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Anyone used credobill?

Discussion in 'Business & Tax Advice' started by dlkur, Oct 12, 2016.

  1. dlkur

    dlkur Newbie

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    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.
     
  2. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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

    TheNumbersGuy Jr. VIP Jr. VIP

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    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.
     
  4. dlkur

    dlkur Newbie

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    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
     
  5. TheNumbersGuy

    TheNumbersGuy Jr. VIP Jr. VIP

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    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?
     
  6. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    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!
     
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  7. toml3030

    toml3030 Elite Member

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    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.
     
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  8. BadGrammar

    BadGrammar Registered Member

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    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.
     
  9. Jeremy Perkins

    Jeremy Perkins Newbie

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    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.