from CMI....
-----
iBill's Newest Processing Solution
Welcome to the iBill US Direct program, iBill's newest processing solution. iBill Direct US provides our clients with a merchant account guaranteed through iBill?s consumer protection services and technology and a cross-corporate guarantee with a major US bank. These services include iBill?s 24/7 customer service, pay page management, risk management, and proprietary fraud technology. This program provides new features and benefits never offered to our client base. Some of these features and benefits include:
Benefits:
Daily settlement of funds paid directly from the merchant bank.
Elimination of the MasterCard portal.
Immediate Visa activation for new and existing clients on all URLs
Instant approval on your adult merchant account because you are sponsored by iBill.
Initial six month reserve hold, reviewed quarterly for potential adjustment upward or downward (no more rolling reserve).
Your account is backed by an iBill cross corporate guarantee.
The cross corporate guarantee means iBill assumes the risk should the client cease processing. (Ex. Risks associated with trailing chargebacks). iBill also is required to continue to provide consumer protection services and technology such as fraud scrubbing, receipt management, customer service, risk management, etc.).
Continued use of iBill's consumer protection services and technology - 24/7 customer support, fraud screen, etc.
Costs:
$1500 VISA high-risk merchant account fee ? this fee is NOT required up front and your application will be reviewed for approval without payment of the fee. However, if approved, the fee will be required for processing to begin.
iBill fees will be fixed and will be based on the same rate you are currently paying.
Initial six-month reserve, reviewed quarterly for potential adjustment upward or downward (no more rolling reserve).
This application will enable Visa and MasterCard processing under our new domestic bank. All other card types and iBill payment options will be processed through your existing iBill Complete account.
When completing the agreement, please be sure to do the following:
Fill out all sections of the agreement other than those shaded in yellow
Attach a copy of a voided check from a US bank as funds will be deposited directly to your account.
Attach a copy of your driver?s license or Passport.
Attach a copy of most recent Profit & Loss Statement.
Attach a copy of most recent Balance Sheet.
Please sign and fax back to 954-363-4501 and if not available fax to 954-363-4401. Fax to the attention of Niki Dunbar, Financial Specialist.
For our reference, please include one of your iBill Master Account number or Sponsored Merchant ID on the fax cover sheet. Also, please indicate your Account Manager so they can confirm receipt ASAP.
NOTE: If you are a Sole Proprietor, please include a copy of your most recent tax return in place of the Profits & Loss Statement and Balance Sheet.
If you have any additional questions, please contact your sales rep. Please login to merchant info
http://www.ibill.com/merchantinfo/login/login.cfm and click ?iBill Direct US Merchant Application?, to begin your application.
Payout Summary Update October 8, 2004
As we?ve previously stated, we are continuing to work through negotiations with First Data.
Please be advised that the 9/21 EU Payout and the 9/22 RevShare Payout did go out on October 6, 2004. More information regarding the other missed payouts will be posted once it becomes available.
Please be assured we are working diligently to resolve this issue in a timely manner and we appreciate your continued support.
Another update message will be posted on Monday, October 11, 2004 at 5:00 p.m. EST.
-----