PSW Billing freezes payouts!!
 

Notice from PSW Billing to Clients
RE: Current Updates and Changes

PSW Updates & Changes

In light of recent announcements from various IPSPs, we want to thank you for your continued support as all of us push through the latest wave of regulations set forth by the card associations and our acquiring banks. Here we wish to be as forthcoming as possible with our status since, as you may know, many circumstances can arise at a moment's notice.

PSW is healthy and running at full speed, processing transactions, providing the services and support you've come to expect. However, there are a few updates we felt we should bring to your immediate attention.

1. We have been in a constant state of negotiation over the past few months, successfully addressing various aspects of the IPSP/bank relationship. However, in an effort to increase reserves to an excessive level, our acquiring banks have chosen to withhold funds, therefore causing a brief delay of payouts to our clients. We want to be clear that the funds exist, will be released, and that we will be working diligently through the course to remit all appropriate funds to you. Thankfully, no fines have been appropriated, nor will clients funds be used for any other purpose. Please note that the exact time frame payouts will be released is currently being determined and all clients will be notified in a follow up email notice in the coming days. This temporary situation will be resolved as quickly as possible.

2. We are excited to be establishing new international banking relationships to create a better playing field for our European clients. That said, while US clients will experience no interruption in service, EU clients may notice periods of downtime while we solidify our new settlement channel.

As always, we will keep you updated if and when any new circumstances arise and apologize for any inconvenience this may cause. Our staff will be available to address any individual questions or concerns at our booth at Internext this weekend in Hollywood, FL or at our offices Monday 4th.

We want all of our clients to know that we at PSW are working hard to comply with all new card association regulations and changes in the industry with both our stability and our clients business interests in mind. We encourage our clients to contact us directly with any questions or concerns.



Thank you for your patience and for your business.

The Staff of PSW Billing

Pswbilling is as full of shit and total liars as both globill & websitebilling were!

They're doing a "temporary" halt to payments because they've had too many chargebacks! What a CROCK!

Some of you may have seen my post 2 weeks ago about how my reserves had been frozen (had been using PSW as a backup). They said I had to high a chargeback ratio (2 chargebacks in the last 30 days out of 10 signups is how they figured it!). So, yeah, going on THIRTY days for their baseline, my cb ration was 20%

However, going on SEVEN MONTHS of chargebacks, I was under .5%! So I wrote PSW back and asked for a DETAILED report on why they said I was a "chargeback" risk. Got no answer after 1 week, so wrote them a NASTIER letter 2 days ago.
This morning (before the above announcement came out), I get THIS response finally:

"Your account is closed because of chargebacks. Your monies are being
held indefinitely, pending a more circumspect view of your chargeback
situation. Please understand, this matter is not open for discussion.
See section 5 of your contract, wherein it says that PSW may hold your
funds indefinitely if your chargebacks are deemed to be excessive."

So I just want to say to PSWBilling...



FUCK YOU!!:thefinger

Liars to the max!!

Like lemmings over a cliff.

whow these guys have balls..

I love how they always issue these bullshit emails right before they close up shop and aren't available for a few days. Just like PSW.

If you ever hear the words "pending", "temporary" or "delay" used, especially in the same sentence, you are fucked.

So you're saying they froze the funds to afford their trip to internext? HAHAHHA

The last time PSW mentioned "temporary situation", "no interruption to service" and "negotiation with banks" I lost $500 and all my Visa rebills.

i was reading that AVN article when the post was made.

if things keep going like this, i may be forced to lease out my signature :)

Maybe we should start threads whenver nothing changes at our processor or they don't go out of business.

We might end up with less threads that way.

But to whom?
I hope not to Legendary Lars!

Just as long as CCBill and Paycom don't fold, I will be happy! :)

From the AVN article:

"Both Stuart and Gardner suggested the speculation to be the work of one particular rumormonger, though neither man would say just which one they had in mind. But both men suggested the individual in question was probably more a troublemaker than anything else.

"We had heard this (speculation), too," Gardner said. "It seems like with all the (credit) changes everybody's just getting kind of scared and freaked out. Back in January, there was a guy posting trying to deny official statements from us were official statements. The impression we got is it's some guy who does it to everybody, goes around and tries to make trouble."

That's got to be **ME**!!
:1orglaugh Got to change my handle to "Troublemaker!":BangBang:

It is sad to see another one go.

I wonder how many more Visa/Mastercard has to go.

And their e-checks would be "temporarily" offline..when was that..last how many months?

