ePayments, which abandoned crypto services, begins enabling withdrawals

The ePayments payment system has allowed withdrawals for a subset of users from the platform. Payouts began in early March.

First steps on a phased reopening of the business! https://t.co/8qRyvTFKho

— ePayments (@myepayments) March 2, 2021

Despite the system’s limited functionality, clients of the company have been able to withdraw funds from their ePayments account to a personal account with another payment provider.

Depending on balance, users have access to different withdrawal methods, excluding the service’s native payment cards. The company did not provide further details.

To access the funds, users must undergo verification and provide additional personal information at the company’s request.

Withdrawal is currently available to a portion of clients. The rest will be notified of this possibility by email.

ePayments has assured that the company has sufficient funds to return money to all clients in full.

As a reminder, on 11 February 2020 the ePayments system, popular among cryptocurrency users in post-Soviet states, suspended operations after a check by the FCA of its anti-money-laundering controls. Since then, users have been unable to perform any account actions.

In September, ePayments changed the terms of the user agreement. Under the new rules, individuals will be able to receive payments only from companies and send money only to their own accounts. Payments will be accepted via transfers, bank cards and alternative payment methods, such as prepaid cards from the service.

The company also stopped working with digital assets.

In December of the same year, Mike Rymanov left the post of chief executive of the company. His duties are temporarily performed by Simon Davies, the strategic adviser to the Board of Directors.

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