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Need Help Asap my Credit card proceser is holding 4k of mine

Discussion in 'Business & Tax Advice' started by wseo12, Aug 30, 2009.

  1. wseo12

    wseo12 Regular Member

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    hi i am in some serious need of help i just started a new company and was making really good money about $1800 a day and then i call the company doing my cc procesing they told me that they are holding $3700 of my money and they can hold it up to 12 months i beleve becouse my credit is not that great now im pretty much screwed as i do not have any more money to continue my advertising when i know i can make $1800 a day and just sitting around like an idiot becouse i can not get my money out of holdings does anybody have any suggestions how i can get them to free my money

    also does any body now processers that will not hold my money at all please help as i dont know what to do

    Please will owe you big time
     
  2. TheTRUTH

    TheTRUTH Regular Member

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    What reason are they holding it for?

    Is it a U.S. Company?


    If you are indeed a legit merchant, and shipping our your goods, show them the tracking information, and signatues from your orders. If That doesnt work, file a BBB complaint..If that doesnt work then threatn to sue.
     
  3. wseo12

    wseo12 Regular Member

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    Hey thanks for the response

    well i am selling a digital download ebook and making lots of sales there for i have no shipping proof

    yes it is a us company

    what is a bbb complaint

    once again thank you

    anymore help will be appreciated


     
  4. blackhataffiliate

    blackhataffiliate Senior Member

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    Who is the payment processor? Your credit should have been checked before the account was set up and all fees should have been discussed before signing a contract. Did you sign an agreement that says they can take the cash? Was this discussed with you in the beginning? If so and you agreed then you deserve to lose your cash. What is the legal basis for withholding your money? You may want to think about signing up with clickbank as an alternative.
     
  5. indigobean2003

    indigobean2003 Newbie

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    bbb stands for better business bureau.
    If someone gets cheated they make a complaint there. People and companies often check how many complaints a company has with the bbb before they do business with them.

    Also complain on all the forums that you are subscribed to and ask for help. Companies don't like to have a bunch of bad forum posts.
     
    Last edited: Aug 31, 2009
  6. stunna

    stunna Jr. VIP Jr. VIP Premium Member

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    Sounds like they got you on a Rolling Reserve. It's actually a pretty standard thing is this industry if your business is new.
     
  7. XrayMan

    XrayMan Newbie

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    Yep, had the same thing, my reserve was set at $5000.Then it would be released after 6 months of the sale. They are not screwing you, but if you dont get any chargebacks the money is yours.
     
  8. wseo12

    wseo12 Regular Member

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    First data they do 90% of the procossing online

    i am thinking about using my bank as the new procosser what do you think ? or i would be better off using an online procossing company?