• Report: #1016144

Complaint Review: Merchant Industries. LLC

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  • Submitted: Mon, February 18, 2013
  • Updated: Mon, February 18, 2013

  • Reported By: TowBoat Tim — Florida United States of America
Merchant Industries. LLC
3636 33rd street #306 Long Island city, New York United States of America

Merchant Industries. LLC Leo Vartanov, senior executive ... Louis Knowles, sales rep misrepresent a contract aggreement and took more money than i aggreed to Long Island city, New York

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this company said it would only charge me 15.00 dollars a month plus the usual credit card processing fees......   i signed on the dotted line and gave them my bank account ach information and received my account number from them and no information as to how to start using their service for my credit card processing...... that was in NOV 2012 .... beginning in DEC 2012 they withdrew $49.95 from my bank account for 1) minimum monthly fee $10.00 2) statement fee $ 5.00 3) TIN/EIN verification fee $4.95 and 5) inactivity fee $29.99.... didn't get the grasp of that until my reconciliation at the end of December at which time i tried to contact the sales rep to find out what was going on...can you believe the number of meetings this guys is suddenly attending now that im having an issue... now comes JAN 2013 1) minimum monthly fee $10.00 2) statement fee $ 5.00 3) TIN/EIN verification fee $4. [continued below]....
.....95 5) inactivity fee $29.99 and 6) Annual Fee $99.95..... and as before i didn't catch this until reconciliation of accounts at the end of JAN..... now it is FEB 3, 2013 and I'm through the roof ...I was finally able to make contact with the sales rep (after MANY attempts) ... I was demanding my money back and I wanted to close my account with them ... I was told that I had to do a formal letter, which i completed on FEB 4 only to be insulted by another withdrawal of $49.95 (sum total of $249.79 by this time).... my bank is unable to stop the withdrawals because they say it is an ACH transaction.... i have a very limited time of 48 hours after the transaction to put a stop payment in place (which costs me $30.00) with no guarantee of refund...i did get the FEB payment refunded... but to add insult to injury i got a letter from their collection department demanding payment for the February payment of $49.95... what a joke.... the worst part of this whole ordeal is that to this day i have not processed one credit card transaction through this company.. they say  that my account is closed and i haven't seen one refund yet... i will update when i know i have complete resolution...

This report was posted on Ripoff Report on 02/18/2013 10:29 AM and is a permanent record located here: http://www.ripoffreport.com/r/Merchant-Industries-LLC/Long-Island-city-New-York-11106/Merchant-Industries-LLC-Leo-Vartanov-senior-executive-Louis-Knowles-sales-rep-misre-1016144. 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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