Report: #1431748

Complaint Review: North American Bancard - Troy Nationwide

  • Submitted:
  • Updated:
  • Reported By: Mitch — Bentonville Arkansas United States
  • North American Bancard 250 Stephenson Hwy Nationwide Vatican City

North American Bancard Pretty sure some of there business practice is criminal ! Troy

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My wife and I joined North American Bancard because they were associated with a lending group for small business. Please keep in mind that I have been in this business with merchant processing for over 13 years and the company was processing an additional 5 years before I bought it. In addition, my wife and I have had other small business which processed with no issues for 30 years.

Our issue starts during the month of December of 2017. We had a customer who used her card to make a purchase. After talking to her children that evening, she realized that the kids had bought the same item for there father. This was a large ticket item of about $ 2,600.00. The following day, the customer requested a refund which I was more than happy to do as they were great customers. My bank balance was just a small amount short to cover the credit card return and the item was processed back to NAB. NAB at that point put my account on hold and started holding every depoit that I sent through there processing. The following day, there was plenty enough money to cover the $ 2,600.00 return owed to NAB without involving my bank or any one else. NAB was in posession pf plenty of funds to cover themselves. NAB did not handle the transaction that way. They continued to hold all of my depostis for an additional two and one half weeks allowing them to hold all deposits through the entire month of December and one full week into the month of January. We had deposited enough with NAB to cover them for roughly $ 8,000.00 or over three times the amount owed to them.

Around the 6th of January, NAB took the amout that they deturmined we owed them and released the rest of the fund to our account. We were all paoid.

A month and a half later, well into Febuary; NAB started indicating we still owed them money. I attempted to porve to them were we were clear and I owed them nothing. They realseased our account apperatly feeling they were all paid. Regardless, after one and a half months of being all paid and three weeks of them holding all of our deposits, NAB took more money from my bank account. Now, we have over paid in a huge way.

I want to add two additinal areas of information which seams to make this situation even more wrong. First, while NAB had my bank account locked up and was holding all of my funds, they were also reaching out to my local bank trying to pull funds on an account which they NAB had locked up and was not allowing any money to pass through. This process was costing our business large sums of money with our local bank. In other words, NAB was attempting to double dip so to speak to clear there position. FOr heavens sake, a month and a week did not allow them enough time to figure this out. They were protected by a multiplyer of almost 3.5 times.

Another odd process that seams to make absolutly no sense, every time they attempt to say that we owe them more money, They lock our bank portal down at NAB not allowing access to any information. CRIMINAL as H#$L. really !! Are you trying tell me that anytime someone is a little short at the bank, the bank can leagelly shut there information down and restrict access. Your insurance company starts denying access to your information the minute they are required to start paying claims. Even your federal and state govrements do not perticpate in such an odd business process.. I don't even know what to think.

I understand that my humble opention is going to be diffrent from any information that NAB provides. With that said, I can almost see an atterny making a full career from this group at some point with the class action process that might manifest its self. When you look the the reviews on this group, there is no way you are not going to find issues.

 Mitch L. Shell





This report was posted on Ripoff Report on 02/28/2018 12:59 PM and is a permanent record located here: https://www.ripoffreport.com/reports/north-american-bancard/nationwide/north-american-bancard-pretty-sure-some-of-there-business-practice-is-criminal-troy-1431748. 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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