We cancelled our service with TSYS Merchant Solutions on 10/04. They told me they were going to charge me $250 for cancelling my contract. I originally signed a contract with First National Bank of Omaha on 7/18/05 over 7 years ago. FNBO sold their credit card processing to TSYS Merchant Solutions but I never signed a contract with them. Originally, my contract was for 3 years and supposedly you have one month a year to cancel without penalty. Of course they do not notify you of your impending renewal. Anyway, I sent them a letter on 10/4 stating that I never had a contract with TSYS and that I was under no obligation to pay them $250 and that I did not authorize them to draft my account for those funds. Unfortunately, my bank said they could not block an ACH transaction but that I could dispute it when it was charged. The cancellation fee was debited from my account on November 2. I have disputed the charge and it is under review. I do not believe the contract has a cancellation fee but if it does, it should have ended with the initial 3 year period or the sale of the company. Either way, this company tries to ripoff loyal customers that they have made a fortune off of. Beware of this company and don't ever sign a contract for credit card processing.
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