• Report: #448523

Complaint Review: Bankcard USA Merchant Services

  • Submitted: Sun, May 03, 2009
  • Updated: Wed, May 13, 2009

  • Reported By:Washington District of Columbia
Bankcard USA Merchant Services
5701 Lindero CYN. #3 Westlake Village, California U.S.A.

Bankcard USA Merchant Services holding our funds for over 7 mounths! Westlake Village California

*UPDATE Employee: More information needed....

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I am writing as I have encountered a very unpleasant experience in regard to my account with Bankcard USA Merchant Services holding my monies for 7 months.

As a business owner and continued supporter of Bankcard, my company recently obligated to perform a transaction for a business related transaction which involved my client. My client requested to purchase equipment from my company. We are a registered vendor to sell to state, local and fed gov municipality. We submitted a proposal to the vendor, they accepted our proposal. Their choice of payment method was by credit card and we accepted and the transaction began from there. We completed the transaction to our customer, only to find out after several days and the transaction not being processed through our account, we of course became concerned. We than found out that VISA was holding said fundsthey stated that the transaction was to large to complete, however it was not above our credit limit amount. VISA stated that this transaction was larger than any transaction we had ever processed in the past. Bankcard informed us that they would hold our funds, for 18 months, until 2010 (transaction took place in 2008)

I have sense had to take out a loan to pay for the transaction to complete my obligation. I am now obligated to pay both my personal obligation and Bankcard service fee on a monthly basis.

If Bankcard felt it necessary not to honor this transaction than I could have accepted that decision and I would have obligated the funding to another credit company. The monies that I requested to use for this transaction were within my credit limitations. I was informed that since this transaction was larger than my normal transactions they needed to verify the funding process. When Bankcard was unable to verify the transaction they froze the transaction, which included my funds as well.

I have now completed an extensive research on the internet. Per Ms. Sharon Tan who responds to all complaints posted on Bankcard USA's website who states, "Bankcard USA Merchant Services, has the right to hold your funds for a period of 180 days or less".

The date of our original transaction was in 2008 and we have now exceeded the 180 day maximum allotted time to hold funds for this subject matter.

Washington, District of Columbia

This report was posted on Ripoff Report on 05/03/2009 07:24 PM and is a permanent record located here: http://www.ripoffreport.com/reports/bankcard-usa-merchant-services/westlake-village-california-91361/bankcard-usa-merchant-services-holding-our-funds-for-over-7-mounths-westlake-village-cali-448523. 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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Updates & Rebuttals

#1 UPDATE Employee

More information needed....

AUTHOR: Sharon - (U.S.A.)

In reviewing the merchant's complaint, I am unable to look up and verify any information. Please provide me with your business name, address and/or merchant number. This information is needed in order for us to determine if funds can be released or not.

Thank you,
Sharon Tan
BankCard USA
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