ED Magedson – Founder
Cardworks Acquiring101 Crossways Park West Woodbury, New York USA
Cardworks Acquiring is a fraudulent merchant card processing company located in Woodbury New York
Cardworks Acquiring is a Merchant Card Processing and they are crooks. Our company has been accepting credit cards for more than 15 years with a previous merchant card processing company. Over the past couple of years the previous company sold all its accounts to Cardworks Acquiring. We were never notified officially of the transfer of accounts but I had noticed the change of name from the monthly reports.
Last year I noticed that Cardworks Acquiring was siphoning off additional $$ from our bank account and our discount rate which used to be less than 1.9% had jumped up to more than 3.9%. They also debited miscellaneous fees from the bank account. The original processing company had a deal that if our discounts were more than a certain amount, the $12 monthly statement fee was waived. Well these crooks were charging $12 monthly fees regardless of the few hundreds of dollars in the discount fees.
This year I realized that with all the discount rate, transaction fees, statement fees and miscellaneous fees these crooks were deducting, on some transactions, it amounted to as much as 9% of the sales amount. We sell products that cost more than $225 minimum.
On my recent sales transactions of $1000, they had deducted more than $100. So we changed to a new merchant processing company and sent a notice to close the account with Cardworks Acquiring. First I got phone call back from Cardworks Acquiring requesting me not to cancel the account and to match the 1.9% discount rate I was getting from the other company. Then nothing happened.
When I sent them the formal letter to close the account, they deducted an additional $350 from our bank account claiming that we had signed a 2 year contract. Well we never would have signed a contract that says that it automatically renews unless you renew on the day of the anniversary, or something crazy like that. I called to get the amount refunded and the guys I spoke were rude and obnoxious. I have never encountered such crooks in the last three decades.
I wish there is a way to get my $350 back from these crooks. And a word of caution, NEVER deal with these crook Cardworks Acquiring people. I hope there are lawyers out there who would try to file a class action suit against these people.
This report was posted on Ripoff Report on 10/11/2013 02:37 PM and is a permanent record located here: http://www.ripoffreport.com/reports/cardworks-acquiring/woodbury-new-york-11797/cardworks-acquiring-is-a-fraudulent-merchant-card-processing-company-located-in-woodbury-1091311. 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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