First American Payment Systems Scam, rip off, misleading, theft fort worth, Texas
I am the owner of Exotic Aquatics which is a salt water aquarium fish store located in Norwalk CT 203-956-0750. I had recently switched a few months back to a credit card proccessing company called First American Payment Systems. I went with them unfortunately without doing any research on the company and just by what the sales rep was telling me. They offered very low rates. In my business we design, install and maintain aquariums, ponds and other water features. We keep client information like credit card numbers and personal information on file. I had a client that had a bill for over $2000.00 so when the job was done we had manually run his card for the amount that was due. 3 days later the credit card processing company called to tell me that the transaction was under review and they were holding the money until I complied by giving them the card holders name, number and address along with 3 months of my bank statements. I gave them everything they asked for and then 2 more days later I get a call and they said they had spoke with the cardholder and that he agreed and to release the funds to me. They told me along with the cardholder telling me that the call was made and the agreement was fulfilled. Sounds great right?
Well they then proceeded to tell me that they still refuse to release the funds to me without any real reason what so ever. I told them to refund the cardholder his money as well as take me off of the processing through their company. They continued to say they will refund the money to the cardholder within 72 hours and for me to get out of a contract with them that they wanted $499.00. I replied back by saying first you held onto my funds for over a week then refuse to give it to me after speaking with the cardholder causing me to bounce 2 checks in the process because I was originally under the impression that the funds would be available to cover checks that were sent out and you now want me to pay $499.00 to get out of a contract that the sales rep did not explain about in the first place? So I can't do any transactions or run my business and yet you want to charge me for this? This company should be shut down for good and forced to pay restitution and penalties. Companies like this are the reasons why other peoples credit get ruined as well as basically ripping them off in the process. This company has also done this to other business'.
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