[brokerCompany]

exclusivity periods are fair. YOU are not holding a merchant hostage, they have the option to go to a different funder or different broker to get money.
Makes things real shady when the funder opens your deal to anyone.
To many stories and experiences of funders taking your deal away or somehow it got "mixed up" in the process..
I will only work with funders who have exclusivity period.

[J.Celifarco]

exclusivity periods are fair. YOU are not holding a merchant hostage, they have the option to go to a different funder or different broker to get money.
Makes things real shady when the funder opens your deal to anyone.
To many stories and experiences of funders taking your deal away or somehow it got "mixed up" in the process..
I will only work with funders who have exclusivity period.

I have to disagree here, I hate when I submit a deal to a bank and they say already received y someone else and cant work it. I will take my chances competing with another iso on a fair playing field where we are both working with the same buy rates.. The better closer wins.

I don't understand why everyone thinks the banks are the ones doing shady stuff in these open competition situations. They have so much business coming in that I have a hard time believing they would ruin their reputation to take a deal from one iso to give to another. If you believe a bank you a re working with would do this then the problem is not their competition policy the problem is the fact that you don't trust the bank.. If you don't trust a bank don't work with them because of that not because of the competition on a deal

[brokerCompany]

It has happened where YS has said they already have the file in house. Fine I take the deal elsewhere beat their rates and get it funded.
You are on the same playing field. If another ISO has your deal take it to a funder that beats their rates don't take it to the same funder! Guy with better sources and closing skill wins.
And yes a funder will screw a little broker out of a deal. So yeah I don't work with them, there is enough new isos to take their business
Standard practice for many funders in this space.

I have to disagree here, I hate when I submit a deal to a bank and they say already received y someone else and cant work it. I will take my chances competing with another iso on a fair playing field where we are both working with the same buy rates.. The better closer wins.

I don't understand why everyone thinks the banks are the ones doing shady stuff in these open competition situations. They have so much business coming in that I have a hard time believing they would ruin their reputation to take a deal from one iso to give to another. If you believe a bank you a re working with would do this then the problem is not their competition policy the problem is the fact that you don't trust the bank.. If you don't trust a bank don't work with them because of that not because of the competition on a deal

[J.Celifarco]

It has happened where YS has said they already have the file in house. Fine I take the deal elsewhere beat their rates and get it funded.
You are on the same playing field. If another ISO has your deal take it to a funder that beats their rates don't take it to the same funder! Guy with better sources and closing skill wins.
And yes a funder will screw a little broker out of a deal. So yeah I don't work with them, there is enough new isos to take their business
Standard practice for many funders in this space.

I dont think there is a standard practice I think all banks differ. Personally, I like 1st contract in, I will put my closing skills up against anyone and be confident that I can get it done. If I dont then I dont deserve the deal.
I will also disagree that banks will take deals from smaller ISO's. If a bank will do that then they have no business in this space and nobody should submit to them. I am not saying it doesn't happen, what I am saying is if it does happen then let everyone know it happened and stop working with them. Having spent enough time on this forum and listening to different people say that "ABC" bank stole my deal, what usually happens is once all the facts come out more often then not they did not steal the deal. If banks are stealing deals and you have proof let everyone know and you will see these bad banks go away because nobody will submit to them. I think what happens more often then not is a bank has a 1st contract in policy, an ISO loses the deal to another ISO, and they scream foul because they cant imagine that they lost a deal. Every time you lose a deal its not the banks fault sometimes you just lose. Sometimes you lose I know it has happened to me, when it happens dont complain about the banks policy, get angry and make sure you dont lose the next one

[FUNd]

they have the option to go to a different funder or different broker to get money.

When they end up at YSC, this statement does not always hold true.

[AndyYSCISOdept]

When they end up at YSC, this statement does not always hold true.

Strongly disagree, they always have the option, doesn't mean they'll get apprvoved LOL

[brokerCompany]

YSC is not the end all for low grade paper. Just had you guys approve a merchant for 10k another of my funders got him funded for 50k.
Don't hold your merchant hostage thinking ys is the only option LOL

Strongly disagree, they always have the option, doesn't mean they'll get apprvoved LOL