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iPayment Inc / Money scam

1 United States Review updated:

iPayment Inc. is holding $2000 of my funds because after a great 3 year track record, they decided I was a security risk due to some ridiculous chargebacks from customers which already recieved their parts. They told me they will have to hold my funds for 6 months in case another chargeback comes through. Despite their promise, another bogus chargeback came through for $700, and iPayment debited my account any ways. They told me they would use the funds on hold for future chargebacks. iPayment has stolen $2700 from me, and it took me 5 phone calls to even find out why.

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  • Jl
      1st of Jan, 2010
    0 Votes

    The same thing happened to me i made about 4, 000 then they decided wi was some bogus risk i faxed this maricris clown 5 pages of documents and tracking numbers and they still are holding money they tried to go into my personal checking account and added bogus chargebacks

    ipayment has a class action lawsuit against them here is the website

    write tem to join this lawsuite

  • Gl
      16th of Feb, 2010
    0 Votes

    Ipayment is holding $3, 338 of our funds even after customer called their credit card and cleared the confusion. We called Ipayment and they said we were a security risk (We have been in business 18 years and have processed hundreds of transactions). They said that they will hold the funds another 45 days. This in THEFT and these thieves should be prosecuted. I have contacted the Attorney General Andre Cuomo of New York and The Superintendent of Banks for NY Richard Neiman. Ipayment is a fraudulent company. D not do business with them.

  • Re
      5th of Apr, 2010
    +1 Votes


  • Me
      13th of Apr, 2010
    0 Votes

    single mom and I started a small graphic design business. I already had clients paying with check, but it was an inconvenience for some, so I decided to ad credit card processing. Everything was fine and I had several transactions with my clients, until I was accused of not delivering service or merchandise by a new customer. After faxing all documents to this processor, proving the complete opposite, even a tracking number by UPS proving that the merchandise was delivered,
    This processor went into my account and withdrew $1500 twice (total of $3000) in one day, and they are holding over $2500 in transactions. and they are not returning my calls now. My bank account is overdrawn and I had no one to turn to. The initial dispute amount with the client is $270, and I even had a letter from UPS proving that the merchandise was delivered. This is putting me and my 2 kids in an awful situation. This processor is scam and they do not listen to their clients (let alone to give us the benefit of the doubt). They withdrew the funds and said that it could take up to 180 days for them to investigate..investigate what???? I gave you proof that it was delivered. This is a tactic used by ### to gain interest by holding funds of hard working Americans. DONOT AND I SAY IT AGAIN, DO NOT USE THIS COMPANY. We found them online thru

    Melissa Farsakh

  • Rw
      11th of Sep, 2010
    0 Votes

    iPaymant also got me for almost $10, 00 with some bogus scam. They bought my Merchant Account from Online Data Corp. Without even telling me they bought the Merchant Account, I had no knowledge and thought I was still processing for Online Data Corp. Talk about desperate. Ipayment has to buy account so they can steal from them. Then they tried debiting my Checking Account with fraudulent claims. I reversed all the debits and Ipayment placed me on the TMF List. If I even knew my Merchant Account was in the hands of those thieves at Ipayment, I would have closed the account immediately. So I am sure they are operating many accounts the same way.

  • Ge
      6th of Oct, 2010
    0 Votes

    iPayment got me for $4, 500 with hold on to my money. They said I had two transactions on the same day with the same card. That was true customer called back and added more products from company. Risk management held all my transactions for that day until the could verify two swipe. My total transactions for that day was over $3, 600.00 and the next day I have over $1, 500.00 in transactions. With in 24 hour I faxed invoice and the customer gave them verbal authorization that the transactions were valid. Then iPayment said all of the funds will be held until I reverse the 2 payment. I call back in an hour and told them the payment was reversed and Raul in risk management said it takes 72 hours for them the see it. Called back in 72 hours they said the funds was released. However, I called back again after 4 days and customer service said the funds was not released. What is really going on. Go through another company like Bank of America. You will get your money the next day deposited into your account.

