Dear Artists & Studios,
On Monday, April 9th it was announced that Choice Bank, also known as First Choice Pay, has been forced into a “liquidity-constrained position” causing it to cease all withdrawals from deposit accounts. This set back is also affecting Paxum and its pre-paid credit card service. While the bank asserts these challenges are short term, iWantEmpire understands cash flow is imperative to our lifestyle and many of our artists depend on this service.
In an effort to prevent any disruptions in payment please note the following:
- All funds currently in your First Choice account should be available for withdrawal but no additional deposits can occur. iWantEmpire is recommending you withdraw all available funds immediately.
- All First Choice Pay payouts not yet processed can be rerouted through Express Pay.
- iWantEmpire has negotiated with Express Pay to offer a reduced fee for wires going forward based on volume.
- Wires fees will be $25 fee per wire, plus an additional $8 fee for wires sent in USD.
- Express Pay will provide one free wire each month for payouts over $1000.
- If you are still signed up through First Choice Pay, please contact Billing@iWantClips.com to have your payout returned to your account for later processing.
- For all those who have already switched to Express Pay, we will begin processing your payout today.
We would like you to know this situation is our utmost priority, and we have every resource working on your behalf to assure your funds are safe.
If you are able to take immediate action with the knowledge we have provided, we will be in an optimum position to support you.
All further developments will be reported as they come in.
If you have any questions not already answered above, please reach to our model support team at ArtistExperience@iWantClips.com
The iWantEmpire Team