• Report: #201731

Complaint Review: MBF Leasing, Universal Merchant Services, Fifth West Bank

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Tue, July 18, 2006
  • Updated: Wed, November 04, 2009

  • Reported By:Los Angeles California
MBF Leasing, Universal Merchant Services, Fifth West Bank
132 W. 31st. ST., 14th FLOOR NY, New York U.S.A.

MBF Leasing, Universal Merchant Services, Fifth West Bank ripoff, deceptive sales practices, victim seeks remedy New York New York

*General Comment: 949-861-4000 UNKNOWN 1000000001

*UPDATE EX-employee responds: MBF is the leasing company associated with the compay that siged you up for processig....

*Author of original report: mbf leasing, northern leasing, leasecomm? Any info..Please Help!!!

*Author of original report: Correction: FIFTH THIRD BANK

*UPDATE EX-employee responds: Hello Anna what was the name of your rep?

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

Our story is very much the same as many others posted here. We had a brand new start-up company. We were contacted by a rep of Fifth West Bank who claimed the co. was a wholesaler of sorts and as a clearing house for all these bank transactions was able to discount the standard fees (discounts) charge by many credit card processing services. The sales rep mentioned something about a fee to cancel while I signed the contract, but like most people I didn't get a copy of the contract.

Even though I realized some time later that the lease fee on the equipment was very high in comparison with other equipment leases, I continued to pay it because I had agreed to do so. After two years, the decision was made to close our retail store. I contacted MBF Leasing to return their equipment to them and they gave me the instructions and then told me to hold on while they calculated the amount of the check that I should enclose in the box. I was expecting them to come back with a pro-rated amount on the $70 lease fee that I had been paying monthly, but instead they came back and said that I needed to buy out the remainder of a 4 year lease at the cost $1495. I would never have agreed to a 4 year lease.

To make matters worse, because the company was not established I started it as a sole proprietorship and was required to sign a personal guarantee. Has anyone else had this as part of their contract?

Because the company is closing, I anticipate that I will be closing out the bank account within the next couple months, so I can get around the auto withdrawls. Has anyone had an experience where MBF Leasing pursued this beyond harrassing phone calls? Has anyone had this show up on their credit report or been sued by MBF? I am trying to decide how to handle this.

These people are scum and need to be stopped. I am going to report them to the BBB, FTC, and contact the Atty. Generals of both CA and NY.

If anyone knows of any recourse or way to legally get out of paying this, please advise.

Anna
Los Angeles, California
U.S.A.

This report was posted on Ripoff Report on 07/18/2006 03:19 PM and is a permanent record located here: http://www.ripoffreport.com/r/MBF-Leasing-Universal-Merchant-Services-Fifth-West-Bank/NY-New-York-10001/MBF-Leasing-Universal-Merchant-Services-Fifth-West-Bank-ripoff-deceptive-sales-practice-201731. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on MBF Leasing, Universal Merchant Services, Fifth West Bank

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
0Author 5Consumer 0Employee/Owner
Updates & Rebuttals

#1 General Comment

949-861-4000 UNKNOWN 1000000001

AUTHOR: kcmusic_media - (United States of America)

949-861-4000 UNKNOWN 1000000001


11-03-2009 10:47 AM Man left message to call back at extension 7033 name was "Juan" or something similar.Stated it was from Merchant Services about my credit card processing here at the business.


11:06 AM I called back. He asked me if I knew Visa and Mastercard have had a rate increase and did I get the information in my statement. Then he tried to set an appointment for tomorrow and have a rep come out to talk to me and show me this info.


I asked who he was with. He said "Merchant Credit Card Services, we represent First Data."


I said "I already have an account with First Data".


He was surprised and said "You already have an account with us?"


I said, "I have a contract with First Data and do not plan to cancel it as they would charge a cancellation fee, just like all the merchant credit card companies do. They put you on a 3 year contract. I don't know how you got my number but please do not call me again as I already have merchant accounts and don't need any more." He said, "Okay,then.." and promptly hung up.


I would like to know how to effectively have my business telephone numbers removed from these telemarketers who call almost every day. The phone numbers are already registered on the DO NOT CALL list yet I still keep getting repeated harassing calls from a variety of people /companies trying to sell me something I do not want and didn't inquire about.

Respond to this report!
What's this?

#2 UPDATE EX-employee responds

MBF is the leasing company associated with the compay that siged you up for processig....

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

Anna,
You have to check the paperwork you origially signed to find out the specific name of the rep you mentioned.

I used to work for Merchant Services in Irvine 949-861-4000 but based on what you have said so far I have no idea of it was Merchant Services that actually met with you if you only have Brian as a name.

I do know that Fifth Third Bank cut ties with them over issues of Merchant Services falsey stating that they worked directly for Fifth Third Bank and in all fairness Fifthe Third Bank has nothing to do with leasing equipment as related to Merchant Services.

All merchants should be very very careful when entering into credit card processing.
Merchant Services did use MBF at the time that I was employed with them.
Respond to this report!
What's this?

#3 Author of original report

mbf leasing, northern leasing, leasecomm? Any info..Please Help!!!

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

Needless to say, I never heard of ripoffreport.com a couple years ago when I signed a lease with this company. In referencing comments from other people who have posted here, it seems that there are several different entities doing the same thing. Has anyone been able to link MBF Leasing to Northern Leasing or Leasecomm, for that matter? It seems as though everytime a judgemnt goes against one of these companies they start doing business under a different name (legally, I'm sure)? I'm sure it is no accident that the processing company that solicits the business owners has different names in different parts of the country. Is there some sort of paper trail anywhere that links MBF Leasing to one of the other two companies. I would like to reference the relationship in my correspondence with MBF. Please Help!!!
Respond to this report!
What's this?

#4 Author of original report

Correction: FIFTH THIRD BANK

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

I stand corrected. It has been two years since I was approached on this scam, so my memory is not perfect. I do, however, remember that the rep's name was Brian. He promised us gift cards, which we never received. After the first bill I called to complain and he told me that if I sent him a copy of our liability policy he could lower the monthly payments by $10. I was pregnant at the time and it took me a about a month to get back to him, but when I did he never called me back with instructions on where to fax proof of insurance or the graphics for the gift cards. I just assumed that he was no longer working there and with my pregnancy had more important things on my mind.
Respond to this report!
What's this?

#5 UPDATE EX-employee responds

Hello Anna what was the name of your rep?

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

You mentioned that the name of the bank was "fifth west bank"
Could it have been "fifth third bank"?
What was the name of the rep who you met with?
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.



Ripoff Report Legal Directory