After 25 years in business this is by far the most fraud I've seen another business use in selling a product or service. The pitch is simple; A customer may post date a series of checks for up to 90 days out and as long as EPS90 issues me an approval #, they will deposit the funds into our business account on the days agreed whether or not the checks actually clear the customers account or not. The payoff for EPS90 to make this assurance? How about 18% premium on the principal amount of the check. So to recap, for an 18% fee EPS90 will ensure I get my funds when due and if necessary they will collect from my customer.
The above sounds expensive but, explained Greg Carter and Tom (last name forgotten), for this fee EPS "guarantees we will never again have a collection problem". However, what ended up happening is as soon as the first check did not clear the customers bank EPS90 did not deposit funds in our account as promised. They now claim they cannot pay us unless they collect. This company straight out lied to us. When asked point blank during their presentation "is there any condition that may arise that EPS90 will not cover a check that does not clear our customers account as promised", they answered "no, sir! as long as we have an approval #, the funds are 100% assured".
So after realizing we were lied to and frauded, we contacted EPS90 to terminate our agreement with them. They continued to ACH out of our bank account several fees monthly (fees that were never disclosed to start with). We finally had to fill out a fraud report with our bank (bank of america) , to return the funds that were taken from us and stop any further theft. The balls of EPS90 don't stop at fraud though. They actually have an extremely obnoxious and aggressive collection company called Greenberg, Grant & Richards Inc, calling with all kinds of rediculas threats.
If you are contacted by anyone representing this company, do not allow them in your office. They will lie, steal, cheat and even forge your signature. They are very unorganized at the corp level and do not know their own business. We have lost almost $10k dealing with them and can absorb a loss like this, but we know alot of small businesses would suffer terribly if frauded out of this kind of money and that is why this is the first time we have ever participated in a forum like this.