Hello!

Anyone having troubles with Ginix.com 3rd Credit Card processor?
(payout related)

Thanks in advance for your cooperation.
Kind Regards

Hi there.... i too am a victim of Ginix's bogus business ethics. They owe me approximately $1000.00 that was in my account and i have lost $100,000's in sales and revenues. Could you tell me how you went about suing them to get your money back ect., ect.?

It has been about one year now since they ' closed ' my account adn i am still getting thier lame emails to inform me that thier accounts have been seized and that i will have to wait until they have been released before they can pay me.....GRRRRR!!!!

PLEASE, if you hear of or know, i am begging you to send info on how to get them dawgs to pay me!!!

Ginix is a SCAM!!

I believe there are many post on WHT about Ginix.com, mostly bad. Take this one for example, http://www.webhostingtalk.com/showthread.php?s=&threadid=266588 , I believe that should answer your question. ;)

We never saw that money. It was at the end of August 93.
They stop to send those emails at the end of December 2003.
I'm thinking on register a domain like ginixisafraud.com and pointing it to them... or place a forum on it so anybody can express an opinion about them.

We know they usualy have merchant account at Concord (http://www.concordefsnet.com/). Maybe if you tell them about this issue, Concord cancel Ginix merchant account.

We also made an denounce to AmericanExpress but we have only 3 or 4 payments with AMEX. AMEX told us and we explained the situation and sent a fax with all transactions. I don't know what they did.
From VISA we never received any reply. All transactions we have was made using VISA.

I hope you can help closing this fraudulent "company".

Ginix.com and Bank of America have stolen hundreds of dollars from merchants who have yet to be paid. Don't go with them and scour the net for more info. It will be available soon.

If you get their accounts canceled wont other people be in the same situation as you?
I think you should get people to just stay away and make sure everyone collects their payments so as not to fall victim.

How come though when pays***ms refuse to payout, people dont moan. I know a few people that have had their payments held for 6 or 7 months but dont want to post around incase they loose their money for good.

I think your're missing the point. Myself and many others have ALREADY lost our money. I have no reason to believe that Ginix will refund any of it at any time. Bank of america is a party to this as well. I think some well deserved "Moaning" is entirely in order. How pathetic that someone would just sit back for months and months and be too timid to speak up. You can sit back "hoping" that one day out of the clear blue you'll open your mailbox and there will be a check from Ginix made out for the entire amount that is owed you. Good luck. I don't know about you, but I get very angry when someone steals from me. It is an utter violation and betrayal. As far as other people being placed in a negative situation due to these posts, I can't be responsible for something that hasn't even happened. Anyone who continues to do business with Ginix will ultimately get the short end of the stick. People need to be made aware of this and than choose for themselves.

By the way, if there people out there that are owed money by Ginix and want to remain anonymous, email me at holly97871@comcast.net and you won't be mentioned on any boards.

It has been over a year now since Ginix has with held my wife and I's funds. This is the first forum we have found to voice our opinions and we are DEFINATELY NOT intimidated to speak of our anger and outrage of the with holding of our funds over such a long period of time and the non-reversable damage they have caused or online business and livelyhood.

If we had enough money to persue these scammers in court we would have because what they have done is truly criminal. For those that don't speak of thier anger and outrage out of fear of reprisals from Ginix i feel they are truly asking to be ripped off.

Sometimes i think to keep one's emotions in check and lay low until cooler heads prevail is necassary but after one year it's past due to rise up together and stand united as one to get Ginix Inc. to PAY what has been rightfully owed to us!

DON'T SUCUMB TO THESE CRIMINALS - POST YOUR STORIES/EXPERIENCES NOW!

No my point is that they're still taking customers. 3rd party systems depend on 1 central account. If that account blows then another must be used. If your funds are tied up in the blown account that its just bad luck. Its not your fault but some other merchant who caused it (High chargebacks usually).

The company probably can't afford to pay its merchants until the bank finally release the funds. This can take ages.

They are able to take new business on because they probably have new accounts to place the customers.

