Bad news is that after just a few weeks, LoadXtreme suffered frequent downtimes and once shut down that appeared to be for good. No official word came out from the owners until a few days ago, after months of "darkness," when an SMS message suddenly appeared out of limbo.
The four part text message goes:
"Good News! LoadXtreme is back and is now under the management of VMobile Technologies, Inc. owned by a leading investment banking company. Migrate your account now!
To migrate your LX ID, type PLX VMOB
New depository bank accounts (next day credit):
Bills Payment (same day credit)
Please include your ID#
Visit www.loadxtreme.ph or call 706.3818-19 for details.
(NEW) Sell AXS card for MRT rides and reload AXS via LX. Email us at email@example.com"
I can only say that LoadXtreme is really insensitive to all their clients due to lack of official statement from them regarding their absence and also this resurrection. They owe a lot of explanation for this. They just can't send a message to all their distributors and retailers that who were left in the dark. How about the lost deposits of people during the unexplained downtimes? They can't even name the investment bank behind their re-opening for due diligence.
I have to warn them though, there's an upcoming BSP circular that aims to regulate emoney/e-wallet systems like theirs. Prepare for stringent regulations, anti-money laundering controls and KYC stuff.
LoadXtreme, shape up lest people tag you as a fly-by-night scam!