North American Bancard Complaint - They Didn't Deposit Our Sales - And Didn't Tell Me!
ROCHESTER, NEW YORK -- I have a small retail art gallery. We have only several sales each month, but the sales we have tend to be for fairly large amounts. When I reconciled my February checking account statement on 3/6/09, I discovered that the proceeds of a credit card sale from 2/14 had not been deposited. I called NAB, and was told that the account was in review. I finally reached the "risk reviewer" on my account. She said that her actual concern was a sale we processed on 1/9/09. Since this was a sale from out of state, we didn't swipe the card. Further, the large round number (not unusual in my business) looked suspicious to her. It turns out it exceeded our approved limit for telephone sales. Fair enough. She let that money go into our account. Then, instead of contacting us for further information or verification, she put our account on hold, and stopped making deposits for future transactions, even when we swiped the card. NAB never told us this. We received no letter, no email, no phone call, and no further money in our account. She apologized and said it was an oversight on her part. The processes of this company should not allow for such "oversights." If she was concerned about that transaction, she should have contacted us promptly in January, not arbitrarily withheld any subsequent and obviously valid transaction. I don't know if they ever would have contacted us had I not made the inquiry. And, if I had not reconciled so promptly, I could have started bouncing my own checks when the expected monies were not actually in my account.
On March 6, I had to fax her a copy of the receipt from January, and she contacted our client by phone to ensure we hadn't fraudulently charged him. After talking to our client, NAB has said they will release our outstanding transactions on the next business day(i. e.,today, 3/9).
On the plus side, the woman with whom I dealt was polite, even after I went up one side of her and down the other. The problem was resolved quickly. But it never should have happened.