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Report: #1135309

Complaint Review: Merimac Capital - Fort Worth Texas

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  • Reported By: Greg — Summerville South Carolina
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  • Merimac Capital 100 Throckmorton Street, Ste. 1800 Fort Worth, Texas USA

Merimac Capital First American Payment SystemsAppStar Speechless... Fort Worth Texas

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I signed a 3-year contract with AppStar Financial in April of 2013, and included in their 18 page agreement was page dedicated to using Merimac Capital (First American Payment Systems) as the company through which I would be required to lease the credit card processing machine. This agreement was for no less than 5 years, even though it was a 3-year contract with AppStar, and there was not an option to purchase the machine, I could only lease the equipment for 5 years, and end up paying more than $2,000 for a piece of equipment that I would be leasing.


My insurance policy was updated to include their machine in order to have their Loss and Destruction Waiver monthly fees dropped, and paperwork was submitted to them on 4/22/13. I called several times the following week to finally get verbal confirmation that the paperwork had been received and the extra fees taken off my account. My bank account reflected the reduction in fees charged until September 2013 when the additional $4.20 charge was added back to my monthly charges. I submitted an email in March 2014 requesting a statement to see what all the charges were that were being taken from my account on a monthly basis.


I was told they don't provide statements to lessee's, and was given the response that the lease amount was $35/month plus sales tax ($2.45) and the Loss & Damage waiver fees ($4.20). I then forwarded the insurance paperwork that my agent provided to me from when the original paperwork was submitted April 22, 2013 and included in this email that I had submitted a letter of termination with AppStar Financial due to not being satisfied with the service they were providing and requested consideration be made to lower the amount that was still owed on the remaining 4 years of my lease agreement. The response I got did not address the increase in monthly fees, just stated that I'd be responsible for the remaining payments for the 5 year lease. I have placed a stop payment on my account based on wanting to reach a mutually acceptable agreement between AppStar Financial, Merimac Capital, and myself, and despite being told that they were separate entities, they are using the same company ID number to access my bank account.


I have called back several times to talk to a supervisor, and he never seems to be available, but they can put me through to his voicemail.  I left a message the first call attempt, and called back for the next couple of days to try to reach him since he never returned my call.  I asked when is the best time to reach him and was told it's easiest to leave him a voicemail and he'll get back to you.  I said that I had already tried that route, to no avail.  


I guess if this is the type of treatment, or lack thereof, that a supervisor provides their customers, it is no mistake that the customer service representatives are also useless when it comes to handling a customer concern.  Best advice, do not do business with this company and you'll save yourself a great deal of headache and runaround!


This report was posted on Ripoff Report on 04/01/2014 08:15 AM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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