On December 19, 2012, we were approved for a merchant account with EPS. An agreement was submitted and paid for and we were set up with authorize.net gateway. All pertinent information that was required by our company was provided. As stated in the agreement we
are an online advertising company for the travel industry and all orders are
phone orders (no card present), and processed through the gateway virtual terminal.
We received our welcome packet on Monday, December 31, 2012 with all the information and
details for processing. We processed our first 3 transactions on January 3, 2013 and another one on January 4, 2013 for a total amount of $4,250.00. On January 4, 2013, Travis from EPS sent us an email notifying us that they are reviewing our first few transactions. I sent over the signed invoices along with all links and necessary paperwork to support that all services were rendered as they requested along with all contact information to each client so they could call and verify the transacation.
On January 8, 2013, they notified us that they are holding all funds for one year and that
all processing is now locked. When asked why they were holding with no just
cause they stated that under accordance, 2.03 under insecurity on the
agreement, they can put us under review and hold funds at any time. They said after reviewing our procedure we are considered high risk, but no details were given as to why they considered
us high risk for chargebacks. We requested that all transactions be refunded
to clients so they do not have to worry about chargeback liability. They said
we cannot refund our clients and they are holding the money. We asked whom we could speak to regarding this matter further and he transferred us to Mike Peterson where we received
his voicemail. We called Mr. Peterson several times in a 2 day period with no answer.
On January 10, 2013 we called Travis and asked why Mr. Peterson would not return our
calls. His response was, I guess he has nothing to say to you. At that time I
requested full documentation in writing as to the exact amount of funds they
are holding, the full disclosure of why they are holding the money and the
exact day of release of funds. He said he would send it over. I then followed
up with an email to confirm our request.
As of January 22, 2013, we sent 5 emails requesting this documentation
and have left well over a dozen messages with both Mr. Peterson and
Travis. They will not return any of our calls or answer our emails.
As of this date, we have yet to receive any correspondence
from this company and feel we have been victimized and ripped off.