Clover, First Data, Merchant Processing Services, Credit Risk Management Daina Stephenson Refusing to release funds Fort Lauderdale Florida

My agency signed up for Clover Credit Card Processing. My agency does not normally deal with Clients that want to pay by Credit Cards. My new customer requested that we accept credit card for payment. My customer requested that we charge his business card to remit the invoice amount.

The business card has a $1,000 amount limit per day. We charged this card until the balance was satisfied. While this can appear to look fraugulent, the necessary steps to confirm authorization was not taken with the card holder. Our agency received an email requesting company and client information to be investigated. They requested three months of our bank statement, invoices, and other non-related items. Our agency sent the thre months bank statement (reluctantly) to them. 

After five days, I contacted the Merchant Services and they replied that there would be no release of funds at that time. 

Our agency statement was showing that seven processing fees in the amount of $35.10 each (5 times) was being pulled from my agency accouint. I received an email that they were unable to pull additional funds from the account for processing. I called the number on the email and explained my concernt that we were being charged for processing funds that were not being relased. The caller set a phone appointment for the following day.

After the call, I received a call from another unsatisfied Clover Client named "Ricky"

The next day, I received a call from Merchant Services Security. I explained my concerns and the caller stated that she was not comfortable releasing the funds. I explained that I didn't care about her feeling if she was confortable or not. The caller stated that she would not release the funds to my account.

After several days, my agency received a letter that was delivered byFedex stating that they were terminating the agreement.

Because of the actions from First Data, I have accrued merchant fees, overdraft fees, loss of employees, loss general liability insurance and other issues.

Something needs to be done about this activity and their feelings.