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TECHNICAL UPDATES 22/08/2017

2 weeks 1 day ago - 2 weeks 20 hours ago #2508 by Anita:Technical Support
STATEMENTS

Last week we mentioned that you could now start transferring funds between certain Statement Accounts. We did have an issue, when transferring funds between certain Accounts after the initial transfer. This has now been addressed. Thanks for picking up on that and reporting it Martin ?

FREGA RATING

We also spoke about the Frega Rating and how your Frega Rating will affect your level of access to financial services and capital. Yes this true in the context that you are seeing it in now however the Frega Rating will affect and have an impact on many different areas within the eco- system that will not just be financial. We can and will talk about that more at length as the Frega Rating matures.

After this weeks round of coding the actions on the Frega Rating that are functional (9) are:

You have Activated your Frega Account
You are benefiting from contributions flowing from 10 Numberville Tables
You have purchased Encommandite Syndicate Shares in the last 30 days
You have transferred funds from one currency to another in the last 30 days
You have made a payment from your Frega Account in the last 30 days
You have changed one of your Slot positions in the last 30 days on The Plan
You have transferred money from your Frega or En Commandite Account to the RealP2P account in past 30 days
You have transferred money from your Frega or En Commandite Account to the Derivative Trading Account in past 30 days
You have transferred funds from your Frega or En Commandite Account to The Plan Account.

The Dev team will be working to get the rest of the current list where possible functional as soon as possible.

We will also be continuously adding tasks as the functionality appears on the site.

With the release of every new Application you can expect to see the appropriate list of action steps on the Frega Rating .

KYC

At some point and we do not currently know what the threshold will be. In order for Frega to comply with all the regulatory environments around the world we will have to put a hold on the Frega Account when the balance gets to a certain level until the member KYC’s themselves .

We need to have a robust KYC System in place that will take into account the requirements set forth in the Money Laundering Act. data protection directives and the requirements laid down by the respective supervisory authorities (e.g. BaFin, FIAU, FINMA or FMA).

We are looking at a couple of companies at the moment and we will make our decision in due course.

Which ever company we choose to go with, they will provide comprehensive training to the Global Support team.

As we expect to expand quite rapidly we will be looking at expanding the support team globally and we will talk more about that in the coming weeks.
When someone KYC's themselves they need internet access, a computer with webcam or smartphone or tablet and a valid identity document.

Identification is done by video chat .Initially they will receive an individual link to download the IDnow smart phone app and then Video chat can start immediately afterwards

Once the KYC process is finished we will have previously set up a profile of Mentors that fall into the top 35 % of the Frega Rating that they can choose to pair with or we will allow the Global Support Team to auto pair them with a Mentor.

Once that has been done the Member is good to go. They can then Login to Frega immediately – their Account is now fully functional.

SOMETHING2TRADE

We are working on the eBay/Amazon and S2T display Functionality options at the moment and expect to have a working example to show all going well by next Friday.


That's all the updates for this week.

Regards

Your Technical Support Team

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3 weeks 20 hours ago #2169 by Angela

Angela wrote:

Paddy Delaney wrote: PayPal will charge about NZ$2.90


Oh Golly gosh I am having a bit of brain fog and forgotten where I need to go to make a payment into my frega account.


Silly me... I have just found it. :oops:

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3 weeks 20 hours ago #2168 by Angela

Paddy Delaney wrote: PayPal will charge about NZ$2.90


Oh Golly gosh I am having a bit of brain fog and forgotten where I need to go to make a payment into my frega account.

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3 weeks 20 hours ago #2165 by Paddy Delaney
PayPal will charge about NZ$2.90
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3 weeks 21 hours ago #2163 by Angela

Paddy Delaney wrote: Transfer in the currency you have the money in from En Commandite to Frega (same currency) and then convert foreign currency into NZ$


Dunnit ..... thanks Paddy. Has anyone any idea how much it would cost me to sent to frega via Paypal $100?

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3 weeks 21 hours ago #2161 by Paddy Delaney
Transfer in the currency you have the money in from En Commandite to Frega (same currency) and then convert foreign currency into NZ$
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3 weeks 21 hours ago #2160 by Angela
I have X amount of dollars in my en Commandite account and want to transfer them to a Syndicate app but when I get the dropdown of the countries, I don't have NZ on the list. I want to transfer in NZ dollars. How do I transfer from en Commandite to one of the syndicates in NZ dollars?

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3 weeks 22 hours ago #2158 by Paddy Delaney
eMoney yes
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3 weeks 23 hours ago #2152 by Whatsup
Are you meaning the Elicense members can transfer $8000? We must be close now for the elicense.

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3 weeks 1 day ago #2137 by Paddy Delaney
Correct not until licensed to do so

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3 weeks 1 day ago #2135 by Prosperitywithpurpose

Paddy Delaney wrote: At this stage we have a £10-00 limit but we will soon have this lifted to £500-00 then no limit

i was explaining some of our functionallity to a FB friend and she wanted to know if she could transfer $8,000 to a relative. I told her it was impossible .... for now.

