Lates Ibill NEWS / Finally out of business ?
 

Payout Update 01/26/05
EU Payout Update
As previously stated, we have established a relationship with Credit Suisse and we are moving forward with the steps necessary to complete the process of setting up a bank account. Please be assured that we have every intention of paying our clients as soon as the Credit Suisse account is setup and the funds are received from our European processor. Please check back on Wednesday February 2, 2005, for another update.

US Payout Update
At this time we are not in a position to provide a date on outstanding US Payouts. As soon as we have more information an update will be provided. Again, we have every intention of paying our clients.

hahahah....they do not even find a bank that is willing to open an bank account for them....

More dely tactics
 

The next excuse will be "Sorry we are still waiting for our European processor to send funds owed to webmasters, but we should get those within the next 6 months. So don't worry you will get paid soon, in the mean time all the staff at Ibill thank you all so much for being such gullible twits.

Just a message for iBill..

Hey Jason! Get off your ass and stop telling iBill staff to lie and cover your butt.

You took this biz on knowing full well of it's liabilities and paid fuck all in cash for it. Since then you managed to fuck it still further thru your gross incompetence.

You then used webmasters as lenders/banking partners to help keep your crap afloat. You need a decent jail term along with your Dad.

I just want to know is ibill EU payout 2 month behind?

this is not good

No EU payout since Dec 16.

I think it should be dec 19. So for EU, Ibill is missing DEC 19 and Jan 19?

fuk i feel for those who are tied up with this ibill bullshit, I would jump ship to another biller and save what i could! Im just so glad that when globill went down and we were looking at our options, that we never went for Ibill as main biller! They gave lotsa smooth talk which was to good to be true.
I actually thought at 1 point Ibill would pull through. My view is they are doomed. Things getting tight in the US for 3rd part :helpme

Dont blame it all on iBill.

pornguy:

Why not? :winkwink:

We could always blame VISA, First Data blah, but they are not the source of iBill's problems.

Galanis and associates bought iBill for little cash down ($750K) and agreed to take on the existing debts. What did they do about paying em or injecting any capital - not too much!

But.. they did get advance warning from First Data that they were not happy with the prospect of dealing with the new principals, partly because they just did not trust them with the credit card details of millions of clients.

What did iBill do when they were given notice? Nothing.

A judge made a ruling in one instance lately and after hearing the detail, ruled that iBill's problems were all of their own making.

Galanis/Molina/PHSL are basically unfit to be in control of iBill. The background of the people involved is not attractive to any bank, - it is only a suspicion, but I'd think that is the same problem other banks are having when dealing with iBill.

We can always blame others of course - It's all the clients fault for asking to be paid! :-)

jerryfan2000:

Yep - and there is little prospect of much happening on that until a mythical account at a bank called "Credit Suisse" is agreed to and operational - tho doubt that will happen.

Quote - "iBill was told early in 2004 by First Data (the company which controls iBill's account) that iBill's merchant with First Data would soon be terminated and that they, iBill, should make plans to find another relationship with another bank. iBill ignored the warning from First Data until it was too late. iBill lied to their customers about what had happened and ended up with little or no money to pay their website businesses (webmasters), mostly small businesses where their online sales account for 100 percent of their income which is no zero. iBill is forcing an incredible number of businesses into financial ruin and bankruptcy."

Think its safe to cash my cheque I got last week?

Ya do that damned quick lazzlo! :1orglaugh

If it's worth the effort and cost - it's even better flying to Florida and collect a bundle of $100 bills.

That sucks..... :mad:

What flavor is the koolaid today?

When Globill went tits up I remember everyone saying IBill would never go the same way.

Its just such a fucking mess... but I have to say its good how most of the affiliate progs have handled it, I for one havnt lost a cent so far, and I know at least 2 of mine used IBill.

I could lose a few rebills but thats ok.

I think us plebs owe a big thumbs up to the sponsors. :)

Mmmm... third party processing can be profitable, but how would you like to build a biz that is dicatated to from "outside"? Don't sound too stable :-)

There is this gut feeling we may not see TPP around in 2006.

Even now, it is long past time for any TPP's to have some form of indemity insurance to cover their clients in the event of their demise.

No processor is invincible :-) Who is next, or who is going to be innovative and come up with an alternative processing model?

On the brighter side.. tho hell knows how long that will take to be active - I can see a new model for, particulary "high risk" clients, where card companies are at arms length. Basically the customer can't access adult sites without a "porn card" and this can be topped up from any credit card and spent as they wish - if the money is not available on this "debit card", they get nothing and the webmaster has no chargebacks. Of course, it's not named a "porn card" and would be usable to buy non-adult CD's blah - that's what 99% of cardholders would use it for - wouldn't they? :winkwink: