EMocorp Latest news

Texas Attorney General Greg Abbott has obtained an asset freeze and emergency approval for a court-appointed receiver to take over the operations of the unlicensed Austin-base online payment service EMO Corp.

The company and its officers, Todd L. Tredeau, Tracey Jones and Nancy C. Humphries cannot fully account for more than $5.4 million that consumers placed into their accounts. The company’s books show they have only $3 million cash on hand, which means EMO cannot account for $2.4 million belonging to its customers. The officers failed to register with the Texas Banking Department and obtain a license as a “money services business,” as required by law.
The Banking Department denied EMO a license for failure to meet minimum net worth requirements of $500,000 and other statutory requirements. Furthermore, according to the company’s own financial statements presented to the Department of Banking, the company is insolvent.

For more information check: Texas Attorney General Greg Abbott website

Attorney General's lawsuit against EMO Corp

Agreed temporary injunction and order appointing a receiver

Temporary restraining order against EMOCorp

Court Stamped copies of above (10 MB)

EMocorp info

EMO has the following features:

  1. Print a money order on plain paper printers, made out to anyone
  2. Email money orders
  3. Receive payments

funding

Cash - Well Fargo or Comericia

You can deposit cash in your EMO account using a local bank. There is no need for you to have an account at that bank. Funds are usually available the next business day.

Check

Credit Card

Bank Account - Only for U.S. account holders

Bank Wire

In order to fund your account by wire, please complete the following information. At the end of the process, you will be able to print out a form that you will present to your bank in order to complete the transaction.
The routing number and account number can be found on the lower left corner of checks drawn off your bank account. If you do not have checks for your bank account, please contact your bank for the correct numbers.

E-Gold

E-Bullion

Widthdrawal

Bank Acount - U.S. Accounts only

Fund Debit Card

EMO debit card $9.95

E-Gold

E-Bullion

Electronic Money Order

On Plain Paper - for amounts upto $1,000.00
Secure Blank EMO Paper - for amounts up to $1.000.00 (100 sheets for $15.00)
Standard Emo Secure Paper - for amounts up t $2,500.00 (100 sheets for $20.00)
Optimum Security EMO Paper - for amounts upto $25,000.00 (100 sheets for ($25.00)

 

Fee

EMO Corporation recognizes that providing the best value is crucial in today’s competitive business climate. We deliver exceptional value by charging low fees. In fact, we charge nothing for moving money between EMO accounts. That’s right, if you move money within the EMO system, it is frictionless, it is FREE. So, getting your community of users to adopt EMO can save money for all.

Account Fees Verification Required Transaction Time Fee Amount
First Account (personal/business) N/A N/A FREE
Additional Accounts N/A N/A FREE
Account to Account Transfers No Instant FREE
Funding / Money In
Receive EMO payments No Instant FREE
Receive purchase payments into a merchant account Yes Instant FREE
Mail a check (USD only) Yes See Footnote 1 FREE
Mail a money order (USD only) Yes When received FREE
Bank Account Transfer up to 5000 - (USA Only) Yes 3 business days 0.5% + $3.50
Credit Card Yes Instant 6.0%
Bank Wire from US bank Yes Same or next business day $15.00
Bank Wire from International bank Yes Same or next business day $15.00
Cash deposit at local bank2 Yes 1 - 2 business days 2.5%
Internet Currency Yes Instant view details
Withdrawals / Money Out
Send individual EMO payments No When recipient logs-in FREE
Print an EMO up to 1000 USD on plain paper No Upon Activation $2.00
Print an EMO on EMO custom paper Yes Upon Activation $1.00-$2.00 3
Bank Account Transfer up to 5000- (USA Only) Yes 2-4 business days, average (when item settles) $3.50
Debit Card Yes view details view details
Bank Wire - International (Minimum of $5000.00) Yes Same or next business day $50.00
Internet Currency Yes Instant view details

NOTES:

  1. First check will take 10 business days to clear, future checks will take 2-3 business days.
  2. Cash deposits accepted only at Wells Fargo and Comerica.
  3. EMO offers money order blanks and mailing envelopes.

EMO amount and paper type Fee*
Up to 1000USD on Secure paper $2.00
Up to 2500USD on Standard paper $1.50
Up to 25000USD on Optimum paper $1.00

* The above amounts show printing fees excluding the price of the paper.

Restrictions

You need to be verified to have access to all the features. To get verified you have to scanned at least two documents;

Determine what documents you are required to submit.