I should have listened to the reports I read when I signed up, but the salesman said they had all been taken care of. We started processing with PFC and since we were a new company they required a $22,000 deposit put on hold. They assured me that the money would be released if I processed cleanly for one year. I requested my money back last August, and they not only refused to release it, when I stopped processing and went with another company, they held more money. I have been trying to get the money released for over 8 months now.
In addition, their lease terms are really outrageous. A credit card machine retails for about $900. My lease is $330/month for 3 machines for 5 years. The fine print shows no service or insurance which I was told there was, and after I pay almost $15,000 for 3 machines I don't own them and need to send them back. I checked the terms before I signed and they assured me that this was not the case but now, I pay the lease and don't process with them and can't use the machines with any other processor.
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