My other point was that pays****ms has been doing this for years and so have many other processors. All you can do is sit and wait. Kicking up a fuss will probably only result in slowing the process down further as the banks will want to investigate further. I know its a pain as thats your bread and water but to be honest its your only choice.

Gavin.

My point is that if there are charge-backs directly incured as a result of using Ginix's supossidly 'secure' system then the fault lies on Ginix Inc. for not having the proper security in place and not the merchant's fault.

As mentioned in another forum, if Ginix has another bank backing thier business then after 1 years time Ginix should have the ability to use the new bank as a way to pay for the people that got shafted while using Ginix when they had thier first bank backing them.

Ginix should not be profiting while in debt to merchants that fell victim to thier security ( or lack of it i should say) while owing monies to these people.

Chargebacks are nothing to do with security. The chargebacks could be due to any problem from a merchant going bankrupt or even a fruadlent merchant.

They could use the the new bank to pay you if they were not making suffient business to cover their costs. The bank is only used to process the credit cards so how could that be used to pay you when the transactions are from new clients on that account.

This has nothing to do with security maybe their risk department should be sacked and replaced. If they have a correct setup you will be paid but i may take a while.

Security on thier website is the basis for fraudulent transactions. The lack of a secure website form allowed for many bogus transactions.

IF the required info for a ' safe ' transaction was included in thier website design ( online form you fill out to place orders online) then the chargebacks wouldn't have accured in the first place.

For example- CC numbers can randomly be created from various software programs..... BUT .... if the online order form asked for the 4 digit number on the BACK of the Credit Card then the order wouldn't have been able to be placed in the first place thus no charge back would have encured.

It seems to me that would have been the easiest way to remidy this security risk without much work at all.....just a simple change using any old HTML editor would have done the trick.

ONLY the person actually holding the credit card in thier hands physically would be able to reda this number..... make sence?

The "oh well" attitude will get you NOWHERE. What 74s3 is saying is "shut up and wait some more". Please! TIME'S UP. Ginnix is a criminal company. They way the have been able to get away with their theivery is sinful and they are not going to willingly give anyone their money back. What part of that don't you understand? You obviously have not been in the same position and it has NOTHING to do with "Bad luck". It has EVERYTHING to do with being pushed aside as if you were absolutely nothing and have absolutely no right to your own money! Ginix most likely could have paid these people, myself included, regardless of whether or not their equally crooked bank frooze their funds. This company MAKES MONEY - ALOT OF IT. They just didn't want to and they still don't want to. They are advertising in Google Groups for technical people to hire. They describe themselves as a "Pre IPO Company". I think a major law suit will squash whatever plans they have of that happening. Their stock will be worth nothing. I also think that Bank of America is doing business with them even now because of that. Why would a bank decide to freeze your funds, but still allow you to do business? These are things I'm sure will be found out soon enough. Bottom line, whoever you are 74s3, I strongly disagree with your suggestion that people should sit back and wait for Ginix to come through on their own valition. STRONGLY DISAGREE.

Whats the point of posting here if you you do is get flamed.

I agree they should ask for Cvv2 numbers and i bet they do now as its usually a bank requirement all around the world.

I still stand by my words and this is from someone who worked in the banking sector for 25 years. You should approach the card aqquirer through a good lawyer and put yourcase foward. If you go in guns blaring the bank will become nervous and never pay out. My main point is you must stay calm over the situation and approach the banks in a possitve and proffesional manner and by doing that would speed up your payout process. By also approaching the bank direct you would also give the processor a very bad name which i think is your other goal.

Dont flame me for posting the truth, work with people here and use their experience and together we make this industry a safer place in which to do business.

This industry would be a much safer place to do business without companies like Ginix. I guess you just don't understand that Ginix is NOT giving me my money back and has never responded to a single email. I've never received a single form of communicatino from them in the past year and I have given them every opportunity to resolve this matter. I am not flaming you, you just don't seem to understand this from a merchants prospective. It's time to get up in arms and strir up some dirt. I was very quiet and patient for a year, no longer. I have every right to voice my opinions and apparently, I'm not alone. Why would a bank become "nervous" and decide not to "pay out"? You either owe someone money or you don't. Anyway, I intend to get my money back in FULL by any means necessary.

