We had a three year contract with Moneris Solutions to process our MasterCard and Visa payments. One of the medical associations that we belong to offered us a better rate to perform the same service. We called Moneris to verify the end date of our contract and to ask if there would be any cancellation fees if we closed our account at the end of our contract period. We weren't told of any fees. Apparenly the fine print in the contract says that if you don't cancel your service during a 60 day window of time 30 days prior to the contract end the contract is automatically renewed. Then if you call to cancel you are cancelling the contract early and get assessed a $250.00 fee. We have two accounts with them so our fee is $500. I tried to explain that this fee was unfair because I called to ask about cancellation charges and was not notified of the automatic renewal clause. The manager of customer service was rude and unhelpful. His final answer to me was that their lawyers have carefully checked the contract language and they charge this fee because they can. This company is based in Canada.
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