To whom it may concern,

I've had an awful experience with a merchant account company called
Paysystems (http://www.paysystems.com). Everything from the
(unmentioned) holdback charge where they hold about 6% of your sales
for 6 months to the 11 weeks of having my money and not paying me.
Plus, their customer service is terrible. Every time I call, I have
to go over my entire issue with them. It's like they don't keep
anything in the computer.

Their customer service system has big trouble with letting you talk to
a supervisor. Plus, they don't generally allow you to speak to the
Settlements department. I spoke to them once, but it was a miracle.

Paysystem's settlements ONLY go on Thursdays. If there is a problem
with something, they don't care and they won't make a settlement on a
different day. You'll have to wait a week.

Right now, they are holding a lot of my money. Their system wouldn't
work with my business savings account. Someone should have been able
to diagnose this problem far sooner than they did. I called my bank
and Paysystems many times and nothing worked; each time, I waited a
week in between attempted settlements, of course.

They were finally able to make a single settlement into a different
bank account. However, the customer service agent promised me that I
could email him Friday with the results of the attempted settlement
and he would immediately make ALL of the other settlements that
bounced back. Well, he was nowhere to be found last Friday. Now,
it's Tuesday and I still haven't heard a word from him.

In short, Paysystems deserves two big thumbs down. They would NEVER
be able to conduct business like this in America and get away with it.
Things are obviously MUCH looser in Canada. If you need a merchant
account, then look elsewhere.

Sincerely,
Jason

They say, right up front, they hold back a reserve. Also, why should
Paysystems have to make an exception to their Thursday deposit day...just
because you have an emergency and need money today? Based on those two
inaccurate complaints, its hard to take the rest of your post seriously.

Paysystems worked wonderfully for us, for the 7 months we used them (we
actually use a real merchant account provider now) and I never had a problem
with their tech support people. They processed six figure amounts for
us...without a single problem.

--Tina
--
http://www.AffordableHOST.com
20% Discount Code: newsgroup
We transfer time from your current host!
Serving the web since 1997


"Dr. Jason Gastrich" <news@jcsm.org> wrote in message
news:cc651a96.0401200340.17d19c62@posting.google.c om...

On 20 Jan 2004 03:40:18 -0800, news@jcsm.org (Dr. Jason Gastrich)
wrote:

If you are running a business, you understand payment structures and
settlement dates. It is very typical in the business world to work on
a payment schedule of "net 15" with some clients/customers wanting
"net 30"

"net 7" with a rolling 6% researve is very good.

First if holding 6% is a lot of money, then you must be working in a
high cashflow business. This movement of cash doesn't allow for
people to sit on an issue for the time periods you mentioned. You
have dropped the ball. You should have been looking for other methods
of completing your transactions, and if you get a merchant account
setup with a gateway you should be saving a lot of money compared to
using "combo systems" like paysystems.com.


Jason,

You need to be proactive, when things piss you off, move on. You can
get mad and have valid grips(although the rolling researve and
thursday settlements complaints aren't), but you need to think of the
big picture. Keep your business running, rather than trying to fix
theirs. Goto 2Checkout.com and pay the setup fee, and you can be on
your way to having redundent payment systems when one fails. Plus, if
you are moving hugh amounts of money, a gate way and seperate merchant
account can save you a few points over time that's a lot of money.

Good luck in your all your adventures,

tom


***************** Our Sites *****************
http://www.CarFleaMarket.com
http://www.VirtualLotteryPool.com
http://www.FreelancingProjects.com
http://www.LinkSkyRise.com
http://www.Intertainia.com
http://www.VoyeurJunction.com - Adults Only!
http://www.FindMeShelter.com (coming soon)
************************************************** *

This is a follow-up message to my last message about Paysystems.
Since I wrote about their poor service and how they did not pay me, I
thought it would be appropriate to write about some recent good news.

Paysystems eventually made all of the payments to my bank account.
Apparently, they cannot do money transfers into savings accounts; only
checking accounts. Even though nobody ever mentioned this until I
gave them my checking account, their payments did reach my checking
account.

Today, I give Paysystems a tenative endorsement. This is why:

1) They waived the initial $50 setup fee because my organization is a
501(c)(3), non-profit organization.

2) They had one or two people there that were helpful (e.g. Melissa
Sutherland, although she forgot about a telephone appointment we had
and Kenneth Obregon who did his best to fix everything to my
satisfaction).

3) The Better Business Bureau reveals that they have had only 4 formal
complaints filed in the last 3 years. See here:
http://www.bosbbb.org/reports/reliab...mId=0000090986

4) They do post their address and contact numbers on their web site.

5) They only charge a 6% fee on each transaction.

Since Paysystems redeemed themselves by making these settlements to my
account, I wanted to post this message and let everyone know.

Sincerely,
Jason Gastrich

The Better Business Bureau reveals that they have had only 4 formal
complaints filed in the last 3 years. See here:
http://www.bosbbb.org/reports/reliab...mId=0000090986

.. . . I should mention that all of these complaints were resolved and
they were awarded the BBB's "satisfactory" status (which is their
highest approval).

JG

On 29 Jan 2004 19:47:50 -0800, news@jcsm.org (Dr. Jason Gastrich)
wrote:

Glad to hear things worked out. Congrats on both being proactive, and
humble enough to post your followups.

thanks,

tom

***************** Our Sites *****************
http://www.CarFleaMarket.com
http://www.VirtualLotteryPool.com
http://www.FreelancingProjects.com
http://www.LinkSkyRise.com
http://www.Intertainia.com
http://www.VoyeurJunction.com - Adults Only!
http://www.FindMeShelter.com (coming soon)
************************************************** *

"Dr. Jason Gastrich" wrote:
If there is an equivalent to the small claims court here in the US,
use that as the expense is very low ($25-$50 to file).
Also, (here in the US) it is illegal to have a lawyer represent a
"person" (ie you or the company).
And if they do not show, you automatically win.

Gather all of the evidence: logs of all calls (date, time, who talked
to, what was said, and results both positive and negative), letters (you
should write them and require satisfaction within 10 business days -
maybe sent return receipt), and any other pertinent info.
Get a written statement from your banks concerning all attempts for
transactions.
Have it all in date order with all confirming evidence when you go to
court.
Sue them and ask for punitive damages, along with interest on withheld
funds.