PSW Billing freezes payouts!!

50 chargebacks

Darren: PSW can you pick up your phone please.
We're in touch. ;)

Driven: You guys sound like your on top of things.
Just a matter of keeping up with the late arrivers, such as Fabien.

tony404: we are your customer not the banks.
Agreed. But we felt fully honesty would probably be wanted in this case. Partial information would have resulted in even more speculation which, while fun, doesn't help.

Darren: Mark my words PSW will be here far into the future.
You got it.

greentea: 50 chargebacks
We see your 50 cb and raise you 50 bs posts. ;)

Yes I understand how Internext works, it was simply a joke that fell in line with the AVN article. As anyone on GFY knows, its that almost anything posted is a joke.

Anyhow, I have never used PSW before, for all of you that are using them I hope you get your money.

As for PSW, I hope you do pull out of this mess as seeing another processor go down the tubes would totally suck!

P.S. My nickname is AcidMaX not AcidMiX

Andy

Correct. Matt from PSW shouldn't even HINT of deflecting responsibility for monies owed to clients, not even "technically".

Matt, step up and keep it real, don't give us this "bank" shit. If I were to draw up a list of fatal mistakes made by 3rd party processors, I'd put that one near the top.

Exactly

Darren: THey have roughly 250k of mine on payments due out to me not counting reserves.

Well, technically our bank does, but when we do we'll pass it on to you. ;)

---------------------------------


My Take on this matter is.
Don't pass the buck to the bank. Thats your problem. Your contract is with the webmaster. It should be your responsibility to come up with the money to pay the man and deal with your bank on your own.

IPSP's are pretty much useless now anyway. were paying a high percentage rate for no protection/less services anyway. Better off getting your own merchant account. much cheaper in the long run and your customers are portable and not someone else's.

I guess that explains why you told me to get back to you on the advertising thing.

Good luck bro

This is gonna sting

Dear PSWBilling,

Well, you have a knack for being glib as well as for glazed over responses I see.

Let's take a few of your "points":

1)"It's coming. Believe me, if we were done we wouldn't be exhibiting, sending notices, or subjecting ourselves directly to Centurions breath of fire."

You want to make light of my posts charging that you have used the term "indefinite" as for this "freeze" you currently have. I don't find it funny at all. And from your OWN Jeff Dean in an email I received from his yesterday:

"Please understand, this matter is not open for discussion.
See section 5 of your contract, wherein it says that PSW may hold your funds indefinitely."

That's why I don't find this situation funny. First of all I make a perfectly legitimate enquiry and I get this "slam" that it is NOT open to discussion and basically am told "go fuck yourself!" So you have indeed said "INDEFINITE" unless you now want to take back what Jeff Dean said to me.

2)"It's true and in the various discussions we've held we've come to the realization that only time will prove our position.."

And the question on everyone's mind is HOW MUCH TIME? And as others have pointed out, ACPay told webmaster NOT TO WORRY, we're still here, but in a different name as we are being bought out by another company. Then we find out "at the last minute things fell apart". You can't play "we're the billing company with a sense of whimsical" when it comes to people money.

3)"Centurion did complicated things a bit with his CB post (not surprisingly so, those are some atypical circumstances).. but that was more about his associated frustration then the notice at hand.."

Here's where the "crock" really begins! First of all PSW, this is GFY! Almost ALL threads go off topic, and don't try to blame ME for the thread going anywhere it wanted.("not suprisingly").

As for me being "frustrated", well gee..I wonder why. I send a detailed email to you guys, and after ONE week..NO RESPONSE. I then send another, and get the "GFY" from Jeff Dean.

It's amazing you can find time to play "tongue in cheek" on gfy but can't answer one important email from one of your clients.

4)"Did you send a message [if you do not reply in 30 seconds
you admit that this "action will last indefinitely"?]
We can assure you it won't, but feel free to send more fun messages to pass the time."

Again, I refer you back to Jeff Dean's statement that it would be indefinite and the "subject is not open to discussion." Now that's a very professional way to handle a client isn't it. And how dare I get upset from a feaking "in your face" reply from a supposed professional billing company. Yeah, I'm really the bad guy here aren't I?

So now I wait for more of your glib responses, while you won't discuss SQUAT about how long the freeze will last let alone my speicfic situation.

And what is the position with checks that PSW has already sent out?

Will they be met on presentation or are they going to bounce because the bank has frozen their funds?

Exactly. This is a business issue and it should not negate the agreements with webmasters.

If you want to rag on someone at least pick the real folks who are responsible!

http://gofuckyourself.com/showthread...hreadid=159494

The bastards

I'll make sure I never do business with PSW Billing. Customers always come first.....

