Anyone used credobill?

dlkur · Oct 12, 2016

Hi guys, anyone used credobill?
They advertise insanely low rates for high risk processing (2.5%). They seem to have stolen office pictures. They want an up-front deposit of USD5,000. There are two reports of fraud on ripoffreport.com however they seem to have been in business for 5 years, so if they were completely illegitimate one would expect far more complaints.

RuthSam · Oct 13, 2016

A so called credit card payment processor with 2 RipOff reports and a whois like this:

Domain Status: clientTransferProhibited
Domain Status: transferPeriod
Registry Registrant ID:
Registrant Name: Whois Agent
Registrant Organization: Whois Privacy Protection Service, Inc.
Registrant Street: PO Box 639
Registrant City: Kirkland
Registrant State/Province: WA
Registrant Postal Code: 98083
Registrant Country: US
Registrant Phone: +1 4252740657
Registrant Fax: +1 4259744730
Registrant Email: [email protected]

Forget about it.. check if they are on the public available list of AIS / PCI certified providers if not another indicator for don't use them.

They are a unknown payment processor so if you after all still want to use them, only small sums and don't pay a USD 5,000 setup fee, it is insane and screams fraud!

TheNumbersGuy · Oct 13, 2016

dlkur said:
Hi guys, anyone used credobill?
They advertise insanely low rates for high risk processing (2.5%). They seem to have stolen office pictures. They want an up-front deposit of USD5,000. There are two reports of fraud on ripoffreport.com however they seem to have been in business for 5 years, so if they were completely illegitimate one would expect far more complaints.

There's a reason they advertise insanely low rates... its just to trick people to paying the up-front deposit and then they disappear. Definitely do not pay the up front deposit if you do use them.

dlkur · Oct 13, 2016

I checked on Visa Global Registry of Service Providers but they don't come out, but come on, they are associated with Macau casinos, they wouldn't put up a website with the real entity name that's doing transactions right?
How can they be in business 5 years and have only 2 ripoff reports? Check out the XOOM ripoff complaints (and that is a legitimate company owned by paypal), complaints only for payment delays or requests for IDs. Imagine if as many people got 5k stolen ! Is it possible they are just very shady but actually providing services? In which case the real risk is what they will do with your money after, not even necessarily the deposit

TheNumbersGuy · Oct 13, 2016

dlkur said:
I checked on Visa Global Registry of Service Providers but they don't come out, but come on, they are associated with Macau casinos, they wouldn't put up a website with the real entity name that's doing transactions right?
How can they be in business 5 years and have only 2 ripoff reports? Check out the XOOM ripoff complaints (and that is a legitimate company owned by paypal), complaints only for payment delays or requests for IDs. Imagine if as many people got 5k stolen ! Is it possible they are just very shady but actually providing services? In which case the real risk is what they will do with your money after, not even necessarily the deposit

Obviously anything is possible, but I wouldn't personally risk it. How do you know they have been around for 5 years? Just because of the domain registration? Why is no one saying that their good & that their a legitimate business?

RuthSam · Oct 14, 2016

It is a big no go that's for sure...! Any payment processor that is charging 5k upfront is not in this business for real because such processors earn money on a per transaction basis!

toml3030 · Oct 18, 2016

RuthSam said:
It is a big no go that's for sure...! Any payment processor that is charging 5k upfront is not in this business for real because such processors earn money on a per transaction basis!

No legitimate payment processor ask for money ip front. What they would do is to put a 30% hold on your charges until you hit a reserve of 5k.

BadGrammar · Oct 18, 2016

I saw credobill in the thread. PLEASE do not use them. I have a friend who I am associated with who does off shore They want all this information which was understandable but they prey on those who have a hard time recovering their money due to the legitimacy of whatever business they are promoting. A HUGE scam.

Jeremy Perkins · Oct 24, 2016

Hi Guys, Interesting reads.

I have actually been processing with these guys for 2 years now. We originally used them for Gaming and moved into Binary options - they seemed professional enough. The set up process did take about a week but after that been running smoothly. I think they are advertising an aggregated pool now and I recently received an email from their sales team, promising better rates but still have not opted in. To my understanding, the main guys are based in Macau, China and they run some operations from London for English language clients. Almost $8,000 I paid to Credobill before getting started and have since recouped these funds.

Anyone used credobill?

dlkur

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RuthSam

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TheNumbersGuy

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dlkur

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