Email from Ibill - FYI

[Trev]

We've been getting a similar email on a fortnightly basis from ibill:

Dear iBill EU Client,

Earlier this year you received information via e-mail reminding you of issues related to our international processor and acquiring bank in regards to reserves and associated payouts. Specifically, the communication referenced your iBill EU contract agreement and stated that should our European processor and acquiring bank choose to withhold reserves for any reason, iBill EU would consequently be required to suspend reserve payouts to clients.


One of the criteria our processor and acquiring bank is using in determining reserve holdbacks of all credit card reserves is chargeback ratios. As a result, the reserves are being held pending the resolution of card association regulatory issues related to cumulative chargeback ratios and any potential fines as a result of those ratios. Accordingly, we will be suspending the reserve portion of your semi-monthly payout scheduled for November 19, 2003.

Please be assured that we are working diligently with our bank to have these funds released as soon as possible. We will follow up with additional information soon. Please feel free to contact us with any questions you have at support@ibill.com or 954.363.4949.

Sincerely,



iBill EU

If I could be bothered to reg with visa through iBill I could get the $302.45 they owe me but I'd rather have my processing else where...