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Old 17th October 2011, 07:01 PM   #1
Chabrier
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Default Beware Of Credit Card Processing Companies

Major piece of advice:

When you cancel service with a company that processes credit cards - or does any other service for you - get an immediate confirmation that they received your cancellation.

Apparently even a company such as <name removed> has interoffice mail problems. I cancelled my service with them via email and signed attachment on July 25. They claim they never got it. Even though my Sent messages include it as sent. The person I talked with in Customer Service today says there is no record they got the email. And emails go to a different department from which they are supposed to be disributed.

So beware - especially of companies like <name removed> which charge a minimum monthly fee whether you process any sales or not.

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Old 24th October 2011, 05:35 AM   #2
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Nice info....

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Old 24th October 2011, 10:34 AM   #3
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A lot of the banks will charge a minimum monthly fee and will charge you a service fee on top. It is worth looking at the fine print when you sign up because a lot of them will also have minimum terms with cancelation fees on top.

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Old 25th October 2011, 05:15 AM   #4
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Neil D is right....

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Old 4th November 2011, 04:18 AM   #5
Victor196
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Quote:
Originally Posted by Neil D View Post
A lot of the banks will charge a minimum monthly fee and will charge you a service fee on top.
With all respect this is not true. Minimum monthly fees will only kick in if greater than service fees. For example: minimum monthly fee is $40 and service fee $35. Merchant will be charged $40. If service fee is $50, merchant will pay $50, not 50+40 or 35+40.

If your processor charging you minimum on the top of service offer them to stop and reimburse all mistakenly charged fees in order to retain your business. If not, itís time to find another processor.

Itís never a good idea to sign contract with early termination fees of any kind and minimum monthly fees in the first place. Just make it a deal breaker and most processors will waive it. Get it in writing.

Itís also possible to remove all these fees even if you already signed contract. If your service fees are not constantly less then minimum tell your processor that you like their service and low rates (if you like it) and not planning to leave, but mentioned above fees are keeping you from being completely happy with them. If not removed right away let them know that many processors will be glad to reimburse your termination fees if switched to them and provide you with contract without any such fees. Get it in writing.
Every situation is different and depends on many factors. Do not do it yourself if you donít feel confident.

To cancel service I would recommend sending certified letter return receipt. Keep a copy for your records.

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Old 21st June 2012, 08:45 AM   #6
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Store owners use portable card processing machines that utilize wireless merchant processing accounts. The process involved is the same with a card present account because the credit card owners are present at the time their cards are swiped. The main difference is that this kind of merchant account makes use of wireless or mobile machines, allowing business owners to accept and process credit card payments on the go.

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