Is there any new experiences with MerchantBoss.com?

Are they serious at all !?!?
Their site doesn't tell that

Hmmm, what do you mean?

You will get about 10%
Also, there were posts here about $4.95 to every sale and payable by your customers. Also, someone here was charged $1 for evry transaction. So, speak to their sales firstly.

10% + more than $1 + payments on the customers!!!

Does merchantboos team live in march?

Yes, they will I think. They process high-risk clients and they don't mind against such terms.

I think they are a 3rd party processor.
The guy on MSN told me that their system takes 10% and hold 10% reserve for 6 months. - I guess by "their system" means their company.

Alertt!!!!!!!!!!!!

Guys I hate to say this, I have an account with Merchantboss.

For the past 3 week, we have no problem receiving payment by MB, 17th Feb, 23 Feb, 1st March. But this week the money was still under pending status after about 3 days of requesting for wire transfer payment. Usually it is done in few hours to become success. We have tried to contact mb, and we never have any reply from them till now, have send email to support management(ticket support), director@merchantboss.com payments@merchantboss.com support@merchantboss.com no reply till now. And also try to live chat in the icq 252439751, asking them on the status of our wire transfer, they appears online, and no reply, then 10 minutes, they are N/A mode, OK then it is fine, we wait for them to come online again, about half an hour later, it is online, just online (meaning there is someone beside computer), we send message to them again, and again no reply, this happen for about 3-4 times. so we decided to give them a call, and guess what, the call goes directly to answering machine, without ringing or attemping to connect to anyone.

We are now suspecting that they are a fraud case, and they are now holding us about USD 8,000 , it is bad for a new business like us and this will hit us badly. We are almost due to pay for our employees salary and some other operating expense. We really hope that this would never happen to us or anyone like yourself. But now it is hapening to us.

Is there anyone know what should we do? or how should we proceed to get our money back? I am suprise the advertising is still carry on in this forum and show quite frequent.

If this is a misunderstanding, and I eventually receives any respond from them to release my money, I will surely post here and aplogize for this, I will certainly hope that I will eventually get this settle and tell you guys about my good news, but now I am just so concern and lost.

From what I understand they are actually a third party processor in the fact they do not give you your own descriptors - meaning you don't get your own merchant account.

Glenn
With a real merchant account this can't happen, the merchant bank deposits straight into your bank account, nobody has access to it unless you give it to them.

Glenn
With a real merchant account this can't happen, the merchant bank deposits straight into your bank account, nobody has access to it unless you give it to them.


This dont apply for every merchant account provider !!

For a true merchant account, it is correct that the funds are deposited from the acquiring bank directly to the merchant's local bank.

Credit card transactions are settled & cleared through the respective Visa and MasterCard Interchange networks and funded to the various merchant's banks via an daily ACH file that is generated on the settlement network side.

It is possible, of course, for a merchant provider to hold back funds if a merchant processes outside of their accepted parameters but there are well defined timetables as to how long this can be and any held funds reside at the acquiring bank... not at the ISO/MSP.

With a 3rd party processor - the situation is completely different. Funds are deposited to the 3PP by their respective merchant processor's bank and then it is up to them to disburse the appropriate funds to their customers.

For a true merchant account, it is correct that the funds are deposited from the acquiring bank directly to the merchant's local bank.

Welcome to the US again...you should explain for which countries this apply..it is very misleading like much on the board here, when you just generalize things that fit to you business case to be the case for every one...

Some merchant provider are alowed ALSO WITH A REAL MERCHANT ACCOUNT to receive the funds and send them to the merchant....thats because the bank don want to have the hassle to make the transfer for each merchant...ther are more reasons but this are some of them.

Absolutely agree with trinitron.

You can place merchant on processing with direct account but settlements will be done to you firstly from bank, and then you will send them to merchants.

It works well in Europe and companies who work so are called PSP (Payment Service Provider).

Dear Fellow WHTER,

I have received my money from Merchantboss few days ago. I apologize for my last post to Merchantboss, this is obviously a misunderstanding. We are very happy with their promptness and sincerity in getting this matter solved so soon, at least much sooner than expected.

During that time when we post our last message, Their merchantbank have been audited by mastercard. During this audit there revealed the violation of credit card processing regulations, concerning bank' processing in general. Therefore the payment has been temporary held by their bank. They also respond to me later informing us that they are going to get payment from their bank to us as soon as possible. After about a week later, they have update us that their bank will only release the money to them and then to us after a 180 days to cover all possible chargeback. But they have decided to pay us by using their own reserves for account with with not exceeded chargeback ratio of 1%. They have also partner with new bank to add in additional processing gateway to have more flexible payments timetable using different gateways,and to decrease declines percentage

Well, this shows that they are very good and serious processor, which is doing its best to get problem solve as soon as possible even using their own money. We have receives our money last week by wire transfer. And the payment for this week will be processed and pay to us as usual. Frankly, we never expect that they will use their own reserves to make payment to its client. This is far beyond our expectation for them to use their own money to pay us first.

Also, I will recommend everyone that I know in e-commerce business about MerchantBoss, and I will also be in this forum to help out some simple question with anyone that would like to get some simple information about Merchantboss right here as far as I could, if you would like to have more details about Merchantboss, please contact them directly, and their customer service agent will get back to you very soon in more detail.

Thank you and all the best to all WHTER.

Originally posted by GlennWatson
Dear Fellow WHTER,

I have received my money from Merchantboss few days ago. I apologize for my last post to Merchantboss, this is obviously a misunderstanding. We are very happy with their promptness and sincerity in getting this matter solved so soon, at least much sooner than expected.

During that time when we post our last message, Their merchantbank have been audited by mastercard. During this audit there revealed the violation of credit card processing regulations, concerning bank' processing in general. Therefore the payment has been temporary held by their bank. They also respond to me later informing us that they are going to get payment from their bank to us as soon as possible. After about a week later, they have update us that their bank will only release the money to them and then to us after a 180 days to cover all possible chargeback. But they have decided to pay us by using their own reserves for account with with not exceeded chargeback ratio of 1%. They have also partner with new bank to add in additional processing gateway to have more flexible payments timetable using different gateways,and to decrease declines percentage

Well, this shows that they are very good and serious processor, which is doing its best to get problem solve as soon as possible even using their own money. We have receives our money last week by wire transfer. And the payment for this week will be processed and pay to us as usual. Frankly, we never expect that they will use their own reserves to make payment to its client. This is far beyond our expectation for them to use their own money to pay us first.

Also, I will recommend everyone that I know in e-commerce business about MerchantBoss, and I will also be in this forum to help out some simple question with anyone that would like to get some simple information about Merchantboss right here as far as I could, if you would like to have more details about Merchantboss, please contact them directly, and their customer service agent will get back to you very soon in more detail.

Thank you and all the best to all WHTER.

It is very funny that you realy need to post the same in two different posts.

However, please read my comment to this in this thread.

http://www.webhostingtalk.com/showthread.php?s=&threadid=382679&perpage=15&pagenumber=2

Actually this is needed. As if any kind of hostile to MB companies would like to find any "bad" info on them, they`ll look at forums, and would find both this and that second post...And shurely they will give the link to any clients or whatever to the post, where the info is not final ( and there`s no info about completed payouts) it`s simple =)