ED Magedson – Founder
WePay Inc.380 Portage ave Palo Alto , California USA
WePay Inc. AKA The Corporation Trust Company Scam, Fradulant business practices. Palo Alto California
I was with wepay for 4 days. Transactions moved appropriately and we processed approximately $1,000 in transactions with them. After the first days we noticed the "reserve" Which means that once you reach a $500 limit they will hold everything after that for 7 days. We meet and exceed that mark daily. Not initially a problem but then they began to review the account. I provided personal information, business reviews, tax information, acreddidations etc. During the review process they continued to accept payments from my website but placed them all on a "Pending" status. Then at the end of the business day, conveniently, they closed my account supposedly refunding my clients and holding onto $256 dollars. Classifying my business as a "high risk" They made their money off of me and thats that. So I am filing formal complaints with the better business Bureau. here: http://www.bbb.org/sanjose/business-reviews/payment-processing-service/wepay-in-palo-alto-ca-1000002832/file-a-complaint I will also be filing civil litigation against this fraudulent company. In case anyone else wants business information or would be interested in a class action: Entity Name: WEPAY, INC. Entity Number: C3258629 Date Filed: 11/06/2009 Status: ACTIVE Jurisdiction: DELAWARE Entity Address: 380 PORTAGE AVENUE Entity City, State, Zip: PALO ALTO CA 94306 Agent for Service of Process: BILL CLERICO Agent Address: 380 PORTAGE AVENUE Agent City, State, Zip: PALO ALTO CA 94306 Please note, they are a Delaware entity doing business in California. Many known scam companies operate the same way. Stay way from wepay. Delaware Registration information can be found here: https://delecorp.delaware.gov/tin/controller The CEO's LinkedIn page is here: http://www.linkedin.com/in/billclerico
This report was posted on Ripoff Report on 06/27/2013 05:03 PM and is a permanent record located here: http://www.ripoffreport.com/reports/wepay-inc/palo-alto-california-94306/wepay-inc-aka-the-corporation-trust-company-scam-fradulant-business-practices-palo-a-1062686. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
If you would like to see more Rip-off Reports on this company/individual, search here:Search Tips
In order to assure the best results in your search:
Advertisers above have met our
strict standards for business conduct.