ibill news 02/02/2005
 

Payout Update 02/02/05
EU Payout Update
As previously stated, we have established a relationship with Credit Suisse; however, we are still in 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. Another update will be provided by Wednesday February 9, 2005.

US, RevShare and Catalog Payout Update
Currently we are not in a position to provide a date on outstanding US, RevShare and Catalog Payouts. As soon as we have more information an update will be provided. Please be assured we have every intention of paying our clients.

EU :thumbsup
US :321GFY :error

:glugglug

Why????? Duh!

Where is the money collected after the time First Data dismissed iBill??

I would guess Ibill management is partying with champagner and whores every day using that money :mad:

nah sounds more like they're buying vacation resorts in mexico

They need all this money to bring the whores to their mexican entertainment farm.

Here's what I don't understand .. maybe someone can enlighten me ..

First Data stopped processing for iBill in mid-September .. the new bank started (I think) the first week in October .. so I can understand that any moneys that First Data is holding in dispute is not paid .. but shouldn't ALL the moneys processed by the new bank be available for payments??

Unless, of course, the new bank isn't paying them either .. has anyone heard one thing or another about that end of it?

No.. why would you think that??

BUT.. Your money has been put to good use gooddomains and is currently be applied to the construction of a nice swimming pool in Mexico where Luis can have some PR parties to scam another few investors :-)

I'm sure Molina will invite you along to see your pool when it is complete.

Well yes... but what's the point of paying webmasters?

Dammit firequatz!! Why you have to raise these awkward questions? :-)

Same shit new day.

US, RevShare and Catalog Payout Update
Currently we are not in a position to provide a date on outstanding US, RevShare and Catalog Payouts. As soon as we have more information an update will be provided. Please be assured we have every intention of paying our clients.

US, RevShare and Catalog Payout Update
Currently we are not in a position to provide a date on outstanding US, RevShare and Catalog Payouts. As soon as we have more information an update will be provided. Please be assured we have every intention of paying our clients.

US, RevShare and Catalog Payout Update
Currently we are not in a position to provide a date on outstanding US, RevShare and Catalog Payouts. As soon as we have more information an update will be provided. Please be assured we have every intention of paying our clients.

I did see a news story (a real one, not that fake "Oregon" thing) where some magazine is suing iBill for unpaid ad bills .. think it was in AVS .. my guess is it won't be their last ..

Has anybody of adult webmasters started suing ibill for unpaid commision?

Talk about a load of shit as usual I am so sick of being dicked with by these fuckers

The merchant account has been setup since mid September. Sounds like they are just finishing up setting up the bank account.

They most likley have two systems in place (IRS reasons) for US, and EU webmasters.

That may explain the problems with US payouts. Not sure but the whole thing is a mess. Do yourselves a favor and get your own merchant accounts. Get more than one if possible. Have a programmer write code to cascade between them, or if you have a problem, just switch them out.

3rd party is for the birds.

It was cybersocket, and yes more are on the way. Lawsuits won't matter when they file chapter 11, and retire to fuck you we are gone land.

It's usually more for VISA requirements than anything tax related :2 cents:

It's all crap Tipsy... there is no problem or any reason for a time delay - it's just them. They can't be trusted with 2 cents and would lie about that.

Some other shit published on the CMI just does not stand up - they obviously have no clue about what they are saying.

It does not take Credit Suisse 30 minutes to open a bank account - it never has.

The issue of em dealing with Credit Suisse is.. well.. another matter and more of a myth than any fact. I have spoken with banking people who deal with Credit Suisse and read the CMI updates and they don't believe any of it.

iBill need terminating asap and passed to a liquidator to unravel the crap - then an investigation started to check for criminal shit.

Well said!


They know how to dick around that's 4 sure!

Can you recommend a merchant account provider? I'd appreciate it.

last week people were talking about a possible big annonucement from ibill this week. Anyone care to elaborate what it was?

Oh I agree entirely. The comment was more about the point of having 2 companies one in Europe and one in the US - even if the US is ultimately the controlling company. Little to do with tax and more to do with VISA regs ie they need a European company to process there.

As far as iBill goes I made it clear a while ago I thought the adult Internet would be better with them NOT bouncing back as they have the inability to do the job. Rather than iBill adult needs someone to replace them. Sucks for those they owe money to though.

Got ya!! Yes, understand.. They do (or did!) have at least one corp in Europe, but checking at the moment for more.

There is a lot unknown, but do doubt will become clear be over time. If they are claiming to be dealing with the original Credit Suisse (the actual bank in Switzerland with that name), - they only deal with private clients and Swiss domiciled companies, so, there may be more companies yet :-)

This is the bank that sold/merged a substantial amount of their business and that is known as Credit Suisse First Boston (CSFB) and in turn is owned by another bank. Although CSFB still deal with the original Credit Suisse - this is handled entirely differently and controlled from Switzerland. CSFB and others have commented that the type of biz iBill do is not the "normal" type of business the Swiss Bank (Credit Suisse) would handle, which is mainly just "private banking".

Various bankers (mainly merchant banks), have also commented that they cannot see any bank taking more than a day to open an account if all information is available and looks OK. So, smells like another problem.

Totally agree on iBill not rising from the ashes - they have nothing to offer and, based on the previous history, - would just be an ongoing source of problems to many folks if they were foolish enough to deal with them. There is also a severe problem with the principals on banking issues - they remain involved and have an interest in IBD.

Yeah.. I've just been hearing from some webmasters who are owed money - a few are fine and will live OK despite iBill. Others are in severe hardship cos they trusted a processor to deliver the service they paid for - or overpaid for :-) All the more reason for iBill to cease to exist now and a liquidator take control and split any remaining assets over the creditors - if any assets do exist!

This is what happens when a defunct company (PHSL) tries to become *something* and buy into businesses simply on the understanding they will take the debt over - the problem was, they didn't and couldn't.



PS
Hey Jason!! Ain't that last bit the truth???? :winkwink:
I know you see all this stuff while you continue to paint, - even this week, - "forward looking" pictures of iBill to PHSL and IBD shareholders. Looks like family habits die hard - some call that fraud and scamming.

By now I am sure no more payouts will happen and we will see the company fold very soon.

Nothing would be a surprise yet.

We have successfully got down to a level of having a weekly update on the CMI now.

The next stage is drip feed out some dollars and dimes to keep it rolling and "looking forward" to fulfilling another agenda. :winkwink:

contact me i can help

Well .. today is a red-letter day ..

Back on September 15, I promoted over 70 websites which used iBill as their payment processor with me as an iBill affiliate. As of this evening, that number is zero. The last one finally gave up the ghost and switched to Epoch .. the rest have either already switched to other processors or, sadly, had to close their virtual doors.

Needlesstosay, I doubt I'll ever see that iBill money ever.

The question remains, even if the folks in Florida are able to pull a financial rabbit out of their hat (or ass) .. will they have any client base left to work with?

its pretty clear ibill is history, regardless i have an appointment with my attorney tommorow.