Reserve Proposes Customers to Use Their Business Zelle Accounts to Process Pa...
Reserve, a fintech and cryptocurrency-related exchange and payment processing app, sent an email yesterday to its customers asking for their help in processing payments by leveraging their personal Zelle accounts to do so. This raised certain alarms in the community, that are now wary of a third-party company using their accounts to do its payments on its behalf. Reserve Proposes Customers to Use Their Zelle Accounts for Payment Processing Yesterday, lots of customers were surprised by an email sent by Reserve (a fintech/ cryptocurrency exchange and payment processing company backed by the....
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A new real-time person-to-person payments network dubbed Zelle will see major banks and other financial institutions in the United States sign up in a direct attempt to rival the popular PayPal-owned Venmo platform and catch up with other Fintech startups like Circle. Fundamentally, the system enables users to send and receive money among each other using an e-mail address or a mobile phone number. Zelle will gain a presence as a public consumer application that will see compatibility among several large and prominent U.S. banks. Although details are currently scarce, Zelle will replace an....
A large retail and commercial bank in the United Kingdom, National Westminster Bank Plc, or NatWest, has recently warned its customers that they may be charged negative interest rates. This is the first time a UK high street bank has threatened negative interest rates on customer savings. Natwest Imposes Negative Rates on Business Accounts. For now, the....
The Nasdaq-listed cryptocurrency exchange Coinbase has disclosed that at least 6,000 users were victims of a hacking campaign to gain unauthorized access to the accounts of Coinbase customers. The hackers also took advantage of a flaw in Coinbase’s SMS Account Recovery process to gain access to user accounts. Cryptocurrencies of at Least 6,000 Coinbase Customers Stolen by Hackers Cryptocurrency exchange Coinbase reportedly informed over 6,000 customers this week that their accounts had been compromised and funds were removed. A copy of the letter is posted on the website of....
Lawyers for Bitcoin-24 say the seizure of the European exchange's German accounts has been lifted by the public prosecutor's office in Berlin. "This means that the suspicions concerning our client in relation to the alleged fraud and money laundering could not be substantiated," states a press release from the firm of Röhl-Dehm & Partner. "Our client is now in the process of preparing to make; the first payments from the German account." The release adds, "For the time being these payments may only be made to those customers who have made payments into the account at Commerzbank and have....
The world's biggest Bitcoin exchange Mt. Gox will no longer accept anonymous accounts - the company is determined not to end up the next target of US secret service action. The Japanese exchange, which claims 80 per cent of all Bitcoin trades, said it would continue to allow Bitcoin deposits and withdrawals but any currency transaction will need ID checks. It has taken on more staff to verify accounts and hopes to clear new accounts within 48 hours. The news follows the arrest of five people connected to Liberty Reserve in recent days. The Feds said Liberty Reserve's 200,000 US customers....