Be careful when applying for credit card processing services with Global Merchant Services. The sales person I dealt with, Guy G., seemed to be very positive and knowledgeable, but in the end he took advantage of a small company in order to get a sale.
I was charged $149 and told my account was approved. After less than 4 days of processing, we were sent an email from the Risk dept stating that our account was closed and we could no longer process.
Obviously I was shocked (aside from the fact that this company communicated very well during the sales process, but I get no call explaining, only an abrupt email from someone I'd never spoken to). My business was immediately effected, as sales were stopped instantly - of course.
When I was finally able to speak to my sales rep, I was informed that underwriting had decided that we were too risky for them. This is where I learned that you are actually "approved" and charged BEFORE underwriting actually reviews your application. If this is not the case, then someone please tell me how we were shut down after the underwriter took one glance at our website.
In the end, I did ask for a refund of my application fee, and was told by the sales person that he was "going to try". After a few more emails to/from him (and he was extremely unprofessional in his responses), and a month or more, I filed for a charge back. My CB was denied, as the sales person responded that I was "acting out of anger" and that my company "withheld information on the application".
This statement is untrue, and if the underwriter (and anyone else on Earth) can take one look at our website and see what we do, anyone would know that we did not withhold information. The sales person maintained that he "did his due diligence", when actually what he did was anything he could to get his contract signed and fee paid.
Congratulations, sir. I hope you enjoy your commission. $149 is not a huge amount of money, but treating people this way is certainly not the right thing to do. I may not have gotten my money back, and we may have lost sales in being shut down, but at least I can sleep at night knowing I would never take advantage of someone just for a "sale".
To the consumer: just keep in mind that the sales people will not ask you everything they need to know. They will either assume that you KNOW what they need to know & should be telling them, or they will try to bend your info for an approval. Two of the companies we spoke to after this happened had similar situations, where the sales person wanted to "bend" the information in hopes that underwriting would approve.
DON'T ACCEPT IT! It's not worth it! You'll be processing for a few days and BAM! The rug will be pulled out from under you either by shutting you down completely, or withholding large percentages of your sales, which you cannot get back for 6 months - even if you cancel. Credit Card Processing Sales, in my experience, will do anything to get a sale - even if it is at your expense.
2 Other things I've learned that may help you in your shopping:
1. Submitting an application to these companies does NOT mean just checking to see what the company can do for you (limits, fees, etc). When you submit an app, they can/will (if approved) literally set up an account for you & charge you monthly fees, and you may not even realize it.
2. Each company can see what the other companies have approved you for.
We thought we were just "shopping" processors, and the next thing I know, we're being told, "Oh it looks like "XYZ Company" approved you for "X amount of dollars". So you will be innocently just trying to start/run a business, and they will be playing you for that sale.
I am not "angry", but it does sadden me to be treated this way, and I thought my writings could possibly help some other small business avoid being taken advantage of.