ED Magedson – Founder
Greenstone Payments1717 McKinney Ave. Dallas, Texas USA
Greenstone Payments, First Data Don't believe a word Tim Boyd tells you Dallas Texas
Tim Boyd with Greenstone visited my store and asked to give me a quote for my merchant service account. In looking at my monthly merchant statement he said he would be able to cut my cost in half.
He said his company, Greenstone (associated with Tsys and First Data) charged a flat 1% of sales plus $134.99 which is cover their actual cost. This would indeed save me 1/2 of what I'm paying now. He said if I wasn't happy after 30 days he would cancel my contract and I could resume my present provider.
Stupidly, I signed the contract and was not given one. Immediately after he left I realized he didn't give me a copy and I called him to return and give me a copy. The following day I received the contract and asked Tim to explain the 1% cost plus and again he said it was 1% of the sale amount. I was on speaker phone with 2 people listening to verify his explanation.
I called him the next day and told him I was recording the conversation and he was outraged that I didn't trust him, however, his explanation this time was totally different than the previous day.
I then found out that the $134.99 was actually for the lease purchase of the equipment, over a 3 year period. This is a $400 piece of equipment which cost less than $500. Do the math. They hit my checking account for July for $209.45 not the $134.99. The only way to stop this is to close my account.
If they call on you, kick them out of your office.
This report was posted on Ripoff Report on 07/07/2014 11:10 AM and is a permanent record located here: http://www.ripoffreport.com/reports/greenstone-payments/dallas-texas-75201/greenstone-payments-first-data-dont-believe-a-word-tim-boyd-tells-you-dallas-texas-1160099. 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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