Results 1 to 19 of 19
-
01-27-2022, 12:35 PM #1
- Join Date
- Oct 2021
- Posts
- 50
Funder Not Paying
Funder not paying saying they need a MTD from the merchant when the deal funded over 2 weeks ago. Merchant changed password for them to access his bank account but is consistently paying and plans to pay full balance early.
-
01-27-2022, 12:37 PM #2
- Join Date
- Feb 2018
- Posts
- 1,349
merchant's let mca's have carte blanche access to their bank account? thats a big no no
-
01-27-2022, 12:40 PM #3
- Join Date
- Oct 2021
- Posts
- 50
-
01-27-2022, 12:43 PM #4
- Join Date
- Dec 2021
- Posts
- 42
-
01-27-2022, 12:50 PM #5
- Join Date
- Oct 2021
- Posts
- 50
-
01-27-2022, 01:09 PM #6
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,959
Merchants should establish 2FA - When and if a bank log-in is requested - the merchant knows what is occurring.
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
-
01-27-2022, 01:13 PM #7
- Join Date
- Feb 2018
- Posts
- 1,349
Don't the banks raise red flags when IP addresses outside the norm try and log in? Scary for anyone to hand over their login data considering they have no idea who gets access to that. Sometimes it may be individuals not even in the country. Not a good practice to force this.
-
01-27-2022, 01:21 PM #8
- Join Date
- Feb 2017
- Posts
- 3,433
-
01-27-2022, 01:44 PM #9
- Join Date
- Jul 2017
- Posts
- 548
-
01-27-2022, 02:12 PM #10
- Join Date
- Jun 2017
- Posts
- 2,049
-
01-27-2022, 02:14 PM #11
- Join Date
- Jun 2017
- Posts
- 2,049
-
01-27-2022, 02:19 PM #12
- Join Date
- Jun 2015
- Posts
- 3,325
-
01-27-2022, 02:30 PM #13
- Join Date
- Oct 2021
- Posts
- 50
Newly funding with them, did not double fund them. The merchant is fed up with asking for stips and relationship with him is already hurt for trying to ask for that. Don't want to name drop the funder as we hope to resolve the issue with them and continue funding, but it is definitely an inconvenience.
-
01-27-2022, 02:38 PM #14
- Join Date
- Jul 2017
- Posts
- 548
-
01-27-2022, 03:06 PM #15
- Join Date
- Dec 2018
- Posts
- 23
Strange..
-
01-27-2022, 03:27 PM #16
- Join Date
- Oct 2021
- Posts
- 20
This is what sol Teitel and his brother Joe Teitel do. Stay far far away from Wynwood Capital
-
01-27-2022, 03:34 PM #17
- Join Date
- Jun 2021
- Posts
- 39
what funder requires the merchant to hand over their banking login direct to lender AFTER funding? lol. they didn't use any of the bank verification links that normal lenders use?
what a ticky tak shop.
-
01-27-2022, 04:03 PM #18
- Join Date
- Nov 2013
- Posts
- 598
Who is the funder pulling this BS so the rest of us know not to work with them?! Also, look at your ISO agreement and what it states. Funders have to follow the spirit and language of the ISO agreement, if it says after 3 cleared payments then ask for a payment report, if its just x days after funding they need to honor it.
Either way delaying in not paying you sounds like a broker shop messing with your commission and please tell me this is all for at least a 5 figure commission. Because if this was for 2-3k look for a new funder.
-
01-27-2022, 04:34 PM #19
- Join Date
- Feb 2018
- Posts
- 1,349
prob a wannabe funder with a few millions bucks to advance and has no clue what they are doing. This is a big wallet game, if you don't have the money to sit at the high stakes table......
Similar Threads
-
Transportation Co. Needs $30K but Not paying more than $225/day
By Fundyman in forum Deal BinReplies: 8Last Post: 10-20-2017, 09:31 AM -
Paying up to 14 points
By PDM Cap in forum PromotionsReplies: 1Last Post: 06-05-2017, 04:35 PM -
Hedge funder or direct funder with guts i have a deal for about $500k
By Pbs in forum Merchant Cash AdvanceReplies: 7Last Post: 09-14-2016, 03:30 PM -
Direct Funder/ Syndicated Funder will work hard for deals!
By BoostAaron in forum PromotionsReplies: 0Last Post: 03-03-2016, 09:39 AM -
wanted : Funder , Direct real Funder -
By c4get in forum Deal BinReplies: 5Last Post: 06-20-2015, 12:16 PM