I am so sick of this shit...............
 

What would you do if a certain credit card processor you used to use not only lets anyone charge back without fighting it, they charged you double? IE if someone charged back $500 they deducted $1000 from you?

Is this in their policy?! :eek7

NO it is not

Sounds exactly like Paypal :1orglaugh

Better yet, what if they refunded the $500 purchase months ago then recently decide to charge you back another $500?

How about a name so nobody else gets burned like this? or atleast we can keep a watch on them?

Sorry to hear about this bro. :Oh crap

Better yet, what if in their TOS they have a little disclaimer stating that if I call them out for bullshit they can deduct my money to pay for their attorney fees?

Does the company have a V and a D in their name?

It gets even better, what if this theoretical cc company refunded the buyers $500 when he called them to complain months ago, the theoretical cc company never contacted me as they say they will in their TOS, hell they did not even INFORM me that there was a refund, then on top of that they allow the exact same person, same cc everything, to continue making purchases to me.

Sounds like MyVirtualCard :thumbsup

1) Change processors
2) Take further action if you feel the need :)

Seriously, sounds like a pretty fucked up situation, and this isn't the first issue you've had with them. Time to look for alternatives IMHO.

This sucks ass...

In the end of this the only ones that win are the lawyers anyway... just like in a bad divorce :disgust

By taking other actions I assume you mean legal? What if burried deep in their TOS is a little clause that states that in the case of legal action, they can use YOUR money they are holding to hire a attorney against you?

Well, stop processing with them, get your money, then go the legal route.

What is their explanation regards those tactics and issues anyway?

I mean, if this is not in their TOS / policy, what gives them the right to do it?

The contract is an "adhesive" contract, I suspect the processor is not mainstream no real lawyer would put those terms into a TOs. They use TOS terms like that because people are afraid to challenge them. I doubt any court would enforce those terms but since you still need to pay the fight fees the best option is to find a new processor.

stop using that processor and get a direct merc lol

They almost always take the side of the buyer. The seller is just a number to them. You need them more than they need you. That's just the way it is.

Sounds like a rather fucked up processor. I agree with the suggestion about getting all your revenues owed first - then contacting an attorney and let them decide what merits a potential case has.

Was all this contained in the original TOS you signed to, or was this a revision after-the-fact? Either way, it all sounds extremely unprofessional and I highly doubt would stand up in front of a judge.

That's Bull shit

get your money out of there a.s.a.p.

I have not taken cc as payment options for some time, but maybe this cc processor also has buried in their TOS a clause that they can hold all my funds for a additional 6 months if I stop using them?

So maybe this cc processor is holding my money thinking it will make me shut up?

Do you mean they'll hold your reserves, or that they'll refuse to pay out your last period if you notify them that you're leaving?

In the first instance perhaps risking that 10% might be worth the satisfaction of legal action
In the second, just stop sending them transactions. Hope they don't notice too soon. :)

Ouch...

And meanwhile everyone who complains / feels like gets his money back from your held funds ...

Fucked up situation to be in, I wish you the best in getting your $$ and as much as possible of it of course...

Meanwhile you should talk to a lawyer anyway about them charging you double when someone does a CB.
If this is one thing that is NOT in their TOS at least get that covered and go against it, after you have back what is left from what they hold right now.

I guess this was a learning experience after all, and hopefully a heads up to some people still using them or about to use them.

Steve

They will hold all monies for 6 additional months from the time you stop processing, this includes reserves already being held for 6 months, so in essence this means you will not get some of your money for over a year.

Pretty fucked up eh?

what is the name of the processor ?

This is all theoretical, I am not saying this happened to me.

That's a very interesting story. I happen to be looking for a processor right now, and I'll be sure to read the TOS very carefully. Not that I wouldn't have anyway.

The double fees and chargebacks after a refund are fucked up yes. However, the holding of funds isn't too out there as for as high risk transactions go.

theoretically its mvc right ? :winkwink: :1orglaugh

Subtle as a sledgehammer. :thumbsup

Time to sue maybe

Have you spoken to the purchaser to recover some monies, it still doesnt help your processor woes though:(

same thing happened to me with paypal, this really sucks if you find a way to get the $$ back tell me