After I had a really expensive bad check come back, a friend sent Michael Green of Vericomm to see me. I explained my problem, and Mr. Green made his pitch for Vericomm services. It sounded great, but I told him I had a lease for my current equipment which was a non-cancellable 48 month lease with 28 months remaining.
He stated that Vericomm would do a buyout if I accepted his offer for the same type of machine with a check reader and pin pad. The cost was ten dollars more than I was paying, which I thought (at the time) was not excessive.
After reviewing some of the rates (less or the same as current), I believed him about saving on the processing. Of course, all of the costs and fees were not immediately explained or known until my first statements were received and I saw just how much I was being ripped off.
Also, my previous lease company (CIT Leasing, LLC) was still charging for the old processor unit. Therein lies the second problem. Vericomm didn't buyout the old lease as promised and agreed to by Mr. Green. The customer service at CIT Leasing told me they had not been contacted by anyone regarding a buyout, and both of my leases were active.
When they said both, my ears perked up. CIT Leasing and MBF Leasing are the same company! Their customer service people can see both leases at the same time! Not only did I get ripped off for new equipment of the same type, it was with the same company, who could have notified me of this, but chose not to. The picture gets clearer.
Why would a company make a second lease if the first was still good? I most certainly would not unless the original were cancelled, which was promised.
When I contacted Vericomm about this, they professed no knowledge of a buyout promised by their rep, Mr. Green. They said they did not do this and were not responsible for lies made by their reps. The runaround by Vericomm could write a new chapter in "How Not to Treat Customers". They are not willing to modify my agreement or terminate it since they have already sold the equipment to MBF Leasing. And, naturally, Mr. Green will not return calls, Vericomm cannot (or will not) make him contact me.
I found out from different lawyers that the agreement is not valid since it was made based on fraudulent conditions (promises of a buyout and lower costs). A small claims court proceeding will terminate it legally.in the meantime, I plan to close the bank account used by these scam artists and let them know they really don't have a contract with me. I can hardly wait for the bellowing phone calls.
As far as I can tell, Ipayment and EZ Check are just sideliners falling in with the agreements and the terms of the application/contract. Of course, they will demand a cancellation fee, but they can get that from Vericomm, as far as I am concerned. I never talked to them before I was charged by them. The promise of two days from batch report to deposit in the bank has not always been fulfilled, however.
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