Dear Partners and Visitors of MySystemX,
It has been 3 weeks since the last newsletter, but not because we were on holiday, because we were intensively working in the background on interface implementations to the broker and further improvements in the member area. We have some important announcements regarding bank account withdrawals of your commissions and some other updates:
First commission Run
Last Tuesday we received the first commission payment from the broker and added them to all our partners’ accounts.
We had a small problem with the emails, unfortunately inaccurate or wrong emails were sent, our apologies for this, please refer to your back office only, for data regarding commissions as this information is accurate. Please also, be reassured that the problem with the emails has been fixed and from Monday onwards you will receive accurate information.
For clarification, all amounts paid are in $, there seems to have been some confusion about this as we received some support tickets from partners thinking that they were paid too much commission. To these members, I would like to say thank you for letting us know and being honest, it is reassuring to know that there are members who would let us know if there was an issue with anything on the platform.
With the code update today, sever small bugs on the dashboard and the success ladder page have been fixed, so the data is now showing correct values to all our partners.
Commission Transfer to the Broker
The transfer to the broker is enabled now and you can create a transfer request on your account operations page (Member Pages – Account).
As soon as you request a transfer, our compliance team will check if all your details are correct and that documents provided meet all criteria. Even you have already been verified, a double check is always required to protect you and us for anti-money laundering reasons, it may have been that there was a mistake on the verification, which can happen from time to time.
Please note that after your first successful transfer, no further checks by our compliance team is required, unless, of course, you lose your verification status because of changes to your personal details, which would mean the account having to be re-verified.
To withdraw your commissions, you can use the Bank Transfer option or Bitcoin.
Firstly, you need to add your payment details on the Security Settings page.
For bank accounts, a verification from our compliance department is required and normally takes no longer than 24 hours (excl. weekends). Once verification is complete you can request a withdrawal on the Account Operations page, which will be handled by us normally within 24 hours. For compliance reasons, we must do another check on your verification documents, particularly on bank transfers to comply with new requirements and for anti-money laundering reasons.
We had an audit with a compliance officer and to protect you and us, we need to review all verification documents again to re check the quality of the documents. Apologies for any inconvenience, but we are now not allowed to accept any driver’s licenses and the proof of address must be a utility bill (mobile is allowed, unless it is a prepaid contract), bank statement, credit card statement, proof of registration with official stamp or insurance statements. The best is always a bank statement as you need them for bank account verification anyway.
By end of July we should have the possibility to allow every partner an anonymous debit card which can be directly linked with their back office, this means partners will have their own debit card wallet and can use the amount in this wallet, via the debit card immediately after approval by us.
The card itself will have a standard layout by the payment provider we are using (which is 2Pay4You). If there is demand from partners, we can also implement a withdrawal to your personal 2pay4you wallet, which allows you to e.g. use funds to pay your bills directly from that wallet.
Even we will be using it for paying bills, so you don’t need your own bank account for such a purpose. A debit card with a nice MySystemX branding will be available by the end of the year, 2pay4you wants to start with a standard card first to avoid any delays.
From our point of view this is just the start of a long-term relationship and we hope all our partners are satisfied with the accomplishments so far. We know that sometimes certain things can take a bit longer than expected, but the whole structure is very complex and I am sure you will appreciate it is hard to forecast everything exactly. We are currently expanding our team to ensure a first-class service to all our partners.
Lastly, may I thanks all the partners for their continuous hard work, we really appreciate it and are happy with what has been achieved so far. At the moment of writing this newsletter there are 3137 interested persons and/or partners in our database.
We are looking forward to working with you all as a team!