What can i do if my Credit card processor is not paying out, or looks like they are gonna go bust? thay have $20,000 of my money for orders I have already paid for and sent to customers, they say there is a problem with their bank and they are trying to fix it and asked me to please be patient, any advice please???
Hi, I am reluctant to say at this stage in case they are being honest, if they are then i would give them lots of bad publicity unjustifiably.
Anton, there is no need to hide processors. Every now and then, they go bust. You will not be badmouthing them. Your concern is real. If it is IBILL, you might be out of luck. They have outstanding payments with many big accounts (add a couple of zeros to your figure) for the last 2 weeks. Revshares got paid partially, so there may be some light at the end of the tunnel. But perhaps it is not ibill...
Hi Alex, When you say customers can ask for chargebacks, how does that work? (I understand what a chargeback is) I mean, do Visa etc refund the customer and then pursue the processor for the money? if so, where does the merchant stand in all of this? RoberMiami, Hi, still a little reluctant to say who it is at this stage, if they haven't paid out in a few days i will name them and goive all the gory details but I'm hoping they pay out, b.t.w. do any of you guys know where a merchant stands legally in this kind of scenario? Your help is appreciated during what is a VERY worrying time for us as we wait for our money. Thanks guys,
If it is iBill, I sympathize. At this point I don't know when we will ever see the money owed us. Hope everything works out for you.
Ibill I know it's IBILL. I too, am owed over $10k, and I haven't received not one single wire since 9/16. My only advice to you is to find another processor, or get your own merchant account to avoid this happening again. j3
It's not iBill, as far as we are aware the payemnt processor holding onto our money haven't gone bust, so there must be something we can do, surely.
Should I sie IBILL? I am currently owed $10,000 in back checks from IBILL. I have only been paid twice since spetember of 2004. I was just wondering if any other IBILL clients were considering a lawsuit and how they proceeded in doing so. I also saw that some clienst are going to cancel thier rebills and ask thier customers to demand refunds from IBILL. I will do this as well, however, i want to be sure that i'm not gonna be paid by IBILL anymore before I cancel my rebills.
Honestly, I don't even know if suing IBILL is going to get you anything. I think right now you are better writing off the money you are owed as a loss. However, if you haven't cancelled the rebilling on all the accounts, something is seriously wrong with you. I cancelled every single recurring membership when they missed the second due date. There is no reason to contnue billing my customers for my work, and a 3rd processor not pay me a single dime. When you continuously lie about paying on a certain date, and the date arrives, then you make up some bs about the bank routing info was wrong, or the payments were sent, but they came back, or the checks were mailed out but are no good because they were withdrawn from the old bank they no longer do business with... IT'S TIME TO LEAVE. You should have cancelled them a long time ago and found another processor. The only two proven companies that come to my mind are Paycom.net and CCBill. I do hope you can recover, but it looks like you are going to lose those recurring members.
jfwhite3 thanks for replying I did get checks from IBILL in december and january. This is why I haven't cancelled the rebills. Actually, the never crossed my mind until I read this forum today and it seems like a great idea. I intend to do it. Did you email all your customers and ask them to demand refunds as well? Also, do you have any plans on sueing IBILL? the thing is I want to switch to CCBILL, but I waited to long and don't even have the money to pay Visa the $750 to get registered with them through CCBILL. I'm gonna get some sales for www.econoporn.com 'till I have the money to get set up with CCBILL. I've ben paid by them before so I trust them. Do you have any other suggestions about who I could work for until I get the money to pay visa? if so, I'd really aprecciate it man. Thanks again.
I received one measly wire payment from IBILL, and trust me, it is no where near the $10k they owe me. I have talked to some attorneys down in Florida, but it looks like a losing case. I literally stopped updating my websites and posted messages on the site informing them of the situation. My customers had a recourse, they could get a refund or do a chargeback. The only thing we could do was wait, and wait, and wait. I couldn't tolerate it so I joined with Paycom, and haven't looked back. It does hurt to lose recurring members, but you should be honest with them, tell them you have to cancel and hope they rejoin your site again. Try to offer them a few bucks off your normal price for a limited time to generate some interest in them signing up again. Remember, you can still use Paycom or CCBILL to process yoru memberships, but you will only be able to accept Mastercard, Discover, adn JCB until you pay yoru Visa registration fees.
If you're in a bind from losing a payment processor (like iBill) and you can handle 7% - 12% fees send an email to sales@siteomatic.net. I've worked with them in the past and have found them very helpfull, timley and fair. Small outfit with a light staff. Good CS. They may or may not take you on, but it's worth a look. I know he only has a handful of clients.