Email from Ibill - FYI

Vick · 11-18-2003

Haven't used Ibill as a processor for 2.5 years but still have rebills (yes Cloud 9 Entertainment members stay that long)

I get this email today which is a little confusing. Does this mean Ibill gets to keep the reserves (what are permanent reserves as referred to below?)

Ibill has already debited me for holdback for the period 10/1 to 10/31 - is this an additional hold fee?

So I call and you can guess no one can really answer what the email is about except it went out to parties that have over 1% CB ratio but guess what ..... I haven't had a CB or refund with Ibill since April 2003!!!!

Am thinking this is in error and won't apply to me but (of course) my account rep isn't in and support couldn't answer

Here's the email ......

Dear iPay Complete Merchant,

As disclosed in your contract, iBill is required to withhold certain amounts as credit card reserves on your account. Please be advised that iBill will be debiting your account on Friday November 21, 2003 for credit card reserves. The hold fee will apply to credit card sale transactions from October 1st through October 31st. You can estimate the amount of the debit by taking the gross Visa and MasterCard sales in October and multiplying the total by the appropriate reserve %. Please make sure that sufficient funds are in your account to avoid any additional fees.

You will be able to identify the debit by the following descriptor:

"iPayReserves"

Going forward, reserves will be collected once per month on the 15th for the first six months of service only. Once reserves have been collected for a full six months, that amount becomes the permanent reserve for your account. These reserves will be assessed periodically in relation to your business volumes and chargeback levels, among other things. Should it become necessary, iBill reserves the right to collect additional reserves.

If you have any questions or concerns, please call 1-800-764-4266 or email support@ibill.com

Thank you for your business.

iBill

Mike AI · 11-18-2003

Looks like a goat fucking to me.

<_<

Vick · 11-18-2003

ok reading and rereading this maybe the permanent reserves are 10% collected on the first 6 months from any account and then held and won't roll as most reserves do now

Could that be very risky?

Trev · 11-19-2003

We've been getting a similar email on a fortnightly basis from ibill:

Quote:

Dear iBill EU Client,

Earlier this year you received information via e-mail reminding you of issues related to our international processor and acquiring bank in regards to reserves and associated payouts. Specifically, the communication referenced your iBill EU contract agreement and stated that should our European processor and acquiring bank choose to withhold reserves for any reason, iBill EU would consequently be required to suspend reserve payouts to clients.

One of the criteria our processor and acquiring bank is using in determining reserve holdbacks of all credit card reserves is chargeback ratios. As a result, 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 November 19, 2003.

Please be assured that we are working diligently with our bank to have these funds released as soon as possible. We will follow up with additional information soon. Please feel free to contact us with any questions you have at support@ibill.com or 954.363.4949.

Sincerely,

iBill EU

If I could be bothered to reg with visa through iBill I could get the $302.45 they owe me but I'd rather have my processing else where...

Trev · 11-19-2003

Oh I forgot to add, how can I be getting chargebacks when I have no members and I don't process through iBill???

Dravyk · 11-19-2003

They've just completely lost their minds, it seems.

Winetalk.com · 11-19-2003

Quote:

Originally posted by Dravyk@Nov 19 2003, 03:22 AM
They've just completely lost their minds, it seems.

how can you lose something you never had to begin with?

HoneyBlond · 11-20-2003

Quote:

I haven't had a CB or refund with Ibill since April 2003!!!!

We received the same email as well Vick, and we have NEVER gone above 1% even when the limit was higher.

<_<

Vick · 11-20-2003

Just got off the phone with Ibill and as I suspected it didn't apply to me

But we'll still see what happens tomorrow

11-18-2003	#1
Vick Celebrating Company's Success with A Beer From Mini Bar Want to see your own Advertising Here! Join Date: Oct 2002 Location: Little South of Sanity Posts: 6,551	Haven't used Ibill as a processor for 2.5 years but still have rebills (yes Cloud 9 Entertainment members stay that long) I get this email today which is a little confusing. Does this mean Ibill gets to keep the reserves (what are permanent reserves as referred to below?) Ibill has already debited me for holdback for the period 10/1 to 10/31 - is this an additional hold fee? So I call and you can guess no one can really answer what the email is about except it went out to parties that have over 1% CB ratio but guess what ..... I haven't had a CB or refund with Ibill since April 2003!!!! Am thinking this is in error and won't apply to me but (of course) my account rep isn't in and support couldn't answer Here's the email ...... Dear iPay Complete Merchant, As disclosed in your contract, iBill is required to withhold certain amounts as credit card reserves on your account. Please be advised that iBill will be debiting your account on Friday November 21, 2003 for credit card reserves. The hold fee will apply to credit card sale transactions from October 1st through October 31st. You can estimate the amount of the debit by taking the gross Visa and MasterCard sales in October and multiplying the total by the appropriate reserve %. Please make sure that sufficient funds are in your account to avoid any additional fees. You will be able to identify the debit by the following descriptor: "iPayReserves" Going forward, reserves will be collected once per month on the 15th for the first six months of service only. Once reserves have been collected for a full six months, that amount becomes the permanent reserve for your account. These reserves will be assessed periodically in relation to your business volumes and chargeback levels, among other things. Should it become necessary, iBill reserves the right to collect additional reserves. If you have any questions or concerns, please call 1-800-764-4266 or email support@ibill.com Thank you for your business. iBill __________________ Pssst Click the Button Above I once wanted to be a Gynecologist But I couldn't find an opening

11-18-2003	#2
Mike AI Administrator Want to see your own Advertising Here! Join Date: Oct 2002 Posts: 11,618	Looks like a goat fucking to me. <_< __________________ Make big money on your Domains! Why wait 40 days to get paid with the other guys? Parked.com pays the most for your traffic, and cuts checks twice a month!

11-18-2003	#3
Vick Celebrating Company's Success with A Beer From Mini Bar Want to see your own Advertising Here! Join Date: Oct 2002 Location: Little South of Sanity Posts: 6,551	ok reading and rereading this maybe the permanent reserves are 10% collected on the first 6 months from any account and then held and won't roll as most reserves do now Could that be very risky? __________________ Pssst Click the Button Above I once wanted to be a Gynecologist But I couldn't find an opening

11-19-2003	#5
Trev Cunty Want to see your own Advertising Here! Join Date: Jan 2003 Posts: 10,150	Oh I forgot to add, how can I be getting chargebacks when I have no members and I don't process through iBill??? __________________ Sucks to be you.

11-19-2003	#6
Dravyk Easy Like Sunday Morning Want to see your own Advertising Here! Join Date: Oct 2002 Location: Behind a couch, somewhere in Philly Posts: 7,628	They've just completely lost their minds, it seems. __________________ All Of 'Em Mainstream Webmasters New: WebmasterConventions.com

11-20-2003	#9
Vick Celebrating Company's Success with A Beer From Mini Bar Want to see your own Advertising Here! Join Date: Oct 2002 Location: Little South of Sanity Posts: 6,551	Just got off the phone with Ibill and as I suspected it didn't apply to me But we'll still see what happens tomorrow __________________ Pssst Click the Button Above I once wanted to be a Gynecologist But I couldn't find an opening