Breaking News: Vector Card Services Kicks Banners Broker Out - Essay Example

Update 1: I just was informed that the card program has not been suspended by Vector Card Services, but Mastercard itself has pulled the plug. Now this is some really interesting thing which should make every Banners Broker affiliate doubt about how real their business is.

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Today Vector Card Services, the provider of the Mastercards for the Banners Broker Ponzi scheme has closed the Mastercard program for Banners Broker members. The following message is visible now if you login to your Banners Broker account:

Dear Banners Broker Prepaid MasterCard Cardholders:

As of today March 13th, 2013, the Banner Brokers Prepaid Card program has ceased to operate. Vector Card Services Limited is contacting cardholders regarding the winding down of the card program.
As of the date of issuance of this email, there will be no further authorization of loads to cardholder accounts and cardholders will have a limited time period to withdraw all funds from the card. As a cardholder you have until Friday March 22nd, 2013 to withdraw all funds from the card.
At the end of this period all remaining funds on the card will be returned to you the cardholder upon completion of the appropriate paperwork and receipt of a copy of your passport.
Our strong recommendation is to withdraw all funds from the card. This is the simplest option to draw down all remaining funds from your Prepaid Card. More information will be communicated to you. A second notice will be sent to you with a link to a full FAQ to address your questions. Please contact your Banners Broker representative for more information.

Vector Card Services Limited

The exact reason for this action is not known yet. There are three possibilities: First, Vector Card Services had realized what Banners Broker is and decided to stop cooperation. Second, Vector Card Services has received too many complaints from not paid Banners Broker victims and shut the card program down. Third, the Canadian authorities decided to step in and start their investigations now.

I contacted Vector Card Services and hope to get a statement for you.