  • Nj
      12th of Oct, 2010
    0 Votes

    I am a small business owner as well and the ceo of this company should be publicly punished and flogged.. ahole..

  • Us
      3rd of Dec, 2010
    0 Votes

    iPayment is currently holding $10, 500 after I processed with them for just two weeks. They actually held my third through fifth settlements, and then I received several settlements, and then after several more settlements they closed my account. I have been talking to William and Gina and Risk Management and made very little progress. William said that based on the contract I signed they can keep my funds in reserve for 270 days. He said that I was processing outside of my limits. I asked what my limits were, and they were based on a $45.00 average ticket. I had several purchases in excess of $500, but when you AVERAGE out the tickets it was $46.00 per ticket. William and Gina and the team at iPayment Risk Management clearly don't know what AVERAGE means. I calculated my average ticket for all completed sales for the year and it is $45. I guess they are looking for lowest and highest, not average. They need to get it straight. I even asked William to tell me the gross of all my processed transactions divided by the number of transactions - the total is $46. If I am within the allowed processing limits they are in breach of contract. I am actively seeking an attorney to represent me for breach of contract, and to help me collect the funds they are holding, along with punitive and compensatory damages.

  • Wi
      18th of Dec, 2010
    0 Votes

    iPayment Inc. lock up my bank account and screw up money they suppose to paid me!
    these B&^(% A)* company still own me $2000 i'm just waiting for someone to sue the crap out them

  • Bi
      4th of Jan, 2011
    0 Votes

    Call me at 1-860-558-8160 if you have this issue. They are holding $10, 000 of mine and WILL NOT release it. Someone call me and help fight this as a team.

  • Ma
      5th of Jan, 2011
    0 Votes

    These fckers limited my account because i was making over my limit, so they told me i need a limit increase form, i did that, faxed in invoices, statements, and after i did this, the risk department named raul then tells me that i have ''fake'' chargebacks, and that this wetbak idiot needs to close my account. Funny thing is, i never had any chargebacks, and now they made my business look like fraud.

    Beware, he never answers calls, never answers youre voice mail, and a fckin rude [censor] and they have bunch illegal mexicans working there.

  • Eg
      21st of Jan, 2011
    0 Votes

    Yeah, I spoke to the guy William at iPayment as well. I had been processing with them for over a year, and HAD (and still have) NO chargebacks -- none! Not one or two. . .NONE. I literally have a 0% chargeback rate. Most of my clients I have been working with for 5 years or longer. In November at the height of my business' busy season, iPayment decided to suspend my account (and hold my funds for 180 days) because I was in William's exact words: "A high risk merchant". I laughed at first because I thought he was joking, and I mentioned to him that I had a 0% chargeback rate in the 19 months I had been processing with them. He said that didn't matter, and that my business model (I'm an online business consultant and help new and existing business owners get their businesses online or enhance their business presence online) was "risky" as he put it. They of course dipped into my bank account for an additional $500 which they claim was to hold a "reserve" in the event of any chargebacks, and as I mentioned I have a 0% chargeback rate! I told my clients what transpired, and they all agreed it was crazy. I of course, did the work my clients requested me to do at no charge to them, since they had already "paid" me via credit card and iPayment held the funds, but I wasn't about to penalize my clients for my processors insane actions. Instead I went back to my old processor, who accepted me with open arms, and even matched the rates that iPayment was giving me, since it was the reason I left them in the first place. Avoid processing with iPayment at all costs. If you go through a merchant service provider, ask them who their processor is, and if they tell you it's iPayment, ask them to set you up with a different processor. You do have a choice.

  • Ic
      21st of Jan, 2011
    0 Votes

    Do not process with this company!!! They WILL rip you off.

