We had an account with PaySat for a couple of months until it because clear that their whole operation is very suspect. We have not received any payment from PaySat. Typical excueses:
"Your bank SWIFT code is wrong"
"We sent payment yesterday"
"Can you send us more information..."
I have spoken to a few other merchants who are in the same position and have received the same excuses.
I would be interested to hear form any other merchants who have payments outstanding (ie. captured payments more than 6 weeks old). I would really love to hear from anyone who has ever been paid by PaySat.
If enough merchants are prepared to take action something can be done. But lets take some action and not just bitch about it in this forum. I have a few things in mind.
One thing I would suggest is that you write off any money owed by PaySat because the chances of getting anything are about 1 in a million. But there are several things we can do to hit PaySat where it hurts. ie. You won't get your money but lets make sure that PaySat don't run off with your money.