Results 1 to 22 of 22
Threaded View
-
03-20-2024, 06:26 PM #1
- Join Date
- Feb 2024
- Location
- NY
- Posts
- 77
Referred Bank LOCs w/PSF, Is this a shady practice or completely legit?
I called an ISO shop today about becoming an independent referral partner they constantly post traditional this, that and everything on fb. They have a lot of great google reviews regarding their traditional "banking" services and also do a lot of MCA they say. Anyway, I asked about the bank line of credit and was told they have friends in banking positions they refer qualified merchants to letting them keep whatever fees they make originating the lines through bank for themselves while the ISO is charging another 10% of total line off the line itself when funded by way of ACH/PSF. Is this legit? Might be idk. Is it legit as well to be charging PSFs for regulated bank related products without a license etc? It was out of the box to me just trying to see if legitimate in general.
Similar Threads
-
Ok to the highest bidder UCC leads the day of completely fresh nobody but you
By Robert Licul in forum PromotionsReplies: 0Last Post: 11-12-2022, 10:20 PM -
Prosperum = Completely Full of Sh*t
By ryan $ in forum Merchant Cash AdvanceReplies: 101Last Post: 01-26-2018, 12:07 PM -
Shady or not?
By Advance Smart in forum Merchant Cash AdvanceReplies: 23Last Post: 01-19-2018, 07:13 PM -
completely confused
By J.Celifarco in forum Merchant Cash AdvanceReplies: 15Last Post: 09-29-2014, 11:40 PM -
I've Completely Lost It!
By JayBallentine in forum PromotionsReplies: 0Last Post: 12-18-2013, 01:31 PM