- Report: #702379
Report - Rebuttal - Arbitrate
Complaint Review: TransTech Merchant Services
TransTech Merchant Services300 Burnett Street Suite 300 Ft. Worth, Texas United States of America
TransTech Merchant Services fraud lies coercion intimidation overcharge deceptive theft misrepresentation liars thieves Ft. Worth, Texas
*Author of original report: TransTech Merchant Services uses decptive practices and has large hidden costs
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Not long after signing, a representative of Transtech began calling on a regular basis insisting that the processing equipment I was using was not compliant with the industry's new regulations and would "have" to be replaced. When I would threaten to move my business, he would find some loophole to get out of the conversation and try again later. This went on for about 3 years.
Later, in order to process debit cards, I did finally have to purchase a machine that had the triple encrypted pin pad to be compliant with the industry standards. I purchased it from Transtech without knowing that I could have possibly purchased it elsewhere for almost 1/3 the price I paid Transtech.
Recently, Transtech began sending intimidating letters and emails warning that I was facing fines of up to $500,000 and the closure of my business if I did not enroll and comply in the Trustwave program that they had partnered with. I was told that the new banking laws passed recently included laws that made it mandatory to enroll in a program like Trustwave or face fines. I enrolled only to find out that the yearly test was an additional $124.95 in fees. I also found out that there were no such laws only recommendations that merchants assess their handling of customer's personal information.
Finally, when a business customer introduced me to his rep from a competing processing company, I learned that Transtech had been gouging me through excessive charges for processing in areas only another rep would be alerted to. I have dropped Transtech and would like this to be a warning to any business needing a credit card processing company.
This report was posted on Ripoff Report on 03/03/2011 06:37 PM and is a permanent record located here: http://www.ripoffreport.com/r/TransTech-Merchant-Services/Ft-Worth-Texas-76102/TransTech-Merchant-Services-fraud-lies-coercion-intimidation-overcharge-deceptive-theft-m-702379. 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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