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-   -   IBill Cheques Bouncing? (https://gfy.com/showthread.php?t=103931)

jerryfan2000 02-13-2003 02:52 PM
I am with CIBC. And my ibill check was returned also. But I haven't called my banker regarding this issue. Hopefully they put the check in collection also instead of bouncing it. ........:<

stocktrader23 02-13-2003 03:01 PM
Quote:
Originally posted by wevegotmale
I can totally undersatand your frustration to your dilema. After all it is your :2 cents: and iBill should have been better prepared for their clients in Canada.

Please, don't think that I am a bleeding heart to the current state of affairs as it pertains to iBill. I have done my research on the iBill situation. So everthing that I am writing is my opinion based on what I have found out about the iBill situation.

All the trouble started when the powers at Visa decided that IPSP's would need to follow a certain criteria if they wanted to process cards carrying the Visa logo. (You know, the $750.00 fee, and all of that bullshit!) Even though some processors have decided to ignore Visa's warnings (scared to lose their current clients) by not implying the fee, iBill, being the largest IPSP in the world, decided that they would need to follow these new regulations as 80-85% of all card holders are Visa. They could not afford to have this happen to their current business model.

Because there was a rush from their clients to register for the Visa fee, many, tried to find loop holes to avoid paying the fee. Many of the clients that opted to incorporate in Europe did not truly research their descision before incorporating there and as a result, many are finding that their descion to avoid the fee is alot more expensive than the fee it's self.

My suggestion, based on research, is to incorporate in the US. (Yes the fee would apply). Since the US and Canada share borders, many of the banking rules serve reciprocity, this would be the most expediant way to get paid. :2 cents:

Adult web owners have to stick together and the only way to do this is to follow the rules, as I am sure this is not the end. There are other payment cards out there and who is to say that they will not do the same thing that Visa has done. The rules are changing and no one is exempt.

Whether or not Visa wants to admit it because it is polically incorrect, there is a market for adult sites, and these sites do provide a valuable service. I would like to know how many of the executives spend time on their computers, away from the wives, kids, girlfriends, and fiance's choking their chicken after hours and on the weekends.

So let's stop blaming the processor and place blame where it really is. After all our customers earned their credit from Visa and should be able to use that credit anyhwere at anytime.

What a load of shit. Ibill created their own damn problems and THEY need to fix them.

And about the visa charge. Ibill is suffering more than others for several reasons. An example that comes to mind is this.

Ibill figured in their cut of the $750 fee into their earnings estimates. They must have assumed everyone would pay this. When they announced the fee many of their clients left Ibill. Now, they not only lost revenue from the customers that left but also lost their "projected" revenue from their piece of the Visa fee. This made their earnings go to shit and on the announcement their stock value took a swan dive. Ibill handled this like a bunch of idiots. If I made millions from my clients I definately wouldn't make them pay more than Visa is receiving on the fee and I would have covered it for any account that was making me money. :2 cents:

Masturbationman 02-13-2003 03:07 PM
When this happened to me they just put a stop payment on the check and issued me another one the cleared just fine. I think the problem was that the check did not say US funds on it. Anyway I know have wire setup.

Masturbaiton Man

scoreman 02-13-2003 03:17 PM
Quote:
Originally posted by WarChild
I just got ibill spam to an old merchant account email address. They're giving away a free, red, C5 corvette.

They gotta pay for that somehow you know.

Daymon
Actually they paid for that promotion by not doing any free booze/food parties at the Internext in Las Vegas this past January.

scoreman 02-13-2003 03:19 PM
[deleted]

FATPad 02-13-2003 03:48 PM
They're not giving away a red Corvette.

They're giving away a one year lease on a red Corvette.

scoreman 02-13-2003 03:53 PM
Take the cash FATPAD! Its like 15k as the alternative prize and you dont have to pay for all them scratches you would get running the Vette hog wild up there in the sticks. Plus you could use the money to buy yourself and yer buddy Dave from Miami a nice Plasma screen to Ghost Recon on!

FATPad 02-13-2003 03:56 PM
Quote:
Originally posted by scoreman
Take the cash FATPAD! Its like 15k as the alternative prize and you dont have to pay for all them scratches you would get running the Vette hog wild up there in the sticks. Plus you could use the money to buy yourself and yer buddy Dave from Miami a nice Plasma screen to Ghost Recon on!
HAHA

AM Jeff 02-13-2003 04:17 PM
Yanno whats fuckin funny over all this?

People have been bitching about I-Bills problems and everyone is aware of the problems they are having.
It's no secret.

But hat is REALLY fucked up.

You guys still continue to process with them.

Sorry..but ya keep getting bit and ya still go back for more.

:thumbsup

sneaker 02-13-2003 05:13 PM
Kind of an old thead but I will add my 2 cents, never send back the original checks if they bounced until they have taken care of the balanced owed.

TheRedZone 02-13-2003 08:04 PM
Since the thread has come back to life I thought I'd post an update...

There's no change.

1st cheque deposited on Jan 21st, funds pulled from my account Jan 31st, bank put cheque in for "collection", I checked with them today and they told me to give them another week.

2nd cheque deposited Jan 30th, funds pulled from my account Feb 8th, bank put cheque in for "collection". They tell me it will take a few weeks to process.

3rd cheque sitting in my inbox, Ibill says "deposit it, it should be good" my bank says "deposit it, you will eventually get the money"

I'm now processing with ACPay, no Visa fees, no 10%/6month reserve and the cheques (from Dec & early Jan) are clearing no problem.

Why don't I switch to wire transfer from Ibill?
Because I'm not sending them any new transactions and I don't have any rebills. I'll be down to just getting my reserves paid out in a few weeks and the bank fees on the transfer will be 5-10% of the cheque amounts. I can wait the 4 or more weeks it will take for the cheques to clear, I make most of my money elsewhere.

smut4all 02-13-2003 08:08 PM
Got my check on monday deposited it on monday, cleared on wednesday. No prob. Ibill is doing a fine job for me.

models 02-14-2003 11:05 PM
ibill's check was ok for us. (USA)


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