Complaint Review: Cornerstone Payment Systems

We were looking for a credit card processing company that doesn't make you wait an inordinate amount of time to receive your funds. Millenium Bankcard signed us up with a company called Cornerstone Credit Card Processing Systems. It has been awful. One time, something happened in our bank and the funds weren't there when the month fee of $21.00 was due so they closed our account. When we called the sales rep, he tried to help, but to no avail.

Then he didn't really want to do much after that and said you need to contact them yourself. They would randomly hold our batches, but we have not problems, no chargebacks with our account. Finally a man at the corporate office re-opened the account, but it took months. We reported them to the BBB as well to which they responded with a nasty letter stating how bad our company was for not having the $21.00 when they tried to take it one time! Then for about a year, the account was running ok, just recently our deposits were delayed again. They tried to say it was our Yahoo store doing it, they lied and said they received a batch on the 3rd and we found out later that they had received it on the 2nd but would not explain why they held it over the 24 hour period.

Again, something occurred with the bank and they couldn't take the fee out of the bank, but they could have taken it out of a batch being processed, and now they want to close our account. They said even though there has been no problem getting the fees all year, it is within their policy to close an account if they can't get their fee from your bank more than once.

We have asked for an accounting of the times and dates when they received the batches, when they were processed, why were they held even though there was no problem, but to no avail. Then they will ask for a large fee to end the contract early.

Trisha
Chatsworth, California
U.S.A.