GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Verotel has Kidnapped my payouts! Authorities have been alerted!

robwod · 12-14-2013, 07:01 AM

Per your thread title, which Authorities have been alerted exactly regarding such seriously over-sensationalized allegations as "kidnapping payments". INTERPOL, the FBI, Scotland Yard, etc?

It's my understanding that a 6 month reserve is typical of merchant accounts -- or used to be. Thus, when a working relationship with a merchant account provider is terminated, I would think it's a reasonable expectation that the reserve is paid out in 6 months from the date of termination.

I'm unfamiliar with how Verotel works having stopped using them myself back in 2002, but I do recall terminating a merchant account agreement with one other provider and we received our reserve 6 months later.

As has been mentioned already, Verotel has to comply with the rules set forth by the acquiring banks and Gov't policy. The 6 month holdback would be, I would think, typical of a standard 6-month reserve as Verotel is acting as your merchant provider since you are not doing the volume to open one yourself. But if you did, you would still need to comply with the rules and regulations and be subject to the reserve.

12-14-2013, 07:01 AM
robwod Confirmed User Industry Role: Join Date: Nov 2005 Posts: 2,539	Per your thread title, which Authorities have been alerted exactly regarding such seriously over-sensationalized allegations as "kidnapping payments". INTERPOL, the FBI, Scotland Yard, etc? It's my understanding that a 6 month reserve is typical of merchant accounts -- or used to be. Thus, when a working relationship with a merchant account provider is terminated, I would think it's a reasonable expectation that the reserve is paid out in 6 months from the date of termination. I'm unfamiliar with how Verotel works having stopped using them myself back in 2002, but I do recall terminating a merchant account agreement with one other provider and we received our reserve 6 months later. As has been mentioned already, Verotel has to comply with the rules set forth by the acquiring banks and Gov't policy. The 6 month holdback would be, I would think, typical of a standard 6-month reserve as Verotel is acting as your merchant provider since you are not doing the volume to open one yourself. But if you did, you would still need to comply with the rules and regulations and be subject to the reserve. __________________ NSFW Last edited by robwod; 12-14-2013 at 07:07 AM..