Uniclear out of business for at least 120 days
August 28, 2006
The debit card Uniclear is suspending all transactions except credit card processing for merchants for at least 120 days. This decision has something to do with its problems with Wachovia bank, debit cards, ACH and its previous credit card processor.
As advised, Uniclear will continue to pursue legal action against the above parties to recover frozen funds which belong to Uniclear members. It was emphasized that these funds are by no means lost, just tied up in litigation.
Uniclear members are enjoined to be patient during the 120 days as Uniclear will address these problems and issues to put the business back on the right track.
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