Verotel has Kidnapped my payouts! Authorities have been alerted!

Hmmm.... that sucks about paypal. My mainstream gateway does not hold a reserve, neither did google merchant when that existed and i used them.

the point is banks suck, i would bet we all can agree on that. nevertheless, we don't handle it swirlie style and flipout on everyone else about it.

Beaner, if Google processed for adult, you can bet there would be a reserve. Adult is still considered high risk. The reserves are in place to cover chargebacks and associated fees for a period deemed necessary to mitigate the risks. After that, funds are released, less any fees incurred from the time your billing agreement was terminated.

If you are banging cards, in any industry, 5% will not cover what is coming. Also, i have been told straight from adult gateway that 5% is NOT to cover chargebacks. It's simply a happy number they like to hold onto.

Any cash business it is in the interest of the business to retain as much cash, for as long as possible.

Who said anything about banging cards?

I am saying that any adult merchant account that I have ever had over the last dozen or so years, ALL of them required a reserve of varying terms and %. To not expect a reserve for adult processing is simply naive . You can debate it all you want, but reserves in this industry are a reality and have been for years.

Right... that is what I said. It is the norm in adult because everyone accepts it and does not fight it. Everyone is told *adult* is high risk... it's no higher risk then most other mainstream subscription sites. Banging cards by people we all know make it *seem* high risk, ridiculously high affiliate payouts make it high risk, but most adult sites are not.

But what's good for the goose, is good for the gander. So you have 1 bad apple, 1000 have to pay for it. That's all i'm saying.

Who do you think mandates 5%? The bank?? No, it is the third party biller or the gateway deciding 5%.

couldn't verotel have just sent my weekly wire yesterday and avoided this publicity?

Imagine that concept....pay your client what you owe them...when you owe them.

If a middle man wants to change policies, start new rules, and regs fine by me...settle all my owed funds first...then I will decide if I wish to abide by the new rules.

You don't suspend my rebills and then say...

send me birth certificate
send me utility bill
send me pass port
send me 500 check

until you give me what I want you get no rebills

So in essence they have hi jacked my rebills and held them for ransom and the ransom fee was a 500 dollar check, utility bill, passport, and birth certificate

Oh Sure you guys send your birth certificate and personal utility bill to some one like MICHAEL O of zombaio.

I don't see any provisions or writings in black and white that has visa or master card name on it saying they need birth certificates?

What i have is a middle man dictating this all to me thru email without first consulting us.

9 years of processing with verotel and account been in good standing, no drama, no bull shit and this is how they treat a client of 9 years.

like I said they have re thought their former position which is what caused the thread in the first place!

I am now expecting the payout they declined to send yesterday to come on the next payout cycle.

So long as the payout comes the matter is closed. I am not interested in doing verotel any damage, even though they inflicted some damage to me by not paying me yesterday

Sara, as has been mentioned multiple times in this thread. Verotel has apparently issued a notice months ago (did you receive it?) explaining that they are making changes to the agreement and that they will have procedures in place to be completely compliant with KYC guidelines and regulations.

Here's a link to the KYC guidelines:
http://www.worldcompliance.com/en/re...tomer-kyc.aspx

Specifically, note these two sections of the Guidelines:

• Customer Acceptance Policy – Perform due diligence with background checks to ensure that customer/entity is using their real name and not involved in terrorism or other illegal activities.
  
• Customer Identification Procedures - Identify and verify all customers’ identities and purposes (using reliable, independent data, information, and/or source documents) to the bank’s satisfaction.

That said, I understand you are frustrated -- and believe me, I am not personally a fan of Verotel on any level -- but I think it's a real stretch to consider a reserve and KYC regulations as "kidnapping". My understanding is that the notice of this was sent months ago. But again, I do not process with them so I have no first-hand knowledge of that.

Good luck getting it sorted out.

Hey Robwod I appreciate the guidelines...again the point is still missed!

Guidelines or no guidelines where does it say in the guide lines that oneday you wil wake up and find your payouts suspended if you do not comply?

Verotel was only sending me rebills...I have moved on...3 times better conversions without verotel so why would I want to fork over 500 and a birth cert?

That is my point some around here many still need verotel...I do not need them. so there fore I do not have to send a fuckin thing to them.

I am just saying since I don't need you pay me my payouts in one payment, close the account and be done.

You get it yet? I don;t *HAVE* to cooperate because I don't use them in any capacity any more.

They are just paying me old rebills!

Why would I go through the hassle for just a handful of rebills?!?!

I politely decline to play by their new rules and that is that. Pay me what you owe have a holly jolly x-mas and we part ways!

What is the drama....why hijack my payouts, why demand this of me like I am their subordinate?

I don't need them but I need my few rebills that I use for grocery money...fuck

obviously they do not process for me so why would I need to send all this fucking bull shit to them to collect a few rebills?

It is assinine

Sara, I get it. My point was that if you are declining their option to continue -- and it sounds like you are -- you are likely going to have to wait for the reserve period they have set in place before you receive any further monies owed.

I can't speak for them, of course, but it sounds to me like your options are simply to comply with their requirements, or terminate your agreement effective immediately (which means existing members cannot rebill through them) and then your money will be paid out after the reserve period has ended.

I don't think you'll see any payouts prior to the reserve period's end date, effective from date you terminate your billing agreement formally.

Good luck nonetheless.

This is something all billers require.

Btw epoch doesn't have a reserve requirement

It just goes to show...

Being on the Internet doesn't make white trash any smarter or educated.

Can't we get some kind of white trash filter on here for potential members. Like a grammar or spelling test? Minimum of at least 10 teeth in their mouth per potential member?

All this over a handful of rebills. Just wait till the end of the reserve period OR comply like any other.

SwirlsGirl,

Verotel is asking you for proof that you are who you say you are. They are not punishing you, they are protecting you. Asking for proof of identity from you such as your birth certificate, utility bill etc is a sign that Verotel cares about you and all of their customers.

The are also protecting you and all of their other customers by making sure they play by the rules set forth by Mastercard and Visa.



Anyone who didn't have something to hide would comply. It's not really a biggy...

Wait this thread isn't about the 49ers?

Fuck regulations; Swirlsgirl is a different story.

Adapt or die