Alpha Card Services Be sure you read the fine print! Huntingdon Valley, Pennsylvania

Maybe this is what they do now but when I signed up in Jan 2009 this was not the case.  There were no places to initial pointing out the 3 year term and consequences.  I did not receive a signed copy of the agreement, only a page listing the Account Approval Terms and a copy of the Card Services Terms and Conditions where 3 pages in in a finely printed 7 page document is specifies the term and consequences of not completing it.  I doubt if any business owner would read through this document.  Keep in mind that they are targeting small businesses here, not corporations.
 
On the Rate Change form there is no area to initial with the three years.  It is put at the end of finely printed text (as in smaller than any text on the page) statement agreeing to the rate change.    Here is the text "By signing below, I represent that I have read and I am authorized to sign and submit this rate change form on behalf of the entity below.  If the Rate Change Form is accepted and approved, Merchant agrees the new pricing plan will begin the first month which also extend the merchant agreement for an additional three years from the date this document is signed".  The bad grammar is in there.  As I said the extension of the agreement was not discussed by the agent at any time.  I've attached a copy of the Rate Change Form.

As this is an anonymous post I can not give specifics, but I can tell you about our practices. 

The merchant is required to initial and sign below several places where our term is specified. To counter any

misunderstandings of our valuable customers our underwriters confirm all rates, terms and fees prior to approving

any merchant account. We also send out as one final measure above and beyond that protection a UPS, signature

required welcome package that also outlines the agreement, provides a copy of signed agreement and one final

opportunity for our client to read over everything. We stand behind our policies and go above and beyond our competitors

on confirming that our clients have a full understanding of the contract and it's terms

For further information, please contact our corporate office at 1-866-253-2227.

The sales representative do not point out the 3 year term of the original contract or the consequences of terminating the contract before the 3 year period.  I had completed a Rate update form and this EXTENDS the contract another 3 years.  It is in the fine print in a location that you would not normally read.  This representative (a different one from the initial) did not point this out so my feeling is that they are told not to communicate this to clients or potential clients in their guidelines.  If this is not the case I would like to see a representative of the company provide some documentation that they have told their reps to communicate this IMPORTANT information.  The original complaint is quite valid.

All of our contracts are in writing. All sales reps review the contracts with our clients and our clients are also given copies of their agreements. Please call me at 1-888-284-4111 x700 if you would like another copy of your contract.