One day a very nice young man came into my small restaurant and told me that I could make money AND provide a service to my customer by leasing an ATM machine. As I had already thought about doing this, I was very excited. He went on to tell me that his company had done the research and they were looking for a business in this area and mine came up as the best candidate.
When he told me that the lease was $250/month I was a bit apprehensive, but he went on to tell me that his company had been doing this for years and that to prove this was a good deal, he would load the ATM with $1,000 (4 months of lease payments) and that after that time, if I wasn't completely satisfied and making a profit on the machine, that IQ Payments would come and get it and relocate it to another site ~ for free! What did I have to loose?
I believed him! It was my mistake and I take total blame for not reading the fine print, but that does not excuse this company for getting me into a "non-cancelable lease" that will cost me over 4 times what the machine is worth. After 60 months I will end up paying $15,000 for a $3,000 machine!!!
I am making about $60/month in revenue from the $2.50 transaction service charge (of which IQ Payments keeps $0.50)
They say live and learn, and I certainly have!!! My problem is trusting people believing that they have as much integrity as I do. I tried to call the salesman the next day, and he had given me a number that was no longer in service! Even though I have asked the company to have him call me so he can own up to his lies, he has not returned any of my calls. It has been 10 months!
Whatever you do - - -do not do business with iq payment systems!!! Or their finance company, lease financial group. Its a ripoff!!!
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