I have just been informed by my Merchant Service company that Wood Forest bank, they process my credit cards, etc, that MasterCard has refused to process any of my transactions until it receives an additional $1K. They claim that since it is an adult site and I have streams that this is the justification. I was also told Visa is charging up to $500. This is an extra charge on top of the monthly charge paid to them just for the ability to process cards.
The company I went with last November, Merchant Services USA out of Phoenix are the absolute worse company. They never contact me, return my calls, inform me of new polices, and my account with the bank was recently cancelled and they never even called me back when I contacted them.
THe bank closed my account last month because they mixed me up with someone who has a site with "upskirting". I didn't even know what it was. I had to have the woman explain it to me. I guess it is when guys have cameras attached to their shoes and take pictures up woman's skirts. Anyway I cleared that up and they re-instated me. This after customers were placing orders and being declined. Now it seems that whole thing has raised a red flag on my site. It shouldn't be long before Visa closes me down also.
I guess what I will have to do is remove the streams from the site. I have a feeling though MasterCard will still find an excuse to charge more money.
For me in my first year a grand it a lot of money.
What really pisses me off is how they take advantage of adult companies because not everyone will take our account. Seems like it should be illegal.
So, I am in need of a new Merchant services company. My year is about up and I want to fire them. There is not much I can do about the bank or MC though. I love how on the invoices they all say:"we value your business and understand you have a choice in your processing and appreciate that you have chosen us".
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