Results 26 to 50 of 53
-
04-26-2016, 10:20 AM #26
actually, there is no problem with this - why would you pull more payments past the 25th? who are you to pull more payments than you told your merchants you would in your own contract? you need to see if they clear and if they dont then proceed accordingly. pulling extra payments then returning it is floating the merchant's money.
i think 5 days is a little exaggerated too.. especially for bigger companies doing millions and billions of transactions a year you would think they would have a solid ach processor - smaller companies like mine do a fraction of that and after 12pm every day i only have 2 pending payments from previous days, and the one due to pull tomorrow - no matter on what bank the merchant has.
and as far as a weekend is concerned, friday's payment clears by 12pm wednesday the following week.Last edited by ADiamond; 04-26-2016 at 10:22 AM.
Anthony Diamond
Underwriter
-
04-26-2016, 10:23 AM #27
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
Was using 5 days as the high end. My point is that the delay causes issues that's all. In an ideal world you could stop 3-5 days before which does happen a lot.
-
04-26-2016, 10:24 AM #28
- Join Date
- Oct 2013
- Location
- New York, NY
- Posts
- 1,203
Diamond, do you know what payment processors that have the least amount of delay?
-
04-26-2016, 10:33 AM #29
to be honest with you I don't know specifically.. i recommended ours to another guy a few weeks ago and they told him they are currently not signing on any more MCA companies (supposedly a temporary hold and I don't know the reasoning) but if you would like I will follow up with them to see if this is still the case and refer you.
Anthony Diamond
Underwriter
-
04-26-2016, 10:34 AM #30
The delay isn't the merchant's fault (or problem), the issues it causes is the nature of the business
-
04-26-2016, 10:38 AM #31
- Join Date
- Jul 2014
- Posts
- 1,746
-
04-26-2016, 10:51 AM #32
-
04-26-2016, 11:19 AM #33
- Join Date
- Dec 2013
- Posts
- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
04-26-2016, 11:21 AM #34
- Join Date
- Jul 2014
- Posts
- 1,746
-
04-26-2016, 11:30 AM #35
- Join Date
- Dec 2013
- Posts
- 4,713
I am sure with car payments and reoccurring payment industry these things happen BUT its never the MODEL to over-collect. The real scamming is the tens of millions being generated by credit score re sellers that charge $9 bucks from consumers and then in fine print they have the rights to keep collecting for ever until you stop and wait on hold all that are done to innocent consumers and every watch dog group is aware and the games go on.
Last edited by mcaguru; 04-26-2016 at 11:32 AM.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
04-26-2016, 11:36 AM #36
- Join Date
- Jul 2014
- Posts
- 1,746
-
04-26-2016, 11:54 AM #37
- Join Date
- Dec 2013
- Posts
- 4,713
Last edited by mcaguru; 04-26-2016 at 11:57 AM.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
04-26-2016, 11:56 AM #38
- Join Date
- Jul 2014
- Posts
- 1,746
-
04-26-2016, 12:27 PM #39
- Join Date
- Jul 2015
- Posts
- 1,202
-
04-26-2016, 12:41 PM #40
- Join Date
- Dec 2013
- Posts
- 4,713
We all focusing on the same issues. Seems like everyone forgets we dart several 100K wires a day across the country with no site inspection or landlord verification and then pay a Double Digit Commission (so we are out of pocket another HUGH CHUNK) before the merchants releases his 1st payment. people are pretending like we are sitting on buildings that mortgage was paid off in 1973 and allo we doing is collecting free cash flow.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
04-26-2016, 12:56 PM #41
huh? Marcus, what's your point? what does any of that nonsense have to do with over collections?
-
04-26-2016, 12:58 PM #42
- Join Date
- Jul 2014
- Posts
- 1,746
-
04-26-2016, 01:11 PM #43
- Join Date
- Dec 2013
- Posts
- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
04-26-2016, 01:14 PM #44
- Join Date
- Dec 2013
- Posts
- 4,713
My point is when you will get privileged to see the merchant bounce reports your song may change from only knocking Funders practices. Like i see the country different then the pessimists!! In fact what keeps me up at night is regulation that will force us to take Used Auto Sales off the DO NOT FUND LIST
Last edited by mcaguru; 04-26-2016 at 01:18 PM.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
04-26-2016, 01:24 PM #45
-
04-26-2016, 01:42 PM #46
- Join Date
- Dec 2013
- Posts
- 4,713
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
04-26-2016, 01:45 PM #47
- Join Date
- Jul 2015
- Posts
- 1,202
-
04-26-2016, 01:49 PM #48
REALLY? I know a a few and of all the words I would use to describe them SIMPLE is not one of them. If that is the word you use to describe them, then I doubt they are leaders.
John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
-
04-26-2016, 02:17 PM #49
- Join Date
- Dec 2013
- Posts
- 4,713
Last edited by mcaguru; 04-26-2016 at 02:30 PM.
Marcus Clapman | Business Development | Cresthill Capital
(High Commissions Payout Group)
覧覧覧覧覧覧覧覧覧覧覧覧覧
Tel: 917-521-6528 | Fax: 212.671.1473
Email: bizdev@cresthillcapital.com
http://www.cresthillcapital.com
-
04-26-2016, 02:19 PM #50John Celifarco
Managing Partner
Horizon Funding Group
3423 Ave S
Brooklyn, NY 11234
T: (347) 773-3990 | F: (718) 795-1990
Linkedin: Profile
Email: john@horizonfundinggroup.com
Similar Threads
-
Second mortgage payment
By Joel R. Miller in forum Financial ServicesReplies: 2Last Post: 03-10-2016, 01:42 AM -
CBD Payment Processing
By AVP Solutions in forum Payment ProcessingReplies: 0Last Post: 06-26-2015, 11:12 AM -
Need down payment!!!!
By kjax in forum All Other LendingReplies: 11Last Post: 03-26-2015, 07:33 AM -
Monthly Payment
By johnnycash in forum Deal BinReplies: 3Last Post: 01-22-2015, 09:16 PM -
Fixed Lockbox Payment
By Scott Williams in forum Merchant Cash AdvanceReplies: 12Last Post: 12-06-2012, 02:40 PM