- Report: #579469
Complaint Review: Rbs Lynk - Rbs World Pay - Atlanta Georgia
Reported By:
Laurie -
West Palm Beach, Florida, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Rbs Lynk - Rbs World Pay
600 Morgan Falls Rd Ste 260 Atlanta, 30350 Georgia, United States of America
Phone:
800 200-5965
Web:
www.rbsworldpay.com
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Rbs Lynk - Rbs World Pay RBS Lynk RBS Worldpay takes $2500 from small business Atlanta , Georgia
I own a small business and have been using RBS LYNK, a.k.a. RBS Worldpay to process my credit card receipts, for over 3 years. I was informed on 10/27/2009 that RBS was going to withhold 25% of my daily credit card receipts, until a "chargeback reserve fund" of $4000 was met. This change was "based in whole or in part, upon my transaction history, as well as information reviewed from Equifax."
Though my business has had only a handful of chargebacks, (customer disputed charges), while processing well over 1 million dollars in transactions in that 3 year period. Only 2 fraudulent purchases resulting in chargebacks.
Upon receipt of the NEW reserve fund policy, I phoned RBS account executive Cheryl A. Brown, asked about the change in terms of merchant agreement, requiring a "security deposit" and was informed this decision was final.
I also had the right to JUST SAY NO... Thanks! I promptly found another credit card processing company, (with substantial savings to me, by the way). I terminated my services with RBS WorldPay on 11/18/2009. Even though I ceased doing business with RBS, I was informed they would hold MY MONEY, just under $2500 for 3 months, with no interest... What a RIPOFF!
In November 2009, I filed in small claims court in the state of Florida. Due to litigation, I have been in contact with RBS lawyer Douglas Sandberg. Finally 3 months from the date I terminated business with RBS, I received the release requiring me to: Sign send back to them, then MY MONEY would be returned!
To this date, RBS WorldPay, Inc is still charging fees, debiting one of my checking accounts, and created an overdraft. Now my bank, Citizens is charging service charge fees, due to the overdraft! Ironically Citizens Bank, is a subsidiary of Royal Bank of Scotland, which is the parent company to RBS WorldPay, Inc!!!
It's bad enough the banks received TARP funds, which all taxpayers are footing the bill, at least they will be paying interest. Yet this company decided to screw me, (and maybe you), the small business owner, for an INTEREST FREE LOAN!
Best advise for small business, JUST SAY NO to RBS WORLDPAY:
1. DO NOT SIGN any contracts with any credit card processor, as the fine print allows them to do anything short of pimping your first born. You can find processors, that don't require contracts, as I have now
2. DO NOT do business with RBS LYNK, RBS Worldpay a division of Royal Bank of Scotland Group, under Citizens Financial Group, Inc dba RBS Citizens, N.A. and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont.
They may do the same to your business...
Though my business has had only a handful of chargebacks, (customer disputed charges), while processing well over 1 million dollars in transactions in that 3 year period. Only 2 fraudulent purchases resulting in chargebacks.
Upon receipt of the NEW reserve fund policy, I phoned RBS account executive Cheryl A. Brown, asked about the change in terms of merchant agreement, requiring a "security deposit" and was informed this decision was final.
I also had the right to JUST SAY NO... Thanks! I promptly found another credit card processing company, (with substantial savings to me, by the way). I terminated my services with RBS WorldPay on 11/18/2009. Even though I ceased doing business with RBS, I was informed they would hold MY MONEY, just under $2500 for 3 months, with no interest... What a RIPOFF!
In November 2009, I filed in small claims court in the state of Florida. Due to litigation, I have been in contact with RBS lawyer Douglas Sandberg. Finally 3 months from the date I terminated business with RBS, I received the release requiring me to: Sign send back to them, then MY MONEY would be returned!
To this date, RBS WorldPay, Inc is still charging fees, debiting one of my checking accounts, and created an overdraft. Now my bank, Citizens is charging service charge fees, due to the overdraft! Ironically Citizens Bank, is a subsidiary of Royal Bank of Scotland, which is the parent company to RBS WorldPay, Inc!!!
It's bad enough the banks received TARP funds, which all taxpayers are footing the bill, at least they will be paying interest. Yet this company decided to screw me, (and maybe you), the small business owner, for an INTEREST FREE LOAN!
Best advise for small business, JUST SAY NO to RBS WORLDPAY:
1. DO NOT SIGN any contracts with any credit card processor, as the fine print allows them to do anything short of pimping your first born. You can find processors, that don't require contracts, as I have now
2. DO NOT do business with RBS LYNK, RBS Worldpay a division of Royal Bank of Scotland Group, under Citizens Financial Group, Inc dba RBS Citizens, N.A. and Citizens Bank of Pennsylvania. They operate a 12-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont.
They may do the same to your business...
2 Updates & Rebuttals
Laurie
West Palm Beach,Florida,
United States of America
Your Right!
#2Author of original report
Sun, June 27, 2010
A seasoned employee like yourself, made a very accurate statement...
I was ignorant! The verbiage in the contract a business person typically signs with a credit card processor, is stacked in favor of the processor, not the merchant. I now have a processor with no contract, and more favorable terms and fees. I won't make that mistake again.
P.S. My litigation was successful.
chrisjmil
Atlanta,Georgia,
United States of America
RBS
#3UPDATE Employee
Sat, June 26, 2010
Hello,
I find your statement to be very insulting and ignorant. You should probably look up the rules and regulations of Visa on the website seeing as you were so kind to find information on rbs. Businesses like yours should not accept credit cards due to negligence and poor education of how the industry really works. Your situation would have resulted the same whether its was First Data, Heartland, Chase Paymentech, etc. I have been in the industry for over 4 years and have provided the best service going because I make sure all merchants are educated. Also know too that chargebacks are like having bad grades on a report card. At the end of the day you are a risk whether its big ol bad rbs or a bank. Also know too that for up to 6 months the credit card funds are not yours if the customer disputes it. My reccomendation would be to ask for id, better state and handle your return policy procedures, and don't blame others for your mistakes. Thanks!
