ED Magedson – Founder
capital merchant solutions-Ty Bonds-Chris Nelson3005 Gill St. bloomington, Illinois United States of America
This company has a reputation of freezing small merchants money with no just cause. We are a small Merchant an auto transport broker...We signed up with them the last week of september and received our first chargeback on october 18th. They ended up reversing the charge back after we provided them the info showing our services were rendered. With out us knowing they froze our batches to our bank account but happened to not tell us this until we had our biggest days as a company on the 23rd and 26th with about $6,000 in sales.
They asked us for 10 contracts from customers that have obtained our services in the past 30 days which we provided them. Because one of the customers happened to say they we'rent happy with our service they proceeded to close our account and are now saying the funds may be frozen up to 6 months. If Capital Merchant Solutions was our customer service department I would understand. It seems they are more into holding clients money than gaining business as almost every complaint on the internet about ipayment inc and capital merchant solutions and their gateway authorize.net all have the same ring to it. Im guessing they make a pretty big amount an interest when they hold clients money for the 6 months.
Furthermore the lady ty bonds which is in charge of customer disputes is not the best person when it comes to customer service. It's pretty much like talking to a brick wall and as other customers on here have stated she will just belittle your complaint and doesn't care about the damage her company is causing to a small business that employ's 15 people with familes that count on a paycheck every week. The $6,000 capital merchant solutions has caused great damage to my company and I hope this article will prevent at least one merchant from going with them as their processor.
This report was posted on Ripoff Report on 12/01/2010 09:44 AM and is a permanent record located here: http://www.ripoffreport.com/r/capital-merchant-solutions-Ty-Bonds-Chris-Nelson/bloomington-Illinois-/capital-merchant-solutions-Ty-Bonds-Chris-Nelson-wwwtakecardstodaycom-Processing-scam-666974. 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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