North American Bancard NABC 3yr contract scam Troy Michigan

I'm with a company that treats me like a valued customer.  I googled North American Bancard and knew that I should keep looking.  It's great having sites like this to inform potential consumers about companies this.

Thanks ROR!

This is a scam by NAB. I too was told by my rep that there wouldn't be any problem cancelling the account at any time and I would just have to return the equipment. Long story short, cancelled my account, returned my equipment, and got a letter from some collection agency out of Louisville for $925 for cancelling my account. They DO NOT give you a copy of a 10 page agreement. A two page application is all I've ever signed. I'm filing a complaint with my attorney general and the FTC. I think the contract is probably unconscionable but just needs to be ruled as such. A good class action lawyer could have a field day with this company.

April 16, 2009

Dear Merchant,

North American Bancard works very diligently to resolve all customer issues and complaints. Since our inception in 1992, we have worked with over 125,000 merchants of all sizes and levels of complexity. We provide a high level of service and support to our customers, as is evidenced by the low number of complaints we handle. Occasionally we, like any other large company, may make a mistake or mishandle an issue. When these are brought to our attention we resolve them to the best of our ability. Our 250+ employees work hard every day to make doing business with NAB a pleasure for our merchants and stakeholders, all we ask is the opportunity to recover well.

In regards to the length of agreement, Section 13 of the Agreement Terms and Conditions clearly states, This Agreement shall remain in full force and effect for an initial term of three (3) years. On Page 10 under the Merchant Acceptance portion states, A copy of the Card Services Terms and Conditions, revision number 08/07, has been provided to you. Please sign below to signify that you have received a copy of the Card Services Terms & Conditions and that you agree to all terms and conditions contained therein. Also states under the Individual Guaranty the following, I/We have read, understand, and agree to be bound by the terms and conditions contained in this Agreement on pages 1, 2, 3, 4, 5, 6, 7, 8, 9, and 10.

In regards to closing the account, section 13 of the Agreement states, Any merchant who terminates this agreement prior to it's termination date is responsible for any and all monthly fees assessed under the Agreement for the remainder of the then existing term of the Agreement, including all minimum monthly fee commitments, which in no case shall be less than $295.00.

Unfortunately enough information was not provided for us to accurately determine your specific Merchant Account. If your account was incorrectly debited, or you believe your fees have been inadequately advised, then we would need specific information in order to properly address the concerns or correct any errors.

Please contact us at your earliest convenience so that we may handle your concerns. Please have your Merchant number ready and contact our Customer Service at 800-226-2273 Ext.1300.

Sincerely,

Rebecca Paull
Research Manager