LSI Equipment Lease Scam, Ripoff, Deceptive, Fraud, Theft Melville, New York
We have "leased" a credit card terminal from LSI for 56.90 for 5 years what we were told upon entering the lease agreement was that we would own the terminal in 4 years. When we called to find out why were still being debited 56.90 well into the 5th year we were told that there was no purchase agreement for the terminal it was lease only. We told them that we no longer wanted the terminal we were getting a new one through a different credit card processing provider since the terminal we had was so outdated it wouldnt accept new programming.
We returned the old terminal to LSI and sent it return reciept of which I have the reciept stating the day they recieved and signed for it which was 10/3/11. Im still being debited 56.90 for the old terminal as well as 35.00 for the new terminal. I have made several attempts to contact LSI to get this debit stopped since they have the original terminal which if you figure it up cost us 2731.20 for 4 years, but they are still debiting us into the 5th year for a terminal they have in thier posession that was sent to them per the specific instructions they gave me to return it and end thier service to us in any way regarding that terminal.
Of course after all this time paying them each and every month we find out that since this was a lease only and not a lease purchase we were supose to have had our equipment upgraded by LSI over the 4 years which we never were. Im sick of these companies sticking thier fingers into the bank account taking what they want when they want and I have to do all the grunt work just to get it stopped. Since they recieved thier terminal on 10/8/11 they have taken 113.80 from my account for no reason so as far as Im concerned thats theft.
Click Here to read other Ripoff Reports on LSI Equipment Lease