ED Magedson – Founder
First Data and Bank of AmericaPO Box 407092 Fort Lauderdale, Florida USA
First Data and Bank of America AKA First Data BOABank of America BankofAmerica Merchant Services, Credit Card Machine, Lease Fort Lauderdale Florida
Be aware of contracts made with this company "First Data" - you can probably get the same equipment that I have to pay monthly on for free. I entered a contract not knowing that most people give you this equipment for just doing business with them (ie using their merchant services for credit card processing). I am a dentist and I was starting up a new practice. I did not have time to read all of the fine print in my contracts that led up to the begining of opening my practice. As I was setting up my merchant services package with Bank of America (financed and serviced by First Data witih first data machines) I managed to sign a 4 year contract with First Data. I am being billed roughly 27.39/mo plus an annual 'property tax fee of $30.20 and a $10.20 annual fee for to process the taxes.
This may not seem like a big deal... whats 27.39/mo? At the end of my contract of 4 years I will be paying $1435.52 (including taxes) plus the annual cost for property tax and annual fee. Well considering that a refurbished unit is about $200.00 or $400 new (and typically free if you get service with the host). Congrats to First Data - You got me, hook line and sinker. My recommendation is to buy one outright if you cant get one for free.
I called first data to get out of the contract or renegotiate it. All they kept saying is that I signed a 4 year contract for the equipment and I would have to honor that contract. If I wanted out of it I would need to pay the entire amount of the contract to them. I told them that I think they pulled the wool over my eyes when I was signing up for this service. I told them that the merchant services person that was visiting my office today was willing to provide these items for free just to use his service. First data did not care. I told them that I was going to share my experience with the internet so that hopefully no one else will make the same mistake that I do. They did not seem to have a problem with that. They said we are just a financial group that leases the equipment and that they did not set up the contract. They said BOA - bank of america set up the contract. However, my bills come from first data and my machine says first data on it. I will call BOA to try to get out of the contract, but I was so disgusted by first data that I had to share my experience.
This report was posted on Ripoff Report on 06/26/2013 11:24 AM and is a permanent record located here: http://www.ripoffreport.com/r/First-Data-and-Bank-of-America/Fort-Lauderdale-Florida-33340/First-Data-and-Bank-of-America-AKA-First-Data-BOABank-of-America-BankofAmerica-Merchant-S-1062267. 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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