• Report: #984805

Complaint Review: Flagship Merchant Services

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  • Submitted: Thu, December 20, 2012
  • Updated: Tue, January 15, 2013

  • Reported By: smallbizzy — Saint Augustine Florida United States of America
Flagship Merchant Services
Internet United States of America

Flagship Merchant Services Cancelled account and held funds Internet

*Consumer Comment: Looking for new company

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I have an higher 'risk' business and discussed this with Flagship; who promised it wouldn't be an issue and they do this 'all the time'.  Less than 24-hours I was up and running, and very pleased.

Four days went by, and no funds were being transferred.  I called Flagship up, and they gave me the number for the 'security department'; which I find out weeks later: Wells Fargo Merchant Services.

Very bluntly, the representative said my account was cancelled.  So, they were still processing my payments (and taking their fees out), but I wasn't getting anything.

In fact, each day they took our their fees and commission from my bank account (causing my account to go negative).

I won't go into details about each day's events... but here's the skinny.  Flagship basically said whatever they wanted to get me approved.  The actual bank (Wells Fargo) saw that my business was against their ToS and cancelled me.  My sales for four days are still being held (about 5,000$).  All of my customers orders have been shipped, and I have a no refund/exchange policy; so there are no 'chargebacks' for them to worry about.

Needless to say, this has crippled by business.  I'm still trying to find a new merchant service, and have been dead in the water not being able to process credit cards.  Not only that, I do not have the cash to buy new supplies (because all of the $$ is sitting in limbo).

My advice for those with high risk businesses; if it sounds to good to be true; it really is.  Sadly, because of Flagship; I have been out of business for over two-weeks and do not have the funds owed to purchase additional supplies. 

This report was posted on Ripoff Report on 12/20/2012 05:57 AM and is a permanent record located here: http://www.ripoffreport.com/r/Flagship-Merchant-Services/internet/Flagship-Merchant-Services-Cancelled-account-and-held-funds-Internet-984805. 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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#1 Consumer Comment

Looking for new company

AUTHOR: www.mstms.com - (United States of America)

I am sales representative for another merchant company and I am sorry to hear about your experience.

My advise when searching for a new company is to explain your business upfront and I am not saying you didnt do that in this situation.  I do find it strange right after the underwriters approved your account, your account was closed.  You may want to contact and find out what is the timeframe on them releasing the $5000.00 to you.  You mentioned you were looking for a new company and we would be glad to have you granted we can board your high risk business.  Please visit our website: www.mstms.com

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