CashTanker hits a bump in the road…

Is it me? Recently I’ve posted about two opportunities that I reported on by saying that they were quietly going about their business and delivering on their promises.

The first to trip me up was Vanfunds who were swallowed up by another company and now CashTanker has created something of a stir. Earlier this week investors received an email from the owner saying that due to heavier that anticipated requests for withdrawals he was having to implement measures to protect the integrity of his service.

This means that all plans have been ‘paid up’ until December 25th and these funds can be withdrawn from December 20th. For larger sums he is recommending that bank wires are preferred method of payment.

By doing this he wants to ensure that CashTanker can start 2010 with a more robust business model.

Somewhat confusingly when you now login to the CashTanker back office there is a notice to the effect that deposits are still possible until the 25th December and as I read it payments will be made directly so that no compounding is available. I still haven’t quite figured out what all of this means and reading the forum it seems that the doom monger crowd are sensing blood.

Personally I’m keeping an open mind and have decided to continue with my withdrawal (you do have the option to keep funds at CashTanker until the beginning of 2010 but not earning anything) and will re-assess the situation at the beginning of 2010.

I think that it is worth saying that this time of year is always somewhat traumatic for online investing as many investors make withdrawals to pay for Christmas expenses so we shouldn’t be too surprised to come across situations like this, hopefully things will get back to normal service very soon.