Complaints

This profile includes complaints for Preferred Payments's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Preferred Payments

  Westlake Village, CA 91362-4049

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  Preferred Payments

  4580 E Thousand Oaks Blvd Ste 300 Westlake Village, CA 91362-7219

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:02/19/2025

  Type:Billing Issues
  Status:

  UnansweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On 11/16/20, I signed an agreement with Preferred Payments as my account servicer, with an big ISO of a bank as the card processor for my business. The agreement explicitly states in the schedule of fees that there are no early termination fees & no charges for an inactive act. On 9/20/21, I sent Preferred a cancellation notice to my only contact and acct rep. I received no calls, emails, nor statements that would indicate my account was still open. 3 years later, 7/24, I received a call from Preferred. The rep was just as surprised as I was when I told him my acct had been closed, as he informed me it was still open. At that time, I still did not realize that my acct was incurring charges. After closing both my business, I received an email fm the ISO in 12/24, stating that my acct was in collections. I contacted Preferred & asked them to correct the mistake, as I had canceled my acct in 2021. Since there had been no activity on my account, there was no justification for the charges, which totaled approx $2,000 in deductions since 9/20/21. The Operations Director, refused to take responsibility for the fact that my acct sat inactive for over three years w/o any services rendered. Instead, she insisted that since I had not submitted a formal cancellation form, they could not refund my money. It is not the client’s responsibility to ensure that their merchant acct is properly serviced or that they formally follow an internal cancellation process that was never disclosed. This is a clear breach of contract. I have not once been sent any other documents requiring signature of any other terms.
  The failure to process a formal cancellation form and the complete lack of acct servicing do not justify the unauthorized monthly fees deducted from my bank account. These charges directly violated the agreed-upon terms upon accepting service, which Preferred Payments was responsible for overseeing and enforcing as the account servicer.

  Business Response

  Date: 03/06/2025

  hello - this data was being sent to my old email address which is why we did not respond. we would like to respond please as this customer has been very difficult to deal with. We have followed our guidelines and what she was requestes broke the contract she initially signed. we'd like an opportunity to respondthanks