First data screws small companies when they have enough sales built up to freeze your money and hold it for 6 months, just like Paypal. They freeze your money and tell you that you are high risk and you have some chargebacks. Then they close your account and treat you like a criminal. You have no rights to appeal and find yourself out of business and in the street without anyone to help you. The attorney generals don't care and the media is not interested. They are committing fraud by the inducement because they use no qualifications to get you set up and going but the minute you generate some revenue they jump on you and freeze your account.
The problem with the way First Data behaves is that most small business cannot fund the delivery of orders with their capital while the sales revenue is being held and wait 6 months for First Data to release the funds. First Data also refuses to refund the customers right away causing the small business to incur high chargeback fees which First Data will deduct against the funds on hold. The merchant wants to deliver their orders however are unable to do so because of this facist regime which has the power over small business. Our government will bail them out when in trouble with our hard earned money while they screw you and celebrate their win.
Fraud by the inducement: the act of misleading a party as to the facts upon which they will base their decision to act.
First Data will lure you in either thru Card Service International, First Data directly or their other independent agencies by promising you all the bells and whisles. But what they give you is mirrors and smoke.
Here is how: You file out and send a simple online form. They immediately approve you conditionally. The next day they are calling you with your Account Number and MID and TID. Now that you are ready to go you start advertising and generate sales. You start filling orders and making necessary arrangements to expand your potential so you can grow. A short time later you get a surprise call from the Risk Department who all of a sudden freezes your account and asks for information to be faxed to them. You comply and about a week later they unfreeze your account.
While they play their initial game they deduct all their fees from the sales and pull the monies out of your account. You are now funding their fees but not receiving any sales revenue. Now that you feel you have gotten thru their risk management scrutiny you go about your business spending money to generate sales and filling orders.
Maybe a month goes by and you have a couple of chargebacks. (totally uncontrollable as the card issuing banks don't send a retrieval request as in the past, they just chargeback your account causing fees to be generated by the bank and processors). Now all of a sudden you get another call by risk management telling you violated their policies and they want to do a thorough investigation. Get ready to send invoices, sales orders, tracking information, financial statements and bank statements.
Further, they want to track your latest order which you just received either the day before which they know you have not shipped. Now they criticise why you did not ship the order. You tell them I have 100 shipped orders with proof of delivery for the month and can show you those. They tell you to never mind.
So now they will again hold your money for one week while you sweat it out and then they drop the bomb." We are closing your account immediately." Find another processor. Also, we will not refund your customers the money we are holding. You must ship the orders or suffer the chargeback fees and get TMF on Visa and MC if you don't do exactly what we say.
My friends you are now a family member of the SCREWED CLUB.
Paypal uses the same fraudulant scheme as First Data. They want to hold your money and earn interest for 6 months.
Fraud: deliberate deception made for personal gain or to damage another individual.
These are industry professionals using theft by deception or larceny by trick by making gross misrepresentations. Their fraud involves the act of intentionally make false representation of material fact, with the intent to deceive, which is reasonably relied upon by another person to that person's detriment.
Why does First Data approve an application without thorough evaluation BEFORE they give you the credit line? Would a bank give you $100,000 loan without evaluating your paperwork first?
Why, because First Data knows in advance that they have both no reasonable basis to perform as promised and that future performance was know to be false at the time it was made.
One can get PUNITIVE DAMAGES if they can prove Fraud and I think I can.
I will sue First Data as a pro se litigant plaintiff to avoid attorney fees until a law firm which which sees the potential wants to step in and make a class action.
Fragrance
miami, Florida
U.S.A.
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