Bankrupcy in the US ... Is CCBill safe ???
 

With all the bankrupcy problem in the states ( Thanks M.Bush !)

Is our money safe with CCBill ?

Has CcBill taken security steps in order to protect themselves?
I'd like to know what has been done in order to protect our business...

ccbill will bail out the fed

And GFY will bail out Playboy!

Is CCBILL fdci insured? If not you best take your money and run:Oh crap

If we go down here in the US, all the world banks and economy's will suffer

they use BOA

just when I was having a good evening.

I need to have a public CCBill answer on this question...

Ron can bail out the US with his watch!

what do you expect them to do? come on here and post that they are safe and you'll be happy? :)

you know they are considered one of the "safest" and a company like that has their ducks in a row, you know of someplace safer to send your traffic?

id be surprised if they even post a response to this. if they had not established enough trust and goodwill by now to make you guys comfortable, i dont know who else has

ccbill don't have politicians or bankers on board :)

I want them to say what precaution they took.
I will then judge myself if I am happy or not and act consequently.

Do you have anything constructive to say ? I don't see how your post
can be any helpfull here.

:1orglaugh:1orglaugh

I was thinking the same thing.

I would not be too worried about CCBILL. I don't think they have any subprime mortgage holdings ;)

is this a serious question?

Another brillant brain here...
What will you do if the bank they do business with goes bankrupcy ?

Lol CHMOD you're too much. Seriously, you're killing me here.

hey genius, who are you going to switch your traffic to thats safer than ccbill?

Wow !


I am VERy impressed !!

I read a lot of replies from very, very clever people :

warchild, count of monte cristo, banthis, webmastercheck

Who were very quick to point out how stupid I am.

I am indeed very stupid because I still don't understand how CCBill could survive
if their main bank goes bankrupcy.

I now know that I am very stupid, thanks to you guys... But hey... care to
explain how is CCBill safe ? I still didn't read any argument supporting your brilliant opinions.

I remember lots of VERY brilliant people, just like you guys, stating the same about
GloBill, Ibill and DMR.

Remember this ? Or maybe have I been in the industry for a bit longer than you ?

CCBill (or any billing company) should be the thing you're worrying about the LEAST today...

Here's a fun movie to rent today: "Rollover" (http://www.imdb.com/title/tt0083006/). "An Arab oil organization devises a plan to wreck the world economy in order to cause anarchy and chaos.".



m

look at the check, bank of america, very safe bank, that may be one of the reasons you are not being taken seriously

I'm gonna laugh when all the people in this thread shit bricks when they go broke, so CHMOD can laugh at them and call them stupid when they ask legitimate questions.

When unprecedented bank failures are going on, he is certainly not stupid for being concerned about banking relationships of people he does business with.

As far as I have read nobody has lost a merchant account over this. All the banks have had there accounts grabbed by somebody so I don't see how this affects processors. Hell even Humbolt is still processing.

I don't know CCBill financial situation but I do know they always pay on time.

The way the have operated has always been professional. I would hope that they would have strategic partners as a security measure if something fails or insurance.

I don't think CCBill would ever post in this thread about there financial shit.

No use in guessing. Real question is, can you get something else that's safer?

They pointed out how stupid the question was because it was a stupid question.


If you want to know how safe the money is, call up BoA and get the same BS answers the other banks give every day, even on the day they go out of business.

Like anyone is going to say, you know - it's really bad right now, money is tight, shit sucks, we are about to go belly up, Being so, you should. Do nothing, if they really went out of business, you wouldn't get a dime. You can't move your members, you don't own them, the money isn't yours, and CCBill isn't a bank with insurance just for your account.

So belly up, real eco issues, visa pulls = all of us getting screwed.

That's why it's a stupid question.

If boa is safe then ccbill is also safe.

Great point Charles. :thumbsup

I am always amazed how GFYers are quick to bash. Without much analysis tough...

When I got to know that GloBill didn't take any serious precaution in order to comply with Visa new regulations, I switched to another processor... Guess what ?

I lost very few money when they shut down.

If CCBill don't take the precaution that satisfies me, I will use another processor.

I can't imagine it didn't cross anyones mind here that switching to another processor is possible ?

In fact, if CCBill doesn't answer at all, I will switch to a german processor.

