypal bank account links it will make you go from verifed to UNVERIFIED if that was the only account you have bothered to verify.
Just happened to me, because I wanted to make sure I didn't send any more money over to my x.com/ account now that I need to close it.
Guess I should have left it active a little while longer.
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MrJim
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posted on November 9, 2000 01:45:03 PM new
Educate me on what FDIC violations they are guilty of breaking.
Regulation DD (Truth in Savings Act)
(a) Change in terms--(1) Advance notice required. A depository institution shall give advance notice to affected consumers of any change in a term required to be disclosed under Sec. 230.4(b) of this part if the change may reduce the annual percentage yield or adversely affect the consumer. The notice shall include the effective date of the change. The notice shall be mailed or delivered at least 30 calendar days before the effective date of the change.
Whether or not forcing you to close your account would constitute an "adverse affect" I do not know, but there it is. They are reducing your annual percentage yield to zero by mailing your check, which should fall under this regulation.
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unearthworm
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posted on November 9, 2000 02:33:21 PM new
Is there a web site or 800 number where we can complain to federal banking regulators? I'm glad X.com is going down, but I'd also like to see their executives prosecuted and jailed. (I know, unlikely in the current pro-corporation political climate. But I can dream, can't I.)
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gemtrader2
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posted on November 9, 2000 03:04:03 PM new
X.COM S--- I just opened a account with
USABancShares.com Looks great.
I wish the FDIC Would investigate X.COM
I forgot to ad they have me hoppin mad 
[ edited by gemtrader2 on Nov 9, 2000 03:05 PM ]
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spuddy98
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posted on November 10, 2000 08:55:14 AM new
I use paypal and love it!! As far as online banks like x.com I stay away. For those of you with checks did you have to pay for them?? If you did perhaps you are eligible for a refund. This can be a big issue if everyone gets on board.
Outside of actual $$$ lost this is just part of a business growing and finding it's niche in the market while still surviving. I am glad that paypal is still there. It has made me a ton of money and I entirely associate a lot of this gain with PayPal.
Fast and easy!!
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dman3
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posted on November 10, 2000 09:12:51 AM new
spuddy98
I I have Had an X.com account longer then my PayPal account. Istill use paypal too but I will use it more watchfull now.
Remember It was X.com that bought PayPal not the other way around X.com is folding X.com is the finacial back bone of PayPal how long can it be before PayPal too is gone.
I have seen this may times right in the industry I work in in the weeks to come Pay Pal will be Announceing they have been sold to another backer or that due to a lack of funding it will be ending its service.
If this managment couldnt make it with X.com and FDIC Garenteed How is there None bank service With no goverment garentees for them or there customers going to make a go.
http://www.Dman-N-Company.com
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