According to their website, they charge 15%. So 15% of €100 a week is about $19 a week, multiply that by 52 weeks a year and that's not even $1000. Take out the actual costs of running that card and add the various labor that is required to run that business, they are probably not making any money on that account. In fact, they are most likely losing money due to the wasted resources.

Is anyone in this thread running their business at a loss? My guess would be no, or at least a hopeful no. Not sure why anyone would expect another company to run their business at a loss. I would move away from doing business with anyone that I know is running at a loss, they could shut down any day and I could lose whatever I have invested with them.

:1orglaugh:thumbsup:thumbsup

Showing a local bank teller your ID seems safe and reasonable. Scanning personal ID and emailing this very personal information to faceless strangers across the globe just doesn't feel right.

If banks talk to banks (and they do), then providing your local company banking details should cover it, as like you said - you already provided ID to set that account up (locally).

It just seems redundant, as you have already provided the details to the most important bank to begin with, to be in business in the first place.

Not the same thing, but kind of like when Visa charges you $750 to "review your sites" for one billing company, but then charges you the same $750 over and over to "review your sites" again and again, for every other processing company.

Shit just seems redundant and unnecessary.

I sent a wire to the Netherlands two months ago. It was a big bank. My bank could not even find that banks existence, even after I provided them with a very large, detailed list of bank information about the Netherlands bank.

You think Bank XYZ in your city gives your details to Bank ABC in another city on the other side of the world? And then on top of that, you think Bank ABC should simply blindly trust Bank XYZ and ignore any laws that they may have to follow in their own country?

Also, if Bank XYZ is the "only important bank", why are you messing with Bank ABC? Why don't you simply have Bank XYZ process for your sites? Oh wait? it's because they won't.

When I wrote the "only important bank" I meant that it was the bank that confirms you are really in business to begin with. It is the bank information that SHOULD provide enough proof and credibility that you and your business actually exists.

Billing companies ask for all sorts of info, which includes your banking info, server info, and more. In a world riddled with identity theft, it would seem that these redundant photo copied ID requirements can only make things LESS safe - especially for business owners.

Its usually either the CFO or the CEOs and have it on file... I'm not sure what the big deal is, as this is nothing new.

Have you guys ever opened a bank account, brokerage account, paxum account? Its the way grown ups do business and have for many years.

That's why they run banks and you don't. One of the two knows things about running banks, and the other is some idiot on gfy who doesn't know what he's talking about and making accusations.

I used to think the porn biz was filled with radicals and tough guys, but instead... just the opposite.

Why?

A few years ago online poker in the United States was more or less shut down. Not completely due to gambling, but due to wire fraud. The poker site owners were in cahoots with banks, in the United States, committing a broad range of acts that amount to wire fraud. In short, the banks were paid off to look the other way when illegal acts were taking place. Again, this was in the United States, not some third world post-Soviet state.

Why on earth should Bank XYZ believe anything Bank ABC says in a completely different country? Do you want your local bank taking a local bank in Russia for its word?

My corporation has been in business with the same bank since 1999. If I decide to go rogue at this point, what is the difference whether or not some shmoe in the Netherlands has a copy of my passport on file or not?

:thumbsup :thumbsup

I know I'm 'the poo guy' but I have to agree with MANY others here...

If you are doing legit biz, then PROVE who you are! I have, many times over. I bought my son a house the other day, for cash...

I virtually had to provide DNA!

Sorry guys, but like it or lump it, this is the REAL WORLD in 2013...

Precisely and its about time we stop complying with bull shit rules not LAWS by middle men and pseudo bankers....we run this industry but the bankers do not want you to realize who has the power.

Wouldn't you think it would be prudent for the collectors and processors of our funds to provide us merchants with their identifications, home address, pass ports,etc home phone numbers.....before they can be allowed the priviledge of collecting our funds for us.

