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Cynergy Data & First Funds / Over charged, lied to, still being charged

1 Pasadena, CA, United States Review updated:

We have several problems with this company. We had taken out a small business loan with them several years ago through a company called First Funds. They use Cynergy Data to process their account. The interest rates were extremely high, but we needed the cash so we signed on the line. After our first loan was paid, they offered us another. Then we noticed that our loan seemed like it wasn't going down. They had tacked on another $1000+ to the loan in small handwritten print into our second loan docs, which we didn't notice. We paid them off and decided to be done with them.
We were offered a better rate with a new credit card processing company and changed in April of 2009. Cynergy Data continued charging us. We had a two year contract with them and we were well over the 2 yr limit. They claimed they needed us to jump through some hoops to stop charging us. So we did what they asked to cancel them. Today, they took out another $450. They claim that we had a 3 year contract and that it is the fee due because we had 2 months left on our contract.
I'm looking for anyone else whose upset with this company and I"d like to see if we can get any of these over the top fraudulent charges refunded.
Thanks for your time and effort.

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  • Ja
      20th of Aug, 2009
    0 Votes

    I agree. We too are going through a similar issue with this Cynergy Data. A lady by the name of Christine was managing our cancilation.

    To get you all up to speed with our situation. We originally signed up with SmartPayment Solutions in October of 2008 and in the begining everything was fine until we started to notice extra charges being run through our connected bank of america account. We were using SmartPayment to process our ACH transactions and a company called EquityCommerce (Another scam company) was processing the credit card transactions. When we went to confront SmartPayment about the issue they were friendly and tried there best to resolve the issue and they even gave us the contact information for the Credit card proccesor ( Equity Commerce ). So we contact Equity Commerce and they told us that we didn't even have an account with them. I was furious and thought that it was Smart Payment Solutions who was at fault. Come to find out it was Equity Commerce who made the error. Equity Commerce moved our account to CyneryData with us even knowing they stated because it was hi risk.

    We contacted CynergyData to close the account and get all remaining credits released from the account. The main issue was that we processed a card for 2, 000 dollars through a virtual terminal in January 09 ( over eight months ago) they stated that because the site was not live we could not get access to the money because of risk of charge backs. Well i contacted Visa which was the card type of the 2, 000 transaction and they have a limit of 120 days before anyone can report a fraudulent transaction we were well over that time limit. Till this this day they are giving me the run around and not canceling the account. I faxed in a letter with the information they required on it for cancelation but then they said that my signature was not on the original contract so they could not process it. They also lied and said that they left several messages for me to inform me with that news but I never received any calls from them. Up until the date of this letter they still are holding my funds and collecting interest on it on there end. The funds are probably in a high interest bearing account that they own.

    Guys do not use CynergyData ( Cynergy Data) they are scams!!!

    Also Equity Commerce is an affiliate to CynergyData as well as Solveras Payment Solutions - and they use CynergyData as their credit card processor. We are now going back to where we have our other gateway accounts setup under. I am so upset that we had to learn the hard way but I am writing this to warn others of these horrible companies.

  • Da
      20th of Aug, 2009
    0 Votes

    These are stories for CNN to investigate. I too have a story involving First Funds; it is with another credit card processing company. I obtained a cash advance from my credit card sales. My contract was different from what I sumitted; it had written in changes that I did not made and did not see until the loan was completed. The interest rate was different from what was quoted. I seeking legal advice.

  • Vr
      26th of Mar, 2010
    0 Votes

    i will go into detailes of my complaint about solveras payment solustions as soon as it's cleared by our legal representatives. but for now, i suggest you contct BBB. BBB office handling complaints in their area is best reached at 931-503-2222

  • Th
      6th of Jun, 2011
    0 Votes

    you are all a bouch of idiots that dont understand how a contract works.
    take the time to read before you signed a contract.

  • Bj
      28th of Jun, 2011
    0 Votes

    You should file your complaint with the U.S. Department of Justice Financial Fraud Enforcement Task Force through the Internet Crime Complaint Center (IC3) that was established by the FBI, the National White Collar Crime Center (NW3C) and the Bureau of Justice Assistance (BJA). The link to their web site and online complaint form is at

  • Al
      30th of Aug, 2011
    0 Votes

    at the Jack a$$ before me..we all signed an agreement! Don't be so daft! Cynergy Data LLC plays by their own rules and overcharging people and locking them into contracts and continually charging people is how they make their money! I am taking everyone's advice and nailing these scums against the wall.

  • Al
      28th of Aug, 2012
    0 Votes

    At the dumb f*** after me.. Contract or no contract.. I was refunded because I filed a complaint with these places.. Post your non-sensible BS elsewhere..Cynergy Data's contract is nonbinding...

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