Welcome to the discussion on COSMO payment issues and updates. This thread serves as a valuable resource for webcam models and professionals in the industry who use COSMO for their financial transactions. Here's a summary of the key points and advice shared by members:
- Several members have confirmed that COSMO accounts are set up in USD ($), which is standard practice. This can be particularly useful for those receiving payments from platforms like Streamate that operate in USD. However, for UK-based users working with sites that pay in GBP (£), such as AdultWork, the exchange rates for converting back and forth between currencies may lead to financial losses.
- Users have shared their strategies for minimizing losses due to currency exchange, such as transferring money to a secondary balance before moving it to a bank account where it's converted to their local currency (e.g., from $ to €).
- There are reports of issues with withdrawing money from ATMs or paying with COSMO cards, with several members experiencing their cards being marked as invalid. It seems this is a widespread issue rather than isolated incidents.
- Communication with COSMO support has been mentioned, with varied response times. Some members received prompt assistance while others are still waiting for solutions.
- Recent developments have indicated problems with VISA cards not being usable for transactions or receiving funds due to restrictions imposed by the issuing bank. COSMO has communicated that they are in the process of migrating affected accounts to a new financial institution and recommend that users with Mastercard accounts should not experience these issues.
- Concerns have been raised about the future viability of COSMO, with comparisons drawn to previous issues faced by other payment services in the adult industry. The suggestion to withdraw funds and possibly seek alternative payment solutions has been mentioned.
For those affected by the VISA card issue, options include waiting for the account migration to the new bank, requesting a Mastercard, or transferring funds to a local bank account. Members have shared their experiences with bank transfers, including fees and processing times.
This thread continues to be a place for sharing updates, advice, and support among professionals navigating these payment challenges.