is the only way I know how to describe the business relationship I have had with First Data and Sam's club as my credit card processing service.
They lure you in with low interest rates, but beware they don't know how to speak the truth.
I negotiated for a week with Ronald C. (Sales Account Executive), I told him that I was not
interested in any credit card service with a statement fee, a minimum fee or an early termination
fee. Finally he agreed and he faxed over papers for me to sign. Then he said I need to sign an agreement on line to show that I had received the interchange qualification matrix and complete program guide consisting of 46 pages. What he fails to tell me and I don't see until it's to late is, client further acknowledges reading and agreeing to all terms in the program guide, which shall be incorporated into the client's agreement. Which really at this point doesn't mean anything has changed, at least it shouldn't have.
Now the fun begins, slowly the rates start going up, then the compliance fees go up, then your machine isn't compliant. Then I refer a business and am suppose to get $100 for the referral.
After about 2 months, I call and they tell me they will check on it. I call back a month later, still nothing. Finally I talk to a supervisor and I'm told it will be on my statement next month. Two months later, it will be there next month. I never did get the money. Then I started getting statement fees, I called and they refunded me the statement fee. Then I started getting minimum fees, I called and they said I always had minmum fees and they would not refund them. So I decided to stop taking credit and debit cards and wrote a letter and asked them to cancel my processing agreement. They called a couple of times trying to change my mind, but I was tired of being lied to and my agreement changed every time they decided they wanted to.
Then they debit $90 out of my account. I call and ask what it is for, yes you guessed it, an early termiation fee. I'm shy one month of a 3 yr agreement that I was not suppose to have, which I told them about and told them it was not on my agreement I had in my hand. They fax a generic copy of an agreement to me without anything filled in and no signatures and said see right here where it says that you signed and said that you received the terms of the program guide, well you have an early termination agreement.
Somehow this remindes me of BIG Government. The BIG Business Companies get bigger and bigger and the small ones' like me get put out of business. I really hope this 6+ billion settlement will provide payments and benefits to merchants that accepted Visa and MasterCard since 2004, and NOT the processing companies, after all it is our money not theirs.