Complaint Review: North American Bancard - Nationwide
North American Bancard NAB High Risk Companies READ! Holds Funs For 180 Days?? !SCAM! Troy Nationwide
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If you are a high risk company, looking for a solid merchant, then NAB is NOT for you! For 3 weeks my company (we sell auto warranties) was encouraged to keep processing payments and even when NAB asked for receipt of sale (which we sent) and informed us that our account was under review, they still encouraged us to process. They said our funds we ran, which was a total of about $4k (that's a lot for a small company) would be released after the review period. 2-3 days.. We said no problem.
NAB not only froze our funds for 180 days but to top it all off they will NOT let us refund ANY our clients we enrolled using NAB. So refunding and re-processing our clients under a different merchant isn't even an option. THIS IS A SCAM!
We understand freezing funds to verify, or even closing an account.. But first of all, closing an account over a chargeback that was NEVER recorded as a chargeback isn't right. Second, holding 100% of a companies funds for 180 is over the top excessive.. If you were worried about chargebacks coming in then hold a portion of the money for liability risk but to hold 100% of any companies money, when there was NO chargeback to begin with (and your explanation is that you are worried for future chargebacks) is unheard of!
If you are a high risk company, NAB will shut you down and hold your funds hostage! I give this company an F for customer service and an F for being lied to. I feel mislead and taken advantage of!
READ THE COMMENT AT THE BOTTOM OF THE YOUTUBE VIDEO!! THAT'S NOT EVEN ME!
This report was posted on Ripoff Report on 01/22/2015 09:42 AM and is a permanent record located here: https://www.ripoffreport.com/reports/north-american-bancard/nationwide/north-american-bancard-nab-high-risk-companies-read-holds-funs-for-180-days-scam-tro-1203475. 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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