Personally I think the middle men and pseudo bankers are the ones who need to be transparent and not us honest hard working movers and shakers of the adult industry

But there is not enough of us who understand how this works at the highest levels to wake up the other idiots in our industry.

We praise morons and trolls on this board and not the ones who think outside the box and promote sound ideas. Ultimately the middle men and their system of electronic credit is not going to last...

when the dust settles there will still be merchants and customers and how will we transact with them will be up to us not cheeesy rat skillless parasitical middle men leeches who continue to pass excuses while holding monies

Maybe we need to require they do the same. I never know who I am sending info to so maybe they should have to divulge the same info of who will be handling ours. So when it gets sold, we have a place to start..

I deal with international banks everyday. I DO understand how this works at the highest levels, and you are angry at the wrong people. Bankers don't care who the money is going to, or where it's coming from. It's the governments that tell bankers that they must comply with KYC *Know Your Customer* and AML *Anti-Money Laundering* regulations. If the banker does not, the bank is fined heavily at least, or can have it's license pulled, or bank executives can end up going to jail, in the most extreme cases.

Just because you say "I'm so and so, and my company is called X" doesn't mean anything to the government regulators that tell the banks what they must do. There is a list of documentation that the banks must have on file in order to be in compliance with government orders. The banks then pass this down to the processors.

You want to be angry about it? Be angry at your governments, both US and EU, that compel the banks to gather all of this due diligence. Until recently, there were still countries in the world that did NOT force their banks to do this, but the EU and the US governments have created a situation where even the banks in those countries were forced to comply in order to deal with business internationally.

Again people, it's not the banks. It's the governments.




.:2 cents:

Exactamundo. :thumbsup

Thanks jew for breaking it down to the misinformed. All the sheep wanted their government to protect them from 'terror', both real and completely fictitious. This is the end result of wanting the government 'to handle it' for the sheeple.

:disgust

i opened a business bank account for my deleware llc with:

irs ein
certificate of good standing
certified copy of certificate of incorporation

NO PERSONAL ID

Hello psycho cunt. Any new ccbill conspiracies we should be aware of?

are you locate in EU ?

My point was simply that not wanting to hand over your passport to unknown people to be copied by them is not indicative of being a criminal, weirdo or hiding something.

You've already told us you make 1-2 sales a day. Mover and shaker? :1orglaugh

Duplicate post.

Im was talking about for KYC. KYC is for the movement of money. I dont think $100 a week was what they had in mind.

A co-worker I was talking to at work earlier in the day suggested the exact same thing.

Tit for tat.

Yeah, but they can't make the rules for only those that make more than $9000 a week can they?

Then again, I'm sure the people that want around it get around it

Actually I think it is , that's how Eliot Spitzer got popped. he was wiring thousands of dollars to that escort agency. And they became aware thru KYC.

We already supplied attested copy of passort and statement. Whats the issue...

Strange how they think.

A background check to open a merchant account will do nothing for fraud, as we know that law abiding citizens do not commit fraud, only criminals do and they will not submit to it . :winkwink:

verotel
 

All people that went from verotel to ccbill compained about low conversions and they are mostly sorry for doing it.

We have had Verotel as secondary for a long time. It was nothing to write home bout.

Hey, SilentKnight, please drop me a line at spookycash [at] gothicsluts.com

I might misremember, but, as I recall you had some interesting sites. If they can pass either CCBill or Epoch compliance, I might be able to help :)

Perhaps I'm in the minority but as a client of a few of the 3rd party billing companies, verotel included, I'm happy they ask for all this info and actually know their clients. Makes me feel safer processing through them, just seems logical to me :Oh crap

As for charging a fee (that verotel has to pay) if the client doesn't process 100euros a week, I can't really blame them. I wish all billing companies waived the mc fee for those who processes the equivalent of 100 euros a week or more.

That said props to Segpay for getting into MC compliance way in advance and saving ALL clients the fee this year :thumbsup

Email sent.