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Leaders Merchant Services / holding my money

1 United States Review updated:

My customers have my product & leaders refuses to release the funds. My maximum charge amount allowed was $20, 000 a month in sales. The sales Leaders says are "on hold" are less than $3, 000.00. Then, they closed my account. The reason given was that I "charged to much for each disk".

31 people have my software and only 2 have paid for it. I have no recourse and NO help from them getting my product back. 5 out of the 31 people were called by Leaders "risk management" Leaders says they had one complaint. Complaintant had already been issued a RMA and returned all product EXCEPT THE SOFTWARE DISK!!!

I have had only a few returns in the 3 years I have been processing with them. Any help or leads as to how to get my money please advise.


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  • Sb
      6th of Aug, 2009
    0 Votes

    LEADERS would like to apologize to this merchant for the experience he has had with our company. We at Leaders Merchant Services pride ourselves in providing our merchant’s with superior customer service and to hear a complaint such as this is truly disheartening.

    LEADERS has reviewed this merchant’s two separate accounts. Per our internal system records and our Risk Management department, LEADERS has found that both of the merchant’s accounts were closed due to excessive chargebacks, cardholder complaints and security risks. There were, in fact, funds held and placed on reserve as a result of the merchant’s risky processing. These funds will be reviewed for release in October, 2009. Risk is a very serious concern in this industry. All processes regarding high-risk transactions and chargebacks are clearly outlined in the Merchant Processing Guide, page 15, section 10.1, “Chargebacks and Other Debits”. It is the merchant’s responsibility to follow the parameters in this guide in order to limit the risk of chargebacks, losses and further damages. If, for some reason, the merchant did not retain his original copy of the Merchant Processing Guide, he can locate a free, downloadable version at:

    We, at LEADERS, regret that the merchant feels that our services were less than satisfactory. Under the circumstances, we followed standard industry practices. Once again, LEADERS would like to apologize to this merchant for the misunderstanding and we would like to wish him well in all future endeavors.

  • Sp
      8th of Oct, 2009
    0 Votes

    Sure is funny how big of a scam Leaders Merchant Services are. There are hundreds of scam/[redacted]s about their business and all they do is say "sorry" and do nothing more. Good luck trying to review your account with them as they suggest, they will just be rude to you a belittle you and then finally pass you on to a voice mail of some unknown employee who will never call you back.

    This company has so many ongoing problems and issues with current/past merchants, be best not to do business with them.

  • Sr
      12th of Oct, 2009
    0 Votes

    The merchant’s account was closed due to an excessive number of cardholder disputes. LEADERS did not cause the cardholder disputes and has worked with the merchant for several months to try and correct or alleviate the issue. Processed funds were held on the merchant’s account to secure against future losses, as LEADERS hold the liability of any loss associated with the merchant’s account. LEADERS has been more than cooperative with the merchant in explaining the loss and providing a detail of the amount due. The merchant is more than welcome to contact our Merchant Support and Risk Department for an additional accounting detail of any funds due. To reiterate, the amount due was caused by the merchant’s clients disputing items and not by any action taken by LEADERS.

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