If they are not international merchants or Adult merchants typically it is because they have had trouble in the past with a standard merchant account. Many of them are on the CTMF list and have to go with a 3rd party processor because no US based merchant account can set them up anymore.
Thanks

... i can only speak for myself but for me being a Canadian citizen it would have been VERY expensive to get my own merchant account. That is irrevelant to the point trying to be made here.....

When a company such as Ginix Inc. offers a service and promises to use only the best security and anti-fraud online protection then they should provide such services and merchants should be able to trust in what they say they are going to do. If they take on ' high-risk' accounts then they know full-well the implications and what 'might' happen. Everything that went wrong with Ginix's online system was COMPLETELY thier own fault. It was obviously a very poor system whith many security faults.

When/if they fail, the merchant shouldn't have to be the one to swallow all losses and be put on hold for over 12 months waiting to get funds refunded.

If you think that we merchants ( clients of Ginix Inc.) should accept the loss and that is the way it should go then i think personally you have your head screwed on backwards.

Hoolyman, we can all appreciate and sympathize the position that you and other Ginix merchants have been placed in.

74s3 is simply trying to suggest that while you can of course "vent freely" here on the forums - when you actually approach a bank or processor or 3PP you will want to do so in a very professional and calm manner and would benefit greatly from legal assistance in this process. Otherwise, you won't be taken as seriously and you may not achieve your desired outcome.

In regard to your question here: why would a bank become "nervous" and decide not to "pay out" - I'll take a stab at explaining this a bit further as it is important to understand the entire process behind the scenes.

The reasons are many. To begin with, it is important to first realize you and the other Ginix merchants are NOT a customer of BofA.

In fact, BofA has one customer in this situation - and that is Ginix. Ginix is the only company that BofA has a contractual relationship with.

If Ginix was in breach of their merchant agreement with BofA or otherwise caused a risk situation to take place, BofA would have had the right to hold their funds in a security reserve.

The reason why BofA would hold funds for up to 6 months (180 days) is to cover the chargeback liability window that exists on VISA/MC transactions. Sometimes this window can be longer or shorter depending on the exact situation.

So while it would be nice to think that BofA would just say "ok - I see that you are owed money from Ginix so we'll release that directly to you" - they would not have any legal authorization to do so unless they were somehow appointed as a legal trustee for Ginix.

BofA's responsibility is to release the funds to Ginix once the liability window has expired, and then Ginix is responsible for handing those funds out to its sub-merchants as appropriate.

Thanks....but i think being in my 40's i already know how to conduct myself in a 'proper' business manner where the situation merits it.
I think you have me confused with MissHolly....i never said i was after BofA and realize the responcibilty to pay/release funds lies soley on Ginix Inc.
I also realize and excepted that a certain ' percent' of all transactions are kept in holding until the transaction have been complete without chargebacks.
What i am upset about is that ALL funds have been with held for OVER a FULL YEAR and GINIX Inc. is STILL taking on new clients thus they must be dealing with some other finacial resource so they must be turning some kind of profit wich i fell they should be paying merchants because not ALL if any, transactions were NOT chargebacks.
This brings me to the point of 74s3 suggestions everyone stay, " Hush, hush" about Ginix Inc. Maybe if there was enough of a fuss raised in the beginning then Ginix might not have got any further finacial backing to continue to do business and scam people. Maybe if everyone that has fallen victim to Ginix had spoke up earlier the BofA might have taken action in regards to the mess that Ginix has created and started resolving matters sooner. Who knows....

