Merchant Services Complaints
Merchants may have complaints when obtaining services from credit and debit card financial services companies. These companies are supposed to enable the merchant to take credit and debit card payments from customers and record business transactions. Unfortunately, failures and shortcomings on the part of merchant services companies have led to merchant account complaints.
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Sales Issues
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Merchants complain about issues relating to sales pitches and advertising for credit and debit services. Untrained sales staff may not properly communicate certain contractual terms for the merchant to properly understand, leading to problems with the exact nature of what goods and services companies are offering merchants. Some merchants may also complain about a merchant service company's advertising ploys. These sales tactics may try to entice merchants to sign contracts for services never offered or for products offered at a higher fee than advertised.
Hidden Fees
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Merchants complain about hidden fees in contracts that merchant services companies never disclosed. Such fees consist of minimum monthly payments and service fees if the merchant does not reach a card sales quota. Merchants also issue complaints about merchant services companies including such fees in the fine print of pages later added to the original contract, after the merchant had signed the agreement.
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Unauthorized Debits
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A fraudulent tactic many merchants complain about concerns the merchant services company making unauthorized debit transactions without notification. The company may have debited these fees before the merchant was able to sign up for processing services or before these services were activated. The merchant may discover these undisclosed fees at a later time when checking account statements.
Cancellation Fees
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Merchant complaints can involve cancellation fees. The merchant services company may not have disclosed such a fee in the contract or claimed the contract was on a month-to-month basis. Yet, upon the merchant canceling the contract, the merchant services company would charge a high cancellation fee for a contract agreement that the merchant was locked into for a year or more.
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References
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