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Fund Recovery from blocked high risk merchant account

#2
Why aren't they settling?

They don't seem to be a licensed financial institution, which means they shouldn't be sitting on your money at all. You should be getting the settlements from the acquirer. If they are the ones receiving settlement, you are dealing with some very dodgy people operating outside the boundaries of the laws and regulations.

If you are unable to reach an amicable solution with them, your options are probably limited to litigation in UK and possibly India. Sometimes, well-crafted threats of litigation are enough to make someone soften their stance. You can try approaching the FCA but it's unlikely they'll take action.

If you can find out who the actual processor is behind the scenes, you can try to contact them but they most likely won't listen since they have no idea who you are and have no relationship with you.

It's not an easy spot to be in. Hope it works out.
 
#3
Ladislav Smicek said:
Hello, I have a substantial sum blocked by what appears to be a scam credit card processor Best High Risk Merchant Account Services - iPayTotal , any one has any idea for recovering funds? the UK office is virtual but agreement I have is with the UK entity while they appear to be run from india
Click to expand...

This is a nothing company you dealt with. A startup formed in 2018 with £1 by some guy living under a tree in India. Basically a webpage with no history of operation. You know sometimes........no I wont say it and will be kind.

https://beta.companieshouse.gov.uk/company/11357725/officers
They have a new director who looks like Barry White appointed last month (the above companies house records show). So get in touch with the guy and ask if he can help.

https://rocketreach.co/jeremiah-rueben-jordan-email_17793720
 
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#6
Is forming a UK company for £12 with £1 in capital and then creating a simple webpage advertising acceptance of high risk card processing all it takes to have people give you a "substantial sum"? Is it really that easy.

I am in the wrong business I tell you :rolleyes:. These guys in India are very clever especially when they know high risk activity clients are not gonna go to police...lol.

Hope you get your money back finger crossed. Let us know what the Barry White accountant guy says also thu&¤#
 
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#8
OP mind to share what happened?
 
#10
#11
Sometimes we all have to learn a painful lesson and not get caught up :confused:. I have many times and that is why I spare no mercy in my criticism of scam or sham companies whether it is a bank, emi, crypto company or card processor hype

 
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#12
#14
#15
Interesting......some comments on the below.

jasonsmith12 said:
Media Force LTD /GSI Markets – iPayTotal Ltd
Click to expand...

Ipaytotal really thought it was a good idea to accept a Marshall Islands Forex broker in the first place? Secondly the UK FCA warning about them was published on 17/07/2017 with the domain they use clearly shown. However ipaytotal engaged with them in business up until recently? Now I don't mean to be rude but ipaytotal has to be run by complete imbeciles or they had knowledge of the bad rep of gsimarkets and they where in on it all along. Either way ipaytotal is at fault for onboarding them.

Creating a website ipaytotalsreview.com - registered only 3 days ago i.e 2019-08-18 to cover their asses will not work. It has in fact raised more questions. Questions about why they did business with them recently when UK FCA website issued warning in 2017...lol.
 
#16
It is going a bit too much into drama, and have eaten too much pop corn already.
High-risk merchants are mostly non legit with their activity or way to look at business. High-risk PSP same.
but @jasonsmith12 I don't succeed to understand of behalf of who are you speaking?
 
#19
They are the biggest scammers in industry. They keep up the operation until the last idiot has recognized them to be one big SCAM. So far it seems lot's of idiots are left to give them their money.
 
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