Complaint / Review
Capital Funds Tech
Credit card fraud for merchants / check cashing / bill payments

I am a Hispanic small merchant located in Oakland, California. I currently cash checks, and was approached by Jose Valencia - an agent for Capital Funds Tech, LLC.

Valencia, offered a "whole" package for my company - credit card processing, bill payments, and check cashing verification through Capital Funds.

Here, Valencia offered us literature about his company and how good it works by providing "verbal" examples. For instance, Valencia would tell stories of how the check cashing companies are not up to date with his company and how much money we can save by using his credit card processing.

Valencia even called his boss, and told us that they can give us a loan for over $100,000.00 to help us remodel and cash checks.

Valencia provided literature about the companies that work with Capital Funds and contracts. These companies are North American Bancard, IPP, and Echeck solutions.

Here, I looked up the company - Capital Funds, verified it through there web site as well as the other companies, and found them to be legit; however, not Jose Valencia.

I Called Capital Funds several times, left messages, and at one point the phone numbers no longer worked. Even Valencia's cell phone number - 408.279.1135 no longer worked.

Then, on a Friday, Valencia showed up with a credit card terminal, and a contract claiming that there Dallas office was robbed and he had to have my information in order to demonstrate that his products are legit.

Here, both myself and Valencia signed the contracts and he started to install the credit card terminal.By Monday, Valencia showed up and continued to re-install the unit. He left an hour later, and has not showed up.

I tried calling him and Capital Funds, which all the numbers were disconected. I called the credit card company North American, and they did not know of him or his company.

I made a fraud report, cancelled the agreement with North American. I called both IPP - which does payment processing, and my contract was never received, and Echeck Solutions - the check verification company agreed as well that they never heard of Capital Funds.

I researched online, and found this site - complaint, and found Capital Funds.

Here, I have been a victim because I filled out the paper work, gave Capital Funds my bank info and personal info. I have cancelled the companies listed, and will now make a police report.

Even the sales rep Maria Felix, who was mentioned earlier in another complaint is on the literature that I filled out.