Federated Payment Systems
2 Huntington Quadrangle 3rd Floor North Wing
Melville New York 11747
U.S.A.
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Federated Payment Systems Careful future and current sales representatives Melville New York
*Consumer Comment: Simple Solution
1Author
3Consumer
1Employee/Owner
I worked for this company for a very short period of time. Initially, I was very hesitant to move forward with this company, and was pursued by National Sales Manager, Scott Avery. Mr. Avery finally convinced me to come to training by saying "Try it out for at least 30 days, if you don't like it, we'll pay you residuals for as long as the client stays on the books.".
Lived up to my end of the bargain and worked for the company for a little over a month, and ultimately decided it was not for me. The ultimate goal in this form of business is to charge the client as much as you can, as the more you charge, the more you make. Since I did not like ripping off small business owners who work hard for their money, I pursued other forms of business where I can sleep well night by providing a value added service to businesses, and the price is the price with zero negotiation.
Bottom line, they paid me residuals for a few months and than stopped with absolutely zero notice. I attempted to call Scott Avery for several months, and he never returned any of my several messages, When I grabbed him on the phone live, he told me he was busy, and said he would call me back, which he never did.
After numerous attempts, he finally responded back to me in email as he was obviously afraid to speak with me live, stating that according to the contract I signed, if I do not sell 2 deals in a given month, than the company does not have to pay me any residuals. I recently came accross one of their job postings on Monster.com, and they advertise Lifetime Residuals. Protesting to Mr. Avery via email, as it was the only way he would communicate with me, that it is not what we verbally agreed upon, he dished it off as a signed contract and I could not do anything about it.
Seeing my residuals were about $150/month, and I am close to a year since they have not paid me any residuals, the company owes me $1,800 and growing.
If you are considering working for this company, I would highly recommend you reconsider, or make sure to go through your contract with a fine tooth comb. If you are a business considering utilizing Federated Payment Systems Services, make sure to shop them, and by all means do not take the first offer they give you. The rate is always negotiable, and I would recommend shoping to at least 2 other vendors before coming to a decision.
Hope this information is helpful to other people, so they can avoid being lied to by representatives of this company, and making sure to protect themselves at all levels.
Recently worked for federated
Boston, Massachusetts
U.S.A.
Click Here to read other Ripoff Reports on Federated Payment Systems
REBUTTALS & REPLIES:
1Author
3Consumer
1Employee/Owner
Updates & Rebuttals
#1 Individual Responds
AUTHOR: New York - Commack (U.S.A.)
SUBMITTED: Saturday, January 26, 2008
POSTED: Saturday, January 26, 2008
Here is the real story,
Jeff **** came to work for Federated Payments while still working for Aflac selling additional insurance benefits to company employees. Mr. **** had told me he needed to clean up some deals that were ready to sign with him at Aflac and wanted to work a part time schedule. I approved this as we normally work fulltime employees.
Jeff sold a few deals including his family's optical shop and some additional friends and related business. Jeff told me after a month he had been offered a group of deals a former district manager for Aflac had left on the table and it was too much money to walk away from. He asked for 3 weeks off to close these deals and would return to Federated.
After over a month and many calls to Jeff he finally answered my call. I asked him if he was ready to come back to work, as it was actually over 6 weeks since he had been working for us. He made several comments that lead me to believe he would be back on board with us soon so I extended his residual payments.
Note, Jeff signed a bold residual payment addendum as all sales associates do. This agreement clearly states the criteria to maintain residuals with Federated.
Jeff led me on for another 3 to 4 months and we did pay him residuals in this timeframe. After about the 5th or 6th month we stopped his residuals and he started to call and complain. He stated he crossed off the criteria on his contract regarding residuals and wanted to get paid and maintain this small monthly income, that was coming primarily from his family and friends business. I reviewed his contract to see if I made an error but that was not the case. I believe I even faxed the agreement to Jeff and he became more upset and started threatening legal action. I let Jeff know that he start working again for us I would reactivate his residuals. He refused and made a statement that I would be sorry.
Jeff **-** simply did not uphold his contract with Federated and is stating lies and on the verge of slander and facing legal action if this is not corrected. If there was any validly to his claim he would have retained an attorney pursued action.
