I am an owner of a small business and I use merchant services to process credit card payments for my customers. I have signed up with RBS WorldPay merchant cervices in October.in May I switched bank accounts for my business to a more secure one, including their own merchant services. I called to cancel my merchant services with RBS WorldPay, however they informed me that they will have to charge an early termination fee since my contract with them was on automatic renewal and that I will have to stay with this company and cannot close my bank account until October and only after giving them a 90 day notice or they will charge $200 early termination fee. This is completely unconstitutional and illegal. It violates all rights for freedom of choice of financial institutions and is extremely unfair practice by this organization. What right do they have to this money?! They were ripping me off with their high rates for years and now they want even more! This got to be illegal!
0 comments