After more than 4 years of using their service for credit card processing 2checkout last Saturday without notice or warning terminated their service with us by email stating there had been too many charge-backs. When I contacted two of their reps but phone they tried to repeat this reason until I pointed out that we had only one charge-back in the last 10 months at which point they acknowledged that was not the reason but that they could not tell me why! When I pressed for more information they simply said there was nothing they could do or say and that they had done this to hundreds of customers. And now they are telling me that the money that is in my account that normally would be paid out this week will be held for 90 days! This is causing me unbelievable problems with me business including lost sales daily because I have no credit card billing option on my website while I scramble to find a new provider. I would like to know if there is a banking regulator I can contact (please let me know if you know one) that I can report this action to as it seems to me to be bordering on the illegal but at the least of course outrageous and unprofessional.
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