When you start your business, as soon as you register it to obtain a license you will be bombarded by hundreds of these Merchant Processing Companies offering you FREE Services and Equipment with the lowest rate that the market can offer. ALL OF THESE REPRESENTATIVES WILL TELL YOU WHAT YOU LIKE TO HEAR, SO THEY CAN EARN YOUR BUSINESS. If you are approached by a representative of your local banks or independent merchant processing Companies offering you to accept credit cards, you may want to think twice about whom you are trying to sign up with.
My Personal Experience!
I was a business owner in California who was approached by Esmaeil “Ghasemi”, a Marketing Director of Delta Card Services ("DCS") d.b.a. Mechants' Choice Payment Solutions ("MCPS") formerly known as Merchants' Choice Card Services and a representative of Woodforest National Bank. Stan Paur is the CEO and President of DCS.
I was made all kind of promises and pledges by Ghasemi to earn my business. After I joined and signed the contract all attitudes changed. From day one, cheating, ripping off, lies and manipulation started. Since, I was not doing much business I did not make it much of a big deal. In one instant, I closed my Business Bank Account, and by the time, I was able to open a new one, some of my customers had paid by credit cards and the money was held by MCPS. By the time I opened my new bank account, more than $200 of my money was in possession of Woodforest and MCPS. When the credit cards transaction fees were deducted by Woodforest and MCPS, I only received about $80.00 deposited into my checking account. When I talked to Ghasemi about it, he blamed me for changing my business bank account.
This is not all!
Since the economy was bad, I was forced to shut down my business. In doing so, I liquidated the entire inventory in my store to one person who was willing to purchase the inventory for pennies on the dollar. Because I was limited in choices, I ended up selling the entire inventory to one guy who paid the proceeds by several of his credit cards. It was a total of $45, 019.98 for which I obtained approval code on every card and Woodforest and MCPS were to deposit the money in my business account within 2 days. This happened on December 30, 2009. It has been almost two months that I haven’t seen my money. Woodforest, would not return my calls. MCPS and Ghasemi have every excuse in the book for not depositing the money into my account. To make it even better, in retaliation for the lawsuit that I filed against Woodforest, MCPS, Ghasemi and Paur, they even terminated my merchant account. Today, I am out of my merchandise, and my money, and Woodforest; MCPS; Ghasemi and Paur are all enjoying my money.
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