PayabilityReviews of payability.com

I am taking a course for Amazon Seller and have had the opportunity to hear many experiences about issues and solutions and noticed that many of the critics of users were related to their bad experiences with Payability because of hidden conditions and high fees. They all pointed that the fees were even charged directly from your Amazon account and sometimes the charge was even higher than what you were suppose to pay back. I hope nobody takes the risk with them.

They ask for intrusive information and string you along like they’re going to approve you, then at the very end tell you, no sorry you have to be 50% fba in order to use our services. Don’t you think that would be one of the first things they ask from you if it’s that much of a deal breaker? Thanks for wasting my time.

I really feel that they prey on small businesses. They get these fake reviews which make you want to give them a chance because when your a small business it's nice to have a helping hand with funding. However, with Payability I can say that my personal experience has me of really no shock. I started to see that they were a shady company about 1 month into starting to use their advancements. From the start they have made payments fail to charge additional fees and have had numerous "glitches" as they call them to where money is missing. Then when you finally complain they will fix it on the spot and say "there was a glitch". I now have had my fair share of their payments failing to debit like they should.. which then they always claim it as being my fault. I am not satisfied at all with this company and would not recommend them in any type of way other than to stay far away if you can! I wish that I would have never utilized their services ever! They will set you up for complete failure if you let them. If your with them now.. I would start the process of closing out with them as they scam people into these agreements claiming they signed crap that was never even shown at all. I come to find that they have you eSign on ONE DOCUMENT then link others to it as well and copy the signature. However, you don't see these documents or know of their existence until something goes wrong because they will quickly think they are sneaky to then bring these "documents" about. I am a bit smarter than you may think and will do what I have to do to make this right! They claim I owe them a ridiculous amount of money and find it hilarious that you would turn your "glitches" into my problem. God bless and hope this review finds you well. Steer clear is all I can say! Best of luck! I will be making sure to share this experience with the world on all means of social media to let others know to stay away from these nasty sharks.

I never understood the charges the fees are very shady they said one thing then it does not add up . Just confusing

They have you payback quickly and fast. They also do not report to your credit bureau. Scam.

Hi! I'm a 7-figure seller that just stopped working with Payability. Here's why: They are hiding fees in the fine print. It's obvious once you get onto the platform... they quoted us 1% of revenue with a 10% reserve. If you have anything higher than this you're being ripped off - you can negotiate it down. But here's the catch... their quotes are NOT accurate and they completely fail to disclose the additional fee I'm about to explain. This fee DOUBLES your "on paper" fee, and you'll never see it until you start working with them. Think you're going to be paying 1.5%? Plan for 3% in reality. If you're reading this you know what Payability is, so I won't explain it. Basically their is a growing balance of "receivables" that they have purchased that are constantly in your account. For example say that at any given time they are "holding" $40,000 of your receivables. When they purchase these and pay you out they charge you their 1% fee for doing so (or whatever your rate is). Totally fair! But here's the catch.... the "loan period" ends every two weeks. And when the loan period ends your fees are RECALCULATED! So if you have $10,000 in receivables "factored" (purchased by Payability and paid out to you) they charge you the 1%, then when that amount rolls over (all amounts ALWAYS end up rolling over) you are charged ANOTHER 1%. So you are paying DOUBLE the normal fee. This additional fee is showed NOWHERE up front, on their site, or in anything besides the fine print of the paperwork. If you aren't looking for it you will never spot it, and that's the point. They're hiding half of the fee that they are charging you and it ends up adding up massively. If you're running a 20% profit margin like us 1% of revenue sounds ok for steady cash flow. But 2% of revenue? That's 10% of our total profit! Do you REALLY need to pay 10% of your total profit just to get money two weeks early? Absolutely not! And if you want to get off the wheel you have to fork over a FULL MONTH of your revenue just to pay them back the factoring costs. In the long run we can say it is absolutely not worth it. Avoid factoring like it's the plague, and avoid this company especially - I bet in a few years we all read about their deceptive practices in a class action law suit. If they respond saying this isn't true just think to yourself.... do they have an incentive to lie to you? Check the fine print of your contract for "rebalancing" or any synonyms of that word and you'll know I'm telling the truth. Edit: By the way we called them out on this!! Their response? NO ONE at their company could explain what was going on. We had to go all the way up to the CFO to get an explanation of what was happening. They DO NOT want this information out there and their sales reps will 100% lie to you to get you to sign up. Don't trust anything they say - read the fine print! Response to Payability: Their response to this is hilarious - I wish Trustpilot let me reply. This is a BS workaround that they're using. Their system makes it so that this happens 100% of the time. They absolutely did not disclose this except in the fine print of the contract. I love how they blame it on our account and Amazon though. This company is a shark. They're basically payday loans for ecommerce. Come into this expecting your fees to be 2-3x what they quote and you will be fine. Do not believe a word they say, their PR department is paid to shove this under the rug and hide it from you. If you're going to work with them expect 2-3x fees and you're fine.

Payability fee structure is deceptive and fraudulent. After over 9 months of using the service for standard payments (if you research real reviews you will see the payments are not next day or instant), I discovered the actual fees were almost 6% of gross sales on. Many people think it's similar to a regular merchant where they take 2% off the net that is sent but it's actually gross plus hidden fees. The hidden fee structure works like this - Say you have $1000 in sales in 5 days, automatically you are charged 2% on that ($40), next you get 75% of the net sales of that $1000. So if you paid $400 total in shipping fees and amazon fees, you would get 75% of $600 ($450) but before that, Amazon reserve amount is taken into consideration so it is actually even less but here's where the trick is: When Payability releases the 25% of their reserve from that period of sales you get charged another 2%, when amazon releases funds to Payability, you get charged another 2%, and finally when your reserves are released from amazon, you get charged another 2%. During my time with them, I had $83,000 in gross sales, netted about $43,000 from Amazon, and Payability took over $4600. So the reality of payability is 5.6% of gross sales and, in my case, over 33% of all profits. Because remember, Amazon paid out $43000 but that hasn't factored in the Cost of Goods Sold. Google Payability Fees to see their advertised fees and compare it to our case study at sitelead net This is similar to a payday loan company and they have load of complaints with the BBB and everywhere else. They are just really good and reputation management (and hiding fees) Edit 2/16/2021: Per Payability's website and listing on Google, their financial services are simple, fixed, and a flat fee. This is simply not true. Here is the exact text from their Google listing and website: "Payability charges a simple, fixed flat fee typically between 1% and 2% of your gross sales. For example, if you are an Amazon Seller who qualifies for a custom fee of 2%, and your gross sales are $10,000 in a payment period, you will pay a $200 fee to receive daily, next day payouts." There is no confusion. I have audited over 4,000 transactions from Amazon including everything from canceled orders and returns to charge backs and it doesn't even come close to what they charged me for. Since the entire time I have sold on Amazon, I have never even sold as much in Gross sales as they claimed. Stay far away from this company. Also, I have not communicated my account information to Trust Pilot until after Payability's response so it's interesting how they would know the exact account this review is connected to.

Don’t let them lie to you they do go off your credit report