- Report: #1061626
Report - Rebuttal - Arbitrate
Complaint Review: Pay Anywhere
Pay Anywhere250 Stephenson Hwy troy, Michigan USA
North American Bancard aka Pay Anywhere Merchants BEWARE! Bank ponzi scheme to keep your money! troy Michigan
*Author of original report: Stop Pretending
*UPDATE Employee: Pay Anywherre
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Merchant ID #2034618
This is a warning to all merchants who are thinking about doing business with PayAnywhere.com aka North American Bancard. Please save yourself the stress and headache and don't! They will make up reasons to keep your money and or hold it for ransome. What's worse is you will not be able to do anything about it besides taking them to court, which will be costly and time consuming.
Our California consulting company is very established and we handle thousands of dollars in transactions everyday. We were looking for a simple credit card processor with low interest rates. That is one of the reasons we signed up with Pay Anywhere, since they advertised the lowest interest rates. . . I gave them my social security and business FEIN number for a "credit check" ----But thats when the nightmare began. [continued below]....
We got their credit card swiper in the mail and we immediately started processing charges. We had only 4 transactions totalling $750 and our account was suddenly frozen in less than 24 hours! We contacted United Bancard and they started acting like thugs, demanding bank statements, invoices etc.
I called explaining that they were being unprofessional by not freezing our account with no warning/explanation and that scanning and faxing all these documents would be a lot of trouble for over $750. They threatened to withhold our money for 180 days if we did not send over the documents. This alone wasted 6 hours of my time printing scanning and sending a bunch of papers.
After they received the documents, they did NOTHING! I called many many times, emailing and no response. The customer service people are very rude and uneducated. They play this "game" of phone tag and transferring you all over the place to wear you out, in hopes you will give up. I ended up leaving over 14+ voicemails with nobody helping out.
My biggest mistake was not researching the actual owner of Pay Anywhere aka North American Bancard. After reading the horrid reviews about them, I realized I was not alone and their were many victims out there.
I was curious as to why they wanted to keep our money when there were 0 chargebacks? It has been 3 months and not one of our 4 customers claimed any chargeback, so why do they continue to withhold our funds? I realized they are a bank and this is how they make money, using merchant's money to fund their own little ponzi scheme.
They try to justify this illegal act by claiming that it is for "security" reasons, but its just a sick and greedy way of scamming innocent merchants.
This report was posted on Ripoff Report on 06/24/2013 11:07 AM and is a permanent record located here: http://www.ripoffreport.com/r/Pay-Anywhere/troy-Michigan-48083/North-American-Bancard-aka-Pay-Anywhere-Merchants-BEWARE-Bank-ponzi-scheme-to-keep-your-1061626. 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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