I have a JELD-WEN Window and Door distribution business in Tulsa, Oklahoma and I use QuickBooks Pro for my accounting software. It only made sense to me to use QuickBooks' own credit card processing company, Innovative Merchant Solutions, to process my credit card transactions. Oh what a mistake I've made.
They are refusing to release almost $62,000 of my money to me, even after I've sent them reams of documents to them proving that the transactions is valid.
We do very large custom window and door packages for the luxury home market, and quite often these customers choose to pay by credit card to get the points and miles. We have problems with this on numerouse occasions with Innovative Merchant Solutions. They were told up front that we would not do a lot of transactions monthly, but several very large transactions.
I have sent these people the customer's signed contract, the invoice, the email from my customer giving me the CitiBank employee's name and number who assured him the transaction would go through.
Here's the kicker: the customer was nice enough to scan his online statement and email it to me showing that CitiBank had charged his card; it had my business name and phone number right there on his statement. Innovative Merchant Solutions has been paid the money by CitiBank, but is refusing to release it to me.
They are preventing me from taking advantage of the prompt pay discounts, not to mention holding my working capitol in their bank account. I have made numerous phone calls, and spoken with numerous "supervisors" and "managers", who all tell me they will call me back or they will release the funds. This has gone on for 2 weeks now. I can't get my money.
I guess I will have to have my attoney contact them with a demand for payment letter.
One more thing. They have already posted their $1,100 fee for this transaction to my account. How does that work? Charge me for something they haven't even done yet, what a scumbag way of doing business. I have been a loyal customer for 3 year, but after this latest fiasco is over, I'm finding a new credit card processor.