I recently opened a merchant account with Merchant Warehouse. Who actually clears through First Data Merchant SErvices. Meaning First Data are the ones that really process the credit cards and they hold the weight. First Data processes for over half if not higher for companies like Merchant Warehouse.
In my month of processing I had "one" chargeback, and as a result my account was closed and my money stolen or "froze". Customer service rep in the "risk" department named "tim" (don't believe he has a last name) asked me to fax over some invoices from some sales. I did better I contacted the customer who filed the chargeback to find out it was a "mistake" I faxed tim the email and 5 other purchase receipts like he asked and it has been two days and havent heard back from him nor is anyone at first data that can actually help me answer the phone.
So in the meantime ive lost thousands in sales, they are holding thousands of dollars of my money and ive wasted hours on the phone trying to clear this up. No one at merchant warehouse can help me because they do not actually process the cards.
After doing some research i found numerous lawsuits and some facts on why First Data waits for a small slip up to hold your money. It is a system they have to keep as much money of yours as possible in a reserve especially if you own an internet based business. They hold Millions of internet based business money in "reserve" which they collect intrest on. First Data is a Scam worse than Enron and thier executives will soon be locked up also. I want my money. I will keep finding reports on the net and keep posting negative reports about them until my money is released.
DO NOT do business with any credit card processors that clear through FIRST DATA. Make sure you ask who they clear through because if you own a website they will lock up your money. Period. Ive spoken with lawers who are suing them and they are working hard to shut First Data down so they stop stealing from people.
You will not get any customer service with first data and if you do get a hold of someone they will not know what they are doing or are just playing dumb. The great thing is that owning websites and having very savy programmers we can expose First Data and we will do so and keep digging until our money is returned. So far I am 5k in the hole and growing because of them. And "tim" who is not doing his job.
0 comments