When contacted by Craig Corban from PFC Payment Solutions last year he promised that if I signed with PFC Payment Solutions that my credit card processing fees would be greatly reduced. He sent an analysis and all looked good. However, the opposite was true.
The first months fees were higher than my previous provider and have been so from the very beginning. The processing fees were much higher than my previous provider. Then there is the monthly lease fee for the equipment—$59 per month for 4 years. That part was never told to me but it was in the contract that was a faxed blurry copy and difficult to read. The equipment is leased through a third party-First Data Merchant Services. That is $2832 for the lease period. When I saw the first $59 deduction from my checking account I called and asked about this fee. They said they will maintain the machine but you can not buy the machine. I recently checked with another company and I was told I could buy a brand new machine for $312.
Then there is the fee with Security Metrics for compliance for $149 per year. My previous provider had that built into their fees. Now I am asked to pay First Data $10.20 for the cost of processing any taxes required by my state or local government and another $20 for reimbursement of the average property taxes assessed on my leased "point of sale" terminal. (In Alaska we have no taxes on equipment and this should not be applied plus it is excessive) They state that this fee is for the 2010 Tax year. I signed with PFC Payment solutions in October. This amount is never listed in their contract. They state to refer to a 38 pay contract which was never received.
PFC Payment Solutions and First Data Merchant Service charge excessive fees and they keep coming up with more hidden fees. I would love to stop all relationship with these companies—their fees are unreasonable and excessive. I know that in contracts it is buyer be ware... Don't make the same mistake as I did and sign with this company. Run as fast as you can the other way. All I want to do is return the equipment that has never worked properly and leave this company far behind.
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