Transaction Solutions, LLC Merchant Services rip-off thieves dishonest Bridgeville Pennsylvania

I have read several letters to Rip-off Report concerning overcharges on leasing, and in particular about the unethical practices of CIT, also known as Lease Finance Group, and more importantly, merchant service providers.

My company is currently an outside sales organization which deals with providing merchant accounts to businesses in the United States. I, the people that work for this company, and all the owners frequent Rip-offReport.com so that we can get a feel for the complaints that are out there within our industry, and not make the same mistakes. I will be the first to say that there is a lot of fraud that goes on with the merchant account industry, and my company is a very strong advocate of government regulation. But 90% of the businesses in our industry are against regulation. It doesn't take a brain surgeon to pay your sales tax or assess it for that matter, you don't need a college degree to give good customer service, and most of all, you don't need a course in ethics to be honest.

My best advice when you look for a merchant processor is to see if you can establish a relationship. If you don't feel that you can connect with the person you are talking with, then don't do it. It's the sales people out there that push you into making a decision because of a quota, a profit margin or a commission that you should quesiton.

As for leases, well we sometimes recommend them, and we sometimes discourage them. It depends on the business. Keep in mind that the average price of a landline terminal is going to run you about $385.00, and the average price for a wireless terminal is $875.00. That is top of the line, brand new equipment.

When you take a lease out, you are agreeing to pay small installment payments per month over a period of serveral months, and yes, on a $350.00 terminal, at the end of your lease you might be out of pocket for close to $2000.00. If your a small business always buy outright. But if you are going to have 10 or more terminals, you may want to consider a lease. Instead of coming up with the capital all at once you can pay monthly installments, and write it off your business taxes for the entire lease period. Just like when you go to an automotive dealer, of course they want you to take out a lease, they make money on it, and when you return the vehicle, they make money on the resale of the vehicle. Same exact thing here, only on a smaller scale (dollar amount wise).

As for the people signing you up for the lease, chances are, they don't work for CIT. They are independent agents that outsource CIT for their leases. The same is true for the guy that walks into your business trying to get you to sign up for a merchant account. He's not an AFFILIATE of the bank, but you need to ask the bank if he is an ISO (Independent Sales Office) or an ISA (Independent Sales Agent). He doesn't work for the bank, but he works for himself using the bank for their services.

There are some good reputable agents out there, and they are associated with good reputable banks. Check to make sure which banks they are associated with. If you hear the names United Bank Card, Chase or Cornerstone, chances are you are dealing with a good agent. These banks go through rigorous screening processes that make sure they have the people they want representing their companies. If worse comes to worse, ask the companies that are around you who they use and if they are satisfied. Deal with a company that is more than willing to educate you on the in's and out's of taking credit cards, what all the charges are, what the downgrades are, and ask them if they have a "Pass Through". If they hesistate on answering, hang up and call the next guy on your list.

Kind regards,

Using internet search, I found the address in Pennsylvania, which is the wrong company, although they have the same name. Deepest appologies to LLC Merchant services in Bridgeville, Pa. The only address I can find for the right company is LLC Merchant Services, P.O. Box 407066, Ft. Lauderdale, Fl. phone 1-877-706-0571, 1-800-762-6663