Innovative Merchant Solutions And Intuit Company Where is my $62,0000? Calabasas California

I could not agree more with you, I filed a complaint already but want to make it clear to anyone who reads these.. I have used them for 10 years and no problem.. suddenly in Aug. 2009 it started to me, they stopped funding our bank account because of "chargebacks" (which we have won) they will not give us a reason why besides calling it a "security deposit" first it was $6000.00 but they are holding over $10,000.00 and like you they have taken there "fee's" out of our account. I have called and called and left messages for them, I have been dealing with Freddie Monjoy, I think that is the correct last name, I plan on posting everyones names that I talk to at Innovative Merchant Solutions on every forum board I go to. It is wrong for what they are doing to long time customers of there's and I am not going to take it.

I made a report as well.

I had almost the exact same experience with this company and it cost me dearly.

Stay away from them. There are reputable merchant processing companies out there that dont play these games.

The amount of money was for far less than yours. I cant even imagine that amount.

This company is obviously having money problems and has to hold money to float their business.

I had a company for 15 years before I switched to these people and I processed transactions in the 10's of thousands and had the money in 24 hours like clockwork.

The fact that you get nothing but a run around and obvious BS answers when you call shows they are trying to cover their behinds.

Any reputable company would explain the real situation and give you real time tables.

If I were in your position, even if they said to me "Hey sorry. We used your $62,000 for other things and we;re waiting for more money so we can give it to you"

Heck thats bad news but its better than them lying about some bogus "investigation"

I made a report as well.

I had almost the exact same experience with this company and it cost me dearly.

Stay away from them. There are reputable merchant processing companies out there that dont play these games.

The amount of money was for far less than yours. I cant even imagine that amount.

This company is obviously having money problems and has to hold money to float their business.

I had a company for 15 years before I switched to these people and I processed transactions in the 10's of thousands and had the money in 24 hours like clockwork.

The fact that you get nothing but a run around and obvious BS answers when you call shows they are trying to cover their behinds.

Any reputable company would explain the real situation and give you real time tables.

If I were in your position, even if they said to me "Hey sorry. We used your $62,000 for other things and we;re waiting for more money so we can give it to you"

Heck thats bad news but its better than them lying about some bogus "investigation"

I made a report as well.

I had almost the exact same experience with this company and it cost me dearly.

Stay away from them. There are reputable merchant processing companies out there that dont play these games.

The amount of money was for far less than yours. I cant even imagine that amount.

This company is obviously having money problems and has to hold money to float their business.

I had a company for 15 years before I switched to these people and I processed transactions in the 10's of thousands and had the money in 24 hours like clockwork.

The fact that you get nothing but a run around and obvious BS answers when you call shows they are trying to cover their behinds.

Any reputable company would explain the real situation and give you real time tables.

If I were in your position, even if they said to me "Hey sorry. We used your $62,000 for other things and we;re waiting for more money so we can give it to you"

Heck thats bad news but its better than them lying about some bogus "investigation"

I made a report as well.

I had almost the exact same experience with this company and it cost me dearly.

Stay away from them. There are reputable merchant processing companies out there that dont play these games.

The amount of money was for far less than yours. I cant even imagine that amount.

This company is obviously having money problems and has to hold money to float their business.

I had a company for 15 years before I switched to these people and I processed transactions in the 10's of thousands and had the money in 24 hours like clockwork.

The fact that you get nothing but a run around and obvious BS answers when you call shows they are trying to cover their behinds.

Any reputable company would explain the real situation and give you real time tables.

If I were in your position, even if they said to me "Hey sorry. We used your $62,000 for other things and we;re waiting for more money so we can give it to you"

Heck thats bad news but its better than them lying about some bogus "investigation"

It is important to note that just because a customer does not understand clearly what is being done does not make it contrary to the contract or illegal in any way. When an account is approved for credit card processing it is within the limits (average ticket and monthly volume) that are provided by the merchant. The account, if approved, is given what is somewhat like a "credit limit", similar to a credit card.

When the customer exceeds this "credit limit" another review of the merchant's account must be completed to determine if an extension of that credit can be made. Sometimes this only requires the review of an individual transaction of a very large amount. This is done per the bank's requirements as well as the card associations. If the account cannot receive a limit increase, sometimes a deposit will be required so that credit card processing may continue and to protect against loss due to chargebacks or other financial hardships that may occur. And indeed, the Merchant Agreement is very clear on these points and it is the merchant's responsibility to be aware of this contract as he/she has accepted and agreed to the terms within the contract.

After emailing the 5 people who I had been leaving messages for the link to this report and the transcript of our conversations, I finally was contacted via email this morning telling me that the funds were to be released on October 2nd, (yesterday), I checked my online account and the funds were nowhere to be found. I called my bank and they had not received it yet. I'll check back at the end of business today. Hopefully they are telling the truth this time.

The JELD-WEN Window Planning Center of Tulsa; Merchant Account # 5247710000105676
Innovative Merchant Services Customer Support; 1-800-558-9558

RISK DEPARTMENT:
09/17/08
Angela called me and asked me to fax up invoice for goods. I did that and also sent up the contract of goods purchased with the customer's signature.

09/26/08
I still have not recieved payment, soI called to ask what was going on with the release of funds; (spoke with Sheree Massberg). I was told that they were trying to verify purchase with the customer's card issuer; (CitiBank). I called my customer and told him that I was having problems getting the money from his card issuer; he called CitiBank and was assured that the charge would go through and get paid. He then emailed me the employee and the employee number of the person at CitiBank whom he spoke to; (Anne Punzalan employee # VFR0300). I emailed this information up to Sheree Massberg hoping it would help.

09/29/08
Spoke with John McClain; extension 61196.
Told me that as soon as Martin Hernandez, (Supervisor; EXT 61024), got back from lunch he would talk to him about my account. Told me that it should not have taken this long to get my funds released. I never recieved the call back.

09/30/08
Called and left message for John McClain; never receieved call back.

10/01/2008
I spoke with Shane Ramcharitar; (1-818-436-7800; extension 61191). Needs me to re-send all the information, (invoices, contracts, etc..), again and then will release the funds today. (858) 408-2807 FAX

10/02/2008
Funds are not in my account this morning. Called again and spoke with Andrea. She told me that Elenor released the funds today. I asked to speak to a manager. Andrea transferred me to a Jennifer Maddux at Extension 68167. Left her a message to call me; never recieved the phone call.

10/03/08
Funds are not in my account this morning.