If you're an employer and this man interviews with you, beware! He may start trouble and create more deception and fabricate the real truth.
Federated Payments stands by our service and has thousands of satisfied customers. Please feel free to contact us and allow us to show you how to save money with our low offer guarantee.
Thank you,
Scott Avery
Senior VP of Sales
#2 Ex-Employee
AUTHOR: theyrippedmeoff - burlington (Canada)
SUBMITTED: Wednesday, November 03, 2010
POSTED: Wednesday, November 03, 2010
I previously worked for Federated from 2008-2010. I was extremely please with all of the support and service they provided. When i first started as a sales rep, i was a bit nervous as it was all new to me. After a few weeks it took right off.
The reason I am posting this is because a friend of mine recently started with Federated and he happened to stumble upon this posting and I felt compelled to stand up for Federated and provide some good info about them.
The support that Scott Avery and his team offer is second to none. I even visited the office for a Christmas party and got to meet everyone. I was shocked to see over 400 people at this event.
I was always paid right on time and accurately. In fact, even after I left due to personal reasons I still continue to receive my monthly residual income right on time every month. My contract with them said I had to remain an active rep for at least one year and sell 2 account per month to receive ongoing residual income just like the person who started this post said too. I did my part and they held up to their end perfectly.
I have over 200 clients in the GTA Ontario area and i live right here as well. I can honestly say 99.9% of them never have problems with the service. I have 1 person who had some trouble getting setup but that was because they were using a system that we informed them wouldn’t work very well.
The best part about working for Federated is the residual income. I haven’t been with them for 8 months now but still receive a direct deposit every month for just over $3800. they split the monthly revenue on the accounts i signed with them 50-50. i couldn't be happier as this income is going to be there for a long time.
Bottom line, Federated is a great place to work and make a TON OF MONEY!
Hope this helps,
Tim P. - GTA
#3 Consumer Comment
AUTHOR: opus - Calgary (Canada)
SUBMITTED: Monday, August 08, 2011
POSTED: Monday, August 08, 2011
MSI/ Federated appears to be in the'Ex employee & contractor threat business', given the adversarial tone of thier responses.
They appear to be unaware that new agents read these reviews,& make the decision to either stay away- or if in, to get out- fast.
I work for a competing company - It simply is a competitive industry to sell in. No agent needs a head office 'boat anchor'.
#4 Consumer Comment
AUTHOR: Ray - Stockbridge (U.S.A.)
SUBMITTED: Saturday, September 10, 2011
POSTED: Saturday, September 10, 2011
What kind of a jerk are you? If what you were doing was so bad and weighting so heavily on your concience, why in the hell would you be interested in receiving residuals from this horrible company? Seems to me if they were so bad, you would being doing all you could do to put them in your rear view mirror and repairing the damage you did to your family members and clients (no mention of that in your post!) Instead, you have your hand out asking for more of the dirty money from this company.
Additionally, since when do so-called "verbal agreements" trump "written agreements?" Especially those that you sign voluntarily? Lastly, where in the world can one work for 30 days, sign-up a few accounts and receive "lifetime residuals?" I don't have a dog in this fight, but if I did--he'd be biting you square in the ass. I hope this company does sue you for liable! You're not even a good liar! Shame on you for even posting this non-sense....
#5 Consumer Comment
AUTHOR: FreedomUSA - Silsbee (United States of America)
SUBMITTED: Sunday, April 08, 2012
POSTED: Sunday, April 08, 2012
Very simply, the gentleman filing the original complaint has nothing worth talking about. If the contract states that you have to produce two contracts per month to receive residuals, well that is the contract. When I was new to this industry, I too signed with a company with some type of production requirement in order to receive residuals. I was new to the industry and did not know this was not standard practice. After signing some 30 accounts and receiving not one dime in residuals, I moved on to another company that pays full residuals from day one with no requirements. I now represent multiple companies and draw my residuals each month. The difference is that the contracts I signed plainly stated that I get these residuals without having some production requirement. This is especially important to my company since I represent multiple processors and some months may not sign an account to a particular processor. On the other hand, I may sign 5 or 10 accounts the next month. Bottom line, read the freakin contract! You do not like how it works, don't sign it. I personally think Federated is a good company but because of the production requirement will not be able to use their services but that is my choice and I certainly do not blame them.
