Here are the details of how United Payment System ripped us off.
We processed a credit card charge for $8400.00 from one of our customers, AT&T. The transaction seemed normal and we received our authorization code.
UPS, United Payment Services, called us and asked for more information which consisted of a copy of the swiped card, an invoice, copy of the signed charge card receipt. We had not swiped the card but rather entered it manually. We provided UPS with all of the other items.
Risk Management, Cory, called us and said that they were not going to release the funds to us, even though VISA had approved the charge, and that we had to issue a refund to the customer. I asked to speak to a supervisor.
I received a call back from Chris, VP of Risk Management, he confirmed that he would not release the funds to us because the charge amount was much higher than our normal transaction. He said that it was their policy and his decision was final. I asked him if we would have to pay the discount fee and he said he would look into it. This was the middle of May. I have placed three calls to Chris and he has not returned any of them.
Here is what we were charged for the $8400.00 transaction.
Transaction Fee = $. 25
Discout Fee, 2.3% = 193.20
Non-Qualified Interchange Fee = $91.56 (wE DID NOT SWIPE THE CARD)
Transaction Fee to refund the $8400.00 = $. 25
Total amount that we were charged = $295.26
How can UPS charge us this amount when it was their decision to not release the funds. I also lost the profit from the $8400.00 sale that I lost.
What can I do??? What recourse do I have???
Http://www.UnitedPaymentServices.com
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