Merchant Services Scams

If you own a business you probably get several calls a week from merchant service companies who want to do your credit card processing and save you money. I don't know how we get on the call lists but my business seems to be on all of them. They promise lower transaction fees and better service (whatever that is) if you will just sign up with them. First of all these are just commission telemarkers who know little about what they are selling (my opinion)and all the strings attached. So be careful before you change to any of these and ASK FOR REFERENCES.

Many have hidden start-up, paperwork or initiation fees that are not refundable. They may have other transaction fees over the percentage of the sale and big chargeback fees. The contract may lock you in with no way to get out for a long time plus long waits on their customer service phone lines. Remember that you will be trusting them with the processing of your good customers credit cards and allowing them to take their fees right out for your checking account. It's easy to get stuck with one of these undesirable companies but hard to get out of, Be Careful.