Recently I started a new company. I did not have a lot of capital for servicing credit cards, and found a flyer I had received for a compnay who adverstised they only charge $5.00 a month for servicing plus the interest charges.
I contacted the company and they sent their representative. I asked him several times about the fees and he insisted that was the only monthly fee there was. He had me sign two papers. I asked him for copies and he said they would be sent. He told me this was to authorize the bank to process the ach charge. Again I asked for copies and to read what I had signed and he told me not to worry. Several weeks later I received a mailing indicatng that I would be charged a $195.00 membership fee. I put a stop payment on the charge ad called the company. After several differnt phone calls I was transferred to Dominick Martinez. I left a message. Two weeks later he made contact with me. Told me that there was a $399.00 cancellation fee! I told him that was hogwash! He sent me a form I filled out indicating why I was cancelling, which was because of the undisclosed fees.
Today i checked my bank account and there was a $59.95 fee from their company and a $19.99 fee. As well. I am cancelling my bank account for fear that they may try to process another fee.
Do not do anything with this company! They are a total scam!
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