• Report: #467527

Complaint Review: Transtech Merchant Group - First American Payment System.

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  • Submitted: Wed, July 08, 2009
  • Updated: Wed, July 08, 2009

  • Reported By:North Myrtle Beach South Carolina
Transtech Merchant Group - First American Payment System.
201 Main St. Suite 1000 Fort Worth, Texas U.S.A.

Transtech Merchant Group - First American Payment System. Will honor signed contract Fort Worth, Texas, Fort Worth Texas

*Consumer Suggestion: I've heard.

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When the salesman first approached me about changing my credit card processor I was quite hesitant. He went through a series of calculations that showed how I would reduce my processing fee from 1.8% to 1.46%.

I decided to sign the application, which became the contract in late April.

Transtech was supposed to come set up the processor the next day, but it took two weeks. Meanwhile, they charged me the application fee that was supposed to be waived per the contract, and they charged me for not using their service in April - I couldn't.

I finally started using the processor in early May. When I received my first statement I about fell off my chair. The fees were more than 4% for the processor. This is far from what the salesman quoted me and what I signed on the contract. Furthermore, the contract showed that I would pay 0.12 per transaction. They are charging me $0.27 per transaction. They state that they did not accept my application, which is the contract. Well if that is the case, the contract should be null and void.

Customer Service said they would look at reducing, but then never got back to me.

The contract also states that they would pay the cancellation fees from the previous provider, which Transtech refuses to pay.

Now they are trying to charge me $595 to cancel the contract, for early termination; the contract states $495. This is an outrageous amount for the fees that they charge compared to other processors.

If anyone signes up for this processor good luck!

Gbeach
North Myrtle Beach, South Carolina
U.S.A.

This report was posted on Ripoff Report on 07/08/2009 01:49 PM and is a permanent record located here: http://www.ripoffreport.com/r/Transtech-Merchant-Group-First-American-Payment-System/Fort-Worth-Texas-76102/Transtech-Merchant-Group-First-American-Payment-System-Will-honor-signed-contract-Fort-467527. 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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Updates & Rebuttals

#1 Consumer Suggestion

I've heard.

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

From my understanding..

Statements are automatically generated when your account is active. You can request a refund for the first month you did not process and get that back within 7-10 business days.

For the rates an fees in question you can call in to get a rate review, it sounds like that is what you did already. The time frame for that is 2-3 business days, but you need to call and follow up. Customer service is an inbound call center.

As far as paying for the cancellation fee-transtech will reimburse you up to 250 dollars, as long as you fax a bank statement showing the withdrawal, and notification from the previous processor showing what the fee is.
You would have to provide your processor with that information within 120 days of signing up.

As far as your contract not showing the 595 cancellation fee, what it would say is "no less than 495".
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