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Originally Posted by Platinum Lantern
But I see how Ibill is operating...
They continue to process for websites, but aren't cutting ANY checks?
Yet people are sticking with them, thru all the broken promises to make proper payments...
Why are webmasters still processing with Ibill?
I really don't understand, can somebody fill me in?
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PL - Think on this.
iBill were given advance notice from First Data of their intention to cease the banking relationship. iBill did nothing.
It was not without good cause First Data made this decision - they, like several other banks iBill have contacted, are aware of certain circumstances where risk and more was involved.
Next.... this problem was at that time, more or less, accepted by webmasters.
But.... and this has nothing to do with First Data or anyone else - iBill have continued to transact funds and dispense these as they saw fit - not necessarily to the rightful owners of these funds. Webmasters have, as you say, not been paid for transactions completed after the time of the termination of First Data.
Instead, iBill have entered into legal agreements to avoid further court action and failed to comply with these agreements. Some webmasters have not been paid by iBill since mid 2004 and others were threatened with no payment if they decided to terminate and stop sending traffic.
iBill then promised.... many things.. ranging from shares in the company (*lol*) to promissory notes - all of which never happened.
The lastest mindless adventure is the concept of third party payment issue and using an ex-consultant closely tied with iBill to perform this alledged procedure. This "independent escrow agent" has presented no credentials and now claims to be offering this service on a non-profit basis from an unknown address or location - and, on a "take it or leave it" basis.
In summary - ya got a load of scammers concocting a "play of the day" - depending which way the wind blows at Deerfield Beech. But, still - avoiding any payment to webmasters.
This crap will come to a head shortly and those responsible for the direction of this company will have plenty time to answer questions. That does not just mean officers of the company, but any "shareholders" and "independent consultants" and staff on the premises.
As for the corp entity itself - this needs terminating at the earliest possible time and passed to a liquidator to disperse any funds.