CardService International took $55,000 dollars from our company! This is not an exaggeration, please read below!!!
Cardservice International is a merchant solutions service company based out of Simi Valley, CA that goes through another company called First Data. We run a small internet retail business and we began using CardService International back in July. We ran into nothing but problems with them from the very get-go. After their "advisor" (named Benny) helped us setup our account, they pretty much immediately began holding our money without releasing funds claiming that we were high risk. We proceeded to tell them that it was their "advisor" that set this up for us, but they neglected to do anything to help us.
After several weeks of fighting with them over this, we finally had a "decent" process going for a couple straight months... Until October came around. Without hesitation or warning, they withheld $15,000 and refused to release it to us. After fighting with them for a couple of days, the answer we finally got was, "Based on your high daily transactions, your company is considered high risk." After fighting back and forth, we finally gave up thinking this would never happen again. Boy, were we ever wrong!
March came up and it happened again. This time it was in the amount of $40,000! It is now May, and we have been fighting with them on this since it happened. They claim the we are "high risk" and that they will keep our $55,000 until we choose to stop conducting business with them.
On top of that, they say that they are not going to give us one cent until 6 months after our relationship has been terminated. Half of me thinks that we should quit giving these guys business, but the other half of me is afraid that I will truly never see my money again from these scammers!
We're not talking about $500 or $1,000 here! We are talking about $55,000 dollars that this idiotic company STOLE without hesitation or warning! Our company only has 3 full time employees, so $55,000 is a lot of capital that we lost.
We've contacted several other merchant companies, and according to them this is ridiculous! At most it should be $4,000, not $40,000! It is somewhat normal for merchant service companies to withhold funds at times, but it's usually no more than 1-2% with a notice, not 10% blin-sided!
If anybody has been thinkng about using CardServices International, please re-think your decision!!!