Paycom update
 

Well I talked to the people at paycom yet again to find out where my checks are. Im now told that i'll have a check friday (first check from them since I started using them in January) and it's not even for the full amount which I find odd since the last signup I had that used paycom was 10 days ago (the rest were ccbill).

The also told me that there is a 3 week delay on checks. I don't know about you but I prefer not to wait 3 weeks for my money.

So, I have decided to search for additional processors (that pay weekly) and are reliable. Who elses is out there that's good besides ccbill?

Nobody really I know off ;-(
However I am watching this threat to see if somebody knows of some other billing..

You are going to have to invest money to make money.
You don't even process VISA, which probably means you can't afford to.

I was going to suggest your own merchant account and go with Netbilling, as CCBill and Epoch are probably the only two processors left. But if you can't afford the VISA fees, I doubt you could afford to get your own merch account.

Also, up until recently we had been using Epoch for many many years, and never had a problem with checks. Do they have a variation of your story, perhaps? :)

I just spoke with Amparo about this. They do pay 3 weeks late, but they do NOT hold a reserve. The 3 week delay IS the reserve. That seems reasonable to me.

I would not use epoch for a new site. They keep screwing me - just because they can - and I'm sick of it.

Paycom's payout policies are not difficult to understand. I'm not going to address any specific person or program here but will say that Paycom pays out each week to all clients and affilaites who meet the minimum $50 payout requirement.

Just some of the larger programs have billing of their own. BUt you know how that goes.

Heather

I can probably help you with a merchant account. The bank deposits directly into your bank account every 2 or 3 days depending on which merchant bank I place you with.

And its not always as nudecanada suggested - you won't necessarily have to pay big money for one. If we can place you in the US rather than offshore or EU rates are surprisingly low. All comes down the details of your individual site/needs

email me and I'll give you all the details ;)

Post the costs to set one up then.

Well most of them have merchant accounts in place with a payment gateway. Some cascade those with 3rd party processing and some don't.

Just curious,

What are your monthly minimum requirements for US, Offshore & EU??

calm down sunshine, I have nothing to hide and figures might indeed shock you

Setup Charge 79.00
Monthly Charge 12.00
Per transaction Fee 0.45 (includes gateway)
Discount Rate - qualified, with /AVS/CVV2 fraud scrub included 4.00%
Rolling Reserve Fund Fee *variable
Chargeback Fee $25.00
Monthly Minimum $25.00
Annual Account Fee $59.00


this is for US low volume accounts only
there are restrictions for some things of course but thats true for many banks.
We have over 8 banking solutions with 4 more in the final stages

Anything offshore or EU, UK will be a bit higher and other costs are involved, those are the types you were probably referring to

nice offer vicki, please post your icq

Rick, Although I wish it weren't true, each and every bank is different but I'll give a synopsis:

for offshore you'd probably want 100k
EU about 50k
Asian - the more the better lol

US is a hard one at the moment as anyone that is HONEST will tell you (many won't). Two big banks have issues going on for placement right now, one isn't taking new apps and the other has all but closed down its offerings .. many people have applications pending since last year.
Another has specific criteria for placement but no minimum requirements

When it comes to non US mercs the best thing I can tell you is that high volume (and good credit) counts for everything including lower rates and better banks.

Now don't get me wrong .. i CAN and have placed lower volume accounts in all these arenas, I'm just telling you what is recommended for the best results. Thats kind of why I like dealing with people one-on-one vs posting details on a board, what I would recommend for one client isn't always what I'd recommend for another.

Just like personalities, each case is different and needs to be addressed on its own merits :)

thanks :)
ICQ 74296746
toll free # 866-667-1323
(central standard timezone)

I am leaving for a funeral (friend) in about 25 minutes and will be gone for a few hours but anyone needing me, please feel free to leave a message and I'll get back to you asap

I'm perfectly calm, sunshine. Lose the snappiness, I might be a prospective customer. :winkwink:

So what can you do for Canadians?

And what are the restrictions on that US merch account you just posted? And who is the gateway for it?

lol I wasn't trying to be snappy, that 'sunshine' word is one of my southern weaknesses heh heh

Actually you hit on a very common perception of the merchant accounts. Many have learned from past experience and/or word of mouth that there can be large expenses involved with this ... and sometimes there are!

