Jp Morgan Merchant Data Sytems
Processed credit card sales, never paid or deposited funds, avoided communication

After monthly fee of $84.76 was not paid due to nsf, company held three months of credit card sales;even though fees were paid later that month by electronic withdrawl. After 3 months of holding 3000.00 of sales no letter or correspondence was sent to explain why funds were not being deposited. After repeated attempts to speak with representative Juan Carlos... And Jennifer they decided that a holding account would be necessary even though this is not cited in the contract. Afterwards they decided that they could only release 1000.00of the held funds so they could be assured payment of their fees. Once I agreed, they never responded to any phone calls or correspondence sent via certified mail.in result I sent correspondence stating I wished to stop doing business with them. After this merchant account was closed, and no payments from them made. I have since gone out of business because my company couldnt recover from the loss of 3 months credit card sales. They did however inform me that because I closed my account early I had to pay 36months of fees and after 6months of holding money for charge backsI would receive 300.00 from the 3000.00. I am currently pursuing a lawsuit.

Company: Jp Morgan Merchant Data Sytems
Country: USA
State: Florida
City: Miami Beach
Address: 1688 Meridian Ave Suite #802
Phone: 3055385050

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