CyberFrontier has been in the 'New Media Business' since 1991, long before
the World-wide Web was invented and the Internet started changing the way
people do business, the world over. |
CyFroCA$H™ Corporation, is a Wyoming, USA company, spun off CyberFrontier® e-Holdings™ to operate the financial services concepts invented and refined by CyberFrontier® since May, 1999. |
|
|
You see, CyberFrontier,
which actually had it's original roots in SysTec Ltd., London, had no bank
accounts in the U.S., but the checks we received were mainly
Dollar-denominated and drawn on US bank accounts. After loosing large parts of our income to banks for far too long we came up with a solution: "incorporate a company in the US, open an account there and safe the insane fees banks were charging us". |
||
|
Unfortunately it wasn't that easy. After incorporating CyberFrontier Corp. in the U.S., banks informed us that due to new regulations they could not give us an account without at least one senior officer being present in person. "No problem" we thought, and sent our company secretary who also served as director and treasurer of the new company to California. Alas, no bank would give us an account because our officer had no Social Security Number and was not a permanent resident of the U.S.A. |
||
| The final solution was teaming up with an American, and finally we were able to open accounts with a local bank and start presenting our hard-earned commission and advertisement checks for payment there. | ||
|
Then some of our clients asked if were willing to cash their checks for them, which we did. Next, we crunched some numbers, consulted several industry experts and hatched the idea that lead to this site. After applying for provisional patents for the new business concept, and after completing the first version of the software application used to run this operation we incorporated CyFroCA$H as an independent corporation, employed the services of contacts in strategic countries and realized almost immediately that we had only scratched the tip of an iceberg and that customers required a whole range of additional services. |
Although CYFROCASH, INC. is an independent corporation, it uses the facilities of the CyberFrontier® U2Networks Group in a number of coutries, and CyberFrontier® is also charged with the management duties and administration tasks for the young Wyoming-based company. |
|
|
That was the year 2001. Then the rules in the U.S. changed: |
||
|
As
there had been no warning as such and as the banks refused third party
cheques from one week to the next, which all but took us out of business. |
||
|
Next we realized that we could save additional bank fees, by simply maintaining accounts in several countries and allowing people who wanted to buy something from one of our clients to simply deposit funds into these same accounts. This was the beginning of CF-SitePay and CF-CashDirect. |
||
|
Then we added services for e-gold® Exchangers (CF$x), made a deal with a bank to issue ATM / Cirrus cards and found that some European banks were still willing to accept endorsed third party cheques, albeit at somewhat hefty fees. |
||
|
With the latest addition to our product range, Health Insurance cover from Lloyd's, none less, we are now able to offer our clients comprehensive e-commerce services that allow anyone from virtually anywhere to start building a business in cyberspace and reap the benefits of the Internet in the way it had originally been suggested by the media. |
||
|
|
||