ComplaintsforMaverick Payments

• Initial Complaint

  05/24/2024

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  I had been with Maverick for almost a year. For two different platforms. With very little problems. I had to go abroad for some urgent matters, then the fires started. They withheld 100% of the money. They decided to close my accounts with them, but yet were still accepting the payments at 100% withhold. They never told me they were closing my accounts, because they were still accepting payments. Everytime I tried to get answers they simply said I would have to speak to my sells representative, who was a third party. They were non-responsive. But Maverick continued to evade my attempt at answers, and simply diverted questions to a sales representative, who was completely ignoring me. MONTHS later, they are still withholding over $6,000 with no responses. I called them yesterday, and they said they would open tickets to look into this matter further, but as I told them before I am unable to login into there system. Even when I reset the passwords and copy and pasted to ensure no typos, the system continued to prompt me reset the password. So how am I even supposed to check the tickets? Meanwhile, they are still withholding over $6,000. ($4,326) in on account and ($2,102) in another account. They were also communicating private information of mine to a third party business, which is a severe breach of ethics and contractual obligations on their behalf. The shady business practice to withhold the money this long where by they make interest on my money, and the fact they continued to profit by processing even though they breached contract by stopping payouts need to be answered. While the contract stipulates they can end processing at anytime, their lack of communication that they had terminated and their continuance of processing which only benefited them was a severe breach. CC: Federal Trade Comission CC: Attorney General of California CC: Briggston Attorney at Law $6,428

  

  Business response

  05/28/2024

  Maverick regrets that its customer reports concerns related to *********************** policies.  Maverick is unable to divulge specific customer information, but must take the opportunity to respond generally to the serious allegations of this complaint.  Mavericks actions are and remain in accordance with applicable law and the commercial agreement between the parties. Maverick is contractually authorized to establish a reserve account for funds to cover its losses; and contractually authorized to retain such funds for a minimum period of 9 months following closure of any merchant account.  Funds released after the expiration of that period would be subject to any trailing losses related to the processing services made available by Maverick to merchant pursuant tor the commercial agreement between the parties.  Such trailing losses would include legal obligations to third parties.  Maverick has provided information regarding the specific circumstances surrounding this merchant and their merchant account(s), as well as direction, to the extent appropriate under the circumstances. Maverick will continue to act in accordance with its legal and contractual obligations. 
  

  Customer response

  05/28/2024

   
  Complaint: 21755503
  
  I am rejecting this response because:

  They were contractually obligated to notify me they were closing the account and made no contact. 
  They also stated on the phone they would keep it 90 days but now saying 9 months. 
  

  no where in the contract did it say 9 months. It says 180 days. 
  

  I would like to know how they feel its okay to change their policy and break their contract. 
  

  This is my attempt to request an amicable solution, but they arent even addressing my concern, Maverick would you like to reach a reasonable solution or should this issue be escalated to higher authorities, and should I also involve your banking partners?  

  CC: Attorney's General Office
  CC: Briggston Attorney at Law
  
  Sincerely,
  
  *******************************

  Customer response

  06/07/2024

  Hello, I would like to formally close my dispute. The company has resolved my issue very respectfully and I appreciated it.

• Initial Complaint

  03/14/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Maverick Bank located in ********* *********************** out of ******** ** was used by Authorize.net to assist in processing credit cards for my online business. Upon opening my account, there was no details provided on fees and the % they were holding in a reserve account, by my Account Representative *************************. I feel scammed by this entire process because a thorough application wasnt even completed by me. I requested a copy of the **************** was forged. Ive never done this before as Im new to this whole process. I feel taken advantage of by this *************** lack of communication. After 3 months of processing payments for my small skincare online business, they refused to release my reserves of almost $5,000. I was so upset about this, because I was told I would receive the money back after 3 months. Once I closed my account, they still refuse to release my money. I requested a reason or at the very least a timeframe of when my money would be released, they will not answer any of my questions regarding my own money. This is a scam & pure theft from a small business. In addition, *** asked them to release at least half of my money. They still refuse. I am a very small business that only made close to $30k in 3 months. I had 3 chargebacks and won them all. They were all small amounts. I dont understand why a small business like mine, with zero sales some days, is such a high risk where they refuse to return my money. No one is helpful & no one is responding with answers. They wont even call me back. I really need my money back. Im a small struggling business that has been taken advantage of. I want 100% of my reserves being held by this bank immediately. I need proper communication by phone or email from someone located higher up in management because Im stuck logging into a messaging system called Zen Desk & going back & forth with a ************** in the risk department who is offering zero assistance.

