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| ACH Direct Jeff Thorness Ripped Off by ACH DIRECT located @ 500 W. Bethany Drive, Suite #200 Allen Texas Allen, Texas |
| 7th of Dec, 2011 by User494527 |
| Have used ACH Direct to process my client service fees since 2006. Around last year ACH Direct (www.achdirect.com) started changing their policies by acting unprofessionally. ACH Direct knew very well of my client payment tendencies and late 2010 start holding funds they processed for my client fees. They did this on the day of the month that the most payments where made. Now that they where holding about 40,000.00 of my client payments achdirect told me that they wanted to change my current payment structure and that they needed to hold the money until I agreed to change our original contract. I needed my client payments and instead of going through a lengthy legal battle that could take years, I signed their new agreement. Thus giving them extra money each month for what they called high risk (an extra 3% on everything I processed) ACH Direct one year later 2011 around the very same time in the previous year again waiting for the time of the month when most client payments processed. Again held funds when my company needed it most; to make our payroll. Over 20,000.00 was being held for reasons of so called raise in chargeback percentage. The previous year they wanted an average of no higher than 1.5%. Well they have changed that again to 1% in order to freeze more money. I don’t know how many companies they are doing this too but ACH Direct must really need bonuses coming from companies they process for. When I tried to resolve this issue they had no regard about my company and not being able to meet my financial obligations due to the money they are holding without any notice. They say they are able to hold this money up to 3 years. Please don’t put yourself in this position, and my advice would be to choice another company that won’t take your money from you even without notice. ACH Direct and its managers: Franci Myers and CEO Jeff Thorness are the ones at fault. |
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ACH Direct is governed by the NACHA Rules which require that our customer accounts maintain a chargeback ratio on transactions processed through the ACH Network of 1% or less. This 1% threshold is not unique to our organization, but rather an industry-wide standard that applies to all organizations originating transactions through the ACH network.
While regrettable, under circumstances where a customer’s chargeback ratio and actions are not in compliance with the NACHA Rules, we do have to place a hold on the funds running through that account and/or in extreme circumstances, terminate the account. Before we are required to take any action on the account, we attempt to work with merchants to avoid such temporary holds. It is not our practice to randomly hold funds from customers and we did not do so in this instance.
We pride ourselves on our A+ rating with the Better Business Bureau and strive to provide our customers with superior customer service and every opportunity to access the ACH Network in a lawful/compliant manner. |
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