I was approached by an Entrust sales rep who came into my business and offered to give me a free evaluation of my current merchant fees. I agreed, and after a very brief look at my merchant statement from my bank, turned on her computer and showed me a graph of how much money she can save me. $300 per month to be exact. She mentioned that after I pay the $100 per moth fee for leasing the terminal I would still be ahead $200 per month. Great I said! $200 per month is a lot of money for a small business. So after she signed me up and the terminal arrived, I was excited to start seeing the savings. To my surprise, when I received the first bill, it was nearly double what I used to pay! How can this be? So I called, talked to a rep and they told me that they would re-evaluate my rates. Ok I said, fair enough. So the next month I still noticed that I am still paying at least $300 more than I used to pay with my previous processor on the same volume of sales. So I called again and they said, just wait another month and we'll bring your rates back down. Today I received my 4th bill and continue to be charged at least $300 per month more for the same volume of sales as I had with my previous processor! Once again, after calling I was told that they will re-evaluate my rates again, and also mentioned that they never promise anything and that I should read the contract! She also mentioned that the rates provide by the rep are only an estimate! Really? An estimate is usually pretty close to the actual amount not $300/month ($3600/year) from your estimate. If this is the case, than you need to rework your estimates because they are way inaccurate. And, where in the contract does it say that my rates may go up? Why would I go through the hassle of switching my merchant account if I wasnt led to believe that I would be saving money? At this point, I have saved not one penny, and in fact have spent $1200 more this year alone on my merchant fees than my previous processor, and to make matters worse Im stuck with a 5 year lease on their equipment. How can this be? How can a company promise you one thing and then go ahead and so blatantly lie and rip you off? I have to say that in my 20 years of doing business; I have never been fooled and taken advantage of so boldly and without remorse by a company as I did in this case by Entrust Bankcard. After doing a quick search online, I find that I'm not the only person who has been scammed by this company.in fact, I found that this business has an F rating with BBB and has had its accreditation revoked. Bottom line, If you are thinking of getting a merchant account or have been contact by Entrust Bankcard, my advice to you is hang up the phone and look for a honest merchant processor. One who you can trust and partner with to grow you business, and not Entrust Bankcard who will lie, scam and take advantage of you all the way to the bank.
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