FinishSmith Furniture Refinishing and Upholstery

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID 12671004, and find that this resolution is satisfactory to me.
Please see my attached letter showing all the erroneous charges since our Account Closure Form request was submitted on 10/24/16.
Regards,
D[redacted]

Complaint: 11126779
I am rejecting this response because:  The company has yet to correct their mistakes and have now cause many of my customers to question our credit card charges in addition to credit card processing has now removed funds that were not charged in a timely manner from our account.  I want out of my contract due to them not performing and depositing funds into our account.  IF YOU ARE A BUSINESS OWNER.........DO NOT USE THIS COMPANY YOU ARE LOOKING AT A YEAR OF HEADACHES.  THEY WILL COST YOU A TON OF TIME AND MONEY!!!!!!!!!!!
Regards,
G[redacted]

We regret that this merchant did not fully understand all of the terms of the agreement.  The customer contacted our company, and was then connected to an account representative who went over the rates and fees of our merchantservices.  The customer then...

provided their personal and proprietary information to the representative to prefill an electronic application and begin the approval/activation process.  The application was sent over for the customer to review at which point they are able to do an "e-signature" with their mouse and they then answer security questions based on their personal history pulled from public records. The full agreement was available to print out via PDF.  As a courtesy, we have requested an account closure and waiver on the early termination fee.

According to our records, the merchant account in question, which had been placed on a hold due to review of transactions, consistent with our policies and procedures, and in accordance with the commercial agreement between the parties. As of the date of this Response, the hold has been lifted...

from the merchant account.   With respect to the $253.40 debit described in the complaint, please note the funds are related to a transaction on or about July 1, 2017, which was processed using the merchant account.  On or about July 21, 2017, the cardholder filed a chargeback (“Transaction Not Recognized”).  Consistent with the terms and conditions of the Agreement between the parties, the merchant accountholder’s designated bank account was debited in the amount of $253.40, representing the charged back transaction.  However, due to the hold in place at the time, the funds had not been initially credited to the merchant accountholder’s bank account.  Following a telephone conversation with a member of our Risk Department, our records show a credit was issued, in the amount of $253.40, to the accountholder’s designated bank account.  The credit may take a few days for processing; however, in the event the accountholder has not received the credit by 8/4/2017, please contact K[redacted] in our Risk department, at ###-###-####, to follow up.

We regret to learn that our customer reports concerns regarding their merchant account.  We are investigating the allegations of the complaint, and appreciate the opportunity to address concerns of our customers. A member of our team will be contacting the customer to obtain more information...

and discuss their specific concerns.  We hope this response, and the future contact from our team member referenced herein, provide satisfactory resolution to this matter.

We regret this customer's negative experience.  The decision regarding the holding of the funds for this merchant is made by the Loss Prevention/Security Team of iPayment. CreditCardProcessing.com's role in the sales process with this merchant is to explain the rates and fees associated with...

credit card processing and the equipment used for said credit card processing. We then assist the merchant through the application, underwriting and boarding process of their merchant application and merchant account install. At that point, they have a merchant account with iPayment and all debiting and crediting and holding of funds are handled and determined by iPayment and we have no control over such decisions.  We have requested a waiver of the fees in question as a courtesy.  We can confirm this account is closed.

According to iPayment, the funds in question have been released.

The merchant account was opened on or about August 4, 2017.  The account was established with monthly processing volume limit of $10,000.00, and an average transaction of $2,000.00.  Processing limits are established based on information provided by the applicant, and our...

underwriting department based on independent investigation.   Records indicate the merchant account in question was placed on a hold on or about August 8, 2017, after the account was used to process a single transaction that exceeded $10,000, due to financial risk presented by processing activity that exceeded anticipated monthly limits. A representative of our Risk Department reached out to the accountholder on the same date to advise of the hold and request information to verify the transaction. Our representative also offered to process a return, in the event he wished to accept another form of payment from the customer, and according to our records, the accountholder opted to process a return with the assistance of our Risk Department.  Records indicate that we provided forms to request an increase in processing limits, which was returned to us today and will be processed in due course.  Additionally, we note that transactions which did not exceed processing limits on the merchant account were not held.  Per the complaint, it appears the accountholder believes that the account was not set up with appropriate processing limits. As noted above, the processing limits are due in part to investigation performed by our underwriters; however, we apologize for any miscommunication or inconvenience that may have occurred.  Should the accountholder have any questions, please contact K[redacted] in our Risk Department at ###-###-####.