Crescent Processing Company Business Owners Beware Dallas Texas

Yes if you cancel and do not return the equipment you received, you will be charged $700. It's on black and white in your Terms & Conditions page 2 in the fees schedule.

NO contract is legal unless you accepted the terms and conditions: Either by signing an electronic pad in the laptop or signed a paper application.

So with that said: If you did not sign anything and your signature was forged you will get your money back we all know that!

Now if you signed something, simply by trusting what the sales rep told you, WITHOUT READING, REVIEWING OR RESEARCHING what you signed then you are as guilty as the rep.

READ CONTRACTS!

This whole story about $700 seems a bit far fetched. I don't doubt that this merchant may have been charged that, but there has to be more to it.

I am a current rep with the company in another area, and have signed about 50 new accounts in my 4 months with the company. Only 1 of those has ever decided to not activate their terminal once they received it. He called and talked to my corp manager, and got a bit of an ass chewing from him, granted, but at the end of the day the guy sent the terminal back utilizing the prepaid label, box and packing materials, and just went back to probably getting ripped off by his old processor. CPC never charged him. I, of course, did not get a commission on that one.

Someone could technically be charged a $495 cancellation fee once they sign and confirm an application with CPC, but this never happens unless they cancel without a good reason after activating a terminal and agreeing to process with CPC. This rarely happens also, partly because CPC is usually a better overall deal than whatever the merchant had before and/or because of the $495 cancellation fee.

Nobody is charged $700 for a terminal unless they straight up cancel the service and then fail to return the terminal (which can be verified by the pre-paid FedEx tracking number). Even if an existing customer breaks a terminal intentionally (a terminal that they never paid for to begin with), they are usually only charged a $60 restocking fee. The only time the $700 comes up, is in association with the full value of the CPS's terminal, which quite frankly, is one of the more advanced terminals on the market. It's basically an slightly upgraded hypercom t7p.

Anyway, I don't necessarily agree that the merchant has to read the 22-page terms and conditions booklet word-for-word or else he is as guilty as the rep (my customers are always quite clear about the rates/fees), but I also doubt that CPC ripped off $700 the way he is claiming.

Come on $700 for an old ( at least 3-4 generations of equipment) refurbished Hypercom T7. You guys can buy them refurbished in Dallas by Hypercom for $90. And as for a $495 deconversion fee, how do you justify that if the industry average is $195 to $250 ? Just a few questions, as it seems a few companies give the whole industry a bad name.

If it really is that cheap to get a Hypercom T7P, then every company should give free equipment. Only about 50 out of the 500+ on the market have any type of free equipment offer, and most of those come with strings attached, like having to maintain a monthly quota or having to pay for upgrades.

The $495 cancellation is a little higher than most, I'll give you that, but merchants only pay for that if they cancel early and they usually know that beforehand.

On the flip side, Crescent usually pays the merchant's previous processor's cancellation fee for them when they sign up, and so any other legitimate company should pick it up for them as Crescent does.

Finally, they are not chared the $495 if they close or sell the business or if, for some reason, Crescent declines to pay a previous processor's cancellation fee b/c it is to high.

No one company is suitable for every business, but Crescent is one of the best values overall.

Equipment was mailed to us when we did not request it, it was never activated, we sent it back to them using FedEx but they charged us $700 for the equipment.

Be wary when approached by their salesmen, they do not represent the truth about the company.

If the equipment wasn't activated and you didn't return it to us, yes you would have been charged $700 for the terminal. I believe this to be a standard practice with any company. Even after a terminal is activated, there is window for new merchants to cancel our service and return our equipment with a restocking fee of $50 or $60.  We even provide you with a box and shipping label to do so if you choose.

You were provided with a copy of our Terms and Agreement prior to your confirmation call. This document includes all of the fees, services and early termination charges etc.. it is the merchants responsibility to return the equipment in a timely manner in the same condition in which it was received. If the equipment wasn't activated, there would have been no reason to open the box. You could have just refused it and cancelled the service. 

We provide each and every new merchant with all of the information they require from us prior to signing a contract. If we are presented with any questons that we do not know the answer to, we contact our managers for the answer.  Each merchant has the opprotunity to ask , and they should ask, questions before signing an agreement or conract with ANY company!

As a CPC rep., I take pride in the way I approach and sell a system to a new client. I would never risk tarnishing my integrity by being deceptive. In fact, I encourage my clients to ask questons and also provide them with my personal cell phone number! I even answer it when it rings!