I have been a customer of IMS for many years with my small business and use them through quickbooks for credit card processing.
For years I was happy with the service however I believe the company is having financial trouble and Im concerned about using them anymore.
My company is a seasonal landscaping business. We took on a new customer who is a well known, well financed company in our area. The customer needed a job done right away.
We had just paid our sales tax and income tax and were short on money in the bank.
We signed the contract with the customer and took a $2000 deposit for the materials for this job which was holding up him getting a certificate of occupancy.
This was on a Wednesday. The customer offered to give us a check on the spot but our bank holds checks for 4 days before they clear. Instead we took a credit card for the deposit since the credit card charges always clear in 24 hours.
I allowed an extra day for the money to clear so I told the customer that we would do the job on Friday.
Keep in mind we have a perfect history with our bank and IMS.
Heres where the nightmare begins.
Thursday is when we normally would have the money. We checked our bank and it was not there. No problem.
Checked friday and saw it wasnt there.
Then our office gets a phone call from IMS stating that the transaction was sent to their "risk division" for review and they needed to verify the transaction was legit and needed additional documentation.
As soon as we got off the phone we faxed IMS, a copy of the invoice, a copy of the signed contract by the customer, an information sheet with all of the customers information and contact info.
Very easy straightforward transaction.
Call back later that afternoon and thats when the fun began.
Nobody could tell us when the money would be released. I spoke with a snotty woman who just kept repeating that she has to verify the transaction and that would take some time.
Ok. Now I call the customer and tell him we have to reschedule for Monday. I bought an extra 3 days to get the money.
I call first thing monday. Same thing. We have to verify the transaction. They refused to say how long that would take.
Now I call the customer and explain what happened. He went online and checked his credit card and the MONEY WAS TAKEN FROM HIS ACCOUNT THE DAY I PROCESSED THE CARD. The transaction was approved, there was no problem with the accounts.
I called the woman back and got the SAME runaround. You would never know that this company was working for ME. I pay them every month.
I told the woman the story. I gave her the phone number for the customer and said "Why cant you call now and verify it?"
She said "it doesnt work that way"
I called every single day for OVER 2 WEEKS and got THE SAME STORY.
The transaction was LEGIT. I provided a SIGNED CONTRACT, AN INVOICE, AND THE CUSTOMER.
IMS took MY MONEY from the customer and HELD IT FOR 2 WEEKS FOR NO REASON.
After looking this company up on this site and MANY others, I see that Im not the only one having this problem.
I can only conclude that Innovation Merchant Solutions is having money problems and is using their customers money to float. There is no other reasonable explanation.
This is a company I PAY to process a transaction.
I have never had such a bad experience in my life and it almost cost me a customer that I have been trying to get for years.
Not one person at IMS even said they "understand my frustration"
I am going back to my previous credit card processing company that I had for 15 years before IMS.
15 years of transactions from $20 to $20,000 and I had the money in my account in 24 hours like clockwork.
Beware before you use IMS. They are obviously a struggling company and Im afraid if I process another charge they may not be in business by the time I get the money.
Poughkeepsie, New York
U.S.A. Click here to read other Rip Off Reports on Innovative Merchant Services