  

  Business response

  03/17/2024

  Dear *************************, 

  The reserve balance (which you agreed to per the terms and conditions of your account) was released. We notifed you directly and the ticket you submitted in our dashboard was marked as closed/resolved. Should you have any additional questions or concerns, we would be more than happy to assist you directly in your dashboard. Thank you. 

   

  Customer response

  03/21/2024

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *************************

• Initial Complaint

  02/29/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Maverick payments has unethically, immorally took $3800 off our account into reserves for processing high ticket sales, after requesting for a ticket size increase we were declined so we had refunded the sales on same day, pertaining to still swindling $3800 from us illegally holding it for no valid reason.

  

  Business response

  03/14/2024

  Dear ************, 
  
  Upon review of your account, we have no reserve funds as you have refunded all transactions that you processed and have since placed a stop pay on our debits for services provided. Your account has since been closed due to this and there is a collections balance. Please reach out to us to resolve this matter directly. 
  
  Thank you.

• Initial Complaint

  02/20/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Good evening,My husband and I have owned a small business for multiple years now. We needed a higher credit processing limit and were recommended Maverick payments. Unfortunately, our experience has been beyond less than disappointing with this company. We have received over $200,000 in fraudulent disputes over the last year. We have provided proof, evidence, and legal evidence to Maverick to fight these disputes with no positive outcome. In addition to this issue, Maverick started taking a reserve from our proceeds and we did not sign any documents approving this. We have not processed any payments through Maverick for over 6 months and they still refuse to release our reserve amount which exceeds over $200,000. Our representative requested that our reserve be released as they have no basis to hold it and are holding it illegally. Again, Maverick refused to release our reserve funds. We have legal counsel and have sent a demand letter to release such funds with no response to our lawyer. We are currently still in contact with Maverick and are being requested all of this additional information such as bank statements in order for the reserve to be released. This is completely unacceptable, unethical, and unnecessary. We have been patient; we have provided all information Maverick has requested and we still have not had our reserve released to us. We do not want to pursue legal action; however, we are being forced to do such if this cannot be resolved in a timely manner and as soon as possible.

  

  Business response

  02/22/2024

  Dear ********************, 

  Upon review of your account, we are willing to release funds as detailed within your merchant account agreement. To date, we have not had any outreach, demand letter or otherwise, from your counsel. 

  Please reach out directly if you have any additional questions. 

  Thank you. 

• Initial Complaint

  01/04/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  Hi Earlier this year I signed up to Maverick Merchants/Zen Payments for merchant Credit card processing for my small business. During that period I processed $41,000 in transactions. Like many other BBB Complaints Maverick Refused to release my reserve of $4,785. I recently submitted a support ticket and was brushed off and told to try again in another 90 days after already waiting 90 days prior. My Chargeback ratio is under the industry standard and Maverick has pushed me to the side and has demonstrated awful customer service as they do many small business merchants. These types of shady business practices seem to be common with Maverick along with there neglect to small businesses. I have attached a screenshot of my reserve and Chargeback ratio. To Maverick Do what is right and release payment immediately. Many small businesses operate on a small budget and $4780 can determine if the business can survive.

  

  Business response

  01/09/2024

  I'm very sorry to hear about your experience with Maverick Payments, ****. I'm sure it's frustrating to say the least. With that said, I want to clarify that my company, Merchant Maverick, is not the company that you're conducting business with. Maverick Payments is a different company entirely. We have no association with Maverick Payments and do not offer credit card processing services. The correct BBB profile is the following: ****************************************************************************************************************************************************.
  
  
  

  

  Business response

  01/23/2024

  Dear **************, 
  
  Following our procedures, and per the account agreement, your account has been reviewed and the funds have been released.

  Please contact us directly with any additional questions. 
  
  Thank you,

  Maverick Payments

   

• Initial Complaint

  11/22/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Earlier this year I signed with Maverick Payments/Zen Payments for online credit card processing. I only used their service in the month of August and soon after canceled service. During that time I processed a total of $8450 and like many other BBB complainees, Maverick refused to release $4955 which is being held in reserve. I recently submitted a support ticket requesting release of funds as well as last 3 months of business bank statements (Maverick Bank advised this was required). The request was quickly denied and ticket closed. $4955 is 60% of all processed transactions without any chargebacks/refunds. These fraudulent practices seem to be a pattern by Maverick/Zen Payments. To BBB: I have attached a my processing statement which outline the facts stated in this complaint. To Maverick: Do whats right and release payment immediately. Many small businesses operate on a tight budget and $4955 can determine if the business succeeds or fails.

