WatchmeSports is a new sports broadcasting network that provides sports producers event management and live streaming of all their races, games and matches. WatchmeSports also provides payment processing for registrations and payouts for these producers through the ACH network, which is the backbone of all banks and credit unions in the US. It is also the same processing network that PayPal, Venmo and many other processing services use. WatchmeSports operates under the same federal guidelines (Federal Reg E) that PayPal and every other financial institution operates under.
Consumers receive all the protections dictated by Federal Regulation E. If a consumer believes their bank account has been debited fraudulently they have up to 60 days after their bank statement date to request remedy from their own bank. It is also a Federal crime for WatchmeSports to debit your bank account without your direct approval which is submitted when you initiate payment through our software.
When a payment for services is made through any one of our mobile apps your bank account will be debited the amount of the charge plus a $2 processing fee the following day. Once funds are received they are then forwarded on to the producer the next day. WatchmeSports does not retain any funds other than the processing fee. If a consumer would like to request a refund we recommend that they first ask the producer of the event for the refund, and if the producer refuses to issue the refund you can make a request to us and we will refund your money. Regardless, the consumer always has recourse through their own bank that is compelled by Reg E to remedy the situation.
Below is a link to the Federal Regulation E that governs all electronic transfers.
WatchmeSports would like to assure all of our users whether they are a contestant or a producer that their bank account information is encrypted and secure from prying eyes and we want to assure everyone that all measures have been taken to secure their data. Lastly, WatchmeSports does not share your personal banking information with anyone other than using it to process your payments through the ACH Network.
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