Msi Merchant Service International
Msi has taken funds from customers credit card and refuse to remitt the funds to my business account

Unfortunatley, i signed up with msi because one of its representative informed me that if my business showed $2500 in sales a month, i could qualift for a business loan in the future. Being a new small business owner, i was concerned about the total lease equaling approximately $ 5000 after the contract was completed. My respresentative assured me that obtaining the future business loan (appx $100,000) was worth the small investment of $5000. The first couple of debit transaction went through fine. About the 6th debit tranaction, the company put a hold on my account for $400. Because the $400 was not deposited into my business account, the account became negative and i received NSF charges. The company informed me to send invoices and they would inform me when the hold would be released. That was about two months ago and i still can not get a response, why the issue has not been resolved. I have called a thousand times, and has been re-directed to risk management. I have left numerous messages on risk management answering machine and 'NO ONE' and i will emphaticaly emphasize, "NO ONE' returns my telephone calls. I asked to speak to the president of the company and i am continualy told, the only person i can speak to is a person in risk management. Even more insane is the question what company am i dealing with here. The contract i signed has MSI as the letterhead. A bill that i received associated with the company has CHARGEANYWHERE as the letterhead. To add insult to injury, i am utterly applaud to find out that the machine cost approximately $300 to $400 and i have a long term contract for $5000.inaddition to all of this, my job decreased my hours and at the time i could not even add money to the already existing negative account, due to MSI holding my business funds. I called MSI and infomed them, that i didn't have the money for their basic service but expected to have the money in about two weeks. The very next day, every day, and sometimes 2-3 times a day, i received harrassing telephones call from them. Every mornning, every afternoon, and every evening someone called my cell phone. Disgusted with the $5000 lease agreement, the continuous holding of funds (which i still have not received), and the daily harassing phone calls, i closed the checking account linked with their company. My next step, is to seek cancelation with the contract. If anyone has been able to cancel their contract, please let me know what i need to do. As a newbie to the small business community, i thought i was doing something good for my business with this company, but i feel that i have been scamed.

Company: Msi Merchant Service International
Country: USA
State: New Jersey
City: New Providence
Address: 890 Mountain Avenue
Phone: 4048622004

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