innovative merchant solutions/intuit/quickbooks is the worst company to deal with for credit card processing. We have been using them for a better part of 10 years, everything was good up until 2009. in aug we started to get chargebacks from customers, we go and send all the needed paper work in and wait for a reply.... than in mid aug. we started to notice that credit card funds were not being funded to our bank account, so we called to see why the money was not being funded, after getting the run around from too many people, we finally were told our account was being monitored by the "fraud" department and would have to talk with them about it. we ended up talking to "freddie, or frederic" he said that since we have had "chargeback" our account was needing a $6000.00 security deposit, ok I told him but you are holding over $10000.00 why and when will we get our funds released back, he said he would have to talk to his supervisor about it, this conversation started on 09-11-2009, I could not believe this at all, they were holding money and could not give me an exact reason why and who else was holding the other $4000.00, after a number of calls and messages and no return calls, no supervisor would return my calls, I was getting pushed from 1 person to another. It is now the 18th of sept. and I still do not have a reason to why the funds are being held and how long it will be til they are released back to us, I have customers calling to complain about this problem and am getting no response back from Innovative. I would stay clear of this company completely and look for another company to process credit cards through, I do not usually go on forums to post my complaints but this is crazy for them to do such a thing. This is my first step to getting them to open there eyes to this problem, I plan on filing a complaint with the better business bureau, and I have contacted my attorney as well to get this over with, they claim they will not refund my customers money because they need to hold this so called "security deposit" B.S.
In a final word about Innovative Merchant Solutions... stay clear of them, they have terrible customer service, they do not return calls and they change the way things are done to suit them, not their customers.. who by the way pay there service fee's and all. This company is a major joke stay way.