Overview
Headquartered in London, Allied Wallet (alliedwallet.com) is a merchant account provider that specializes in e-commerce and has grown rapidly in the last two years. The company, which was founded in 2002, appears to utilize First Data as its processing network but may also be partnered with other international companies and banks. Allied Wallet claims to service 88 million users worldwide and expects to process $55 billion in 2013, but the company has received very little coverage in the U.S. and is not showing very many reviews online. This is likely due to the fact that Allied Wallet appears to operate most heavily in Asia (specifically Russia and China) and the UK. In fact, Allied Wallet was the first company to win the international rights to transact renminbi online, which has helped it to secure a large foothold in the growing Chinese e-commerce market. Andy Khawaja is listed as the CEO of Allied Wallet.
Allied Wallet reached a civil settlement with the FBI in 2010 for a sum of $13.3 million, which the FBI had seized in an online gambling raid. According to the FBI, Allied Wallet knowingly partnered with a Scottsdale, Arizona-based bank to process offshore wire transfers and other payments related to gambling through an Isle of Man company called Pokerstars. Allied Wallet forfeited the total amount seized by the FBI and has not been cited for similar illegal activity since the ruling.
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Allied Wallet Bottom Line
Allied Wallet’s grade has improved since our last review. The company appears to have dropped some of its more questionable marketing tactics and has reduced its number of BBB complaints. It is not showing a high volume of complaints online and appears to do most of its business outside of the U.S for the time being. At this point, we still have some reservations about recommending the company, but there isn’t a sufficient complaint volume to recommend against it.
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About Phillip Parker
Phillip Parker is a former merchant services agent turned small business advocate and the author of "Fee Sweep," which teaches merchants how to dramatically lower their processing rates, eliminate junk fees, and avoid fine-print scams. He founded CardPaymentOptions.com to help merchants enact positive change in the credit card processing industry. Schedule a Consultation with Phillip
Schedule a Consultation with Phillip
Joining Allied Wallet in 2013 was a costly $5000 mistake.
With AlliedWallet you are guaranteed the following:
1) Loss of funds
2) Zero customer support
3) Unprofessional service
4) Become another foolish victim
I have experienced all 4.
My payouts suddenly stopped in August 2015 without any prior notice.
Receiving a response from AlliedWallet “customer support” has been virtually impossible, you have more chance of Leicester City football club winning the premier league.
The very brief and unhelpful reply from “customer support” stated my account was on hold due to low volume. In order for the funds to be released (approx $5000) volume should be increased.
Now, no one in their right minds would trust a tinpot company with more cash $$$?
Here is a little about my account:
I have zero charge backs
I have zero customer complaints
I have been in business 8+ years
My industry is mid-risk
Process approx $750/month via AlliedWallet
Let’s be clear:
I was never never never informed of any account issues
$5000+ is sitting in my account (not including rolling reserve)
My AlliedWallet merchant account is fully functional
My AlliedWallet account panel states “Active”
I’ve been polite in all email correspondence (I might as well improve my odds of a reply)
To this day I’ve received only 1x brief email from “customer support”
Fortunately for me, scam merchants AlliedWallet was never my 1st choice provider, simply a backup solution.
If you are looking to lose money and potentially ruin your livelihood, go ahead sign-up fool !!!!
Update: Payout issue has been resolved successfully. I no longer feel my review is fair.
The lack of communication left me in limbo but Allied Wallet are not scam merchants.
Allied wallet is just sitting to take money and not pay they are payment processors, they are thief.
Trevor is the guy in sales, i guess entire company runs on 5-10 employees.
We started processing with AW in AUG2015 we processed around 14000 USD. we got 3-4 chargebacks. they never wired even a single settlement.
they are pathetic no professionalism . I am going to sue them soon.
Alliedwallet is rubbish I can’t even log in with the password that was sent to me. I have even clicked forgot password but didn’t get a new one sent. Now the item g ordered gap been cancelled by the seller because they didn’t receive payment.
