Hi there,
Firstly, I would like to apologize on behalf of ReferBack.com for the delay in Neteller payments. We do make every attempt to have payments processed on time, and do run into stumbling blocks on occasion.
With the number of Neteller queries on Friday, we made enquiries with our processing company around the delays being reported. They have confirmed a delay in the processing of some Neteller payments. Neteller requires that our processing company pre-funds our merchant account at least 5 working days before payments are due to be processed.
As per the norm, we had pre-funded the merchant account based on our projections for May, along with a 10% contingency to cover any additional growth. Due to a large number of new requests for Neteller payments just before processing, along with some affiliates well outperforming projections and the added contingency, the merchant account was under-funded.
This resulted in the processing company having to process the list in 2 batches. We have funded the merchant account with the required additional funds, and have been informed that the balance of the payments will be processed on Wednesday the 16th of June.
I do apologize for this. It was really an unforeseen delay, and we have now put measures in place to fund the merchant account for Neteller with an additional $100,000 each month, just to prevent this error in future.
I would like to point out that we are restricted by Neteller in terms of how much additional funds we can have in our merchant account in any given month. This restriction is based on anti-fraud and anti money laundering measures.
Once again, I apologize for this delay. You have our promise of a problem free payment process for Neteller next month.
Kind regards,
Kamiel Mahomed
Affiliate Relationship Manager