ExoticFx, problems again?

You already know that recently the administration of ExoticFX has added a Bank Wire payment option, and apparently this addition brought many investors to this company. There are some advantages of using a Bank Wire option instead of e-currencies. First of all, you can deposit with 10 different currencies and with zero fees (other than those imposed by the bank + exchange cost for USD conversion). The administration said it takes from 1 to 5 business days to process wires, but actually they generally arrive the next day and some of them even the same day.

The next announcement concerns the minimum withdrawal amount. On May 18 the administration has raised the minimum withdrawal up to $2. This was done for a couple of reasons. First of all, the program is growing so large and considering the number of daily withdrawals they needed to cut down on the load. And second of all, ExoticFX is still having problems with the Liberty Reserve API. The administration comments:

“We tested it again last night, and although we were able to use the API to make payments, we had to make them in groups of 5 or less and also force the API to delay between each payment in order to avoid the double payment problem we experienced 2 weeks ago. However, we still have a timeout issue whereby on occasion LR doesnt return the batch numbers and we then have to manually enter them. This is tedious and frustrating to say the least.”

By the way, at some point in the future, the required deposit amount is also going to be increased to eliminate the extreme-micro participants. It is promised not to be raised much. Perhaps first to $25 then to $50 and finally to $100. In such a way the administration wants to “thin the membership of those that have no desire to progress with the program”. They have also finally reported on a problem with AlertPay and promise that this issue will be resolved soon and AP account holders will be able to use its services this week.

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