  • Su
      24th of Jan, 2011
    0 Votes

    5 stores here in Spokane Washington have been ripped of by ipayment & their card processing machines from Northern Leasing System. My store is one of them. Their rep gave a presentation that was full of lies. He said he would buy me out of my old processor for my account & old machine.. He said as part of his customer service he would return my old machine for me. He stole my old machine as it is missing & he doesn't answer any of his calls or emails. I have reported him to the local Police & reported my machine stolen. I have closed my bank account as I was paying fees to both companies, ipayment & my old company.There needs to be a class action suit on these guys. With all the complaints on the net they should be closed down.

  • Iw
      28th of Jan, 2011
    0 Votes

    iPayment processed $1, 900 worth of valid credit card payments from my 7 customers, then froze my account and finally closed my account. I never received the proceeds from the transactions and I needed to issue refunds to the 7 customers who already had the money charged against their accounts. They are rude and mean theifs.

  • Al
      5th of Feb, 2011
    0 Votes

    I Payment Merchant Service is committing fraud...

    I have problems with them... they took money out of my account after canceling service with them I haven't even used their service at all and I cancelled because they had bad customer service... Also charged me some fee that was not even on contract after I canceled with them ... refused to refund the money... Charged me cancelation fee when on contract we agreed that its month to month... They need to be shut down and sued for what they worth...They are a bunch of criminals... I know I'm not the only one they did this to... If you want to sue these guys I'm with you... I'm already contacting lawyer... you can email me if u have any comments or questions Best way to deal with them is cancel account and change your checking account... then file a lawsuit...

  • Wa
      9th of Feb, 2011
    0 Votes

    Looks like this Williams like to hold ppls money i have the same problem as same as egill, i just got their system hopping it will be better for my business but wrong, i was much better with paypal, this Williams frost and close my account and is holding 2500 they talk about contract but they don't follow their own contract in the contract say whey you closing the account you need to give them 30 days and in writing and this Williams jus close it without notice.

  • A1
      15th of Mar, 2011
    0 Votes

    Same crap with this William bescides having a God complex we had to pull information from him of why they closed account only after two months. And today they are trying to withdraw three seperate amonts totalling $2000.00 have no clue what this is for and most likely will not get an answer. We have never fealt so taking before and they should send there customer service to training on how to talk with people because they really suck at this, we had to contact them all the time guess they do not have out going phone lines or guess they have not taught the monkeys to dial yet.

  • A1
      15th of Mar, 2011
    0 Votes

    guess its just not the customers they have frauded

  • Ja
      1st of Apr, 2011
    0 Votes

    Same here, scam is obvious and transparent, had account open for 30 days, was expecting a $480.00 in settlements today to hit my business account. When the funds did not show up in my account we called and were told that we needed to fax over invoices of transactions. Was very hesitant and reluctant because they were asking questions like what kind of business are you, what do you sell. We were like fine time to ask now after you approved our account and allowed us to process for 30 days with no chargebacks or disputed transactions in at all.

    They said they needed to know if the charges were valid and would release our funds. Drove in rain to borrow 10 dollars to fax invoices at kinkos and then we called to ask if they got the faxes and they would not answer the phone. A secretary picked up and would not identify herself said the guy in risk management working on my account (guy said his name was paul) this woman who would not id herself says he sent a "closure letter" by mail and we should refer to that for any questions. She said our funds would not be released. Funds that were paid by my customers and goods and services rendered.

    They gave no notice, and the fact that our first conversation on the phone with our new merchant account providers was our last and only conversation shows what business and scam they are engaged in. So we have probabally violated our customers right to privacy some purchases were sensitive and confidential and lost our customers, lost goods and services, probabally according to some of the above posts will lose more as they will probabally try and come back to my bank account for more theft. I want blood, I have personally had all i can stand with banking fraud and banks. If I it were not for me living in baltimore and ipayment stating they are in california you may be reading a much different article.

    I am very serious as a matter of principal because the wire settlement was going to be used to make a family trip after promising the kids a fun weekend, now we will be lucky if we have food to eat this weekend! I want Justice, and not corporate fake justice call me toll free if you are a victim and lets combine our resources and demand justice 1-866-265-7302 Ask for Jay

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