ED Magedson – Founder
Complete Merchant Solutions, LLC815 West University Parkway Orem, Utah USA
Complete Merchant Solutions, LLC, CMS Fraudulently Holding Funds From Merchant Orem Utah
CMS held back a portion of our funds because they had classified us as high risk. They promised to release these funds after 6 months, but our salesman told us he could get it released even sooner. We eventually had to close the account. We went out of business partially due to not having our full funds as promised by our salesman.
They would not release our funds at the 6 month mark and we were told it would have to be 90 days from account closing. So we waited. At the 90 day mark, they told us a different story. They said it would be reviewed the following month and we would get at least a partial release of our funds because our numbers looked good.
When it came time to expect the release, we called them and they they told us it would have to be 90 days from the last chargeback. Our bank account was still in good standing and we were keeping our own reserve to cover chargebacks, but they said they didn't care because our account with them was closed.
Finally, after waiting the last set of 90 days (it had now been 150 days since we closed the account), they said they would release the funds, but only a part of it, and to expect a check. We waited for the check. When it didn't arrive, we contacted them and were told that they still needed to get bank approval. They also said that we would have to wait another 90 days for the rest of the funds to be released.
This goose chase has been ridiculous and constitutes poor business ethics on the part of CMS. We are unable to contact anyone in the company who can do anything for us, and are being lied to with every communication. We are now concerned we will never see our money.
This report was posted on Ripoff Report on 02/13/2014 12:02 PM and is a permanent record located here: http://www.ripoffreport.com/reports/complete-merchant-solutions-llc/orem-utah-84058/complete-merchant-solutions-llc-cms-fraudulently-holding-funds-from-merchant-orem-utah-1123348. 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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