Quote from: paycum on February 09, 2015, 03:43:00 AM

Quote from: Josef_Stylin on February 09, 2015, 03:34:33 AM

Quote from: paycum on February 09, 2015, 03:27:44 AM

Quote from: Josef_Stylin on February 09, 2015, 03:10:41 AM

Quote from: paycum on February 09, 2015, 02:12:56 AM

Quote from: Josef_Stylin on February 09, 2015, 01:35:22 AM

interesting... opening merchant accounts under shell companies to process transactions for something completely different than what your merchant application says is a felony, yes? lots of shady operations used to do this back in the day until they started cracking down on it

Thats not what he said! He only said mention something different to the BANK when opening an account. Nothing shady about that, lots of companies are doing that including myself. Most banks even advice companies to make a global description about your company to avoid problems. For example they dont like adult companies so most of those companies open an account saying they have an internet company. It isnt a lie, its just not specific!

Secondly he doesnt say the merchant account is from the same bank. Most of the times merchant accounts are provided online through secondary parties and secondary banks...For example most banks in Holland dont even have a merchant department because nobody uses creditcards here only when they are forced when for example they go on holiday and need to book a hotel. 90% of europeans doesnt have or doesnt use a creditcard!

Actually, he did say that. Applying for a mid as a software company when you're really using it to process crypto currency purchases is not the same thing... why do you think he even said it like that? No low/regular risk merchant accounts will approve that shit because of chargebacks.

mis-coding transactions and lying on your merchant application is definitely not "legal". If the card companies find out that you are doing this they will kill your accounts instantly.

I put "legal" in quotes because I just don't know if it is a heavy fine levied by the card companies or a felony now. The adult industry has been doing this for years and it finally got cracked down on because of cross-sales and other misc. bullshit they pulled.

He did not mention MID, he only said "apply for a bank account" and later on "so we can get creditcard up and running". At least that is what is mention in the email links posted in this topic.

But indeed if he does try to open a mid and lies about his transactions then its a matter of time before they get closed, probably faster then he thinks as they will check his server ip address and all sites hosted on it..

But maybe i just dont see it as shady as i really hate the rules of the creditcard companies...who are they to tell what customers can and can not buy or what merchants can and can not sell... if its only a chargeback problem then just ban merchants who have to much chargebacks or let them pay for all costs...what they do now is assuming you have lots of chargebacks and therefor ban you upfront...it doesnt make sense...

banks don't care what type of business accounts you're opening... they only care when they issue you a mid. i'm 99% sure that is what he's referring to there. the problem for him is that this isn't 2010 anymore.

the russians in the rx industry fucked that mis-coding trick up. not saying i disagree with your last point but it is what it is and those are the rules of the road now.

if he's risking this, after already getting shit on by stripe, to set up cc purchases because they're not liquid then he is a certified moron. if all of those emails are legitimate he is by far one of the stupidest motherfuckers to grace the internet.

Yeah thats true i agree with you fully!

Oh but banks do care bye the way. I was banned by all dutch banks when i said i had an adult company. I also got banned when i told i have a business related to bitcoins although that last one was 2 years ago. They said (Rabobank/ING/ABN/Fortis) that bitcoin was bad for their brands as it is mostly used for money laundry and they cant see where the money is coming from.

That basically is the whole thing why bitcoin in its current form will never be accepted by the mass. what if people get their salary in bitcoin. goverments cant calculate who and what people get and how much taxes they have to pay...and much more things like that...so they will never accept it.

as from the adult part. banks dont want their names connected with adult. That is also why hookers, which is a fully legal job here, dont get a bank account... and yes its really strange, my adult company is fully legal as well, still all banks and all creditcard companies say i cant use their services because my content is too extreme Sad

So basically my only option is to fraud!

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