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Review 4/20/2011
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My company was recently terminated by Group ISO because of "a change in the industry." We have a .006% charge back rate, had recently had our monthly limit upped to 125k per month, our reserve requirements removed, and had been approved for an AMEX account. Group ISO told us, point blank, that the termination had NOTHING to do with us and our statements back up the fact that we are a great merchant who takes great care of our clients. None the less, they are still illegally holding 16 thousand dollars of our money. I could understand holding an amount equal to our total charge back amount for the last year (which would be $325.00 versus the $650,000.00 we ran win them), but 16K is tantamount to theft; not only of the money, but of the damages we are incurring as a result of the hit to our working capital. I won't go so far as to call them outright thieves, but I will say that you should be extremely cautious about ever doing business with them. They have very poor communication and are extremely inflexible in their favor in all decisions. Unfortunately, because of their, I believe, illegal inflexibility in this decision, I am looking at possible attorney general and legal action against them.
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Business's response - by Jennifer V.on 6/1/2011
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Our risk department and manager would be more than willing to come to a resolution with you. Please contact us so we can have a chance to work with you.
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