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Originally Posted by joshuawk
jfyi there is only one other US bank still taking adult high risk applications, they have 0% reserve. However they prefer lesser volumes than Humbolt
What bank does ccbill process with, what bank does paycomb process with?
And are they US BANKS? So paycom and ccbil have how many options to fall back on?
I'd be interested in truly learning how the processing industry is working.
everybody is processing under humbolt? That's scary
the industry is relying on one bank ??
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Joshuawk
CCBill does indeed use a US bank as ONE of their sources (unless something changed very recently) but it is not their only source. I consider them to be very stable in their positioning.
Paycom's banking sources are elsewhere
The US banks are dealing with overage percentages so it limits their ability to bring on new applicants. You see they are limited to underwriting only 20% of their volumes for high-risk ... it must be load balanced with mainstream or 'white' acccounts to keep the ratios down. When they go over their percentages the card associations fine them some serious $.
Steve from Humbolt can attest to this and thats the reason they occasionally open for a new account or two .. they have load balanced to allow the new volume.
lol no, not everyone is processing through Humbolt, Merrick has plenty of industry guys placed as do other reliable entities. (However ... Merrick is in the process of getting new owners so time will tell if any changes are going to come about because of that)
Its not a scary as it seems, there are countless banks throughout the world (some much larger and more stable than our US ones) allowing for adult as well as the other high-risk genres, so to say the industry is balancing on the strength of one bank is simply not true.