We and other businesses in our area have become some more victims of Vericomm and just another of there sales reps trained to do their thing. Referred to us by another unsuspecting business owner, Vericomm came to our store and ran some figures and told us congratulations I can save you in credit card processing fees far and above what the cost of leasing a new credit card terminal, pinpad and check machine would cost you with a 4 year lease.
Well come to find out the credit card interest and processing fees alone are more than with my old company. We called Vericomm and asked for a representative to come out and show us where our savings were, but nobody came. As for our sales rep the cell phone number he gave us was no longer taking calls.
I have talked on the phone to other business victims in the area. One said he went as far as to totally change his business account so the MBF leasing payment couldn't be automatically deducted from his account. Up to that point he couldn't get any help from them. After that they called him constantly. He told them if they want their machinery come and get it. I'm not quite sure how that could affect him because there is a "Personal Guaranty" section on the lease that is signed personally with social security number etc.
This company (Vericomm) needs to be stopped. The biggest part of the scam is the leasing of new overpriced equipment. There must be some good commissions there. I checked on the internet and could buy all my equipment outright for around $1500.00 dollars. The lease is for $160.00 dollars a month. Now I have to go to the the State Attorney General.
I never believed a business could get away with this.
Buffalo, New York