• Report: #213479

Complaint Review: Innovative Merchant Solutions

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  • Submitted: Fri, September 29, 2006
  • Updated: Wed, March 21, 2007

  • Reported By:Festus Missouri
Innovative Merchant Solutions
26541 Agura Road Suite 200 Calabasas, California U.S.A.

Innovative Merchant Solutions ripoff fraudulant contracts for small business credit card accounts Calabasas California

*UPDATE Employee: Termination Fee on Application

*Author of original report: Lie about the termination fee being on Application

*UPDATE Employee: Termination Fees are Listed

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Beware! Innovative Merchant Solutions in INTUIT Company has a small paragraph in their contract that states when you sign their contract that you also agree to everything in the Merchant Agreement Book which is 47 pages long. You also agree that if they change the book you are subject to the changes. In the Merchant Agreement Book (not in the contract) there is a clause that they can and will charge you $395.00 for a termination fee. BEWARE!

Elaine
Festus, Missouri
U.S.A.

This report was posted on Ripoff Report on 09/29/2006 11:15 PM and is a permanent record located here: http://www.ripoffreport.com/r/Innovative-Merchant-Solutions/Calabasas-California-91302/Innovative-Merchant-Solutions-ripoff-fraudulant-contracts-for-small-business-credit-card-a-213479. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 3Consumer 0Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

Termination Fee on Application

AUTHOR: Leanne - (U.S.A.)

If you signed up for processing prior to 2001 it is possible that the termination fee would not be on the application. However, versions printed after the fee was implemented have them printed on the face of the application. And none of the merchants who signed up for IMS's service should have been charged that fee if they signed up before that time. I would be happy to review the application if you fax it to me at 818-936-7890 so that I can assist you further.
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#2 Author of original report

Lie about the termination fee being on Application

AUTHOR: Elaine - (U.S.A.)

I have a copy of the Application that I signed when I applied for service. There is NO reference to a termination fee.
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#3 UPDATE Employee

Termination Fees are Listed

AUTHOR: Leanne - (U.S.A.)

The $395 Early Termination Fee is listed on both the Merchant Application and the Merchant Agreement. On the application, it is just above the customer's signature. It is also referred to in section 4.01 of the Merchant Agreement. Because bankcard processing has many rules and regulations, unfortunately all the information needed to process credit cards cannot be placed on the application itself. The application however does refer the merchant back to the agreement and asks the merchant to read the document.
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