I had an agent from Summit Merchant Solutions come to my store and sign me up to have their company do my Master Card and Visa and Debit processing. His name is Vito La Nave, the name of his boss is Mike Settle. His bosses main office is in Texas.
I asked the agent before I signed up a bunch of questions. The agent told me there is no annual fee, I am not under any lease at all, my monthly bank statement fee is $5.00, the pin pad for using debit card is $29.95 a month and no state taxes. I had three witnesses with me who heard everything the agent told me. Everything the agent told me is a bunch of LIES. LIES and more LIES!!!
The annual fee...$95.00. The monthly statement fee...$9.95. Pin pad after state and local taxes...$34.95.instead of saving me money for lower rates... Its just the opposite. If i decide to leave the processing company after 60 days, I would have to pay a fee of close to $300.00.
The agent for Summit Merchant signed me up for the pin pad. He never told me that the pin pad was going to be by a leasing company. He never wrote out a contract from them, just signed me up with Summit Merchant.
I also told the agent that I will not "Personal Guarrantee" the pin pan. He assured me that there isn't any. Of course that was also a Lie. I also got a letter from LEASE FINANCE GROUP LLC that told me they are the owners of the pin pad and at the end of the 4 year lease if I wanted to keep it I would have to pay them an additional 10 percent buy out. They also sent to me a copy of where I signed a personal guarrantee for the pin pad.
I have since found out that I can buy a pin pad ffrom between $125.00 and $150.00. The salesman told me that I could buy the pin pad for $900.00, but it's better to lease it. I realize now. That by the time I would be finished paying for the pin pad, it would cost me close to $2,000.00 when I would be done. WHAT A RIP OFF COMPANY THIS IS!!!
In the State of Florida, their are also laws against Price Gauging. When you can get pin pads from 5 different companies for between 125 and 150 dollars and they want 900 dollars for the same thing... That is definitely s rip off and price gauging!
If anybody knows of a class action lawsuit against this rip off company, I would like to join in. Also, close out your bank account and open up a new one. This way they can't automatically withdraw any more money from your account.
Sheldon
Hallandale, Florida
U.S.A.
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