Like I said, its unfortunate but true that every single bank is different and has different criteria set for it. Some offshore banks are just horrendous for gouging imho. I very, very seldom will work with a bank I'm not fully comfortable with. I can tell the client about them if there is no other alternative but .... well enough said on that. lol

Canadians are a unique group, its peeves me to no end that US banks consider ALL canadians high-risk, doesn't matter if you are selling tennis shoes or porn subscriptions! Sorry I digress ..

For you guys I like to go find out volumes, cb ratios and credit issues then find out if you are incorporated in the US.
Depending on details some US banks will allow for Canadian ownership and I would try to place you here.
If once I know details its obvious I can't use a US bank then I'd suggest probably an EU solution.

I'm sure you are well aware of trying to obtain the types of accounts you'd need from a Canadian source, its a nightmare and why so many vendors go with US/EU.

BTW US banks require non residents to have:
US corporation with tax ID number
US bank account
they must also provide 2 years of past tax returns in many instances

I'm finally back
for those of you who left a message I'll be responding soon :)

vicki, are your rates comparable with netbilling? I have an app from them sitting on my desk, I'd love to get something to compare it to.

Like I mentioned earlier there are issues going on behind scenes with a couple of the US banks taking applications - that affects everyone trying to place US. There are still SOME US options but not many. EU, Asia and even offshore are no problem.

That said, I'd be happy to compare banks, rates and options for you if you like - just know I'd never say anything bad about Netbilling ... I happen to like them :)

(I'd like everyone to understand that interchange rates were raised from the Card Associations in March so older rate sheets by some companies may be outdated. If comparing, you'd have to check with them to make sure their rates are current)

Paycom ROCKS!!!! Never had better support, checks ALWAYS on time if not early. Checks come WEEKLY like clockwork, if you can't afford to wait 3 weeks for your 1st check to come, maybe you ought to get a second jobbie job...

The support there is awesome, they usually handle your request/problem in under 5 minutes...

They actually go over your site with a fine toothed comb to make sure it is Visa compliant, which tells me that they actually want to stay in business and are on the up and up...

Wow just looked at your site... somethings you may want to change...

under checks you say *Credit Card*... probably should say Check.

And do you really think surfers are stupid enough to pay $3 more for a non-recurring membership rather than buy the cheaper one and then cancel anyway?? Why not make one membership, make the initial signup the higher price and reward those that stay a member by making the rebill the lower price... Just my opinion...

What about the high risk fees for mastercard and visa for adult ?

heh heh heh
there for a minute I thought you were talking to me. What can I say, its been a long day lol

vicki = zzzzzzzzzzzzzz ;)

Actually you are correct, we ran a special for two months where we waived those fees but that special just ended a few weeks ago and depending on the type of sites .. would need to be paid.

We use Netbilling as our gateway, get paid every day and could not be happier.

Z

Vicki,

Do you guys support Netbilling? We are always looking for more merchant accounts to have. What domestic banks do you setup at?

Z

depending on type? all adult sites need to have that. You merchant account sales people are all the same no one gives a straight answer lol

Actually, it depends on if you are processing adult products or memberships, domestic or offshore, from what I know.

Zprogramz is correct tony, I'm not trying to be evasive.
It always DOES come down to specifics
product sales, audiotext, streaming and location .. all these different things play a big part in the question you asked.
Unfortunately thats just part of the business

To be completely specific, I'd have to ask you to post your monthly volume, your cb ratios, location, processing history, type of products/services you offer etc
I seriously doubt many webmasters would be open to posting stuff like that on a public board.
And All it takes is a 3 minute phone call or a quick email to find out anything you want to know beyond generalities from me.

I could give you one instance where a banking solution defys the rest of the world. How about a bank in Asia that doesn't require adult registration per say - yet they are FULLY V/MC compliant .. and the vendor IS coded as 'adult' etc.

Now I won't go into a long drawn out explanation about that bank here because I know most clients may not fit the criteria for placement.
All I'm saying is the world's a big place and there is no such thing as a cookie cutter solution ... so take the two minutes to email or call ;)

Z

When it comes to merchant accounts and payment gateways, it all depends on if the gateway can interact with the platform the bank uses.
Although I do know Netbilling works with most (if not all) the US based platforms, I do not know specifics on others .. sorry.

