First I must add a personal face to the matter. I am a young full-time seminary student. In addition to this, and being newly wed, I work four jobs (Youth Pastor, Boys and Girl's Club Technology Director, PC Specialist Contractor, and E-Commerce website). Simply said, I don't have much time.
I started my CongasGuayaberas.com website over a year ago. In it's first year, it produced tens of thousands in sales. Bankcard USA generated much profit on my part. No errors had been committed, and they gladly accepted their funds.
Come Winter I moved from FL to NC, and was unable to process several orders. In January, my sales were again in motion, with all packages shipped. My sales had doubled in comparison to Jan 2009, and that was only in the first two weeks!
I contacted the department regarding two chargebacks issued. I had already issued refunds to these customers, but they requested chargebacks as well. The result: Bankcard USA issued be chargeback fees, drained my bank account, and then pounded nearly daily with fees when my bank had no more funds. After calling them for over two days, and being sent to 3 departments 7 times, they told me they would give me my money back, and lift fees.
I talked specifically to Mike from accounting. There was a backback for $300, but I had a $1200 in orders coming in. MIKE SPECIFICALLY TOLD ME that the $300 would be drawn from the incoming $1200, and the rest would be placed in my account. ON THIS ADVICE I went through with the orders, took the product costs on credit, and shipped them expecting to receive the money and pay off my costs.
He told me I would see the funds in my account no later than the weekend. Over a week and no funds. I called back to learn that they placed all of that in a risk assessment account. I asked how they determined how much to put in there, and mike said he had no idea.
This has absolutely demolished my website. I can no longer operate the site. If I had received this money to pay my costs, my website would continue, and my fore-casted sales would be double what I sold last year. It is quite moronic, from a business standpoint. My company will close and they will prevent themselves from receiving all of those fees, which clearly outweigh what they're holding. In short, they killed my business and have prevented themselves from receiving much profit.
Worse of all is how they treated me. Their company tagline is something along the lines of "Helping Merchants Get Paid!" From my experience and others, you would think otherwise! I have a solid year paying them off, and then because of three chargebacks they hold over $1,000 of my funds and kill my business!
Worse of all is after lamenting my stress Mike from accounting responds with the following: "All I hear is Leonard Leonard Leonard... What about Bankcard USA"?
Can you believe that!? I thought it was about Merchant's getting paid, not all about Bankcard. How terrible this experience has been. All while balancing my heavy schedule. It is downright frightening.
They will probably respond with some cut and paste letter that simply reflects Mike's attitude. What about people, such as Leonard and others? Who cares about them? As long as Bankcard USA gains it's profit, they could care less for the trampled families they leave behind.
Save your ridiculous chain letter. I have given you too much in funds to receive such rubbish treatment. Mike echoed your sentiments well enough.