11th November, 2005
A Service of badbusinessbureau.com
Subject : Release of our funds US $ 6642.12 held by myPaySystems Regarding
Reference : Our Account # 151940 with myPaySystems email@example.com
Referring the subject, on 28th February, 2004, we received an e-mail from,
1500 University St., Suite 920,
Montreal, QC H3A 3S7,
that they are terminating the business relationship with our company due to the new actions launched by US Government Agencies and Master Card International. It was also stated in that e-mail that the pending account balance of US $ 6642.12 will be held for an undetermined period and will be reviewed for possible release in the near future.
To the above communication we replied to myPaySystems on the same day (28th February, 2004) asking them not hold our balance payment of US $ 6642.12 for unspecified period of time which will lead us to severe financial strain.
On 05th March, 2004, we received a reply from BPAM@myPaySystems.Com, that after a 60 day window period, if there are no refunds or chargebacks they will release our payments.
On 10th August, 2004 we received an e-mail from firstname.lastname@example.org, that they are Forced to terminate Internet Billing Account (IBA) allegedly due to restrictions imposed by VISA / Master Card and due to suspension of PaySystems account by their acquirer Pago eTransaction GmbH/Deutsche Bank. They further stated that all the users of IBA would not be able to process transactions and that all funds will be held for unspecified period.
On 11th October, 2005, we replied to myPaySystems pointing out the unfair treatment meted out to us. We also mentioned in our reply that no money has been deducted on account of charge back or refund for the last 5 months. In view of the no charge back or refund, we asked myPaySystems to release our funds immediately.
On 12th October, 2004, we received a letter from myPaySystems that they are withholding the funds.
On 19th November, 2004, we replied to myPaySystems pointing out their illegal retention of our funds. We also sent a letter dated 28th December, 2004 to myPaySystems.
We received a reply dated 09th February, 2005 from myPaySystems that they will be returning the funds but they can't predict the length of the time it will take.
Now nearly after 2 years, we are yet to receive our rightfully earned money from My PaySystems.
In view of this we request you to take up this issue with My PaySystems and help us to get back our hard earned money.
Econo services (india) private limited
Chennai, Tamil Nadu
India Click here to read other Rip Off Reports on PayPal