Why don't you take a look at this...

http://gofuckyourself.com/showthread...hreadid=159494

I am reading between the lines here.

1. Either PSW live week to week and pay funds out only as they receive them (ie: no reserves) or PSW do have reserves and this problem is a few weeks old for them.

PSW Billing is full of shit!!! globill did the same thing to me 6 months ago and took $1,800 out of my account!!!! please don't be foolish like I was and bought into there smooth talking B.S!!!!!

If you don't beleive me look at what I posted regarding globill 3 weeks befor the went b/k

http://gofuckyourself.com/showthread...hreadid=147930

Anyone have any checks bounce from these guys yet?

I asked something similar earlier - it bothers me that they have not come in and answered that.

This sounds EXACTLY like the letter we got from Globill in October 2002. Right down to the assurances.

Things that make you go hmmmm . . . . .

Any IPSP skirting the threshold that performs a rebill import deserves to pay the fine in the following 60-90 days.

At the very least the transition should only take place after positive conformation via email. The conformation email could also contain an upsell. That would help make up any losses.

An import done right will still yield a 1-2 % CB rate. This is due in part to consumers not recognizing the new billing companies descriptor. However, if done wrong you can expect a 5-10% CB rate.

Don?t even get me started on refunds?

Just another case of "we didn't get paid, so we won't pay you". I know this happens, so rather than flame the basic principle, I will just say this.

"I am glad I am with a biller who can afford to pay me what they owe me."

Oh, and remember. If you want to legally avoid your debts, you need to file for bankruptcy. A press release and a "sorry" won't really cover you.

No word from them since this morning eh?
They're probably busy thinking up clever and (in their opinion) funny ways to say "We don't care what you think!"

Can you imagine a rep from ccbill, paycom, jettis, etc comming onto a board which consists of adult webmasters concerned about their livelihoods and start their "rebuttal" of "rumors" with
"Whoa.. who's ass exploded in here?"

Corvett, Mitch, etc. would be fired in an instance (or severly chastised) for saying something like that on behalf of their company (which I know they would never do..based on their track record).

But you have to remember, PSW has said "this is not open to discussion!"

Yep - the longer they stay away and don't answer very simple questions like:

"Can you assure us that your checks are not going to bounce"

the harder it is to believe them and the more inclined we are to switch our traffic away from sponsors that use them.

Perhaps they don't yet see a need to operate in damage control.

Yes, Visa made those rules. However, you forgot to mention that PSW didn't follow them, and fed BS to your clients. You guys were promising for nearly a month that Visa billing for non USA/EU clients would resume shortly... and then did an about face and said the only solution was to set up an offshore EU company.

Let's also not forget about the missed check rebills before you guys 'temporarily' (hmm, there's that word again) disabled your check forms - what is it now, 3 months since then? - or the customer that was recently rebilled 24 hours AFTER he cancelled...

Are they back processing Visa cards for their EU sponsored merchants? Or is that still down?

And what about the checks that you sent out in the last few weeks - will they bounce?

Round two will be posted shortly. Internext is proving very productive for us and we want to thank everyone for asking questions, getting the facts and keeping friends and inquirers in the loop.

Still here. More information shortly. We will be addressing various questions and comments from this thread. ;)

AcidMax: As for PSW, I hope you do pull out of this mess as seeing another processor go down the tubes would totally suck!
Negotiations Friday and so far over the weekend are exceeding our expectations - thanks for the vote of confidence (and sorry for the misspelling). ;)

CDSmith (tony404, Jizar II, hitman699): PSW shouldn't even HINT of deflecting responsibility for monies owed to clients, not even "technically"... step up and keep it real.
Good point and we want to be clear that we do accept responsibility for the current situation. The post was meant to give clients and inquirers a complete perspective as partial information would have resulted in more factious rumor-based speculation.

Centurion: You want to make light of my posts charging that you have used the term "indefinite" as for this "freeze" you currently have.
We understand your frustrations and apologize if the timing of the Customer Service Message (to you alone) and the Client Notice (sent to all clients) caused confusion. As stated, your specific account and holding of funds was due to isolated circumstances related to chargebacks (which we have gone through already and will be looking into on your behalf).

The client notice was sent for a different reason entirely (which is outlined in the notice itself) and clearly states that funds will be released to clients.

More Q&A momentarily.

Centurion: The question on everyone's mind is HOW MUCH TIME?
We expect clients to start being paid within the next seven to fourteen days.

OzMedia: I am reading between the lines here...
We are staying in business by making decisions that will keep us in business and allow funds to flow to our clients.

