Due to restrictions on the banking side it was not worth it to continue running PrivateFiles.
Rewriting our backend to suit the banks requirements would take 3-4 months, during that time the amounts we would be allowed to process would result in a constant loss, there is no guarantee that the changes would solve the problems. I do not consider it an option to postpone affiliate payouts because of reasons that is outside their control or giving various empty promises about a better future.
It's never fun having to close down a site, especially considering all the time that wasted on it. At the very least our affiliates are being paid and we did a clean shutdown without redirecting traffic or other shady tactics.
I think shutting the site down is the best we could do for us and our affiliates