Hi,

I just had a meeting with Ken Musante - The President of HBMS. He assured me it is business as usual. I will be releasing a newsletter to all of our merchants today.

Processing, settlements and deposits are going through as normal.

Thank you

Never heard about them before...

business as usual or not its still uneasy when changes like this go down!..

Same thing happened to First National Bank of Arizona

http://www.azcentral.com/news/articl...ional0726.html

any merchant account holders reading this thread have a cb reserve?

just curious.


i know i don't.

I do 75k :(

This could get damn nasty.

Humboldt Merchant Services
 

I know everyone is panicing....

I can not express enough "BUSINESS is as USUAL"

Please feel free to contact me directly or email me at
[email protected] or [email protected]

Your merchant account will not be affected. Your reserves are fine, your processing is fine and your deposits will remain fine.

Later today there will be there will be a press release posted on our site.

Once again your merchant account is not affected.

Denise Cassatt
VP/Director of High Risk Sales
Humboldt Merchant Services

Thanks Denise for the post. :)

Mark

Mutual of Omaha is not known for carrying a high risk portfolio. If I were a Humboldt customer, I would make a move ASAP.

I spoke with Denise and she asked me to post her website address, http://www.hbms.com. I know she can't because of her post count.

Thanks,
Mark

Good of you to post and reassure people but you can't speak for Mutual of Omaha

i don't have a merchant account with you but know a few friends that do and they are worried - rightfully so.

Humboldt took on alot of card services people.... I know people who didn't have high risk card services accounts... and humboldt just grandfathered them in.. when the take over happened... I wonder if taking on all those small companies that were operating against the TOS at card services.. could play a factor in this?

I'm not really worried. HB randomly runs 1 in 6 of my sales...
and I doubt that Omaha is going to want to give up the adult revenue...they'd be stupid to.

It is scary.. but I say trust Mitch and Denise...

From what I understand from what I read from Denise. Humboldt is owned by 1st National Bank of Nevada but as a separate division. Denise said they were already in the process of being acquired by another company and everything will stay the same.

Mark

thx for that eh, i wasn't aware the deposits were still being required for merch accts.

You have to understand this industry's uneasyness when they hear "Things are fine. Things are working as usual." as every company who has gone out of business in this industry has said that as the ship went down.

However, Mitch and Denise are two of the people in this industry who I would trust my business with. They're not the type to bullshit you and I would take what they say as truth.

edit: uneasiness :)

I hope everything works out :)

It is uneasy. HBMS has been slid for over 10 years and I think they will continue to be.

Mutual of omaha just purchased the deposits. They are not the sponsoring bank. Mutual of omaha did not purchase Humboldt Merchant Services.

Thank you John. Anyone concerned is welcome to contact me. We are confident HBMS will be fine but do have alternative solutions in place.

I have no doubt that Humboldt will remain strong and continue great service.

Denise has been providing up to date details and is always on the know... if any jettis clients have questions or concerns.... please feel free to contact us.

Have a great weekend!

This is what is posted on our website:

Letter from Ken Musante President of Humboldt Merchant Services

To our loyal customers and trusted business partners,

As you may be aware, Mutual of Omaha Bank purchased approximately $200 million of assets from the receivership of our former parent, First National Bank of Nevada. As President of Humboldt Merchant Services LP, I am writing this letter to pledge our continued commitment to our customers and business partners.

I would like to take this opportunity to assure you that our daily ongoing operations and management remain in tact. The Federal Deposit Insurance Corporation (FDIC) assumed majority interest in Humboldt Merchant Services to ensure our ongoing operations and continued growth.

This means that our customers will continue to receive uninterrupted payment processing. Additionally, processing of funds have not and will not be impacted. Settlement and customer support will continue to operate as normal with no disruption in daily activities.

We continue to be a thriving processor with the unique skills to appropriately manage and service all our clients with exceptional service.

If you have any concerns or questions, please call me at (707) 269-3207. I personally want to say ?Thank You? for your trust and continued business.

Warm regards,

Ken Musante, President
Humboldt Merchant Services, LP

Thanks Mitch, Denise, Kjell and the entire Netbilling and Humboldt team. I am impressed with the contact I have had with all these guys on a Saturday explaining everything. This is why Netbilling and Humboldt rock. :D

Mark

Thanks John!

Thanks again Mark!

As for all the rest of my merchants please feel free to contact me with any concerns that you have. I am happy to answer any questions that you have.

Who is the new sponsoring bank? To acquire high risk any bank must meet certain requirements with respect to capitalization.

How much would it cost to buy Humboldt?

Thank you Mark

While I do fully believe that Mitch and Denise are being honest and up front about HB`s position, I still can`t help but be nervous. Reminded of far too frequently recurring bad memories in billing.

Thanks to everyone who shared information freely on a weekend.

I agree and thank you Jact.

If anyone is concerned and is interested in looking into other banks please feel free to hit me up to see what I can do for you.

118156620-icq forest AT silverclouddesign.com

I have several banks who would love to compete for your business

I'm surprised that so many program owners were surprised by this news.
I'm also surprised at how nervous they are.
It shows a complete lack of awareness about the business you're in.:2 cents:

Figure that one out for yourself guys :1orglaugh

Well said, Mark,

I was very impressed at how Mitch and Denise handled this situation and keep the news flowing over the weekend. That is classy customer service at it's best - thank you Denise and Mitch

THANK YOU HARLAN! for the continued support...

I can not stress enough that we will continue to process for ALL of our merchants.

You are welcome Harlan. You should have received a NETbilling news email as well last night.

this couldnt be related to the increasing abundance of hidden prechecked crosses stacked 3 deep on so many join forms?

Not related at all.

We have been with Humboldt for a long time and with Netbilling too. Mitch has assured us of his confience that HBMS is solid and will not be going anywhere so we are keeping everything processing as is for now.

Z