Review Time
After 2 years of using their services with no single issue, I had just one dispute (a mistake that my client did) and after providing all the documents and all the explanations, they closed my account without giving me any reason. And the worst part is that they are not letting me open another account.
Disappointing to say the least, as per the other reviews, they rejected my application for no reason given. Such a waste of time and support not helpful at all.I don't understand the way this company works.Anyway look for something else like PayPal and save your time.Wish I read the reviews first as well.
As per all the other reviews here - I wish I'd read this before wasting my time signing up for this service... They approved my account and after about £100 in orders were received, closed it down pending review.... Obviously I felt I had to comply with their unreasonable and some impossible demands. After uploading much sensitive personal information they replied after a week that they could not continue with supporting my business model! I am livid due to this not being mentioned when setting up and having the business model approved initially. There is nothing suspicious, or in any way risky with my business, and they didn't elaborate on any details but from the questions asked, it seems they were simply incompetent in understanding simple things. A total waste of time and they still have my £100. Who's the one taking the risk I wonder???
Oh I hate to do this but I'm just going to need to add to the already terrible reviews. I didn't come here to read first as I though this company was so big they would have to be good. I used paypal to process countless of payments but wanted to get Braintree. After waiting, I got my email of them declining my application for just no reason. Called customer service and no explanation really. However, it's worth saying that I'm one of the lucky ones as I've read other people's experience and it could have been worse for me. This company doesn't know weather its coming or going and it's definitely not for a company that needs stability. If you're lucky enough to read reviews before applying then hopefully you've avoided the biggest catastrophe of a company.
ATTENTION!!!!We used Braintree for only 2 months but this is our story:There were only 4-5 transaction processes because most of our clients using paypal. but ok, we talking about 100-200€, paid with Braintree credit card.Suddenly we got a message! Our account is frozen unless we provide Braintree with the following documents:- Itemized invoices complete with customer contact information, including phone number, services provided, and tracking information- Braintree (if Applicable)- Copies of your past three months.- A detailed invoice showing your inventory from your last supplier purchaseAccording to the German DSGVO we should not publish this data even! Now our account has been blocked and reported maliciously that we should wait up to 90 days for our money. IF we get this transferred at all.ATTENTION! This service is pure scam
Seems to be a scam of some sort. After processing with checkout.com for 2 years I looked for an alternative with lower rates and faster payout schedule. I also wanted to benefit from their high volume merchant rates (EUR 60,000+). I provided the salesperson with historic chargeback and refund rates of my account for last 180 and 30 days. Braintree did not seem to have any issues with my rates and instructed me to open an account, which I promptly signed up for. However, a day later my account was declined and closed! This is AFTER taking to the sales team and giving them all information they required. Apparently selling branded watches (think MVMT, Vincero) is considered high risk. Our chargeback rate while applying to Braintree was 0.43%. After notifying the Braintreee sales agent they re-opened my account and asked to send account statements from my largest balance carrying account together with statements from checkout.com. I've never encountered such intrusive due diligence with regards to company financials. The request is also highly likely illegal under GDPR. After sending the additional documents I received a signed service agreement, which I then also signed trough docusign. In any normal company a signed service agreement/contract means you're open for business. Apparently not at Braintree. A day later I received an e-mail stating my application was declined (although I already received a SIGNED service agreement) and that Braintree cannot process payments for my company. Apparently my chargeback rates were higher in the account statements. However, they were in fact 0.2% lower than I initially stated in the introductory call. The explanation for closing my account is therefore completely false. What normal business lies to potential customers? It's not even a subjective call, the chargeback rates were clearly included in the statements I submitted. Braintree turned out to be a complete waste of time and frankly, a liar. Judging by other reviews it may also be a scam. STAY AWAY.
Used to work with them for years. No problems at all.Suddenly the changed their bank (nothing from my side) and closed account (saying that one year before they sent some email) and asked to reapply to work with new one.Taking ages to get approved again, asking stupid stuffs. We sell domain names (as reseller) but they ask to be ICANN registered.Support does not answer questions, by phone impossible to get answers.Customer's cards are getting blocked by the banks (the security dept says that braintreecharge is marked as fraud)It is a scam. Better to move away from them before it is too late.We moved to stripe at the end, got up and running quick and it is also cheaper.
This company is the biggest scam in the internet. Super difficult to setup and it is the unsafest payment system, you will start loosing money very soon, and then they will close your account, start threatening you and take your money.STAY AWAY FROM THEM!!!
Wish I read this before. Same story. Got approved after an invasive underwriting process. It’s easier to get a 20k auto loan than to get an account. Use them for 6 month. Finally hit 5 figures per month then BAM risk evaluation and “holding funds” for 180 days. Luckily my lawyer was able to recover the stolen money. STAY AWAY!
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