December 4th
Let me tell you of our experience. Our first contact was by a phone solicitor who set an appointment for a representative (Anthony Salerno) to meet at one of my offices. On that phone call I indicated I had very low rates and was offered a rate of 1.7%. I clearly told the caller we were an internet company. They later claimed the caller was not knowledgeable and must have quoted a rate for a swiped card. (The first of several events or facts that did not come true)
On the day he was to be there, he called my cell phone indicating he was at my office and was wondering where I was. Mr. Salerno was 45 minutes early for the appointment. I indicated I would be on time for our appointment. Upon arriving at my office, I waited for some time for Mr. Salerno. After quite a long time, I called him. He said he was at Mac Donald's and had gone on another appointment and would be to me after that appointment. I should have known that someone who would be so inconsiderate would not be someone I should do business with. None the less, I met with him. I had to wait over an hour. I had no reason to be at my office other than to meet with him. (The second of several...)
Merchant Lynx has a promise that they will give you a check for $500 if they can not beat your current rate. While meeting with Mr. Salerno, we indicated we had a rate that he was unable to beat. He was able to match our rate and offer two minor benefits. One was a promise of 24 hour deposits. The second was that our deposits would be the total charged and the fees would come out at the end of the month. Since the rates were virtually identical and there were some benefits, we decided to go with his plan. He was completely aware that we were not paying a monthly fee for our current services.
Almost immediately we noticed the deposits were not being made within the 24 hour period. (The third of several...) We placed numerous calls to Mr. Salerno and received NO return calls. (The fourth of several...) Subsequently, we made a series of deposits totaling approximately $30,000 - the largest was approximately $11,000. The entire day deposit was held. The company claimed to have tried to reach us but gave the excuse that they had the wrong phone number for our records.indeed that mistake did happen. On another charge, our customer saw the charge on his account, called the toll free number (which Merchant Lynx printed incorrectly) and charged back his purchase because he felt we must have been an illegitimate online company because the phone number went to another company. As for the hold on the $30K, we had to wait 8 days for the deposit! We approached this subject in detail before signing a contract and was assured this would not be a problem of more than a couple days if it were to happen. (The fifth of several...)
Lastly, we finally decided to go with another company as a significant amount of the deposits did not get applied in the promised 24 hour period and due to the $30,000 hold for 8 days and it was impossible to reach Mr. Salerno. I find it impossible to do business with a company who's sales representative does not return calls. Once we did this, they produced a contract showing that I initialed a page of the contract for two credit card machines for a LEASE for 48 months at about $60 a month each. There is NO WAY I would have knowingly signed such an agreement. There was a place to initial at the bottom of the page and it appears as though I signed it, however we were very rushed and our salesperson NEVER told us of a 48 month lease. Papers were pushed at us to sign and I felt comfortable signing as I had asked for full disclosure of any fees. I assumed, incorrectly, that I was signing a paper based on what was told to me in our meeting. I was not the only one at that meeting. No one recalled any mention of a 48 month lease!!!
They will not cancel the 48 month contract. I am a successful businessman who owns three companies. I am a college graduate. Would it make sense to switch to a company with rates no better than what we had and then add $60 a month for two machines? I refused for 10 years to sign a 2 year contract with my phone company and paid full price for the phone because I have a policy of not locking myself into a supplier until they have proven themselves.
On a phone call with the regional manager Bill Brink, I was told that they would refund my cancellation fees immediately. That did not happen (The sixth of several...) Subsequently, we had an "in person meeting with the regional manager, Bill Brink and Anthony Salerno. He promised to refund the $700 cancellation fees (two $350 fees). He promised this in front of two of my employees and was asked to put it in writing. He said there was no need to put it in writing as he was giving his word. To date, this has not been done. (The seventh of several...) Interestingly, Mr. Salerno mentioned there was a $250 cancellation fee on our first meeting. (The eighth of several...) According to his supervisor, Mr. Salerno has been with the company for several years. Funny that he "forgot" the cancellation fee was $350 if you cancel in the first year. Yet another fact that was not portrayed correctly.
Can you believe the regional manager attempted to defend Mr. Salerno's irresponsible behavior? Oh yes! There was an excuse for everything. I have found that this type of customer service is a reflection of the ownership. First of all, I would never hire a person with such a poor concept of customer service, secondly both would have been fired on the spot for acting the way they did.
All I want is to be rid of this company and the monthly fees. They "claim" they can not cancel the 48 month lease. I am sure they could find one of their new customers who could take our equipment and change over the payments. This was never suggested.
Every dealing with this company has been fishy. Beware!
Update 2-20-08 Over a month ago, I received a call from a south Florida representative of Merchant Lynx. He was unaware of our problem. He promised to "get things resolved" and would be back to me
Update 2 27-08 The credit card terminals, which I was charged almost $3000 each for, can be purchased NEW online for $135. What a rip off!!! These folks are criminal. Be advised! They are selling on ebay new for $89.99 used. Most companies offer these for free when you sign up with them.
I called Merchant Lynx again the other day with a promise that I would get a call back, again... No call.
Dino Rachiele
President, Luxury Home Products, Inc.
Rachiele, LLC
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