:thumbsup

:1orglaugh

one more to go... if you are actualy processing trought this company, act fast... move all your rebills and members while you still can! :warning :warning :warning

www.ccbill.com

if you cant afford the visa fee still stick with them... at least you can accept checks, mastercard and dialers witouth any additonal fee... at least you know you will get paid :2 cents:

This is scary stuff. Was this for a pay site you run? Or is it a revshare/affiliate account?

If I'm not mistaken you can't move rebills from one IPSP to another without signed consent from the customer
So the only thing you could move is your new business.

The rules are different if you open your own merchant account.

It was actually revenue from 4 pay websites I own.

If I remember correctly, an announcement like this usually marks the beginning of the end for any biller.

all I have to say is... C My SIG:1orglaugh :1orglaugh

They must have needed money bad if they froze your account over 2 chargebacks from 10 sales... That is a way too small of a sampling.

Ouch! If ibill went belly up I'd be fucked. I'm GLAD as hell I didn't switch to Globill six months ago like I was planning to do. Ibill sucks but at least they're still around. But for how long ??

Absolutely. And it's the webmaster that pays the fees for chargebacks, not the billing company. So if they are already taking 10% of your reserves, as well as charging *YOU* the chargeback fee, how the heck can *THEY* be short on money?

Imagined if THIS happened:
"Hi! I'm a bank. While we are a stable bank backed by plenty of cash assets, we've run into a temporary hitch in our cash reserves so you cannot withdraw any funds from your account for the forseeable future. Don't worry..your money is SAFE! We just want to "use" it for awhile to pay for a few of our bills. You'll get it back in..oh...a short period of time. And whatever you do, don't write any checks right now!"

It amazes me why the processors impose such stiff penalties on their clients when they're the ones who processed the cards in the first place. If a user committs fraud and the processor is too careless to catch it, why should the client get stiffed?

1. I don't think they will go out of business or that they are over the 1 percent chargeback ratio. They have never let anyone do cheaper than $2.95 3 day trials and don't like 3-6 month memberships very much. Like CCbill I can't see there chargeback being very high when they keep there rules a lot stricter than Epoch/Ibill.

2. I am certainly dropping them back to 2nd processor until this is sorted out. Infact after this shit happening I think I'll just keep epoch as main, (just had a few really bad days with epoch thats why I changed).

Anyways hope they bounce back I'm sure they will.

In other news...

www.dormbucks.com is still open and accepting joins! :-)

hook it up guys ..

hosted galleries, picture of the day, gallery of the day, random gallery link, revshare up to 70% and/or flat joins starting at $20 each.

we prepeay for traffic too...

come on by, or icq me at 1 0 3 2 3 6 1 2

Oh well, thats probably more of my money gone :)

Who gives a fuck anymore ? I don't.

exactly...psw, acpay, globill are all the same

...bullshiters

I dont like PSW... but.

psw is an ipsp like ccbill & paycom.

we use them as a backup processor and I feel confident that they will pay us on time as they have for several years.

THey have roughly 250k of mine on payments due out to me not counting reserves.

This is getting to be a joke!

Clients pay... card companies "supposed" to honor these payments via their banks... and processor "supposed" to honor their deal with webmasters - all the rest is crap BS.

It sounds stupid to think of law suits.. but may be that time is drawing closer.

I agree. It looks bad as big players start falling off one by one. I don't think that PSW is already out, but I guess they are having some complications now...

I don't so much see it as a chargeback issue. In the cases so far
it has been pressure from Visa exerted on banks that has caused
problems.

http://www.gofuckyourself.com/showth...hreadid=157942
http://www.gofuckyourself.com/showth...hreadid=158744
http://www.gofuckyourself.com/showth...hreadid=157507

To me it now seems that Visa has cracked down on a number of
non-US banks. It's yet to be seen if this crack-down is really
about reporting, chargebacks and kiddyporn or if there is a more
sinister motive.

-Ben

Sheeet! You make me glad I dropped PSW when I did. Have you by any chance called them to ask them WHEN the "temp" thing may end?

I hope someone at the show asks them just how long is "temporary"? Amazing they say on AVN that basically "ain't no one running the office cuz we're all here at the show!"

I can't get anything out of them other than this "action will last indefinitely."

Whoa.. who's ass exploded in here? :fart Ok, this thread, within one post, went completely off topic. There are several separate issues being presented here, few of which have anything to do with our client notice.

Centurion: Pswbilling is as full of shit and total liars as both globill & websitebilling were! (...long story short...)

