A collegue recommended Ivan Financial Services because at that time, they were deploying wireless terminals, when most other processors were not. To get the referral, the collegue required that I pay him $125 per merchant account.
At first, I was thrilled to work with Ivan. They were courteous, efficient and seemed professional. Tom Sullivan was always available to me. His staff was also responsive and helpful.
I sold about 12 terminals. Only a few worked, perhaps because the cell phone coverage did not work in the area. There were also other problems with the terminals. I was forced to return more than half of the terminals deployed. I had a lot of angry merchants due to the defectiive terminals. Ivan did accept the returns.
When the processor with which I was working began wireless service, I went back with them for wireless accounts. This left me with three accounts with Ivan.
Ivan paid commissions to me for about two years. They were very dependable in sending me monthly checks for small amounts.
Then, one day, the checks ended. I called Ivan and at first the staff did not know why the residual checks stopped. They referred me to Tom Sullivan.
When I spoke with Tom Sullivan, at first, he said that one of my accounts had a large chargeback, of which I was responsible. I checked with all of the accounts and not one of them had a chargeback.
When I approached Tom Sullivan about it, he said it was not a chargeback. The checks stopped because I only had three accounts with Ivan. They did not want to pay me anymore because the three accounts cost them money, though at least one of them, had high credit card processing volume.
Tom Sullivan offered to give me a generous buyout. He did not mention the amount he would pay me, but it would be a generous settlement. I agreed. He would not allow me to submit anymore deals. My contract was rescinded, without my consent.
No check ever came. I called Mr. Sullivan. Mostly, he would not answer my calls. A few times he did answer, he said he would send me a check that day. The check never came. "The check is in the mail."
Since it was around Christmas, I decided to shine it on. No contact from Ivan ever came.
For years, this misleading dishonesty bothered me. I do not want to contain this anymore. That is why I am listing on Ripoff Report.