AlertPay, a known online payment processor that recently had their customers’ accounts terminated by the Royal Bank of Canada provided further information about the issue. The payment service reported on their website that they received updated information from Multi-Marketing Corp which is AlertPay’s ACH/EFT service provider through Royal Bank of Canada (RBC). On Tuesday January 27th, 2009 AlertPay was contacted by the Legal Representative for RBC that requested the service to remove the posting on their official website dated Friday, January 23rd, 2009, but still the bank failed to address the reason of the problems occurred.
Multi-Marketing Corp has a service contract with AlertPay to provide ACH/EFT services. The corporation has been partnering with RBC for over 2 years now with, as AlertPay puts it, ‘a perfect track record.’ Thus, any impact on Multi-Marketing Corp hurts AlertPay directly. The payment processing provider encouraged its account holders to contact RBC for more information.
“Obviously RBC is in damage control mode, and will have their legal spin on the issue and will provide you with cryptic information. If you are able to acquire more information as to why the accounts have been terminated, please let us know,” said the company post.
AlertPay also added that they ‘have already established a solid relationship with another bank that is more than happy to service AlertPay and their members’. At the moment the company is in the process of transitioning. The processor assured customers that ACH/EFT services will be 100% operational by Mid-February. It promised: “Starting Monday, February 2nd, 2009, you’ll be able to withdraw USD funds to a bank account in the US.”