After attending a Auctionteacher meeting we were introducted to this First Merchant Resource which is none other than aka Auctionteacher. Yes, I paid 498.00 to purchase my own merchant account. We were told we would own it, could sell it, it could be like an asset. What we weren't told: 30.00 a month fees for the rest of your life until you terminate the agreement which will cost you 395.00 in the first six months and 295.00 thereafter.
I called Innovative Merchant Solutions and talked to a customer service rep. He told me that the 498.00 went to Auctionteacher who acted as our agent to get it set up. Randy Judd said we would own the account and it could be sold. The customer service rep. Said it couldn't be sold but it could be transfer to another person.in other words, if my litte sole proprietorship doesn't make any money, I have to either pay 30.00 a month from now on or at least 295.00 more to get out of it.
That is a deceptive rip-off. Also, I haven't even been able to post anything from my auctionteacher webbuilder site to ebay because the auction tool is broken. Something needs to be done about this high termination fee and the deceptive practices of Auctionteacher's speakers. I truely believed them and what they were saying. My friend didn't even have a job at the time but they still took her money. Randy Judd promised all this help forthcoming from Auctionteacher to make us successful that I have yet to see.
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