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First Data Merchant Services / false contracts

1 United States Review updated:

A First Data salesman came into my store, xxxxxxxxxxxxxxxxxxxxxxx, in March of 2007 offering to reduce my expenses from processing bank cards.

I was already processing bank cards through another vendor. The saleman assured me that he, First Data, would take care of getting me out of my current contract which ran until the spring of 2009. He wanted me to sign a four year contract, but I told him my lease was up in January of 2010, and I did not want to sign anything past that. I also stated that I might have to close the business before then, but he assured me that the lease could be transferred to a third party at any time. He further stated leasing was better than buying because I would be able to get upgrades without buying a new machine.

After I signed the contract, the reality of his lies set in. He failed to get me out of the first contract, so I ended up paying rent on two machines for two years. For the past three years I have paid them $78 a month, for a total of $2, 808, for a machine I could have bought from xxxxxxxxxxxxxxxxB ank for $250. They have never sent me any upgrade;, as a matter of fact they want to charge me $100 to make me compliant with some new law, even though I only use their machine to process transactions.

Now, finally, my lease on the storefront over, I call them to return the machine. They tell me I have to pay them for another 12 months, that I in effect had signed a 48 month lease. This is absolutely false. The salesman must have changed the terms, and lied to me, about this and the fact that the lease could be transferred to a third party, which they are now unwilling to do. There is no way I would have signed a lease for their machine extending past the end of my lease on the storefront.

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Comments

  • Eg
      6th of Apr, 2010
    0 Votes

    We signed a 24 month agreement and they are trying to collect a 48 month. We have returned the equipment and they still want us to honor a false lease. I have sent my information to the class action address listed on this site. I am so sick of the banking industry taking advantage of people...

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