Credit card company withdrew from bank account w/o authorization

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Joined: Mon Oct 22, 2012 8:27 pm
Location: florida

Credit card company withdrew from bank account w/o authorization

Postby yosmar » Mon Oct 22, 2012 8:40 pm

hi, we have a dba business and a contract with a company to make transactions with customers credit cards, one customer paid a certain amount, and the company hold the 50% and just deposited 50% on our bank, after that the customer open a chargeback, and the company start holding every transaction we swiped, so for that reason we stopped swiping customers cards.

After all, the case went into arbitration and we lost the case, and just $288 were missing to complete the money to give it back to the customer, but to our surprise the bank get into my bank account and subtracted the whole amount when they were holding the money of the transaction we swipe on their bank. Is this legal? Can they hold money for more than 48 hours?

If they have almost the whole amount hold, can they get into my account to get the whole amount of the chargeback? instead of getting the $288 were missing?

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