I open my account with Chase Paymentech giving all supporting documentaions as to mthe nature of my business, and the different amounts that I could be charging. When they open the account, I vrified with them that I could start charging and what my limoits would be. I was informed there is no limit and I can start processing cards. I processed many card totaling in the high 50's for one weeks sales. Paymentech deposited 25,000.00 in the 3rd of June. On the 5th, they pulled the money back out of my account and informed me that they will be witholding 100% of my fund. The reason was that I had charged above what my industry standards were.
I call them and had many discussions with them, all the way up to the CEO's office. I explained that I had shown them contracts with the dollar amounts as to how much would be charge when the account was being set up. I was then told they would hold the funds for 6 months minimum.
I am recieving calls from my customers telling me they are having to pay foth card bills. Chase told me I have to supply the service they contacted me to do. I told them I can not until I recieve the fund due me in ordeer to compllet the transaction. I was told that wasn;'t any of there concerns.
Chase Paymentech Solutions, LLC Reviews
I open my account with Chase Paymentech giving all supporting documentaions as to mthe nature of my business, and the different amounts that I could be charging. When they open the account, I vrified with them that I could start charging and what my limoits would be. I was informed there is no limit and I can start processing cards. I processed many card totaling in the high 50's for one weeks sales. Paymentech deposited 25,000.00 in the 3rd of June. On the 5th, they pulled the money back out of my account and informed me that they will be witholding 100% of my fund. The reason was that I had charged above what my industry standards were.
I call them and had many discussions with them, all the way up to the CEO's office. I explained that I had shown them contracts with the dollar amounts as to how much would be charge when the account was being set up. I was then told they would hold the funds for 6 months minimum.
I am recieving calls from my customers telling me they are having to pay foth card bills. Chase told me I have to supply the service they contacted me to do. I told them I can not until I recieve the fund due me in ordeer to compllet the transaction. I was told that wasn;'t any of there concerns.