I can say that many non US banks like to require use of their own pre-designated gateways .. but .. there ARE ways around everything nowdays *nudge*

Because I will only deal with banks that do NOT charge an app fee until I've gotten a pre-approval (if at all) for the account, I can suggest submitting for one then finding out their platform and asking Netbilling directly?

You know where I am if you need me :)

ok - thanks for the info. Do you have other domestric banks that will take high risk besides Merrick and Humboldt? We apready have acohahahahas there but are looking for more.

Thanks, Z

bumpsky - awaiting a reply post

Z

Presently there is only one other and its narrowed down to a very particular business model. Without knowing the types of sites you run I can't say if you meet those requirements or not .. I can tell you they cap for volume though.

In November I'll have another domestic solution with access to the entire adult bin. Although they've always taken high-risk accounts, they had a 5 year morals clause pending from a sale that has kept them from doing adult. That expires soon and I'll have exclusive entry once it does.

My question would be why haven't you considered an EU account?

BTW - Its good that you are already setup with Merrick as they have all but closed approvals down there for the present ;)
As you know, the US market has all but dried up except for one or two solutions and thats due mainly to the administration and visa/mc pressures. While once upon a time there were many US banks allowing adult memberships, those times are now long gone.

I always get my money from paycom.

The 3 week hold back is normal. Plus no reserves. I dont know what the problem is heather. Thats pretty standard policy.

Duke

We have about 40 sites and they all fall into the 5967 category. We would be looking for about 100k in monthly volume to put through a new account. We already have EU accounts as well.
What is the other domestic bank that you have?

Thanks

paycom always pays the stc family

Hi Z

Unfortunately the only two domestic banks that will/would approve 5967 are the two you already have and they are over ratios at the moment so won't place.

The third bank I'm reluctant to name openly on the board because I don't want others running to them for a solution without fully understanding how they operate. They sorta fly under the card association radar by using a 'technicality'. I never place accounts through them without speaking one-on-one to the principle owner and explaining things right up front and offering secondary solutions .. if thats the one they choose .. fine, but at least I know I've been straigh forward with them about it.

Are their some that can be placed at that bank with no worries .. absolutely and lots of them!! But for anyone doing non-product memberships, IMHO they need to be aware of specifics before applying.

I want you to know that I did take the time to contact 4 other ISO's that place in the US and not one of them have an adult solution other than those we've discussed. It seems they are all kind of waiting on me to open that bin I mentioned earlier lol

If you are interested in another EU, Asian or offshore solution, let me know and I'll take care of you as best I can :)

Sorry I haven't replied until now. I wasn't home much this week. My yorkie is due to have puppies anyday now so I have a lot of last minute things to settle.

Anyway, like I said, I am having issues with paycom. Last I heard from them (wednesday) they said i'd have my money this Friday. Well still no check and it's Saturday. This has been going on for months and yes I met the min, a while ago.

Most people that join my site shoose to use ccbill which is good because i've never had an issue with them not paying me.

I may just get rid of paycom all together and pay ccbill the visa fee.

heather, there is a 3 week rolling reserve meaning u get paid for the first week on the 4th week and for the 2nd week on the 5th week.

our checks from paycom have always been on time, and support has been superb.

and aico, lots of surfers pay $5 more for non-recurring options.

Do you have a stick lodged in your anal cavity?

Sorry Heather, I didn't mean to threadjack you, I was only trying to offer you an alternative and other important questions came up :)

i'm sure paycom will come through for you but if not, ccbill seems to work well for you

So you are saying that Paycom doesn't take a holdback reserve anymore? That's strange because they still take money out of my check every week for the reserve. If they aren't supposed to be doing that, then I would like to know so I can get all the money they have of mine. They have it sitting in a savings account making mad interest off it and I would rather be making the interest on it.

I've been contacted by a webmaster or two that are confusing me with ECS UK

I just wanted to make it clear that we are in no way associated with that company. ECS Commerce is based out of Florida and have no ties elsewhere.

Yes I am aware there is a 3 week delay, however its been longer then 3 weeks, and I haven't received a dime. I was told last week that "you'll have your check on friday" but of course, no check arrived.

Vicki, it's ok. I don't mind. Im the one who asked if there were other billing options available. You just responded to that :)

Well, if I don't receive my check this week, im pulling paycom from my site.