Chess Master: globill... took $1,800 out of my account!!!!
We assure you, PSW is not globill.

gothweb: If you want to legally avoid your debts, you need to file for bankruptcy. A press release and a "sorry" won't really cover you.
Agreed and if we had wished to duck-and-cover like other billing agents we would have done that already. We have no debts to avoid, our clients will be paid and we will still be here.

Centurion: But you have to remember, PSW has said "this is not open to discussion!"
Again, that statement was in a Customer Service message to you alone - NOT in the client notice sent to all clients. We would not be at the show, on the boards or in touch with our clients if wished not to discuss the issues at hand.

The Other Steve: And what is the position with checks that PSW has already sent out? ...are they going to bounce because the bank has frozen their funds?
We never have and never will send checks that bounce. When checks resume (which they will) you can consider it cash in hand.. or because we know you'll want to.. cash it and then consider it cash. ;)

We will address more questions as they arise and we are near a computer to do so. Thanks again to the countless individuals that are sticking up for us both online and at Internext, and all the companies showing their confidence and continued support.

Ok..staying just on my situtation for now in this post..since you have told me my situation is NOT open to discussion, please tell me how long you need to "look into" the situtation before a decision is reached? I went back through all the way to MARCH, and there were *3* chargebacks over the last 5 months. How can that be "too high" of a chargeback ratio? I have the screen captures that can be posted to back up my statements if need be.

I'm not talking about checks that you WILL send out - I'm talking about checks that have ALREADY been sent out.

The difference is not so subtle.

Will the checks that are already in the mail be met on presentation?

Just a simple yes or no will suffice.

I'd like to say I appreciate (whoever is writing this thread) that you have a more professional tone than yesterday's posts had.

But I do wonder this. If the enough money is present to cover payouts, chargebacks, and continue to allow you to operate your business, why have you frozen the payouts?

If you have no debts to avoid, why not release the funds now?

I would also like to know who you are..what person in the PSWbilling company is answering this information?

Thank you.

This is incredibly frustrating, not just with PSW, but with every IPSP.

For years they've claimed that they have this incredible knowledge and expertise in dealing with Visa and MC.

Now it's cristal clear that they have been clueless all along.

All of the blood money rates were paid for absolutely nothing.

They can't even figure out what their banks are doing with the money. What a joke.

The entire IPSP model has been a scam from the beginning.

PSW: I'd also like to know whether your balance grows sufficiently to completely cover each check written, or you just routinely shift money into it when the balance falls below a trigger level. I am in Australia so there's a lag of at least 1-2 weeks before I receive them, then a further lag of 2+ weeks until your bank in the USA gets the check that I have deposited.

I'm already expecting 2 globill checks to bounce because of these delays, please let us know if your account has sufficient funds now to cover checks written then. Thanks.

Exactly the same reason I asked Rowan - funny how they seem reluctant to answer a very simple question with a very simple answer

If you're smart, stay away from pswbilling ...

A reluctant answer to such a straight forward question means you probably can answer that question yourself. Sad but true.

Words like indefinite, and temporary all have a negative conotation. I'm not even sure what you guys can do other than cut your losses now and move on to another processor if you have your own sites. This really blows for you guys and I feel for you.

These processors are falling one by one and I'm afraid we are going to see much more happen in the next six months.

Good luck to you all and I hope you can recoup as much money from them as possible.

I know mate - I just want these buggers to admit it.l

Reading & re-reading your statement continues to raises several red flags. What *IF* the bank does NOT release said funds? What will you do then?
-----------------
Then PSW writes:

"We want to be clear that the funds exist, will be released, and that we will be working diligently through the course to remit all appropriate funds to you."

They exist..but not in your hands right? Because if you DID have those funds in YOUR hands, you would not hesitate to release them, correct?
--------------------

And what specifically does PSW have to do to satisify your bank to release the funds? Something you've never told any of us.

Btw..when was the CUTOFF date that these funds started to be withheld? How many of ya'll got a check this week for previous week's funds? If the cutoff date was say..last wednesday, and checks got mailed out last tuesday, those checks would probably bounce then, correct?

Why should PAST transactions be penalized (reserves that are due to be released now) if you're negotiating FUTURE reserves?
Why don't you release those funds?

bump - we're still waiting for an answer

how many processors will be left by the end of the year ??

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agreed

Good point! Desperadely want to hear the answer.

It looks like PSW is unsure of their future, that's why they took the decision to freeze the payment. If they do ok, there will be a post: "See, we told ya! There was nothing to worry about." If something goes wrong, there will be: "Oops, we did everything we could, but those funds didn't help us "

Whoever posted that Queen song haha still laughing!

im shit myself laughing

... some PSW clients won´t !!

Hey I am a PSW merchant and will lose 1k USD or whatever when they go tits up lol

Let's all chime in "ANOTHER ONE BITES THE DUST..."