ED Magedson – Founder
Pace Payment Systems9310 Topanga Cyn #200 Chatsworth,Ca. 31311 Chatsworth., California USA
Pace Payment Systems If time is money, stay away from this company it's a Deceitful Company using Unethical Sales Tactics, If time is money, stay away from this company Chatsworth. California
On Sept. 28, 2012 I entered into a contract to change my current credit card processor to Pace Payment Systems. I have 5 different accounts due to various businesses and the sales rep, Reggie Royals had contacted me and offered a better discount rate then I was paying to another provider. I had asked him repeatedly if there was going to be any long term contractual agreement and if I would be able to cancel at any time if I became dissatisfied with Pace. This was particularly important as I had previously run across that problem in the past with other providers. He promised there were no cancellation fees and because their rates were so competitive they would meet any other competitors that I may run across in the future. Also, they were to loan me 2 sets of credit card machines for my stores that I would be responsible to return in the future. I agreed and was faxed all the documentation for my FIVE accounts.
I reviewed all the documents for a couple of my new accounts which did NOT have any cancellation fees and since there were so many numerous pages, I signed ALL the docs for all 5 of the accounts and faxed them back. After the first few months of being a Pace customer I became very dissatisfied with their reporting system. When credit cards are batched out daily and submitted, they send the money to MY bank in a very haphazardly way. One day they may submit a total of some of the credits, the rest over the next few days. THEN, Over the next few days they submit the totals of some of the debits. Over the next week, the American Express gets submitted. This ALL makes it almost impossible to reconcile my bank account with their statements. It was taking me DAYS to track down each customers payment to compare it to what they were actually putting in my bank.
I complained to their customer service department and they have my complaints on file. I was told by customer service that YES this was a problem and I could call them any time if I had a Particularly difficult time deciphering sums of deposits that I couldn't figure out on my own. I went back to trying to balance my checking account and over the next month or two I realized that this was almost an impossible task and the little bit of money I was saving on my rate was not worth the week it cost me to balance my accounts!! I switched to another provider and now am being told I must pay $199.00 each for TWO of my accounts for early termination fees. I complained to Reggie and was told that there is now NEW management and to read my contract on those two accounts because yes, they are different than the other two and they do include these fees. Reggie admits that he indeed tell me that there were to be no fees on any of my accounts but he can do nothing about waiving these fees and I must pay them when I terminate. This is totally unethical. Reggie says he has tried to help me but his boss now won't let him waive these fees.
This report was posted on Ripoff Report on 12/10/2013 11:51 AM and is a permanent record located here: http://www.ripoffreport.com/reports/pace-payment-systems/chatsworth-california-91311/pace-payment-systems-if-time-is-money-stay-away-from-this-company-its-a-deceitful-compa-1105867. 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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