I called my Washington Mutual Bank asking how I can accept credit cards through my bank for my new small business. And by small I mean fewer than 5 thousand a year. They directed me to Northern Leasing and told me I only had to pay 51.19 a month for a contract of 3 years to lease and then own the credit card machine. At that point I would be charged only 1% or something for my transactions that would benefit me rather than 5% of every transaction if i had this card swiper.in no way did she tell me that if I did not meet the 1,000 minimun I would be continuosly charged around 31 dollars just to have the machine. I then found out that I could put that seperate charge on hold and just make it seasonal otherwise I would have to pay a few hundred dollars to cancel and could never even use it again. Then I told them how I could get out all together since my business is no longer in operation and there is no way to get out of it, not even by selling it or transfering it. So now I am paying almost 100 a month for nothing because even if I do make one sale I would have to pay more than it is worth. I am going broke because of this company and am constantly putting money in my business account so I don't get sued. And even when I think Im out of it, they charge me 80 last month which incurred me 64 dollars in overdraft charges and insufficient funds because they forgot to put my account on hold and also forgot to mention that there is a start up fee which they forgot to add back in May when I siggned up.
This is the biggest rip off ever! How are people starting a business supposed to survive in this economy alone without in turn being totally ripped off by your own bank and scams like this one.
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