All we can say is that lenders merchant services are a bunch of thieves! They will instantly approve you for the sole reason of stealing customers money. We signed up with Lenders and in less than 1 day they purposely held funds. We were setup for $100 per ticket transaction and $10k worth of monthly volume.
They called us up and approved us rightaway. So we setup the gateway and did 2 transactions for $50 each, which was well within our projected sales amounts. We got extremely suspecious of this company yesterday, so we removed them from our online store and went back to our other processor. We had a feeling that theives would do something like this and they did. We called them 7 am in the morning to make sure we were going to get paid today and they said everything was ok.
Then their assxxxhole risk management department called us and stated they are holding the funds and want us to ship the products out prior to being paid for the item. We told them that we were under no legal obligation to ship anything out because we did not get paid which was the truth. They were contracted to process the money from the customer and place it into our accounts for a fee. They didnt do it breach of contract.
Then we got transfered to merchant services of lenders and they even said there was absoltely no reason for the risk management department to hold the funds. We knew this a-holes would do something like this and thats what they did. So that morning the second we saw no funds being deposited and our bank account being authorized (they did this so they can start debiting it purposely with bs fees) we switched our login ID's from our online store to our old processor that we still have.
In all honesty, DO NOT USE LENDERS MERCHANT SERVICES, they are nothing but a bunch of scam artists. I think anything in the LA area that processes cards are scammers!
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