Leaders, The Merchant Services Co Terminated my account without warning. Took $1,000 from my Checking Account Calabasas California

The merchant's account was closed due to an excessive number of Cardholder disputes. LEADERS did not cause the Cardholder disputes and has worked with the merchant for several months to try and correct or alleviate the issue. Processed funds were held on the merchant's account to secure against future losses, as LEADERS holds teh liability of any loss associated with the merchant's account. LEADERS has been more than cooperative with the merchant in explaining the loss and providing a detail of the amount due. The merchant is more than welcome to contact our Merchant Support and Risk Department for an additional accounting detail of any funds due. To reiterate, the amount due was caused by the merchant's clients disputing items and not by any action taken by LEADERS.

Well, it's been a few months and now they have sent me a letter from their attorney recovery office saying we owe them $2,307.58. And if we don't pay this they will be filing a lawsuit against us.

This company is a complete joke and shouldn't be used if you are serious about your business. They have held on to days of our charges and then have the audacity to threaten us with a lawsuit. This retarded company has done more than $2307.58 in damages to us and this whole lawsuit should be the other way around.

Sarah, way to go to hide behind your agreement and not even give us a warning that our account was closed until we called and ask. You guys are a complete joke. I didn't think the recession was making you guys desparate to hold onto our funds and then send us a $2307.58 bill with no reasoning behind it. We have no idea what it's for, instead of explaining it all you give are a bunch of threats of litigation.

I cannot believe you guys are still in business with all this crap you put small business through.

LEADERS Merchant Services would like to apologize to this merchant for the experience he had with our company. LEADERS prides itself in providing all merchants with excellent service and to hear a complaint such as this is disheartening.
Unfortunately, Risk is a very serious concern in this industry and LEADERS must do what is necessary to protect all parties involved from debilitating losses. At times, this will require immediate action, up to and including termination of high risk accounts. According to this merchant's complaint, there were transactions that did not settle in the month of May. There had been an accumulation of risk development in this merchant's processing history and upon review LEADERS Risk Department made the vital choice to terminate his account. As is stated in the Merchant Processing Agreement, Page 15, Chapter 10.1, Chargebacks and Other Debits, A Chargeback is a Card Transaction that is returned to us by the Card Issuer. As a result, we will debit your Settlement Account or settlement funds for the amount of the Chargeback.'
The merchant also seems to be upset with our company for contract terms that are clearly indicated and in our Merchant Processing Agreement, Pages 23&24, Chapter 22.1-22.9; We may terminate this Agreement immediately or with shorter notice upon an Event of Default as provided under Section 22.1.1 of this Agreement.'
We at LEADERS regret that the merchant feels that our service was less than satisfactory. Under the circumstances we followed standard industry practices. Once again, LEADERS would like to apologize to this merchant for the misunderstanding and we would like to wish him well in all future endeavors.

Not only did they try to take $1,000 from my bank account, but now they are holding on to a few days worth of our transactions. This means this company has cost us over $3,000 in damages. This company is a complete joke. They have expensive rates as opposed to every other merchant service company out there and have horrible customer service.

The ended the contract, and are still trying to charge us. If they want us to pay for anything they will have to contact us via mail and accept a $35 administrative fee. Going straight for our bank accounts is completely illegal and we will dispute every attempt. If it continues we will be hiring a lawyer to give us guidance on how to proceed with these jokers.