I had a similar bad experience with Innovative Merchant Solutions and agree something must be done! According to the numerous complaints also on, this is how they operate.
I signed up for their services in Jan. 08 through the people that make my postcardscalled merchantsmadeeasy.com. The sales rep responded with answers to my two questions regarding the service. 1) He affirmed that $10.95 a month was my only charge for the service along with the percentage - and that 2) I would be billed by mail as opposed to the money taken directly out of the account, which I liked. Total Nonsense, I made my decision on these answers and they were false. When I later complained to Innovative Merchant Solutions along with other issues, I was told, "It was not his fault, the sales reps don't know all the details." Incredible! The sales rep did not mention to me anything about the handbook, how to acquire one or any specific charges or regulations relating to it.
The real problems started when I tried to process my first transaction. I was contacted by the Risk Department telling me it would not be processed because the amount was too high, something else I was not informed about. I was told to make adjustments to my account (increase the avg ticket sales) and try again. My customer paid by check and I did not try to process again. 2 weeks later my customer complained about a charge on their credit card. I apologized and called the bank to release the authorization. It was not an authorization, Innovative Merchant Solutions had processed the transaction taking the money from the credit card and keeping it in their possession, while rejecting my transaction and not putting the money into my account. I called to complain and they told me I had to process a return to reimburse the customer. I couldn't believe I was supposed to run a return for something they rejected! I ran a return immediately so that the customer could have their money back, It took another 12 days for them to receive it and I was charged $194.52 for the process/charge. I called my bank and they reversed the charges because they were unauthorized. At which point Innovative Merchant Solutions closed my account and charged me a $295.00 termination fee. After terminating my account they continued to take $10.95 out of my account for two months. They have now sent me a letter stating I owe over $600.00 and threatening litigation and all expenses included with it within 10 days. All of this nonsense and they have never processed one credit card charge for me! Their operation is a complete rip-off and not consumer friendly business! Also to mention, Customer service reps are Hostile and Aggressive!
I would like to know how to get on board for the Class Action Lawsuit, This way of business has to be stopped!
They are numerous other complaints from consumers online also interested in stopping them.
I am also filing a complaint online with the BBB, they have a grading system and I am sure if they receive everyone's complaint there as well their rating will decrease. I have also heard the FTC is effective.
Chelseaeast hampton, New York U.S.A.
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