- Report: #719240
Report - Rebuttal - Arbitrate
Complaint Review: First Data Corp
First Data Corp1307 Walt Whitman Road Melville, New York United States of America
First Data Corp Small Business Abuse by First Data Melville, New York
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We sent a 31 page fax with all supporting documentation including customers contact details, shipment tracking information, supplier invoices and a letter from bank. Mr. Moss contacted us on April 6, 2011 to say that he cannot release the funds because of the high risk associated with our account.
We did everything in our control in order to prove that we are a legitimate low risk business:
- Provided all required supporting documents within reasonable time frame.
- Submitted the letter from our bank.
- Never had chargebacks or credit card charge disputes.
- Excellent credit history of both the company owner and the company itself.
It seems that First Data holds funds regardless of merchants business practices. Submitting all required documents and having excellent payment processing record did not convince them to release the frozen funds. The main reason behind this move was to hold the funds so they can collect the interest.
First Data needed additional documents to get more information about our business and determine the appropriate hold amount. They were using these documents not to help clarify the issue but against us, their customers.
First Data minimizes the risk by holding merchant funds and at the same time maximizes its profit by collecting interest from these funds while asking merchant to pay in full all fees for their service. It looks like First Data merchant service cannot make any profit without RIPPING OFF CUSTOMERS.
They make merchants, consumers, suppliers and manufacturers hostages of their improper business practices. It would be interesting to see what their risk analysts would say if somebody put their paychecks on hold for few months
I RECOMMEND READING THEIR AGREEMENT; IT EXPLAINS HOW THEY CAN ABUSE YOUR BUSINESS.
STAY AWAY FROM THIS COMPANY. FIRST DATA IS THE WORST MERCHANT SERVICE PROVIDER WE EVER DEALT WITH.
This report was posted on Ripoff Report on 04/18/2011 08:38 PM and is a permanent record located here: http://www.ripoffreport.com/r/First-Data-Corp/Melville-New-York-11747/First-Data-Corp-Small-Business-Abuse-by-First-Data-Melville-New-York-719240. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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