I take issue with azemonkey2. I'm sure some of the merchants who are with Ginix are high risk businesses in some way or another. However, most ecommerce businesses are looked upon by credit card processors as "high risk" any way, but, that IS besides the point. I don't think you are seeing the whole picture. Yes, Ginix is the customer of Bank Of America, but BOA has agreed to keep doing business with Ginix, freezing only SOME of their funds. I talked to the person at BOA who is handling the Ginix account and he implied that perhaps I would be happy if I received some money now as opposed to nothing. In other words, would you settle on the dollar amount and maybe I can get Ginix to do something for you? If BOA was holding the funds, why on earth would this person say someting like that? The truth is there has been no disclosure regarding this situation and as far as anyone knows, Ginix could be just sitting on the money, collecting interest. I don't trust any thing this company does. Ginix has the means to refund all merchants money out of their own pockets but obviously won't consider that option for a second. They have been allowed to remain in business while many merchants have lost their livelihood due to Ginix. Wouldn't it be great if I could just tell my mortgage company and all of the other people I owe money to regularly that "hey, guess what? I can't pay you anything for about a year because someone owes me money and you'll just have to wait until they give it to me". That's what Ginix has done.

...i STRONGLY AGREE with misshollyann

Chris,

You said what i was trying to say (my english is awefull :) )

I agree that the only way merchant will ever get their funds refunded is to contacting ginix bei t by telephone - fax (emails are to easy deleted). You could even have people write emails to the CEO.

The at least should give you an update into the situation with some type of responce of how long it maybe. Ifs it been over 1 years then that window must be closing very fast and then payout to you should happen.

Either way I wish everyone the best of luck.

Gavin

This is directed to misshollyann. I know that the ginix issue is a big blow to your business and if I were you I would want to get my money back too. But I would not let it ruin my business. There are hundreds of standard merchant accounts out there that you can get a standard merchant account with. I think that it is admirable that you want to fight Ginix, but as long as you are not on the CTMF list you should be able to get an account to keep your business going. You cant make any money if you cant process credit cards for your business.
Have you found a merchant account for your business? As long as you are not selling high risk products it should be simple for you.

Manufacturers Bank's Attorney emailed me yesterday. He said that they have released "millions of dollars" to Ginix Billing and that there is no more money being withheld. He did not tell me exactly WHEN these "Millions of Dollars" were released, but I emailed him back and am waiting for his reply. In the mean time, I'm not sitting back any more just waiting. I think I may have found an attorney who is interested in taking this case on. I have emailed Ginix many times and have not heard back from them in over a week - Big Surpirse there. I have informed them that If I don't receive my money by May 25th, I will go forward with my suit and it looks like it may turn into a class action suit. After that point, I will not settle for anything less than interest, attorney fees and PUNATIVE damages. Believe me, this company has money and they could have refunded everyone long ago. They represent themselves as a "pre IPO company" and we are looking into possible FTC violations. If anyone is interested in being a party to this suit, please email me or post an interest in doing so.

I wish you the best of luck in your actions and I do sincerely hope that you and the other affected merchants do get paid on the funds owed to you. Perhaps the mere threat of a bonafide legal action will be enough to stir them into action.

Especially now that Ginix has received all of the held monies from MB... I see no reason why they can't release it back to its merchants as this is no longer any risk in them doing so.

depending on costs involved, i am intrested.

Please keep me posted to any further info....

I received an email from Ginix where they claim they owe me roughly 10% of the actual amount. They still will not address the issue of WHEN they will be paying me, nor will they provide any real documentation in the form of an itemization of all amounts. Instead, they are attempting to keep 90% of what they owe me. Real scumbags. I'm actually looking forward at this point to suing the hell out of them. They're absolute bastards. My forum will be up soon and I'll make sure the whole world knows to stay away from them. To all of you who are still waiting to have your money refunded, don't be suprised if they pull this on you as well. And DON"T accept anything less than what they owe you or you will eliminate the opporutnity to sue them for more. They are systematically screwing people over, so DEMAND you receive the FULL amount, not pennies on the dollar.

i hear you...i got the same email roughly. They say that the money has been released to them but they have to figure who gets what.....another stall tactic in my opinion. I want 100% of what they owe me and nothing less!

What really burns me up is that they no longer allow me to access my account wich after one year, leaves me only 'roughly' knowing what they owe us....scum bags for sure.

I would imagine that for some lucky lawyer if he/she took on this case, would end up with a hefty chunk of change.....