FIRST DATA GLOBAL LEASING WELLS FARGO MERCHANT SERVICES LIARS THIEVES FRAUDS IDIOTS LOSERS INCOMPETENT SCUMBAGS MELVILLE , New York

As I mentioned before the leasing company is nothing more than a financing company.  In this case Wells Fargo should not have leased the equipment when they can sell it to you.  Why would they do this, its called more revenue.   I would let your local branch banker know how their vendor they recommend screwed you put pressure on them.  If they will not help you, vote with your feet and bank someone else.

Next time do not go with your bank for processing credit cards.  Look for a independent representative.  Get references  and look for a Certified Payments Professional (CPP). I hope this helps.  Ray at Tampa Bay Merchant Services.

 

It does not matter that you returned the equipment. Sadly, when you lease equipment you are entered into either a 36 or 48 month contract. Due to your illness I would keep trying to get out of your lease. I know it can be done. If I was in that department I would help you.

  I had the same problem with the company. I had opened a small arts and crafts shop, but I have a rare disease and it took over faster that I thought it would. I became wheelchair bound and could not get into to the store due to stairs and the art studio being upstairs. So I had to close my business and cancel my merchant account. Cancelling the account seemed really easy. I spoke to a man and he told me it was going to cost $500,but change because he saw that I got it thru Sam's. He then told me it would be $90. I payed him. and asked him if that was all he said yes. The next money came out of my account, again I called I got the same man I asked him why did they take money out of my account, he asked me if I had sent the machine back. I told him no, I didn't know where to send it and he gave me address.                     

Well, I sent the machine back and guess what? The next month money was taken from my account. I called First Data again, this time I got a woman, I told her what had happened and wondered why they had taken money from my account. She flat told me I had signed a 4year contract and owed $884 when I had told I already paid $90 and sent the machine back I was told I did not owe any more money . She put me on hold and then came back and informed me she had heard the call but the man had made a mistake I still had to pay $884. I told I was not going to pay for something I no longer had because I was told to send it back and I did. She said I did, I told her fine then take it to court I"ll take my chances with the judge for one thing I an on disability they will not garnish my wage but they might but a lien on my house,but then you will have to wait a long while to ever get your money and then hung up on her. I closed and moved my bank account. Their collectors called a few months saying they would negotiate down to $550, I told them they could just keep calling because I wasn't paying, I did find out that the first man I talked to was with the merchant account at First Data and the woman I talked to was with Global Leasing. I Finally got tired of messing with them and talked to the main manager of Global Leasing whose name is Terry Van, I told my whole story and why I had to close the store. She told me to get a letter from a doctor stating that I was on disability and could not work and she would drop all charges. Which they did. So for as bad as they are they still can be thoughtful enough of the disabled and if you have a problem call the manager and try to work something out but you will have to have a letter from your doctor on their letterhead because she told so many people have tried to get out of their contract saying they were ill. Kay 

Let me say from the start I am not here to defend First Data Global Leasing. What most people / business owners do not realize is that they are nothing more than a financing company for the merchant service provider who uses them to help place terminals.  In theory, if a business can not afford or have the capital to out lay for the equipment then the leasing company pays the merchant service provider the funds.  The leasing company collects payments to earn back what they paid to the merchant service provider.  In most cases the leases are set up for a 48
month term.  The leasing company could care less if they receive the equipment before the end of the term, because they paid out funds to the merchant service provider.  They cannot resale the equipment for anything close to what they paid merchant service provider.  This is where the problem is, the merchant service provider is who is bring the leasing company to the table.  The merchant service provider in reality earns a big commission from the deal.  The merchant service provider should offer to sale the equipment to you as an additional option.  The merchant service provider will earn more money if you lease the equipment.  For example let say the lease payment is at $35 (this is a low payment, I seen some as high as $99) for 48 months, that is $1,680 you would pay for the equipment.  The merchant service provider probably paid less than $300 for the equipment and earned a commission for over $1000.  Also the $35 does not include taxes the leasing company will collect from you and insurance that they will mandate and the intangible tax.  To end the lease, you have to make all payments and then return the equipment back to the leasing company.  That right you do not own the equipment. You can keep the equipment if you purchase it from the leasing company after the 48 month.  It called a residual value.  Most of the time the factor is 10% of the aggregate of the payments.  In the above example you will need to fork over around $200 to now own the equipment. Also one other note, the leasing company will not remind you that you completed the term, because you have not until all payments are made and the equipment is returned.  YOU have to initiate the return to end the lease and payments. 
I have seen situation where some were still paying after 8 years.  No one told them.  Beware when you call in the leasing company will try and talk you out of it by saying something like, if the equipment breaks while leasing we will replace it. Let me tell you from experience you will pay hell getting them to make good on that.  The other thing they might offer is a new lease and equipment.  DONT DO IT!!!

Bottom line you are much better off to purchase the equipment from a reputably source and have a good merchant service provider that offer their insurance where no matter what happens to the equipment, it is replaced free of charge, including shipping, if that is a concern.  Ray with Tampa Bay Merchant Services.  I hope this helps.