Mercury Payment Systems False advertising and unauthorized termination fee of $295 Durango, Colorado

I have been processing with Mercury Payment Systems for about 3 years with no issues. One of the reasons I signed up with them is because they did not have a contractual term commitment, and they had no termination fees. They advertised this when I signed up.

I have opened store locations and processing accounts, and closed store locations an processing accounts, all with excellent customer service.

Then, it came time to close my business, due to the economy. When I called them to let them know I would cancel my processing, they said they would charge my account a $295 termination fee. I disputed this, stating that when I signed up, there were no termination fees. They said there would be no fee with 30 days notice, so I gave them 30 days notice.

In less than 30 days, they debited my bank account $295.

I have reported them to BBB, and I am entering this ripoff report. I am disputing the charge with my bank.

Do not do business with this company.