Salesperson came and with a 2 page contract which we signed. He told us that we would receive a link too the rest of the contract for electronic signature. When we accessed the link the actual contract was 160 page of very fine print. We read it thoroughly (at least we thought) and signed it. They equipment they sent us for swiping card did not work on our tablets or smart phones, even though we showed the salesman what we had. He said out equipment would be fine. We were forced to use the PC terminal to submit transactions which is the most expensive type. We started see large fees being taken out every month and for every transaction. After a year ob bleeding money to 1st data we decided to cancel. We sent them a certified letter stating we wanted to cancel. We received a call from them stating there would be a $500 termination fee. and they gave us they section of the contract that specified this. It was a very small very obscure part of the contract, about 120 pages in. We sent them another letter showing them that the same section of the contract that specified the termination fee only called for a 1 year term. They never closed our account and continued to charge us fees every month. Now they are threatening to report the non payment to our credit bureaus. Let them. I closed my bank account with the bank I used for business. I actually closed all my accounts with that bank because they referred me to 1st data and then would not assist in resolution.
My advice. Close you account bank account associate with 1st data (otherwise they will take fund directly out) If you were referred to 1st data by a bank, close all your accounts with that bank and let them know it is because of 1st data. File complaints with the FTC and your state regulators. Although this often does no good (because neither is really interested in protecting the small business person) but if enough complaints get filed maybe something will happen. And last, I plan on contact my local news stations consumer reporter to see if they would be interested in doing a story on this. Maybe enough bad press will help.
