MultiCards

We used MultiCards merchant account solutions for a product launch we had. We found their services to be hassle free and it provided us an international payment processing capability for multiple currencies that proved very helpful. I would recommend.

Multicards has recently lost its ability to process both Mastercard and Visa for its adult merchants. The acquiring bank has frozen funds and means Multicards CAN NOT pay its merchants what it owes them

Legal action is not pending to get this card processing agent put out of business. If you use Multicards you should get out NOW and accept you have lost what they owe you.

If you are looking for a processor then give this one a miss.

The internet is full of warnings and horror stories about this company. I can add my own to. After using Multicards for over a year, I stopped using them due to their high hidden fees and policy regarding chargebacks. Multicards has been keeping a rolling 6-months reserve, meaning that 20% of the value of all payments processed is kept for 6 months for security reasons; since the reserve period is 6 months, the total amount held back by Multicards on any given day is 120% of the average monthly payment volume. Now, after I stopped using their services, they should have released the rollover reserve gradually (monthly) until after 6 months all has been returned to me (according to their Terms). However, now after 1 1/2 years, Multicards has still not returned the reserve. Every request is simply answered “We have forwarded your request…”. After reading the stories that others encountered with Multicards, it seems to me that this company is actively committing fraud. I wish I had known….