The Ko-Kard service is getting worse and worse. A while back credit card payments took 5-7 days to clear to the recipients card, then 7-10 days, then 14 days - basically each payment getting slower than the previous. Now (December 2014) its 17 days (and still counting). I for one am giving up on what could have been an excellent way to make remittances to the Philippines.
I signed up for this site because they advertise very affordable rates for paying virtual assistants in the Philipines. They advertise a flat fee rate of $4.95 per transaction.
I registered my bank account to make those inexpensive transfers, had my employees register for thier cards and attempted to pay them via bank transfer.
The first transaction I attempted took over 13 business days when their advertised time is 5-7 business days. I had to pay my employee via paypal in order to satisfy my obligation. Luckily the employee continued to work for me and I could re-coop my double payment.
On another transaction, I had to switch the transaction to a more expensive kind, via credit card, in order to pay my employee because the origianl flat fee of $4.95 payment was never made.
I tried several more times to give this company a chance and I had 3 transactions PENDING for over 1 month. Because these were final payments to former employees I was unable to switch the transaction.
The employees emailed Ko-Kard and were given these responses:
Hi Steve,
Thank you for your email.
We would like to inform you that there has been a holdback on processing due to the holidays in the US on November 27 and 28. In addition, due to typhoon, our banking partner have suspended banking operations today so we expect to have an update tomorrow morning as to the re-opening of banking operations.
As soon as we received the fund transfer confirmation from the bank, your payout will be loaded to your ko-kard. We will notify you immediately once completed.
Should you have further questions, please do not hesitate to contact us.
Best Regards,
Kimberly
ko-kard Support
www.ko-kard.com
And this email:
Hi Steve,
We apologize for the delay on this.
We have already made a follow-up with regard to the processing of your payout however, we did not receive the fund transfer confirmation from the bank yet. We are expecting for an update from the processing bank within this week.
We appreciate your patience. Should you have further questions, please do not hesitate to contact us.
Best Regards,
Kimberly
ko-kard Support
www.ko-kard.com
I had two emails go unanswered and it took several phone calls to finally get them to process the 3 transactions that had been pending for almost a month.
They had the use of my money for almost a month while the transactions were PENDING--I assume that's their game. Although it was a small amount of money, approximately a total of maybe $300, I was anxious to inform the internet of this situation because if they are doing this with all their customers then that is a considerable amount of fraud.
The fraudulent activity is two-fold: 1. Bait & Switch--Bait with a low transaction fee and switch to a higher transaction fee in order to get the job done. 2. Use of the money of customers while holding them hostage to PENDING transactions.
I would not recommend this service to anyone or be one of its affiliates. (I was originally introduced to the site via an affiliate.)
Ko-Kard Reviews
The Ko-Kard service is getting worse and worse. A while back credit card payments took 5-7 days to clear to the recipients card, then 7-10 days, then 14 days - basically each payment getting slower than the previous. Now (December 2014) its 17 days (and still counting). I for one am giving up on what could have been an excellent way to make remittances to the Philippines.
I signed up for this site because they advertise very affordable rates for paying virtual assistants in the Philipines. They advertise a flat fee rate of $4.95 per transaction.
I registered my bank account to make those inexpensive transfers, had my employees register for thier cards and attempted to pay them via bank transfer.
The first transaction I attempted took over 13 business days when their advertised time is 5-7 business days. I had to pay my employee via paypal in order to satisfy my obligation. Luckily the employee continued to work for me and I could re-coop my double payment.
On another transaction, I had to switch the transaction to a more expensive kind, via credit card, in order to pay my employee because the origianl flat fee of $4.95 payment was never made.
I tried several more times to give this company a chance and I had 3 transactions PENDING for over 1 month. Because these were final payments to former employees I was unable to switch the transaction.
The employees emailed Ko-Kard and were given these responses:
Hi Steve,
Thank you for your email.
We would like to inform you that there has been a holdback on processing due to the holidays in the US on November 27 and 28. In addition, due to typhoon, our banking partner have suspended banking operations today so we expect to have an update tomorrow morning as to the re-opening of banking operations.
As soon as we received the fund transfer confirmation from the bank, your payout will be loaded to your ko-kard. We will notify you immediately once completed.
Should you have further questions, please do not hesitate to contact us.
Best Regards,
Kimberly
ko-kard Support
www.ko-kard.com
And this email:
Hi Steve,
We apologize for the delay on this.
We have already made a follow-up with regard to the processing of your payout however, we did not receive the fund transfer confirmation from the bank yet. We are expecting for an update from the processing bank within this week.
We appreciate your patience. Should you have further questions, please do not hesitate to contact us.
Best Regards,
Kimberly
ko-kard Support
www.ko-kard.com
I had two emails go unanswered and it took several phone calls to finally get them to process the 3 transactions that had been pending for almost a month.
They had the use of my money for almost a month while the transactions were PENDING--I assume that's their game. Although it was a small amount of money, approximately a total of maybe $300, I was anxious to inform the internet of this situation because if they are doing this with all their customers then that is a considerable amount of fraud.
The fraudulent activity is two-fold: 1. Bait & Switch--Bait with a low transaction fee and switch to a higher transaction fee in order to get the job done. 2. Use of the money of customers while holding them hostage to PENDING transactions.
I would not recommend this service to anyone or be one of its affiliates. (I was originally introduced to the site via an affiliate.)