But you are all (well most...cause it seems like some thinks like me) right. :

I am just an idiot.

sorry, i did not mean to come off that way. you see, i see ccbill as a quasi-government, if there is something wrong, there is not much you can do anyway, they control the purse strings of the money flow. ccbill has problems, hosting bills wont get paid, traffic bills won get paid, advertising shuts down, etc

and in this business, if people panic and pull their traffic, it *will* cause a company to fail.

but yea, i dont think your going to get anything of value from your post, like chris said, with all due respect

Yes, we agree.

No depositors have lost any money due to banks filing bankruptcy or being bought by other companies.

Your money is as safe with ccbill as it would be if you were holding all of the cold hard cash in your hands.

If the entire U.S. banking system goes under, then the paper money will be worthless too. :2 cents:

Makes sense. I just talked to an economist friend regarding this and he told me
that even chinese bankers could be interrested in buying US banks.

Being an American and personally worried about my nest egg. I believe that your money is probably safe with ccbill; i would be most concerned with the dollar. If your sponsor offers the euro as a payout method, then why not go this route. This way the value of your dollar wont decrease as you wait for your check :)

ccbill is solid as a rock

thats what im thinking... In fact i doubt that you should worry about any US company in this case... No company in its right mind would every drive off-course in the name of self-interest at this point. Its like admitting you're a witch in the late middle ages.

CCBill has no control, it's the consumers credit cards that they bill. If their cards go bad then CCBill can not bill them.

but um. if they bill it, wouldn't it be billed already? fyi, companies like ccbill have some juice man.

They are a processor, not a bank.

They get money from peoples credit cards(the "cc" in ccBill) and give you & the paysite some %s, and keep some % for themselves.

Well, what does CCBill do with the money while it's being held to be paid?

Do they invest any part of these excesses assuming they'll never have to use it all at once? They do have to hold money for periods of time.

I guess the question is how aggressive they are at trying to make extra money while the money sits and waits.

Good luck on getting an answer on that one lol. ;)

However, there's no better solution, so just live with the fact that in life there are risks, direct and indirect, foretold and unforseen.

the biggest problem i can see is if business gets so bad from the drastically reduced amount of people having no credit cards, that ccbill goes out of business, then you loose your rebills

but i would hope they could just downscale and keep processing what they can

Actually, CCBill isn't a processor, they're an IPSP. They use a merchant bank (or, actually, I think they have two or three, same as Epoch), so the question isn't as bogus as some might think.

My impression is the merchant banks that handle both Epoch and CCBill's accounts are very large, primarily wholesale/commercial banks. I doubt that they had much going in mortgages, which is the toxic weight that's taken down so many banks.

Additionally, CCBill banks with Bank of America, which is one of the largest, most stable banks in the US. Remember that a few months ago, BofA BOUGHT Countrywide, one of the worst and earliest mortgage lenders. This was engineered by the Feds and would never have happened if BofA wasn't strong and stable and able to absorb the bad mortgages.

Honestly, I don't think anyone, including the people running the bailout, knows where the financial catastrophe will end, and which, if any, banks will be left standing. But both CCBill and Bank of America seem to be among the largest and most stable institutions in their field; you don't hear the Feds even whispering that there are issues with BofA, and you usually hear that about the others (WaMu, Wachovia, Bear-Sterns) weeks or months before the failures actually occur.

In my (unprofessional) opinion, there are things to worry about, but CCBill's stability (or BofA's for that matter) isn't one of them.

I thought the CC was for Cave Creek.

it does :thumbsup

I think the original question that started this thread was asked in an effort to find out just how much risk exists lately with CCBill - given the current economic forecast in the U.S.

Not to compare CCBill with iBill - but a LOT of people lost a crapload of money when iBill turned sour. You can't blame people for asking questions about the security of the revenue their livelihood relies on.

Unfortunately blind trust is a fact of life when it comes to webmasters and CC processors, but one should never label someone else "stupid" when they ask what precautions or pre-emptive actions they're taking to safeguard the ability to continue processing transactions.

I should have known this :

On GFY, simple minds replies in the first place and bash. Intelligent people wait a little, think and then posts.

Thanks SilentKnight, gaybucks, BV, Socks, Matty, SnakeDoctor, Karupted Charles, Retex Josh for your inputs.

Good to see that there are still interresting people on GFY.