TransTech Merchant Group Apex Merchant Group First American Payment Systems TransTech Merchants Group CPP Recruiting Summit Merchant Certified Payment Processing BLANK CHECK CLOSING COST Fort Worth , Texas

You state "The termination fee is no different from a cell phone contract, a satellite TV agreement.." The problem with your statement is your agreement has an auto renewal cause.  Cell phones do
not auto renew and goes down over time, so this is not like as you state.  Why is it necessary to even have a termination fee?   As one who works in this industry it is because they want to make it painful for a business to leave.  Also to cover the big commission they paid the sales rep.  Trans Tech, Apex and American Payment appear to be the same company as their agreements looks the same.  They
are the worst because of unfriendly terms for the business/ merchant.  It states no less than $300.  That means they can charge any amount.  They can go up on any fee, IE monthly fee, transaction fee, batch fee just to name a few and you are stuck!  These fees are independent of interchange. Businesses beware of this company!

"TransTech makes every effort to ensure that a merchant fully understands the agreement"
- Original employee rebuttal to this post

As a former employee, I can assure you that comment is BS.  Transtech does everything they can to have their employees fast-talk the customers and speed them through the signing process so that they don't realize that you could be signing your entire bank account away.

Im sorry but anyone defending this company must be an employee.  I think everyone is aware you should read contracts, so you're covered on that one.  But what happens after you sign the contract, well thats  different story.  The customer service at Transtech is the absolute worse of ANY buisness Ive ever dealt with.  After reading the above story, I saw I was not the only one falling victim to this stupidity.. Employees misinformed and giving out wrong information. Noone seems to have recieved the same training manual it would appear by all the inconsistencis in policies and address to it seems lol.  These mistakes cost people time and money.  Then to recieve such rude demeanors when calling "customer service".  This company is the PITS!!!!!

There is no rip-off. All of the information was freely available and easily understandable if the merchant had taken the time to review the contract.

First: Both the termination fee and the automatic rollover are clearly specified on Page 4 of the merchants copy of terms and conditions. The termination fee is no different from a cell phone contract, a satellite TV agreement, or any number of other services. These fees are standard business practice.

Second: TransTech makes every effort to ensure that a merchant fully understands the agreement. The terms are spelled out in the most detailed contract in the industry. In fact, we require a merchant to sign a second document confirming that they understand the terms. After that, the merchant still has a 30-day cancellation period. As if that isnt enough, the merchant is contacted not once, but twice as part of our retention process. We value our customer relationships.

Third: It is crucial for business owners and individuals alike to carefully review any type of consumer agreement whether its a mortgage, building lease, insurance policy, rental car agreement, or any other type of contract.

This is not only good business practice. Its common sense.