Tuesday, December 12. 2006
IntelliCollect - PowerPay: The Most Affordable Merchant Account Available
Trackbacks
Trackback specific URI for this entry
No Trackbacks
Comments
Display comments as
(Linear | Threaded)
Merchant was signed up by a third party processing company. Merchant canceled the acct. and was charged the early termination fee as noted within the merchant agreement.
Third party processor also debited the merchants acct. for a early termination fee. This was in addition to the one that the processor of the processing agreement had charged. What action can be taken against the third party processor? Third party processor cannot provide any docs that were signed or initialed by the merchant to support this fee from them. They sent the merchant just a piece of paper stating that an early termination fee would be charged. But no signature.
Is there any recourse?
Third party processor also debited the merchants acct. for a early termination fee. This was in addition to the one that the processor of the processing agreement had charged. What action can be taken against the third party processor? Third party processor cannot provide any docs that were signed or initialed by the merchant to support this fee from them. They sent the merchant just a piece of paper stating that an early termination fee would be charged. But no signature.
Is there any recourse?
Hi Dena,
One of the most common causes for customer complaints in the payment processing field stems from the application of early termination fees. (This is why our company assesses no such charge.)
I am assuming that the merchant's checking account has been tapped. If the merchant contacts his/her bank within 60 days of the charge, he/she can dispute the charge and claim that funds were unjustly withdrawn (i.e., the payment processing company was not authorized to do so). The merchant should insist that the bank provide assistance in accordance with Federal Regulation E. With persistence and steadfast determination, the merchant can persuade the bank to reverse the charge, repeating the mantra that the transaction was NEVER authorized nor agreed upon.
Dena, please let me know the end result of this situation. Thank you.
One of the most common causes for customer complaints in the payment processing field stems from the application of early termination fees. (This is why our company assesses no such charge.)
I am assuming that the merchant's checking account has been tapped. If the merchant contacts his/her bank within 60 days of the charge, he/she can dispute the charge and claim that funds were unjustly withdrawn (i.e., the payment processing company was not authorized to do so). The merchant should insist that the bank provide assistance in accordance with Federal Regulation E. With persistence and steadfast determination, the merchant can persuade the bank to reverse the charge, repeating the mantra that the transaction was NEVER authorized nor agreed upon.
Dena, please let me know the end result of this situation. Thank you.