Where to start. !st a call to our corp office w/ great promises for those customers needing finance with out credit. Guaranteed to $5000! We have a furniture & mattress store, are close to the military bases & use all kinds of reputable finance companies - of course, most require at least moderate credit history. This was supposed to help w/ those customers that are employed, have a checking acct. Supposed to pay off within 90 days - sure it will. Here's my story:
So the owner meets with his sales staff to learn more about this 'opportunity'. He also buys a check processing machine for $2000 required to process the checks. Little does he know they will also charge us $10 per month for this 'service' & an additional $10/month as well for the credit card processing that we never did do w/ them. There are also many other 'surprise' charges = $85 annual fee, another $14.95 & $89.50 for warranty & machine 'maintenance' that just magically disappears from our bank acct every now & again. This machine is available online for $550 every day of the year. Trying to get answers from the poor (& I DO feel bad for these people on the other end of the phone after you sign up w/ EPS 90 - they try to be helpful, but the whole system is impossible).
Following these accts must be done online thru their electcheckplus site. You have to as a bookkeeper try to follow a very un-straight path with these accts. When they go into your acct, of course they have taken their fees & 7% out first - the check you look at has nothing to do w/ the actual deposit amount. As if that weren't hard enough, sometimes the actual check is on 'hold', NFS, in 'collections' & you just wait & wait. We even had 3 checks deposited per their site but dated back to before we had started the service with them - hence not deposited & yet they said it was. It took me 6 months to show & show & repeatedly ask about those funds before voila, it was straightened out & we finally got our money. (the post said the deposit date, but in 2010 - not 2011)
THEN they had the gall to contact other companies in a like business as our & tell them we were thrilled!
Of course the salesman for EPS was 'fired' & never again were we allowed to contact him.
We wrote some $38,000 in invoices & delivered that much in product out of our business - After more than a year we are still waiting on ~$2400 w/ some 6 accts. Not sure where that EPS/Financial Services of America $5000 guarantee went.
We are VERY unhappy w/ the service & the system & the lies.
When it goes well - other than the percentages everything is great. The few that go bad, whew! Seems pretty much 'good luck w/ that'.