As of August 18th, OnDemandFunds, an online e-cash processor, announced it plans to cease operations. This is bad news for anyone with funds tied up in the company and anyone that falls under this category should contact the company immediately.

The bad news from OnDemandFunds came in the form of the following written announcement:

“OnDemandFunds would like to take this opportunity to thank you for using us as your deposit option. However, we are writing to notify you that we will cease operation on August 18, 2006.

There are some key dates that you need to be aware of before our closure.

Last time and date for deposits to your ODF account - 3pm EST on Friday, August 11.

Last time and date for transfers or withdrawals from your ODF account - 3pm EST on Friday, August 18.

Access to your ODF account will be suspended at 3pm EST on Friday, August 18.

Please make arrangements to withdraw or transfer any funds currently in your account. In the event that you leave any balance in your account at the time of closure, we will attempt to credit it back to your credit card or bank account on file. You may contact your merchant or review the cashier's page to find an alternative payment solution.”

Posted on: August 27, 2006

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