Global Payments Inc globalpay Sudden withdrawal of $19,450 from business bank account and not paying back Nationwide

We are a retail store based in New York downtown and we processed 4 invoices through globalpay from our client vendor, dated May 30 2014 ($4,895), June 04 2014 ($4,950), July 04 2014 ($4,800 and $4,850). Without notice, after almost 2 months, global pay withdrew all the money (totalling $19,495) on July 9 2014. Upon calling, they reasoned that we do not have pre-approval of processing over $100. So they requested client's invoices and our own financial statements. We provided the documents promptly and precisely.

Why did globalpay withdraw money after 2 months, when they could have declined the transaction in the first place? Is it legal? After the withdrawal, they have been unclear about when we can get our funds. They have been naming one process after another, delaying the refund. They never return calls and do not answer calls 90% of time. Only way is through scarce emails.

On July 21 (after 12 days since withdrawal), they said they finally approved everything (evidenced in email) and promised to release funds latest by July 23 (within 24 - 48 hours). As of today, July 28, we still have not received any funds nor any courtesy call from globalpay.

We have since had to break up contract with the client, whom we had to withhold inventory, due to his funds being taken by globalpay. The amount of time, severed relationship and stress caused by this incident, can never justify globalpay's actions of withdrawing money from their client's account, which they processed 2 months before and furthermore, their dishonoring of paybacks when all things seem clear in broad daylight.

We have all the records in emails (the only way to communicate with them humanely, but also keeping us at their mercy of replies). We believe no business should be treated like this. We have also warned them many times that if they do not fulfill their promises, we will go ahead with sharing our story online and as many newspapers as we can and furthermore with lawsuit to compensate for our loss. We have not heard anything back, so it is clear that they don't care.