Arc Technologies serves as a…
Arc Technologies serves as a third-party payment processor handling banking transactions on behalf of Fifth Third Bank. Our high-volume medical practice relies on Arc for access to our banking funds.
We currently have an account set up through Arc Technologies to manage banking transactions on behalf of our medical practice. At present, Arc is holding over $30,000 of our business funds with no clear reason or justification. This has severely disrupted our business operations and cash flow.
Despite multiple inquiries, we have not received a valid explanation for the delay in releasing the funds. Arc Technologies is in clear violation of federal funds availability rules that regulate how and when banks and their partners must release deposited funds. This has resulted in undue hardship and potential damage to our ability to serve patients.
We are trying to resolve this issue amicably and avoid legal action, but Arc’s continued lack of responsiveness and obstruction has forced us to consider filing suit if this matter is not promptly resolved.