Wondering I haven’t read these comments earlier!
Same story with our processing as above.
We have been processing for 2 month. Funds were released properly, however processing was low.
As soon as we pushed the volume up and in a week they should have settled us proper amount of money, we received and email from Moe Diab about the Chargebacks ration going high and we should pay attention on this or they will have to fine us $100 per Retrieval, not Chargeback.
All the retrieval reports requested by AW were properly sent with overloaded volume of information necessary for CBs fight. No one report has been reviewed and in the end of the months Moes notification came.
Just next day we had a notice, that due to Fraud reports they have to terminate our accounts and money will be held for 180+ days due to investigation and possible disputes payouts.
Now they held settlement 36.000 GBP + 8.000 GBP holdback.
Customers support in this Cowboys office is simply missing! Never replied to our mails of requests. Only one person I can consider as a reliable there is Derek Baehr, IT support. Replies immediately to any issue discussed on skype.
Well, my suggestion is not to go for them and if happens, take the issue to the lawyers to try to blame them.
Very Funny!!
A much over disaster experience with Allied Wallet.
After reviewing and agreeing with the terms they have, my funds were holded for initial 90 days as a matter of high risk.
I kept on enquiring about funds release date and then was informed about the first release date i.e. 24th Dec’14 as per 90 days initial holding.
It was not done and was informed that they have found some wrong transactions and the number of chargebacks are more.
I agree it was however, the reason of holding the funds for initial 90 days was given for the same reason due to high risk account.
I didn’t get my payout and due to insecurity, I stopped transacting. It was then informed to me that in order to get a payout I should keep transacting and show a active processing however, my question is, if you are not releasing the funds on time as promised, why we should keep on transacting the amount.
These guys have many reason to hold the money for 180 days and use it.
Very bad experience and this is for the first time. I have signed up with other merchant provider which is far better then Allied Wallet.
After sending several transactions during 2 weeks, our account was around $5,000 usd. They missed the first and the second scheduled payment date, and then they said the account was suspended, and that they were not able to release the payment if we didn’t continue to send transactions.
After a phone call with the COO, he decided to cancel our account and release the payment after 6 months.
“Hello Chris,
Please note that we cannot release funds on any account that is not actively processing, you will need to process the volumes you requested on the application when you opened the account and it needs to be continuous without any interruption in order to receive weekly payouts, we cannot release otherwise.
Best Regards,
Moe Diab – COO
[Customer Service] 888-255-1137 | [Direct Phone] 310-424-5495 Ext 5005 | [Mobile] 818-967-7485| [Fax] 480-304-3434|
Dear Moe,
What if some one does not fulfill the commitment will you hold the money even after having a huge rolling reserve of 20% and first payment after 45 days.
Where is the money your owe our company £19,000 you promised this money would be into our account 2 days ago
Hi,
I read your article with interest.
For the past month I have been applying to open a merchant account with the UK arm of Allied Wallet.
Terms were agreed, rates were agree and paperwork signed and returned. I have apparently been dealing with both the UK I have been dealing with a Steve Wilson Managing Director, Allied Wallet Europe and Lewis ClarkUK & European Business Development Manager, Allied Wallet Europe – so both of them should know their jobs?
This isn’t a new application – we have been communicating for a month, and all business information has been supplied to Allied Wallet and their Risk Assessment team.
We agreed a card processing fee of 2.9 percent plus a 30p per transaction fee.
Forms were signed and returned to Allied Wallet.
Even as of yesterday, I was promised that the account would be live by 4pm.
Then today was the “bombshell”. I was asked – “Did you sign the termsheet with the new rate of 7% + £0.30p on?
Well no – I signed the terms sheet with 2.9 percent on plus 30p
This new term sheet had never been sent to me.
I am now presented with a take it or leave it?
Have any other members been held to ransom by Allied Wallet just before their website was to go live?
Hi,
I am currently applying with them. They told me that it will be up in about 48 hours. Can you tell me more about your experience?