Any and all considering setting up a merchant account in order to accept credit cards need to avoid Innovative Merchant Solutions the merchant account services attached to Quickbooks. This service is not what it appears. There are numerous undisclosed fees associated with this service, even more alarming is what I have just experienced twice in the last two weeks. Innovative Merchant Solutions has a clause where they can hold your money for an indeterminate period of time to do a "Verification Investigation". My first experience occurred two weeks ago when a regular customer made his monthly retainer payment to me using the online service that I subscribe to through Quickbooks. This took over a week to resolve even after I submitted all of the information that they requested within hours of receiving notice that the money was being held up for verification. It took about 20 phone calls to get information and then I was then told that I had exceeded my monthly limit that the account was set up for, now I've used this service for a year now, have consistently processed the same amounts for about 6 months now.
Now they are holding and refusing to process a $4,000.00 payment from a client who had confirmed to them that they accept the charges and are forcing me to do a return and have my client pay another way. Additionally they are charging fees for both the incoming and outgoing transactions not to mention the interest that they earn while holding the money.
I have never had a problem with this account and have never had a chargeback or a complaint from any of my clients at anytime. This is nothing more than a fee generating and interest gaining scam perpetrated against honest business owners. Please beware and choose another Merchant Account Processor!