Complaint Review: Rbs Lynk - Rbs World Pay
Though my business has had only a handful of chargebacks, (customer disputed charges), while processing well over 1 million dollars in transactions in that 3 year period. Only 2 fraudulent purchases resulting in chargebacks.
Upon receipt of the NEW reserve fund policy, I phoned RBS account executive Cheryl A. Brown, asked about the change in terms of merchant agreement, requiring a "security deposit" and was informed this decision was final.
I also had the right to JUST SAY NO... Thanks! I promptly found another credit card processing company, (with substantial savings to me, by the way). I terminated my services with RBS WorldPay on 11/18/2009. Even though I ceased doing business with RBS, I was informed they would hold MY MONEY, just under $2500 for 3 months, with no interest... What a RIPOFF!
In November 2009, I filed in small claims court in the state of Florida. Due to litigation, I have been in contact with RBS lawyer Douglas Sandberg. Finally 3 months from the date I terminated business with RBS, I received the release requiring me to: Sign send back to them, then MY MONEY would be returned!
To this date, RBS WorldPay, Inc is still charging fees, debiting one of my checking accounts, and created an overdraft. Now my bank, Citizens is charging service charge fees, due to the overdraft! Ironically Citizens Bank, is a subsidiary of Royal Bank of Scotland, which is the parent company to RBS WorldPay, Inc!!!
It's bad enough the banks received TARP funds, which all taxpayers are footing the bill, at least they will be paying interest. Yet this company decided to screw me, (and maybe you), the small business owner, for an INTEREST FREE LOAN!
Best advise for small business, JUST SAY NO to RBS WORLDPAY:
1. DO NOT SIGN any contracts with any credit card processor, as the fine print allows them to do anything short of pimping your first born. You can find processors, that don't require contracts, as I have now
2. DO NOT do business with RBS LYNK, RBS Worldpay a division of Royal Bank of Scotland Group, under Citizens Financial Group, Inc dba RBS Citizens, N.A. and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont.
They may do the same to your business...
This report was posted on Ripoff Report on 03/09/2010 04:52 PM and is a permanent record located here: http://www.ripoffreport.com/reports/rbs-lynk-rbs-world-pay/atlanta-georgia-30350/rbs-lynk-rbs-world-pay-rbs-lynk-rbs-worldpay-takes-2500-from-small-business-atlanta-g-579469. 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
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