Sky Bank Financial Credit Card Processing Sky Bank has Sky High fees Miami Shores Florida

Beware of Credit Card processing companies, as an individual in sales for many years before starting up my own business I had encountered the interview room of a couple of credit card processing companies in my past.  Their fast talking pitch, and always being able to lower the cost of processing to any client was something that simply spelled "bad business".  Once I decided to start my own company it was inevitable that I would have to work with one of these sleaze ball companies. After much research and comparing fees I decided to work with Sky Bank Financial out of Miami Beach, FL.

They processed reoccurring payments for my business and everything was fine until a few years later when my business started shrinking.  My client base was down to just a couple of clients so they weren’t collecting their normal fees anymore so I gave them a call.  Came to find out I was on the wrong plan for the past 2 years, paying over $55 in monthly fees {plus %} instead of another plan I should have been placed on for smaller businesses where my fee was only $10.  I can thank my representative Andrew Kleinmann for this and I’m sure he got a nice big fat commission check for 2 years from me and others he did this to. 

Once my income got too low I started another business but kept the processing for the old company because it brought me in just a little above what it was costing me to keep the lower plan.  But a few months back my bank balance fell below the $10 fee on the day they processed it and that is when the challenges started.  I wasn’t given a courtesy call to tell me I owed them the $10 processing fee so it went unnoticed.

A month goes by and I happened to notice that the couple of deposits I had still going to that account were not being made.  When I called my representative to find out why, I was told that because my $10 fee wasn’t paid any future deposits into my account would go to collections to satisfy their fees first.  I inquired as to why they were keeping $55 when I only owed them $10, I was informed that anytime something goes to collections there is a $50 fee plus the fee so I was still behind.  This caused a s****.>

When I told them I had had enough of their ridiculous fees they quickly offered to close my account and I agreed.  After closing I receive another charge against my account of $150.  When I questioned that charge they told me it was an early termination fee because I had signed an agreement for 3 years.  I told them that my representative told me that my contract was for 2 years.  They quickly sent me a copy of the agreement and in small print it stated it was for 3 years. 

When I was offered to cancel I was only 3 months {$30 in monthly fees} away from fulfilling the 3-year agreement but I was not told this.  So once again another fee they can stuck me with.  It’s pretty obvious they make their money on fees and not the processing of credit cards so please beware of this financial institution.

As you can see I was told one thing and signed another, my fault but just wanted to post this so others don’t have the same fate I had.