Intuit Payment Services Intuit Merchant Services, Intuit Payment Network, Intuit Risk Management Department ntuit Merchant Services along with Intuit Risk Management would not deposit a paid invoice from my customer into our business bank account Woodland Hills, California

My business, opened a Merchant Account with Intuit Merchant Services in 2002.

We have used the Intuit Merchant Services to process our customers credit cards.  In 2012 we started to utilize Intuit's Payment Network Services so our customer's could pay their bills online using either a credit card or direct payment from their bank.  We were not notified at the time that there were limits or fine print.

It was just an addition to our Merchant Services account.

Since 2012 my business was always in good standing with Intuit Merchant Services.  Their fees were always paid, there was never an issue.  One of our largest customers recently used the Intuit Payment Network Services to pay an invoice in the amount of $30270.00.  Our customer used their credit card, the charge/payment was approved and sent from their credit card on Monday March 11th, 2013.

On Tuesday March 12th, 2013 my company received an Email to our general business email address info@majorfiberoptics.com from Intuit Risk Management Department requesting documentation to process the payment to our business bank in Bartlett IL.  I faxed the required documentation, six months of bank statements and the invoice that was sent to our customer in the amount of $30270.00.  On Wednesday, March 13th I sent a reply email to the address that was included in the Risk Management Department email to confirm if Intuit Risk Management had received the required documentation and if the funds were in process of being transferred to our business bank account. On Thursday, March 14th when I did
not receive a reply confirmation via email or did not see that the funds had been transferred to our business bank account I called the number listed on the Intuit Risk Management Department to find out what happened.  I spoke to a Mary Curtis in the Intuit Risk Management Department and she informed me that she would send me her email address so I could email the required documents to her.  I received her email and forwarded all of the required documents to her.  Mary Curtis then emailed me back and claimed she only received 2 months of bank statements.  I verified that I had sent all six months of bank statements, the invoice that was sent to my customer as well as the initial letter from Intuit Risk Management requesting the documents.  I then resent the documents in a new email to both Mary Curtis and to a Nina Gentiles at Intuit Risk Management as Mary Curtis was going to be leaving for the day in 10 minutes after she had sent the
email informing me that she only received two months of the bank statements.  She also stated she would be in her office at 5:30 a.m. PST on Friday, March 15th.  In her email she also requested to send the remaining four statements so she could adjust our account to allow for transactions of this amount.  At no time since we have done business with Intuit Merchant Services or Intuit Payment Network Services were we aware that there was any type of limit.  After resending the required documents two more times just to make sure they received them, I started receiving notifications that documents for our Case ID 110198424 had been received.  I received five of these emails.  On Friday, March 15th at 12:47 p.m. CST I received an email from Mary Curtis stating that, according to the documentation that I had sent to her our Merchant account only supported transactions up to $10,000.00 and she requested the contact name and phone number for our customer to verify the transaction with the card issuing bank.  Unfortunately, due to a personal emergency, I did not see that email until 7:45 p.m. CST.

Along with the email from Mary Curtis that was received in my email account at 12:47 p.m. CST there was another email from Intuit Payment Solutions that was received into my email account at 12:51 p.m. CST notifying my company that Intuit Payment Solutions had closed our Merchant Account.  Attached to this email is a letter from Intuit

In the attached letter of the email we received from Intuit Payment Services was a notification that Intuit
Risk Management had terminated our account due to Security Risk.  What Security Risk?  The letter also informed us that Intuit Payment Services will hold the funds of $30270.00 in a non-interest bearing
account.  So basically my understanding is they are taking the money that my customer paid to my company for an invoice, in which we promised our customer product.  My company, MAJOR Fiber Optics, Inc. is a
small business.  We will lose this customer if we cannot provide the product we promised them on time.  We will most likely lose our business.  Our concern and disbelief is that this is even happening.  Our customer paid the invoice with their credit card.  I had checked with our customer because we were not seeing the funds appearing in our business bank account.  They assured me the amount was debited from their credit card.

As a resolution we would like Intuit to either A) transfer the full amount of $30270.00 to our business bank account as this is already paid for from our customer or, B) refund the amount to our customer's credit card.  I am amazed that a company the size of Intuit can actually steal money from a small business like this.  We had trusted this company and now are so disenchanted and completely disgusted.

There are numerous complaints from other companies who may not feel they can do anything about this.  As our business will most likely shut down if this is not resolved, we have everything to lose.