Worldpay have held my funds for over 13 months

Discussion in 'Ecommerce Forum' started by beaniceperson, Aug 10, 2018.

Thread Status:
Not open for further replies.
  1. Gordon - Commercial Finance

    Gordon - Commercial Finance UKBF Ace Free Member

    2,531 889
    Have WorldPay said anything about the reason why they're withholding the funds? I know there's some vague stuff about reasons why they might above but have they said anything specific about why a particular transaction has led them to withhold the funds?
    Posted: Aug 13, 2018 By: Gordon - Commercial Finance Member since: Jun 26, 2017
  2. TotalWebSolutions

    TotalWebSolutions UKBF Ace Full Member - Verified Business

    2,624 617
    Exactly my thoughts on this. There must be something specific to this transaction that they really don't like if they have never had a problem with your transaction previously (presuming they have always been for the same/similar services). What have they said about other transactions that have gone through around the same time (and since) ? Are they now classing you as a high-risk business or is this a one-off isolated case?
    Posted: Aug 14, 2018 By: TotalWebSolutions Member since: Sep 29, 2009
  3. beaniceperson

    beaniceperson UKBF Newcomer Free Member

    7 1
    Hi they refuse to provide me any further details.

    As I say I’ve not had any issue before at all

    They say their stance is final and as the decision can not be changed. I am not even worthy of a detailed explanation I am really disappointed in how my account has been handled. I am just amazed they can do this to the point I felt I had to share it with the forum to see what everyone else’s thoughts are on this and what my next move should be.

    I literally have been told only what I’ve already told the forum in previous posts. It’s disgusting behaviour even if it may be legal. On a moral level I deserve real explanations not references to generic clauses in an agreement.

    Worldpay forget we are not just numbers
    Posted: Aug 14, 2018 By: beaniceperson Member since: Aug 10, 2018
  4. Aytsham Akhtar

    Aytsham Akhtar UKBF Newcomer Free Member

    1 0
    World Pay is robbing its clients blindly based on 'it says in our terms and conditions'.

    My account with world pay was closed over 2 years ago and they withheld £1650 as in their words they thought it was a 'suspicious of a transaction'. I was being dealt with a extremely rude and very frustrated man by the name of 'Paul on the transaction monitoring team. To be fair none of the staff in any of the departments i dealt with were competent enough which explains why they rank 55th out of 55 companies.

    I was told by this Paul to provide all recipients etc which i did, to which at first i was told this is a handwritten receipt then after me explaining this is how we write our receipts for goods as we are a new business, like a million other businesses out there . He said ok but they will hold the funds for 120 days and then if there wasn't a recall we would release the funds to you. But obviously this is a tactic they use frequently reading the comments in a few different forum just so there is no chance of a recall, as they know they cant take on the banks. So they wait for this time to lapse so that legally the banks cant get it back and then they just keep this money which they technically have robbed off us small businesses.

    Anyway after the 120 days when I inquired the same person called Paul, told me that they were holding the funds indefinitely and that i should get legal advice. I suppose they work on a balance of probabilities that how many people would go to court or seek legal advice bearing in mind the added costs, so its easy takings for them. If they do that to a tenth of their customers they can make millions ( which they probably do).

    I wasn't going to let them get away with it so i followed their complaints procedure and raised numerous complaints to which i just wouldn't get a response to. I would phone in and be passed around from department to department. Each time i would be promised a call back but in over 2 years never received a call back.
    Then after over 2 years of trying to get a answer to my complaint i contacted the Financial Ombudsman Service a few months ago and explained everything to them. They then helpfully wrote to world pay and asked them to send me a final answer to my complaint so that if it was a negative answer then they could look into it.
    Obviously it was negative response and the Financial Ombudsman Service is dealing with it. I have had a initial response from them and the adjudicator has said that she believes the World pay has acted within their terms and conditions. I've disagreed with her initial response so she will hopefully look at it again.

    I am absolutely disgusted that how have world pay been able to get away with doing this to companies like mine for such a long time now. I think its about time that there terms and conditions are fully dissected by the regulatory bodies and re-wrote so they can not get away with such day light robberies.

    Can anyone advise on this. As the ombudsman route isn't looking good.
    Posted: Oct 12, 2018 By: Aytsham Akhtar Member since: Oct 12, 2018
  5. quikshop

    quikshop UKBF Big Shot Free Member

    3,704 718
    I got Renault to cancel a PCP car contract for a friend earlier this year by making a lot of noise. I was all over the local garages and main Renault social media pages, I contacted the Telegraph and local papers asking if they'd take up the story. I also let Renault know I was making this a national news item.

    The Telegraph reporter was very keen to talk further about the story but the local dealership changed their mind and cancelled my friends PCP contract without penalty and took the car back.

    I suspect Worldpay would be a tougher nut to crack but if you are single minded enough to make polite but persistent noise you might get a "gesture of goodwill" from them. I'd definitely go down the newspaper route though, they're always looking for good copy.

    Good luck!
    Last edited: Oct 16, 2018
    Posted: Oct 16, 2018 By: quikshop Member since: Oct 11, 2006
  6. Chris Ashdown

    Chris Ashdown UKBF Legend Free Member

    12,044 2,510
    As a first option take out a money claim against them via the couts or get legal representation

    If its been going on this long it is most probably to do with money laundering
    Posted: Oct 16, 2018 By: Chris Ashdown Member since: Dec 7, 2003
  7. MikeCC

    MikeCC UKBF Contributor Free Member

    46 9
    At the very least, make sure you have another merchant account set up before going further.

    If they are relying on their contract terms, they should be able to give you evidence of why they believe the position is as they say.

    Have you tried CEO-level letter explaining your case? If no joy after that, then a letter before action asking for payment within 14 days. Maybe get a solicitor to draft so it is robust. Make sure it goes to the right place. If no payment, file claim.

    Ombudsman route might work but will take months. However you might get compensation that way.

    RBS have no stake in WorldPay - they are owned by US-based Vantiv.
    Posted: Oct 16, 2018 By: MikeCC Member since: Sep 25, 2013
  8. adamuk18

    adamuk18 UKBF Contributor Free Member

    98 7
    They are crooks!

    Last year I had an account with them and they held on to 15k of my money. I had a customer do a charge back for 10k and got the money but had to wait for the other 5.

    I actually stopped taking card payment for that particular business over £100 and instead used to accept cheques or BACS.

    never caused me any problems with customers.
    Posted: Feb 16, 2019 By: adamuk18 Member since: Oct 2, 2018
Thread Status:
Not open for further replies.