New COMC submission policy regarding negative balances

[THSN]

I understand this, but it also means I probably won't be sending them the big whack of cards I had just about ready to go. The following is quoted from the email I received a few minutes ago.

Hello,
Due to our increasing volume of consignment submissions, COMC is making an adjustment to how Store Credit balances are handled.

In the past, a loophole existed that allowed items to be deposited into accounts with insufficient Store Credit to cover the processing fees, causing accounts to "go negative". We never intended for sellers to carry a negative balance in order to process items, and we have adjusted our systems to ensure accounts with insufficient store credit will no longer have cards added to their inventories.

Under this new system which is now in affect, we will check Store Credit balances prior to deposit. Each night, we will attempt to deposit your pending items. If your Store Credit balance does not cover the fees due for that deposit:

Your Store Credit balance will go negative to cover the processing fees due for that deposit.
All items in the deposit will be placed on hold until your Store Credit balance is positive.
The due dates of all of your pending processing transactions will be moved forward one day.

We understand this will be an adjustment for some sellers who have relied upon the ability of their account to become negative, but we're confident your cooperation will enable us to provide faster processing times and continue to keep COMC the safe and easy way to buy and sell.

Thanks for doing business with us.

The COMC Team

 

[ShutoutCards]

I understand this, but it also means I probably won't be sending them the big whack of cards I had just about ready to go. The following is quoted from the email I received a few minutes ago.

Hello,
Due to our increasing volume of consignment submissions, COMC is making an adjustment to how Store Credit balances are handled.

In the past, a loophole existed that allowed items to be deposited into accounts with insufficient Store Credit to cover the processing fees, causing accounts to "go negative". We never intended for sellers to carry a negative balance in order to process items, and we have adjusted our systems to ensure accounts with insufficient store credit will no longer have cards added to their inventories.

Under this new system which is now in affect, we will check Store Credit balances prior to deposit. Each night, we will attempt to deposit your pending items. If your Store Credit balance does not cover the fees due for that deposit:

Your Store Credit balance will go negative to cover the processing fees due for that deposit.
All items in the deposit will be placed on hold until your Store Credit balance is positive.
The due dates of all of your pending processing transactions will be moved forward one day.

We understand this will be an adjustment for some sellers who have relied upon the ability of their account to become negative, but we're confident your cooperation will enable us to provide faster processing times and continue to keep COMC the safe and easy way to buy and sell.

Thanks for doing business with us.

The COMC Team

It's just a return to the way they ran things when they were still checkoutmycards.com - sellers needed to have the credit necessary to cover the processing fees of their cards in their account before they started the process. This way, they say they'll stop people from selling on credit. Chances are, it'll slow down the amount of cards that are sent in (they're about to hit the 14 million mark) and allow them to reallocate their resources towards increasing their processing speeds, getting cards on the website faster.