Ok. I've also verified they closed their account. I'm told it's US only accounts and does not effect the EU based accounts.

I heard from their CEO (who by the way is no longer their CEO as of yesterday) that they are closing the company. He's moving on back to mainstream. But he assured me that all payouts and holdbacks would be returned via Inteca.

We are not closing 365Billing.com

Our statement. http://www.gofuckyourself.com/showthread.php?t=721399

Who is BHEbill?

Mitch

inteca is an ibill-based company

haha, the 365 guys have "nothing" to do with ibill, huh?

http://www.gofuckyourself.com/showth...ghlight=Inteca

That's what I got.. :thumbsup

http://static.flickr.com/62/196696371_5bb3550412.jpg

ADG Webmaster

oh shit....

Bad news for their clients, thousands of affiliate and the industry as a whole. I wish the best of luck to all of the sites relying on them for their processing in finding their solution with either CCBill or Epoch.

Brad

whats odd to me is that nobody has asked WHY their account was closed.
Banks do not close accounts willy-nilly, they have a REASON for it.
(remember back to the CE days?)

even though its 'only' the US thats affected, if the account was closed on them it makes one wonder about the business practices that caused the closure ... and how long before it affects the EU banking relationships

---------
on another note .. bhe??? ROFL - M.L. is that you??

Who the hell is M.L.?

or Verotel

:winkwink:

barefootsies .... he'll know who I mean if its him (as I suspect it is)

Vicki - as per our statement on this matter the account was NOT closed by the bank. The account was in excellent standing, and as such monies will continue to be released. Our organization has simply parted ways with the CEO of 365BillingUS, Jeff Foster.

365Billing EU and the Parent Company are strong, stable and continue to grow... if anyone has any questions, do not hesitate to contact your representative or myself directly.

Read our official statement here:

http://www.gofuckyourself.com/showthread.php?t=721399

Ah ok. Must be some code talk. No clue who that, or those initials, stand for.

Maybe I need to get out more.

:Oh crap

Aww <3 Was good getting to hang with you in phx!

good bloody lord
I have been trying to get payment for past several days from these guys
not a damn dime
has anyone been paid recently ?

:Oh crap :Oh crap

comeon barefoot bro
not both of us again....we are still licking wounds inflicted by mister cohen

Well in this case, I am sorry to see you are burned again. I recognized the name. Luckily I have been happy with adding in CCBill as a secondary on my cascade, and Verotel as main on everything except tangibles, and custom orders (over $100).

I did not get burned this time, but I see you, and some of the others I recognize from Howie Nixon era. My sincerest condolences on this my friend.

:(

Ah.. the Howie era :winkwink:

Whatever the reasons and excuses this time, and irrespective of what future 365billing may have or not, and how accurate or otherwise their "press releases" are - the fundamental issue remains that most TPP's do not or will not provide *any* form of security for the funds they hold on behalf of webmasters.

The only two processors I know of who do provide an element of security as part of their biz model are SegPay and Verotel (you chose well!).

It's amazing that *any* processor even exists today where they cannot provide a biz model to secure client funds in the event of their demise - even more surprising are the so-called "big names" who still do not provide this. But again... iBill was a big name at one time, and time seems to be a leveller :)

:winkwink: :winkwink:


:thumbsup :thumbsup :thumbsup

you fuckin rat

i believe the word you are looking for friend is 'vulture', not rat..

good point, and i admit this was an afterthought, but 365 are still processing in the eu, so they are not carrion at this point. rats will nibble at you when you are alive.

didnt two big sponsors make obvious set up plugs for 365 like 4 months ago?
i knew it would go tits shining.
Duke

:Oh crap

has anyone been paid by 365 lately?

wow hope anyone with them has stopped using them already

I haven't gotten paid yet, but Dan at 365 is busting his ass to get me setup with my own merchant account by mid next week. They are working pretty hard to keep me satified. Also - it's my understanding that Jeff their former CEO actually cancelled the US merchant account on his own without corp approval.

Why would he do that? Was he the Guarantor for the account? :helpme

I'm not sure about the details.

say what?? :error

that sounds nuts. why would anyone ditch a money-making operation w/out some external pressure or threat? rebill money already banked, reserves, etc... something doesn't ring true here methinks..

the problem is this. There are 2 major processing companies, and new processors have to pick up the risky business that the 2 major ones are disgarding, the high volume hidden crossells, content/complaince stuff that the big guys wont touch and for a new processors, having a risky portfolio spells doom. They are less experienced, dont have the relationships and reputation

the results seem to speak for themselves

your a nice guy but your jackel posts are a big disappointment

:winkwink: We know all processors organize their biz affairs sooo very well and I've never met one yet who was less than the epitome of sheer entrepreneurial genius and they are all 100&#37; honorable people - to prove it they even bought the drinks.

Sadly Rui, the truth is ya could count the valid folks/companies on less than one hand - the rest is utter verbal diarrhea and trying to cover ass while maintaining a face of relevance, flashing the odd symbol of wealth to prove something, and who will ultimately resort of a constant barrage of lies and deceit to save their asses.

The other even sadder element is that there are sometimes good people working for these operations who get lied to by the corp administrators - and they, of course, are dumped and jobless when the swamplife finally elect to give up the charade of being a "processor".

Sader still is the online industry who tolerate these idiots and sign up without having a clue as to who is handling webmaster funds and without any assurances of security in place for the funds they hold. I'm gonna start Banco de Con on Monday morning - anyone want an account? :pimp

Are you only referring to 3rd party processors here?

Mitch

Sorry you feel that way but I have been doing this for 9 years and have seen many, many many processors come and go. We have been here to help many of the merchants that have been left hanging.

Mitch

Howard Cohen
 

for your new el banco, make sure to hire this man...

Ya may have a good man there! :-)

Hate to say it Barefootsies, but he might be more honest and reliable than some other "processors" around :winkwink:

thats quite true
adult industry is being dealt fatal blows one by one by these processors. Imagine what will happen if the big two bite the dust tomorrow
:Oh crap

yea, i understand the risk shifts, i know of a handful of people that burned through their merchant accounts and had to take some "creative" measures when they went back to epoch/ccbill

how can one respect a business that dances on graves as you constantly do?

Could see a couple of others stepping up if that happened RegUser - but not on the same basis as the "big two" - and offering security of webmaster funds, which sounds a more than reasonable concept :)

Scary

**shudders**

Really? How am I dancing on anyones grave? Just because I offer our services is not dancing. Do you see me jumping up and down or saying whoopie? No. I am always respecful and actually do not like to see if a good copmpany goes down because it weakens our industry as a whole.

Mitch

You shouldn't forget that the big two were once the big three. :winkwink:

Your spamming a thread thats talking about the demise of, at least part, of a competitor. *Most* other processors and gateways show professional courtesy and enough respect to stay out of this thread.

If you dont understand that, for whatever self-serving reason, im done with this subject. I just wanted to point that out, not to argue with you about it.