anyone ever dealt with transpact before?

[rudeguy]

https://www.transpact.com/


Has anyone ever dealt with them before? All kinds of red flags are going up because they are asking for bank account and my birthdate in order to take a payment through them.


Has anyone dealt with them or are they a scam?

 

[BrunoPuntzJones]

The FSA register on the Police site directs to a .gov and this link

https://www.fsa.gov.uk/register/psdFirmNamesCurr.do?sid=264709

With which tradepact is listed. I'd say good to go.

 

[rudeguy]

I've never heard of the FSA before. Is that a UK thing?

 

[FairTrial]

Transpact.com is Europe's leading Escrow service.
They provide world-beating protection, and are highly recommended.

As BrunoPuntzJones has pointed out, you must independently check on the UK Government's FSA agency online register that Transpact.com is authorised and regulated and genuine (which they are).

You cannot get more genuine than Transpact.com.

The reason they ask for your bank account details is because, as an escrow service, they may well have to make payment to you, and they cannot pay you without knowing your bank account details.

As a financial company, they are also mandated by law to 'know their customer', and that is why they confidentially ask for your date of birth and other information (they would rather not have to do this, but the law gives them no choice).

I don't know if you are buying or selling, but the key to Transpact.com is to ensure that the conditions you set and agree to cover you in every eventuality:
If they do then as a buyer you are guaranteed to get everything you were promised from the seller or your money back (one heck of a guarantee).
If they do as a seller then you are guaranteed to get paid 100% in full.

[Declaration - I work for Transpact.com - but it is a great company]

The UK's FSA (Financial Services Authority) is roughly equivalent to the USA's Department of Treasury and/or SEC (Security and Exchange Commission)

 

[rudeguy]

ok...so I'm still scared. I opened up a Chase account with a very low balance to use just for this. That way I can't lose much more than a few dollars.

I will update this thread with my experience either positive or negative.

 

[BrunoPuntzJones]

Ok. But I can't imagine them being shady and linked through the FSA and Metro Police.

But, I do the same thing. Never link my "real" accounts with anything else.

 

[jim1234]

One of the biggest scamming sites i have ever seen. Many many hidden charges. The changes the rules to suit. If they are going to get money they will bend the rules, if they dont get fees they will not budge. They then charge more fees and more fees. My seller got his money after i paid lots of fees only to find he had also been charged. For at $250 transaction from the UK it ended up costing $70 in fees! absolute joke and will be reported to Financial Ombudsman about their conduct. Do not use these guys you have been warned

 

[pauldun170]

New member - Mr Optimism

Transpact.com is Europe's leading Escrow service.
They provide world-beating protection, and are highly recommended.

As BrunoPuntzJones has pointed out, you must independently check on the UK Government's FSA agency online register that Transpact.com is authorised and regulated and genuine (which they are).

You cannot get more genuine than Transpact.com.

The reason they ask for your bank account details is because, as an escrow service, they may well have to make payment to you, and they cannot pay you without knowing your bank account details.

As a financial company, they are also mandated by law to 'know their customer', and that is why they confidentially ask for your date of birth and other information (they would rather not have to do this, but the law gives them no choice).

I don't know if you are buying or selling, but the key to Transpact.com is to ensure that the conditions you set and agree to cover you in every eventuality:
If they do then as a buyer you are guaranteed to get everything you were promised from the seller or your money back (one heck of a guarantee).
If they do as a seller then you are guaranteed to get paid 100% in full.

[Declaration - I work for Transpact.com - but it is a great company]

The UK's FSA (Financial Services Authority) is roughly equivalent to the USA's Department of Treasury and/or SEC (Security and Exchange Commission)

New member - Mr Pessimism

One of the biggest scamming sites i have ever seen. Many many hidden charges. The changes the rules to suit. If they are going to get money they will bend the rules, if they dont get fees they will not budge. They then charge more fees and more fees. My seller got his money after i paid lots of fees only to find he had also been charged. For at $250 transaction from the UK it ended up costing $70 in fees! absolute joke and will be reported to Financial Ombudsman about their conduct. Do not use these guys you have been warned