Wholesale Merchant Processing, Inc Bait-and-Switch Scam going on at Wholesale Merchant Processing Beaverton Oregon

We signed up with this merchant on 10/09/11 under the condition there would not be any early termination fee of any kind. The representative from Wholesale Merchant Processing agreed and removed the termination fee from the contract.

On March 2014, we called Wholesale Merchant Processing to end our business relationship, because our business ceased to operate.  We were told that although the early termination fee was removed from the contract, there was another document (which we were never given nor received) that stated that the an early termination fee would still apply, even if removed from the contract. We were also told that the contract was to be in effect until October 2014 to complete a 3 year length requirement. We were very disappointed in what looked like a bait-and-switch practice, but decided to continue paying the minimum monthly fee of $46.00 until October 2014, although we haven't been using Wholesale Merchant Processing Services since late January 2014.

On May 8 2014 and without notice, Wholesale Merchant Processing decided to debit from our bank account the random amount of $893.98. This attempt was refused from our bank for insufficient funds, since we were keeping this bank account open for the sole purpose of making the $46.00 monthly payment to Wholesale Merchant Processing until October 2014. We immediately called them to find out what the charge was about and Kelly, a representative from Wholesale Merchant Processing told us that this was an early termination fee, charged to us because we were no longer processing credit cards. She told us that Wholesale Merchant Processing was entitled to cancel our account at anytime and collect an early termination fee, even if the termination initiative came from them!

Also, since our initial inquiry to close our account, we started seeing new charges on our bank account. When asking for an explanation, we were answered that these were charges they forgot to debit from our account at signup time, back in 2011.

Wholesale Merchant Processing practices are dishonest and deceiving. Since we expressed at one point our desire to end our business relationship, they decided it was more profitable for them to terminate the contract and subsequently charge an early termination fee that wasn't agreed upon to begin with.

There seems to be many people/companies having similar issues with this credit card processor, judging by the Better Business Bureau, Google Reviews, searches on Google and the Oregon State Attorney, Div. of Consumer Affairs. We are now considering taking legal action against this company.