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  1. #1

    Exclamation Just saw VitalCap fund a merchant via ONLINE BANKING TRANSFER

    Couldn't figure out why VitalCap started debiting without a wire until I saw a large Online Banking Transfer 2 days prior from EMERALD GROUP HOLDINGS, LLC.

    I ran a NY COURTS search and sure enough, EMERALD GROUP HOLDINGS, LLC is an MCA company (aka VitalCap) (found lots of COJ's).

    Pretty strange as I've never seen any company fund a merchant with a simple Online Banking Transfer...

  2. #2
    Senior Member Reputation points: 216519
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    Quikstone and TMR only send out ACH. I'm sure that there are more.

  3. #3
    Veteran Reputation points: 134971 Chambo's Avatar
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    Why does the way they choose to fund and/or collect from a merchant bother you? Are you funding these merchants?

    They probably send it that way because it is cheaper than you standard fare. Not everyone can get free ACH transfers from their bank

  4. #4
    Quote Originally Posted by Chambo View Post
    Why does the way they choose to fund and/or collect from a merchant bother you? Are you funding these merchants?

    They probably send it that way because it is cheaper than you standard fare. Not everyone can get free ACH transfers from their bank
    Just seems sketchy. Plus, part of funding is making sure you "leave your mark" on the file, and that's most notably done with a wire transfer.

  5. #5
    Senior Member Reputation points: 6544
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    Quote Originally Posted by TheUnderwritingProdigy View Post
    Just seems sketchy. Plus, part of funding is making sure you "leave your mark" on the file, and that's most notably done with a wire transfer.
    Hello Sir!

    We only fund a merchant via “ Simple Online Banking Transfer “ if that merchant uses the same bank as us, other than that we send wires. Nothing sketch here.

    Reach out and I'll get you an ISO agreement and run through our guidelines with you.

    Thanks
    Jeff Pecori
    Business Development & ISO Relations

    VitalCap Fund | 48 Wall St. | New York, NY 10005
    P. 850.630.7509 Ext.101 | F. 646.219.7949
    jeff@vitalcapfund.com

  6. #6
    Quote Originally Posted by TheUnderwritingProdigy View Post
    Just seems sketchy. Plus, part of funding is making sure you "leave your mark" on the file, and that's most notably done with a wire transfer.
    You should probably go back to underwriting school.

  7. #7
    Quote Originally Posted by Moshe73 View Post
    You should probably go back to underwriting school.
    LMAO yeah go back to UW school AND ur clearly not a prodigy

  8. #8
    Member Reputation points: 2462 Max Upsell's Avatar
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    Quote Originally Posted by TheUnderwritingProdigy View Post
    Just seems sketchy. Plus, part of funding is making sure you "leave your mark" on the file, and that's most notably done with a wire transfer.
    ce8.png
    If you know you know

  9. #9
    Veteran Reputation points: 134971 Chambo's Avatar
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    Quote Originally Posted by TheUnderwritingProdigy View Post
    Couldn't figure out why VitalCap started debiting without a wire until I saw a large Online Banking Transfer 2 days prior from EMERALD GROUP HOLDINGS, LLC.

    I ran a NY COURTS search and sure enough, EMERALD GROUP HOLDINGS, LLC is an MCA company (aka VitalCap) (found lots of COJ's).

    Pretty strange as I've never seen any company fund a merchant with a simple Online Banking Transfer...
    I've never had any issues with Vital/Emerald/Greenpoint (whatever) & how they fund deals. Always been a pleasurable experience (when Elizabeth finally approves my deal!)

    What I take from this is, you were looking to stack....so you now have choices. Stack the deal as you see fit, or walk away. Don't be mad because they got in there before you did

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