Telecheck / Denied Check and Debit Card Transactions
I have a small business banking account, and have utilized my business debit card and checks for years. On 5/11/11 telecheck processing denied my debit card, and a check (both methods of payment). I phoned my bank to for shock of identity theft. They confirmed the correct good standing account balance. The bank also informed me to look for contact information on the denied receipts and to contact the third party processing company. I phoned telecheck, they "updated my information". The operator informed me that the information would be updated in their system in 5-7 business days, do not try to process again, it will still be denied. I then utilized a personal account to pay the vendor. I was on a business trip, the debit card was denied 3 additional times by different vendors. I phoned telecheck today to speak with supervision/manager to try to get this mistake made on their behalf more quickly remedied (because freezing my ability to pay vendors does not work & is nuts), and also to request a letter stating why my account was denied and could not be processed and the length of time this error is to occur. (This letter is needed to put with my receipts, in event I need to justify IRS records for co-mingling personal and business expenses, while my account remains frozen by this inefficient third party company that has complete power to block your funds, and no way to correct mistakes. ) The only way I have found to place complaint with Telecheck is to write a letter to a snail mail address. The fact that a processing company that is not my bank has the complete ability to block all types of funds and render your money useless for 1 week is outrageous. If anyone has suggestions on how to stop this company, please advise.
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