1 reviews | Active since Mar 2009
Disappointing
<p>I bought and paid for the cardreader to use in my very new small business hoping to receive delivery today since I have a client wanting to pay with a credit card tomorrow. Was just informed that because I have a devault on my credit record they can not sell me the device and service. This makes no sence! I paid in full for the device so it is not a credit risk for them, when I use the card reader the money will go into their account where they take their fees before they transfer the money into my account, again NO credit risk for them. In fact clients should insist on doing credit checks on them since their money is going through Yoco.</p>
Hi Jodi, Alice from Yoco here, thank you for raising your concerns. I understand your frustration.
Please understand that in order to get businesses set up and trading with Yoco we are required to comply with banking regulations, in particular, those set by our partner bank Mercantile. The set criteria is that businesses and the listed directors applying for Yoco should be clear of any default or judgement listings. Individual applicants signing up for Yoco should be clear of any default or judgement listings themselves. This is explained further in the T’s and C’s signed during our sign up process.
As mentioned, we are required to stick to this as per the banking regulations and this is out of our control. However, we do our best to work with businesses to get them set up with Yoco.
One of the options is that if you have documentation from the listing party showing that your judgement/default has been paid off (even if it is not officially removed from TransUnion), we can review it and make a plan to set you up.
Another option is that if you have a business partner, they are welcome to sign up on your behalf.
I hope this adds some clarity. A member of our team will be in contact shortly to see if there is anything else we can help with. Please note you will also receive a full refund if we cannot find a way to assist you.
Kind regards,
Alice
Best regards,
Hi Jodi, Alice from Yoco here, thank you for raising your concerns. I understand your frustration.
Please understand that in order to get businesses set up and trading with Yoco we are required to comply with banking regulations, in particular, those set by our partner bank Mercantile. The set criteria is that businesses and the listed directors applying for Yoco should be clear of any default or judgement listings. Individual applicants signing up for Yoco should be clear of any default or judgement listings themselves. This is explained further in the T’s and C’s signed during our sign up process.
As mentioned, we are required to stick to this as per the banking regulations and this is out of our control. However, we do our best to work with businesses to get them set up with Yoco.
One of the options is that if you have documentation from the listing party showing that your judgement/default has been paid off (even if it is not officially removed from TransUnion), we can review it and make a plan to set you up.
Another option is that if you have a business partner, they are welcome to sign up on your behalf.
I hope this adds some clarity. A member of our team will be in contact shortly to see if there is anything else we can help with. Please note you will also receive a full refund if we cannot find a way to assist you.
Kind regards,
Alice
Best regards,