Priority Payment Systems – Non Funding

Beware! We used Priority Payment Systems to process our credit card transactions. We have been using a system similar to this for the past 6 years and have never had a problem. We were talked into changing to there company for better rates. After only 2 months of transactions we processed a large payment of over $25, 000. After the transaction was run we were contacted a few days later to confirm the transaction and asked to have the invoice sent to them along with the clients phone number, which we did. The client confirmed that he had agreed to the purchase. After a few days I called back to find out they had not funded our account. The client by this time had already had the funds put onto his credit card. At that time they asked that we get a letter for the client stating that he released the funds. They were not happy with his hand written letter and asked that we send another letter to have him sign and to put in the letter that he wanted the funds released. After sending this letter to them we were told that they were still going to hold the funds for 2 ½ more months to make sure that he was happy with the product. I thought we were their clients? What makes them think that they know how to run our business better then us? We have never had a client ask for a refund on any of our jobs. At this point they have paid ½ of the amount that the client charged. We have asked them to credit the client for ½ of the card charge. It has taken them over a week and the client still has not received the credit. After we told them we were getting our attorney involved they put a hold on our account, any transactions that had been processed have not been funded. During this entire problem not once did they ever try to contact us or send any correspondence to inform us as to what they were doing. At this point they are holding over $5, 000 in transactions. They have also charged us for processing fees on all of these transactions. They have told me that they do not intend on crediting our account for the fee on the original $25, 000. This company is under handed. They do not have good business practices. DO NOT DO BUSINESS WITH THEM.