  

  Business response

  12/19/2023

  Dear *************************, 
  
  After a review of your account, which was terminated due to Risk concerns, I can confirm that we have no reserve funds on file as we released the full balance on December 3rd. 

  Please keep in mind that per your merchant agreement, funds can be held for an extended period based upon performance of your merchant account. Given the unusual processing activity on your account which warranted immediate termination, we elected to hold reserves regardless of chargeback activity which is not the only factor we review to determine the need for a reserve.

  
  Thank you.

  
  

  Customer response

  12/19/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *************************

• Initial Complaint

  08/08/2023

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  Maverick Bankcard (Maverick Payments) has knowingly sent falsified information to a collection company stating that I owe them monies in the amount of $83.89, which I don't.I have no contract with this company and do not owe them for anything, if any, they owe me for unlawfully debiting money out of my bank account without ************************************ just sent my information over to a potential scam company to take money from **** have not once been told by Maverick Bankcard (Maverick Payments) that I owe them anything.

  

  Business response

  08/29/2023

  Dear **************, 
  
  In reviewing our records, we see that a merchant account was opened for your business in April 2023.  We show that you requested to close the account the following month as there was a misunderstanding on the monthly costs.  We processed your closure request in May, although fees had rejected for ****** which were due.  Our internal Collections team attempted to reach you regarding April fees, but they were unsuccessful.  Your account was then wrongfully sent to our collection agency as the amount owed of $82.29 would not merit further collection efforts.  This was an error on our part.  We can confirm your account was closed with the collection agency on August 11, 2023.  No further action is needed, and your collection balance is cleared.  Our apologies for the inconvenience.

  Customer response

  08/30/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ***********************

• Initial Complaint

  08/04/2023

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I started payment processing with Maverick in Jan of 2023. They explained that they would hold a reserve amount of 10% of each transaction in case of charge backs. This would be held for 6months then returned to us and possibly the reserve removed all together. We found a much better payment processing company that had better rates and no reserve so we switched in may of 23 in august I informed Maverick I would like to close my account as I found better rates with no reserve they offered to give me a better deal and remove my reserve which I declined. I asked the account be closed before the closing of the account I asked how long it would take to get our reserve back. They now want to hold the funds for an additional 90 days because the account is now closed. Even though they failed to payback any of the reserves that have already been held for 6months. This is a horrible company. Trying to keep money that does not belong to them.

  

  Business response

  08/04/2023

  Dear ******************, 
  
  This was escalated to management for an additional review of your account and the reserve terms. We have determined that we can release the funds in full. We apologize for any inconvenience this may have caused you and hope this has been resolved to your satisfaction. 
  
  Thank you. 
  

  Customer response

  08/04/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ***************************

• Initial Complaint

  06/05/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I got approved by Maverick bank for my business for payment processing purposes. But after some extensive research I found Alliedpay to be a fraudulent business. So I took my business elsewhere and asked that my newly approved account be closed immediately (about a week after approval) after speaking with my rep, he basically told me hed try but no guarantees. In the meantime I have now been charged several monthly fees to my bank accounts for a service I did not use. I will accept the first payment because of the agreement I signed, but I Will absolutely not take accountability for the other $80+ missing from my account! This has been the worst banking experience of my life. I will never use maverick ever again! They are a scam! A joke! Fraudulent!

  

  Business response

  06/12/2023

  Dear ********************, 
  
  Per your agreement, there are monthly maintenance charges regardless of whether there is activity. We have tried to reach out to you personally to rectify this matter. For the month of May, no fees were paid. We closed the account and waived any outstanding fees. If you would like to provide more detailed perspective on your experience, please feel free to contact us directly. Thank you.

  Customer response

  06/12/2023

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  I received my refund and my account cancellation request, thank you. 
  Sincerely,
  
  *******************************

• Initial Complaint

  02/21/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I was using Mavrick payments back 2 years ago and they were charging me a percentage from each transaction but my account closed then when I want it to open my account back again they asked me to do e sign to reopen it after that now they trying to bill me for a setting up account and reactivate it for 1200$ without nobody disclosing or tell me about those fee When I refused because I wasnt aware of those fees I sent a letter saying why Im disputing the fee but they ignored the letter that I sent An they sent out my information to collections and they keep asking me for money 1200$ for service or something I didnt use or receive anything Please to all people be advised And aware of this company will take all information from you so they can bill you and take your money

  

  Business response

  02/25/2023

  Hello,

  The fee has been credited and will be removed from collections. Originally this fee was associated with the fees to register the business with **** and Mastercard which is required for card-not present nicotine and tobacco businesses. Please email ************************************ if you have any additional questions or concerns. 

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