- Report: #637656
Complaint Review: ipayment - Thousand Oaks California
Reported By:
marsha -
Goleta, California, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
ipayment
po box 3429 Thousand Oaks, 91359 California, United States of America
Phone:
8005544777
Web:
http://www.ipaymentinc.com/merchant-services/index.html
Categories:
Business Rating:
(0)
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ipayment RIPOFF exorbitant fees paid for no transaction Thousand Oaks, California
We sell used industrial equipment. When I set up my account with Ipayment I was required to state an average sale amount. As this varies from $100-$20,000 but averaged at about $1500 monthly we put in $1500. Most of our sales fell in this category with no problem. However we had a sale of $16,905 and the company requested credit card payment. We ran it through. We were contacted by Ipayment that said that they needed more information before releasing the funds to us. They made us send in bank statments etc. which we did. They then said they had to have the name of the authorized user of the credit card account. We contacted the company who purchased the equipment and they said it was a corporate card and they had no designated authorized user. We went back and forth multiple times between Ipayment and the company and finally when the company began to get suspicious of us and our need for more information. The company contacted Ipayment and the funds were designated as "good." However Ipayment decided we did not have enough funds in our past bank statements and would not approve the transaction. We were told to issue a refund. 3 days later I received a charge on my bank account of $490 which was the transaction fee for the $16,905 that we never received! And they said we will also be charged a greater refund fee!! So we have to pay close to $1000 for a transaction that almost cost us a sale, for funds we never received! Do not do business with this company! Avoid Ipayment at all costs!!