Only time will tell.. you certainly have one upped us on the slander-o-meter. :thumbsup Regarding the CBs, unfortunately Visa/MC doesn't look at seven month blocks of orders, and while we do agree the situation could have been handled better, it has nothing to do with our client notice.

Jact: I love how they always issue these bullshit emails right before they close up shop and aren't available for a few days.

Shop is open. We are available, live and in person booth 804/806, or feel free to call. From the emails we've received it seems most clients like to receive information as soon as we have it to give.

AcidMix: So you're saying they froze the funds to afford their trip to internext? HAHAHHA

As anyone at internext knows, the majority of expenses are paid long in advance.

Lenny2: Maybe we should start threads whenver nothing changes at our processor or they don't go out of business.

It wouldn't be nearly as much fun.

Centurion: That's got to be **ME**!!

Unfortunately not, though you're getting there. ;) Honestly though, you appear to have some legitimate concerns which are being looked into per your second post. Third post went in a PSW keepsake.

tonkagunner: It is sad to see another one go. I wonder how many more Visa/Mastercard has to go.

It's happy then, knowing that another one didn't go and won't be going. Each company went out of business for their very own specific reasons. We have our very own specific reasons for continuing on, keeping our clients in the loop, and addressing rumors regardless of how bad they seem to get.

rowan: ...I lost $500 and all my Visa rebills.

It was extremely regrettable that Visa put the rules in place that caused all companies outside the US or EU regions (billing with any agent) to lose their transactions.

Centurion: And their e-checks would be "temporarily" offline

Yeah.. damn that "temporarily" term anyway. Suppose e-checks is better to be down then the more pertinent projects that visa/mc have us focusing on. That said, e-checks will be temporarily offline for a bit longer. Please consider a specialized check company, such as electracash, in the meantime.

gothweb: If I remember correctly, an announcement like this usually marks the beginning of the end for any biller.

If those that went out of business are any example, you're right. We were aware of the similarity before we drafted the notice but there was no clear way to differentiate when we're being honest (though others may not have been so).

ckm: They must have needed money bad if they froze your account over 2 chargebacks from 10 sales... That is a way too small of a sampling.

Actually, thinking logically, that wouldn't be worth the trouble. I will be checking why exactly Centurion's account was handled the way it was.

Boobmaster: If a user committs fraud and the processor is too careless to catch it, why should the client get stiffed?

Modern scrubbing methods catch most detectable fraud. However friendly fraud (the user crediting or charging back after a legitimate purchase) is the fault of the consumer and ends up being a cost of doing business.

Driven: I don't think they will go out of business or that they are over the 1 percent chargeback ratio. ope they bounce back I'm sure they will.

Who da man? YOU DA MAN. Actually, driven, I think you're too nice for GFY.

TaDoW: In other news... dormbucks

Fascinatingly blatant spam post. Go get em!

OzMedia: Oh well, thats probably more of my money gone. Who gives a fuck anymore ? I don't.

It's coming. Believe me, if we were done we wouldn't be exhibiting, sending notices, or subjecting ourselves directly to Centurions breath of fire.

Indeed: psw, acpay, globill are all the same ...bullshiters

We're different. We're still here. But the bullshit does come out sometimes when we have to address bullshit rumors.. can't help ourselves.

Hooper: we use them as a backup processor and I feel confident that they will pay us on time as they have for several years.

You'll get yours.. buddy! ;)

Darren: THey have roughly 250k of mine on payments due out to me not counting reserves.

Well, technically our bank does, but when we do we'll pass it on to you. ;)

Webby: This is getting to be a joke!

Everything but our notice may just be one.

Vivaldi: I don't think that PSW is already out, but I guess they are having some complications now...

Actually you can bet all the IPSPs are having some complications.. just depends on whether they feel it appropriate to talk about it or not.

mryellow: I don't so much see it as a chargeback issue. In the cases so far it has been pressure from Visa exerted on banks that has caused problems.

They do know how to squeeze. However, it would take days to write out all the subtleties of banking relations. Centurion did complicated things a bit with his CB post (not surprisingly so, those are some atypical circumstances).. but that was more about his associated frustration then the notice at hand..

Centurion: they say on AVN that basically "ain't no one running the office cuz we're all here at the show!"

You're taking quite a artistic license there as we left quite a few employees at home (some of which we had originally planned to send along).

Centurion: I can't get anything out of them other than this "action will last indefinitely."

hahah. Did you send a message [if you do not reply in 30 seconds you admit that this "action will last indefinitely"?] We can assure you it won't, but feel free to send more fun messages to pass the time.

Round two tomorrow if it's necessary. :winkwink: