Merchant Processors the new Merchant Pirates?

Man, nothing gripes my ass more than surprise fees. Especially when they are like $250.00. That is what Moneris Solutions is going to charge me if I terminate my contract with them early. First of all I started with my bank to process my credit card transactions in 1999. Then they were bought out by somebody a few years after that and they switched card processors to Moneris Solutions. A nice letter came in the mail of the transition, but I have no recollection that I was informed that I was now signed up for three years terms renewed automatically forever without a letter of cancellation and if I terminated early I would be required to pay a $250.00 early cancellation fee.

First of all, if your service is good and you provide good customer service, do you really have to lock in your customer to a three year term?

And if they want to leave do you really want to zing them for $250.00 and have them write a blog about the outlandish fee on the internet?

It reminds me of my first foray into processing credit cards. I was new to the game and signed up with a company who promised low fees and ease of use. The contract was large and my eagerness to just get a merchant account caused me to overlook the fine print that the internet link to process credit cards, was actually software that I purchased for $1600.00. What a con that was and what a nightmare to get out of that one. I could tell the person on the other end of the phone was kind of sheepish and sorry that I got zinged by their company and crooked boss.

So I did a little better I thought with my new bank, until 2008 when I found Bank of America was charging less for discount rates and a heck of a lot easier to use.

Well Moneris Solutions, you got me. You got your fucking $250.00 and I hope you ball it up and stick it up your fucking ass.

Newbies to credit card processing, beware the waters are filled with sharks who pray on new businesses.

As for me, thanks Bank of America. You've been doing me good for years now on many products like checking, home mortgages, payroll, and now credit card processing.

Over and out.