I am a small business owner swindled by this company and thought i looked in pretty well to the company until i found this site too late!
I was offered discounted credit card processing at wholesale rates, because i met qualifications of 1500 month in sales. These people cold called my business and solicited my business over the phone.
I was told I would save approx 1300 year in card processing costs after they did a cost analysis with my last business. I have in writing from the company how much i would save. I didnt fall for the lease the 300.00 machine for 4,000 because I was already burned like that with another processor before. Went out and bought all new equiptment.
I was faxed all rate guarantees and contracts signed off and was ready to start saving money. Yeah Right! I got my first bill and found nothing but hidden fees that added up to 50% of the total bill! I am on target to spend about 100-200 a month more than my last processor. Great Savings! They got some scam with surcharges for non qualified charges on credit cards that totally rakes up the fees, they defenitly were hiding these charges from me from the beginning.
When the contract was sent via fax they left out the Surcharge fee sheet that clearly states how the rates will be quite different then i would be used to seeing and alot higher. The salesperson guaranteed me my rates and promised there was no extra fees!
My money hit ny bank account was promised and guaranteed in 48 hours which is pretty standard. It has been taking 7 business days to enter to my account, i am worried that i wont get my money and they will scam my bank account and not pay me whats owed.
This company has an answer for everything obvioulsly are trained on these complaints and are more than happy to state that your in a stuck contract for 4 years and if you cancel you will incur 700-4,000 in fees. This company states its also affiliated with HSBC Bank USA.
There seems to be major problem with this companies trend on this board and thru the country same deceptive wholesale 1,500.00 pitch. Someone needs to start action against these deceptive companies that are locking business members up in deceptive misleading contracts. I am more than willing to jump on the train and help out, I am tired of this crap. Wheres the protection for business and customers.
While I am here stay away from Monotronics alarm system monitoring. Wanna get scammed on a contract give them a call. Stay Away.
John
tiredofbeingscammed, Oregon
U.S.A.
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