• Report: #332316
Complaint Review:

ECommerce Exchange

  • Submitted: Tue, May 13, 2008
  • Updated: Tue, May 13, 2008

  • Reported By:Chicago Illinois
ECommerce Exchange
26707 West Agoura Road Calabasas, California U.S.A.

ECommerce Exchange Holds Our Money Even After We Have Paid For and Shipped Items and Causes Us Overdraft Fees Calabasas California

REBUTTAL BOX™ | Respond to this Report! | Consumer Comment

What's this?
Corporate Advocacy Program

Show customers why they should trust your business over your competitors...

What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

Set the record straight:
Arbitration Program

SEO Reputation Management at its best!

The nature of our business, edimestore is retail sales of electronics through drop shipping sources. Basically someone buys something, it gets processed by ecommerce exchange, we purchase the item from our supplier after the transaction settles and then we ship the item. Usually the next day or two after a transaction settles we have our money transfered to our bank account.

On April 25, 2008 a company based in Texas purchased a Cisco networking switch from us for $2936 in total. As usual, on the 26th ecommerce exchange processed the transaction and it settled successfully. Because of this we purchased the switch from our supplier and shipped it to the customer. We made a profit of about $200 on the sale.

Unknown to me, our money was never transferred into our bank account... I checked out Bank of America checking balance on 5/8/2008 to see if a refund had ever been processed for a customer and I discovered we were about $900 overdrawn. We made a sale of $550 that day and the transaction settled. Only after looking over our statement did I realize ecommerce exchange had never deposited our money.

I called ecommerce exchange on Friday 5/9/2008 and was transfered to the risk department who told me that because my average transaction size was about $300, the funds were on hold until I could produce an invoice. I promptly faxed the invoice 2 times within 1 hour of speaking to a person named Anthony at ecommerce exchange.

Now it is Wednesday 5/14/2008 and we have yet to receive the $2936 or the $550 from 5/8/2008 that settled. Our Bank account is now $1400 overdrawn, and we have lost double our $200 profit on the sale in the form of about $400 in overdraft fees.

eCommerce Exchange has not called me since Friday to state that there was any issue.

I do not have the funds to cover the overdraft amount as all my money is tied up for the purchase of our new home, and to cover costs of our second Child which is due in the next month.

I left a voicemail with the person I spoke to on Friday named Anthony and told him we needed all of our money which is being held tommorrow, and that we demand that they pay our overdraft fees.

What are we to do? Will we ever get our money? We tried to explain to Bank Of America our issues and they refused to waive any overdraft fees and demanded we bring our account up to date. I am unable to do it and because of ecommerce Exchange I fear we may be out of business soon.


Chicago, Illinois

This report was posted on Ripoff Report on 05/13/2008 10:05 PM and is a permanent record located here: http://www.ripoffreport.com/reports/ecommerce-exchange/calabasas-california-91302/ecommerce-exchange-holds-our-money-even-after-we-have-paid-for-and-shipped-items-and-cause-332316. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

Click Here to read other Ripoff Reports on ECommerce Exchange

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?