My client made an ACH payment to my business from an Invoice. The payments were a draw from a construction project and were in a total sum of $136K. Currently the funds have been held for 14 days.
Over the past several days following has been the outcome of our conversations with over 6 QB representatives.
- There was a hold on my account until I uploaded 6 months of bank statements and contracts for the transaction.
- Before going to that trouble I was told that they could return the funds to the client which I told them to do so and I would pick up arrange another payment. This was an apparent lie and could not be returned to my client.
- So then I proceeded to upload all documents for review. Contracts, Invoices, and Bank Statements.
- After review I received a call that stated they needed more bank accounts uploaded from other banks where i held money to substantiate a large payment. I told them I was not interested in uploading other account information for a payment. The result of the call was that they would not process my money because I did not have enough in the bank to substantiate a dispute of the transaction. "Bank statements did not support the current volume". So I was told to have my client complete a reversal.
- After working with my clients bank they could not complete a reversal after 24 hours on the transaction due to them becoming seasoned.
- So I tried to complete a refund to client on my merchant center and it was declined by QB.
- Bottom line is QB has had OVER $136K of my money for 2 weeks and they will not return to the client or process to my bank account. In essence QB is acting like a Bank / Processor without any type of desire of resolve for resolution. If the money will not go one way or another I am guessing they will try to keep it.... That seams the course of this transaction.
I have worked with many Processors / Banks and I have never had such issues with an institution as this organization. Issues from my experience are as follows:
- I have received untrue information from improperly trained individuals, deceitful information to get me off the phone, or their system is so broken no one knows....
- Processing times are incorrect / inaccurate and are subject to change due to amounts of transaction and amounts of assets the company has on hand to "support the current volume".
- You can not talk to any human with the processing department unless they schedule a call back over the next several days. Therefore resolution is drawn out in length if any resolution is their desire...
- I tried to stay on hold to obtain resolution and was disconnected 2 times. No one can make a decision or make a call to process by design.
- If the transaction is over 25k apparently new rules apply on how long and when if ever you will see the money.
This beats all I have seen in my 21 years in business from a bank or processor.
Any help to receive would be appreciated because calling does not work....