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3 weeks 1 day ago #2132 by Paddy Delaney
At this stage we have a £10-00 limit but we will soon have this lifted to £500-00 then no limit
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3 weeks 1 day ago #2129 by Prosperitywithpurpose
Is there any limitation put on us by FRA on transferring funds through Frega? Or is it purely limited by how much is in our account already.

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3 weeks 1 day ago #2122 by Paddy Delaney
Thx we are aware of this and have it on our to do list
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3 weeks 1 day ago #2120 by Whatsup
Just on another note, when using my mobile phone though google, the frega global forum page is not bootstrap still. I have to type in forum on the top index bar, so I can read any posts.

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3 weeks 1 day ago #2119 by Paddy Delaney
Excellent report back Anita

It was a productive week

Looking forward to next week

Regards

Paddy
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3 weeks 1 day ago #2118 by Paddy Delaney
THanks Martin,

You are a bug collector, lol....yes I had the same problem

Thank you we will apply a fix

Paddy
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3 weeks 1 day ago #2117 by Anita:Technical Support
Noted.Thanks for the feedback Martin.We did not experience this when testing. Will follow this up.Much Appreciated
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3 weeks 1 day ago #2113 by Whatsup
I have found that when I transferring funds between certain accounts (Encommandite to Frega and the payment made , I cant make another transferring funds between certain accounts (Encommandite to Frega until I click on frega statement and start again. It would be much easier to just re-click though the same link to make another transfer.
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3 weeks 1 day ago - 3 weeks 1 day ago #2110 by Anita:Technical Support
Weekly Update and Progress Report 2/09/2017

FREGA

If you look at the top of your individual Currency Accounts on the Frega Statements you will see a 'Transfer Tab' next to the 'Deposit' Tab .



You can now start transferring funds bewteen certain accounts (Encommandite to Frega, Frega to RealP2P and also the Derivative Account. This week we will also add the ability to transfer funds from the Frega Account to the Plan Account . There are some restrictions. You can transfer from Frega to RealP2P and Derivative Trading and soon The Plan but you cannot transfer from RealP2P /Derivative Trading /The Plan to Frega, so please bear in mind that once you have transferred funds to those accounts you can not reverse the transactions.

NB: Money transferred from the En Commandite accounts to the Frega Accounts can be used to buy more Syndicate units now and soon you will be able to use it for S2T Store/POS purchases.


FREGA- MAKE A PAYMENT

On the Frega Dropdown , You can click on 'Make a Payment' and you will see a dropdown that will show the available balances in the different Currencies. You can select or enter an amount and type in the eMail address of the person you wish to pay/send money to.
NB, They must have a Frega account in order to receive funds.




This is how you will be paying Merchants from your Frega Accounts.

FREGA STATEMENTS

You will now see a Running Balance on all individual Currency Statements.

We have Improved the descriptions on the Statements making it easier to understand where the money has come from/gone to.

NB: We are looking at ways to display these entries so that anyone can see the source /date /location of the money. We want people to have an understanding that a complete random transaction anywhere in the world does and can help them financially
.

We have Started to show the RealStew Shareholder earnings. We have some additions and adjustments to be made so please bear with us.



FREGA SYNDICATIONS

We have been steadily Adding to the Syndication FAQ’s

THE PLAN

You can now change slot positions once every 14 days

FREGA GLOBAL

You Can now start building your wall.
When you log into the Forum click on the three lines top right and you can view 'Connection Requests'




We will have a lot of new functionality that will be being added on a regular basis. Please keep an eye on the Forum for regular updates.

NEXT WEEK

We will begin working on the Frega Rating

This is very important because there are quite a few areas where it works together with all he applications we are working on and this has a big impact on the site.

Your Frega Rating will affect your level of access to financial services and capital and In order to be able to process any Loan or any Cash on Tap facility or apply for Credit your Frega rating will be taken into account.

Merchants will have no issue giving credit to new Customers that they have never met before on the strength of their Frega rating as it will give a clear indication as to the members ability to pay back the loan.

No one will ever will ever be able to borrow $ that they can not pay back because EVERYTHING is formula driven.

What the Frega rating will also do is it will show a Members commitment to the eco system as a whole and In order to become a Mentor you will need to have a Frega rating that is in the top 35 % , this will show that you are committed and that you have an understanding of the site .

it will also Show your status within the eco system .Very powerfull as no one will want to have bad rating.


Every Frega Account Holder will have a Frega Rating between 0 – 999.
Having logged on to any account the Frega Rating of the Member appears in the top right hand side of the banner.





Click on the Positive and a list of the completed tabs show up, per above.

Click on the Negative and the list of as yet not completed tasks show up.



These are all active links, click on any one and it opens up with a broader description of the info screens (left hand side), the Positive actions completed and the ‘Negative’ actions still to completed.


Complete any of the tasks and this will be shown as a positive and increase your rating.
Don’t complete any of the tasks this will be shown as a Negative decrease your rating.

It is entirely up to you as to what kind of rating you would like to have. The more you do the higher your rating will be…the more services you will have access to .. The higher your standing will be within the community.


SOMETHING2TRADE
We are still working on the eBay/Amazon and S2T Functionality and will have more to report back on next weeks call.

That’s it for this week everyone.

Have a safe weekend

Regards

Your Technical Support Team

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