Ibill payout communication
 

Anyone else just get this email?

Read this:

" One of the criteria our processor and acquiring bank is now using in determining reserve holdbacks of all credit card reserves is chargeback ratios. Although your chargeback ratios are under the limit of 1%, our accumulated reserves are being held by our European processor and acquiring bank. The reserves are being held pending the resolution of card association regulatory issues related to cumulative chargeback ratios and any potential fines as a result of those ratios. Accordingly, we will be suspending the reserve portion of your semi-monthly payout scheduled for August 19, 2003. "

So in essence Ibill is passing the buck to the clients in regards to issues they may be having with their bank. Rest assured you will never see this money again, and if there is a fine levied it will be our monies and not Ibill's that are taken.

I've been a big Ibill supporter, but this is just getting surreal. This is just shocking nonsense and really polishes off Ibill as a serious billing company. They must be able to communicate a resolution to this immediately rather than just allow this to go on and on.

I've heard some talk that this is not applied to all EU clients but rather only some, so even the above may not be totally true.

Will all this shit ( read VISA) ever end???

We should be the one having reserves on all these aborted monkeys!

Maybe if Larry Flynt becomes President then it might end. :(

I still can't see my Ibill EU august check payment in the CMI.
Anyone else?

Did you get the email? I don't think you will see totals in the CMI until tomorrow..

No I didn't get that email, but my reserves were suspended last month already.
It is not fair because our total reserves blocked because of our mastercard chargebacks and beleive me that number chargebacks were 4 or 5 totally.And our all reserves blocked I mean visa and mastercard reserves totally.We just don't trust Ibill anymore after 5 years working with them.

Sorry but I want to make this clear to idiots like me.

Are they now saying thet ate 10% hold back is no longer going to be paid 6 months after they received it?

So if 10% of your turnover, for 6 months does not cover what you are going to be fined in the likely hood of you going over the 1%. They want to hold onto it. but what if it does cover the amount, what if you do not ever go over the 1%?

It seems to me that this is just them grabbing more. That is not and never was their money.

Guess IBill are one company I will not be looking to for CC processing, even though we do need a new one.

seems to me that if there's anyway possible for somebody with a paysite(s) to get their own merchant account then it makes no sense to be with a third party processor any more - actually looks very dangerous to me to be with a third party processor, this memo says this webmaster is below 1% but it's the IPSP's cumulative chargebacks which are the issue which has their EU processor and aquiring bank doing this.

if you're a paysite owner take a good look at who else your third party biller is billing for and what they're up to because it doesn't mean shit if you even had a ZERO chargeback ratio if VISA and MC put your IPSP in their cross hairs, you and your affiliates and money are all at serious risk.

scary.