Global Telecom is a check guarantee service recommended by my credit card processing company for my retail store. Signed up with them in 2008 when the store opened because we thought we would get a lot of checks as payment. Turns out they charge 31.50 per month - (ok as a basic fee) or a percentage of checks processed along with. 40 per check again ok with us as we thought we would be accepting a lot of checks and well worth it for peace of mind. After a couple of years and getting a $60 yearly fee in addition to the $31.50min per month I did a little math and turns out the fees are greater than the amount of checks processed so as any good businessman or woman would do I cancelled. They faxed a form, I faxed it back and end of story or so I thought. Turns out the debited my account for a $199 cancellation fee, which was not on the cancellation form nor do I remember signing it at any time and they continued to collect the $31.50 per month even after debiting my account for the $199 cancellation fee. Worked with my bank to reversebut because they were once authorized to credit and debit my account my bank said I would have to change accounts to get rid of them. I have sinceswitchedat great expense in time and energy. If you've ever owned a retail store and processed credit cards and had multiple suppliersyou know what I mean. They still try to collect the 31.50 and send me letters even after screwing me out of $199 for the cancellation. I guess because checks are a dying form of payment they feel they have to screw people with hidden fees knowing that most store owners don't have the time to pursue them. If you are ever considering check processing don't use Global Telecom. They will eat you alive with fees.
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