SolidTrust Pay Intl Debit Card
STP Intl. Mastercard No More
SolidTrust Pay On the 4th of October 2013 sent out a newsletter to its International Debit Card Mastercard program users stating the the program was on hold. The update (which you can read below) goes on to say that all the funds in should be withdrawn within 20 business day after that all accounts will be closed. So obviously not on hold but over.
This came as a surprise to me but they always have additional withdrawal options if the money is needed with urgency, keep reading below to get the complete details.
Here is the official update :
STPay – INTL Debit Card Program
I am writing to inform you that the INTL Debit Card program is on hold at the moment. Please note we have decided to replace the program with a lower cost, better option alternative that will be available very soon. Once the new program is available you will be receiving a brand new card at no extra cost. The new program will not be with Loyal Bank. Loyal Bank has notified STPay that clients will have 20 business days to remove all funds from their Loyal Bank account. After this time your account will be closed. We apologize for the inconvenience.
Please DO NOT respond to this email as it is only for information and will not be responded to. Once more information is available you will receive another email.
STPay Debit Card Manager
All pending debit card transactions from STP to the debit cards were cancelled and even those that were already showing as completed like mine as far back as the 25th September. Many members have reported having their withdrawals cancelled, this is obviously due to the fact LoyalBank and STP won’t be working together anymore.
I personally didn’t like the LoyalBank interface, neither the fees and the backoffice wasn’t user friendly at all. I am looking forward to something more reliable and professional, hopefully this will turn out to be something good for all those stp members using the International Debit Card program.
It is the end of STP?
In this industry panic is the reaction of choice when something changes, so people are asking if this is the end of SolidTrust Pay and just a way to delay, to ‘steal’ our money, blah blah blah.
From what I understand they just need a new bank and everything will be fine. Keep in mind that the USA Debit Cards, BankWires, Credit Card Wiithdrawals and all the other features are working completely fine. If you need your funds I would suggest using a different withdrawal method or simply using one of the STP Verified Exchangers.
As usual feel free to share your thoughts with me and the rest of the world about STP International Debit Card program closure decision by using the comment section below.