Tuesday, May 22, 2018

It seems it really IS risky to do business with Intuit!

Yesterday I noted that "Clearly, you do business with Intuit (Quickbooks, TurboTax, etc.) at your own risk".  This followed Intuit's cancellation of its contract with Gunsite Academy, and its deliberate withholding of funds from that institution, returning them to its customers rather than paying the debts incurred at Gunsite by those customers.

It seems they're at it again - this time to the tune of $150,000 - for a non-firearms transaction!

On May 11th, Lone Wolf made two of what would be three transfers to Flint River. On May 14th they completed the third transfer. The transfers were made through Intuit’s QuickBooks merchant services; Flint River Armory had a merchant account for the purpose of credit card and ACH payment processing. At the time of the transaction, Flint River’s QuickBooks merchant account had been in place for around six weeks. According to Intuit’s own marketing blurb, merchants can use QuickBooks “to get paid 2x faster” – or not.

The transfer in question wasn’t for firearms, it was a separate business transaction. I’ll state that again: it had nothing to do with either components or complete firearms. The total amount of the three transfers: $150,000.

The money was withdrawn from Lone Wolf’s account by Intuit within thirty minutes. In accordance with standard business practices, it should have been deposited into Flint River’s account with relative speed. Instead, there was no sign of a pending deposit. Instead Intuit abruptly terminated Flint River’s merchant account.

Thus began several days of Flint River contacting Intuit three and four times a day. Finally, after approximately fifteen phone calls – each of which they documented – Flint River’s accountant got someone on the phone who would answer some of their questions. The accountant called John Heikkinen into his office, put the woman on speaker phone, and waited to see what she’d say.

Intuit had decided they would no longer do business with firearms companies, she told them. Flint River’s QuickBooks merchant account had been closed down because they’re a firearms company. Their other Intuit-owned services would also be terminated.

Intuit continued to deny John’s request for documentation of the transfer being reversed. In fact, they refused to provide documentation of any kind.

Meanwhile $150,000 of Lone Wolf’s money was being held by Intuit. That meant Intuit was earning interest on $150,000 they claimed they didn’t want (because, guns, even though, again, the transaction wasn’t for firearms or components). While their exact interest rate is unknown and bank savings rates vary widely – Capitol One’s is 0.75% APY and Synchrony’s is 1.05% APY – the current Federal Reserve Funds rate is 1.75%.

. . .

How would Intuit feel if we, as an industry, dropped them? No more QuickBooks, no more Mint, no more TurboTax. A little something to consider. A project for our readers: back, frequent, and support businesses that support the Second Amendment. Money talks, guys. Make yours sing.

There's more at the link.  Bold print in the final paragraph above is my emphasis.

I have no hesitation in calling this complete lack of response, and failure to return the funds immediately, as being at best ethically questionable conduct on Intuit's part.  Depending on the facts of the matter, I suspect it might even be legally questionable, as it was done without explanation or prior warning, and might therefore be portrayed as a deliberate entrapment of customers' funds in an effort to hurt their business.  I'd certainly be suing Intuit for every cent that they earned in interest on the money while they were holding it, plus damages for any opportunity cost to my company as a result of their holding on to my money, plus punitive damages.  I think I could make a very strong case in court.

Folks, it's now quite clear that Intuit doesn't give a damn about its customers - only for the politically correct flavor du jour out there, whatever it may be.  If it's firearms-related businesses today, it'll be Christian-related businesses tomorrow, or wedding organizers offering marriage services that adhere to religious rather than secular standards, or those offering rental accommodation who insist on criminal background checks for prospective tenants.

I personally plan to never again use any Intuit product or service.  In fact, I'll be asking prospective vendors whether they use Intuit's payment processing facilities, and if they do, I'll be taking my business elsewhere - after telling them why I'm doing so.  From now on, Quickbooks, Quicken Loans, TurboTax, Mint and Intuit's other offerings are on my "Do Not Use Under Any Circumstances" list.

I call upon all my readers to do likewise.  I can only describe Intuit's policies, behavior and attitude, as revealed in both these cases, as discriminatory, unfair, unjust, and intolerable.  If you agree, please contact Intuit by telephone and/or e-mail and/or snail mail to tell them so.



Aesop said...

Financial fraud over the internet is a federal felony, IIRC, investigated by the FBI, and prosecuted by the US Attorney's office.

Filing your own civil charges in federal court is just icing on the cake.

Just saying.

Intuit can stop this when it stops being funny, but once the crime is committed, it's pretty much too late to stop that train from leaving the station.

dave said...

Bastards just e-mailed me to upgrade to 2018, as they're no longer going to let 2015 users subscribe to their banking services. My reply:

Dear Mr. Longworth [Senior VP, Marketing]:

Recent news stories have detailed your treatment of Gunsite, Inc., as well as transactions between Lone Wolf and Flint River. As a proud supporter of the Second Amendment, I must therefore advise you that under no circumstances will I do any business with your company in any form. In point of fact, I will seek out options to contribute to the legal fund of anybody who wants to sue over your reprehensible behavior. This letter shall serve as notice that our business relationship is officially and permanently terminated; do not contact me for any reason after this time.

May the courts curb-stomp your company into oblivion, and may your crotch be infested with the fleas of a thousand camels.


David C. Buckles

I also tried calling. I got the "higher-than-normal call volume" message, the "please wait for a representative" message, then the call dropped.

I do believe they've stuck their dicks in a hornet's nest!

SewerDweller said...

You mention 'there's more at the link" but I seem to be blind.

could you point out the link, I'd like to read the article.

Anonymous said...

Turbotax is no longer of any use. They'll be getting an email adn a phone call tomorrow. Dave, your reply was classic. Well done.

Rick T said...

Even more reason to push for tax law simplification.

If your whole return fits on a 3x5 card there isn't any reason to pay someone else to prepare it.

Dave said...

Has Intuit lost their minds?

If you're sitting on $150 grand, it better be at the behest of a court order.

Old NFO said...

Yep, they have truly screwed the pooch!!!

Unknown said...

Perhaps with a little luck and good lawyers, Funding could end up OWNING Intuit & Co., And be able to provide bullshit-free credit card processing to the gun industries small businesses; gunshops all over have had these problems, if not as blstent as this crap...

Unknown said...

I mean t GUNSITE, not "funding"... Damn a dumb phone "spellcheck".

Bob said...

Most satisfying.

By that I mean it is most satisfying to see the 30-something college brainwashed white-male-hating SJW LGBT and feminist lesbian loonies that have infested and poisoned so many of our businesses and institutions starting to get the shaft they so richly deserve.

I need to stock up on popcorn.... because the show is just getting started.

This comment has been heavily edited to remove the more colorful descriptives.


Scott H said...

Were I Lone Wolf I would sue as well. By half processing the transfer, they have stolen the money from me as much as from Flint River. They have also done damage to my business reputation in that an invoice has not been paid by me thus damaging my credit.

Roy said...

I don't get it. How can Intuit keep funds that are part of a legal transfer. IANAL but it seems to me that Intuit has committed a crime.

The Freeholder said...

For what it's worth, I've never done business with Intuit. I've been in IT for 30 years, and that is one of the shadiest bunches I've ever seen. No ethics or even standards at all.

drjim said...

I'll suggest to my wife that we no longer use TurboTax.

Robohobo said...

I have been a TurboTax user forever. No longer. I will seek alternatives.