Yapstone Customer Reviews

Yapstone service has declined drastically in the last year. It is practically impossible to win a chargeback dispute. The only notice you receive is a “this is our third attempt to contact” email w/ a notice of a ruling in the cardholder’s favor. Attempts to contact customer service via telephone is an exercise in futility. You are placed on hold until you agree to leave a number for a call back that never comes. Emails take days to get responses. Even then, they don’t resolve the problem, or they direct you to contact customer service via telephone.

Recently, we received a notice stating “due to chargebacks” our funds would be held for 2 weeks. Attempts to resolve this has resulted in endless “please provide more documents” emails from them and no resolution. Our company processes more than $700k in reservations each year.

In the past month we have noticed that deposits, which were once posted to our bank the same day, have taken up to a week to post. This is a serious warning flag! The lost revenue from chargebacks, the 2 week hold of funds, and the increasingly sluggish deposit payments have raised concerns regarding Yapstone’s solvency.

I would strongly recommend not using Yapstone as a processing house.

Was checking banking statements and noticed this company in the mix. Now I never heard of this company before nor have I ever used them. So tell me why I’m having reoccurring charges come up??? Why am I being charged for something I never approved?? Am I getting reimbursed for my funds?

We have used Yapstone for many years – it used to be a great company.

Now however, Not so much.

Recently they sent us a notice that we have to provide 2 years of financials, balance sheets, P&L reports and client Statements as part of a “standard” review process as part of their Risk Assessment process. They directed us to send all this financial information to a general “unsecured” customer service email. (Note: this is first time, after the initial qualification process that we received a request like this)

All this data they are asking for is an unwarranted invasion of privacy and a violation of my customer’s trust account. We have literally had only 2 chargebacks in the history of our business, started in 2003 and have had no fraud activity whatsoever.

Vacation rentals in our area were the most stable reliable lodging businesses in California, as opposed to Hotels, Cruises, etc.

There is no valid rational for demanding all these financial documents. Can you imagine that after you initially qualify for a mortgage – your lender can require you to re-qualify for the loan at will, and if you don’t they will call your loan due? This would only happen in the Mortgage industry if you were late on payments or did something to break the agreement. These guys are making it standard practice to have their customers re-qualify for services, at their discretion.

They informed me that if I do not submit all this financial data, they will withhold payments for all new reservations. They did offer the option – if we do not want to give them our financial data, we can elect to have them hold our funds for 30 days . . . are they kidding? our property owners would go insane and our accounting department would quit.

They also, have eliminated phone support so you cannot speak to anyone. I have been requesting to speak with a representative for a week now, and no response. If you call their published customer service phone line, it just says “phone service is no longer available”.

Yet in their emails they refer to us as their “partners” – HA HA!!! cheesy.

We are hoping to locate a more ethical and logical CC processing company. So if anyone has suggestions, please post!

We too had an erroneous 1099-K report sent to IRS for rentals we had in Florida in 2018. The amount reported as income greatly exceeded our actual income. Our tax accountant has no way of that Yapstone was wrong except for my report of income for that year. Attempts to reach Yapstone have been futile. It’s as though the company no longer exists. The telephone number they have used in the past reaches a new company at the same address in Yapstone has used in the past. According to this site, the address shown is 2121 N. California Boulevard, Suite 400, Walnut Creek, California, and is a registered ISO/MSP of Wells Fargo Bank NA in Walnut Creek, California. Tom Villante and Matt Golis are co-founders while Frank Mastrangelo is listed as the current CEO of YapStone.

HAS ANYONE BEEN ABLE TO REACH YAPSTONE? HAS ANYONE RESOLVED THIS ERRONEOUS 1099-K PROBLEM?

Rented a Florida property through VRBO which was cancelled by the property management due to unavailability. REMAX (property management) held my rental payments and damage deposits for 3 months, accumulating credit card interest. Upon cancellation, I was told a full refund would be given. After no refund was posted a month later, I inquired REMAX about the refund. I was told Yapstone controls that, and refunds have been taking months, DUE TO COVID! I paid my credit card balance to avoid further interest charges, but in the meantime, Yapstone is enjoying the use of my money. Since Yapstone owns VRBO, my only option is to AVOID VRBO IN THE FUTURE!