Chyp LLC

Request has been submitted to Chris A at Chyp to reach out to you to resolve.

Complaint: [redacted]
I am rejecting this response because:Chyps' claim is...

false.  Our overall effective rate was never this high with our previous processor.  I would not be wasting valuable time with this complaint if we were actually saving money with Chyp!  Chyp's scheme/ "business model" was to lease $380 worth of processing hardware for $11,578.59, which they received up front from a leasing company, Ascentium Capital.  Chyp's unscrupulous sales representative, "Bryce" lied to us, made a handsome commission by signing us up and then immediately left the company.  Chyp's Vice President of Inside Sales, Jeff S[redacted] even admitted to me their company is still cleaning up after Bryce.  Chyp should do the right thing and buyout the lease for $14,778.40, which we were deceived into signing with false claims of saving. 
Sincerely,
[redacted]

Complaint: [redacted]I am rejecting this response because:
Hello,I am sending you this because it is signed, and I did not want to put his identity and signature in the public,Thank you very much.[redacted], MT 59602[redacted]-----------Attached document text----------To whom it may concern:I was a witness to the negotiation for the acquisition of a credit card processing machine at [redacted]The sales pitch started with the salesman talking and then calling his supervisor on his cell phone. The discussion was conducted with the supervisor with the phone on speaker so everyone could participate.There was a lengthy discussion about the feasibility of the contract because of the fact that very little credit card business was done at this business and it would not fit the criteria for reasonable rates from this provider. The only credit card statement provided to the potential new company was the previous month statement from the previous provider, which showed one transaction for approximately$1800.00. In light of that fact, it was determined that if the new company was not satisfactory after trial,that the contract could be cancelled with no early cancellation penalty which was agreed to by the supervisor on the telephone.Sincerely,[redacted]

Regarding Complaint [redacted],
Chyp has spoken with [redacted] (merchant) and it appears the issue is that the volume of credit card transactions has greatly diminished. Due to this, merchant does not want a merchant service account any longer. Chyp has offered to repay fees charged thus...

far and issue $500 Sign-On Bonus immediately. This was declined. Chyp presented a “cost” pricing structure to provide maximum savings to merchant and eliminate Chyp’s profit by doing so. This was denied as well. Due to the lack of volume, Chyp has offered to waive all miscellaneous fees and lower monthly minimum to $5 to provide low cost if no processing occurs. This was also denied.
Chyp has honored this merchant’s request to terminate the processing account at no cost.
However, merchant signed into a non-cancellable lease agreement that will not be terminated, and merchant can still use equipment with Chyp or elsewhere.
Chyp has offered resolutions to this merchant’s complaint but they have been declined.
 
As always, Chyp is here to help!

Regarding compliant #[redacted]
 
GoChyp issued [redacted] reimbursement check for their previous processor lease on January 18th 2017. GoChyp’s record show that this check cleared on January 24th 2017. GoChyp has directly deposited a reimbursement for $99.29 (November lease...

payment) and for $22.02 (Pro-rate). Out of good faith GoChyp is reimbursing $94.00 for the Overdraft fees incurred. At this time, [redacted] is still processing with GoChyp.
 
GoChyp has called every day and emailed and has had no response from [redacted].
 
GoChyp looks forward servicing this account with any future needs!
 
As always, GoChyp is here to help!

Complaint: [redacted]
I am rejecting this response because:Chyp has further more denied that dishonest sales tactics that are employed by their agents are the responsibility of Chyp.The equipment leases are hidden in the contract and not mentioned at the time of signing in any way.The contracts are not spoken of as no one would sign a none cancellable agreement, furthermore confirming the fraud of this company.Chyp seeks to write agreements that they cannot honor and sell equipment leases that they get paid on even after terminating a business relationship with Chyp.They are dishonest.
Sincerely,
[redacted]

Regarding Complaint #[redacted]   GoChyp and Adams Automotive are working together towards solving the issues at hand.   The Sign on Bonus of $300.00 has been issued to Adams Automotive and GoChyp apologizes for this delay.   GoChyp looks forward to providing processing services for...

Adams Automotive.   As always GoChyp is here to help!

Regarding Revdex.com complaint [redacted],
This merchant’s processing account and lease have been closed per this merchant’s request.
 
Thank you,

Complaint: [redacted]
I am rejecting this response because: The response does not resolve the concern.The concern of the lease agreement has not been resolved.Andrei W[redacted], a representative for Chyp mislead us into a 48 month equipment lease that was represented as a monthly base fee.Chyp has declined to assist in terminating a lease on equipment they did not provide.I will be seeking all legal and equitable options to resolve this dispute.
Sincerely,
[redacted]

Regarding Complaint #[redacted],                           ...

                                     1/30/1...⇄ />  
GoChyp has issued Mr. [redacted] reimbursement check of $500.00 and it has been sent out in today’s mail.
 
GoChyp has spoken with Mr. [redacted] and no further issues remain.
 
As always, Gochyp is here to help!

Revdex.com:
The response is fine, however not completely accurate. The $13,000 was 4 days of batch reports and nothing to do with excessive credits. These were funds from day to day operations. I was told that we would not receive those funds until the terminal was returned. I have no choice but to accept the response because they have forced new customers to enter a lease agreement with a company(Ascentium) that has had it's legal troubles.I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. 
Sincerely,
[redacted]

Regarding compliant #[redacted]   GoChyp has spoken with Mr. [redacted] and all offers of help have been denied. GoChyp offered a cost pricing structure to Mr. [redacted] and this was declined. This pricing structure would have eliminated the majority of GoChyp’s profit and returned to Mr. [redacted]. Unfortunately,...

this was declined.   A rate review was performed and what was discovered is that Mr. [redacted]’s business is accepting a high number of American Express cards. GoChyp simply “passes thru” American Express pricing and does not profit from these transactions. Due to this, savings have been effected greatly.   Per Mr. [redacted]’s request and out of good faith, GoChyp has waived the processing Early Termination Fee of $999.00.   As always, GoChyp is here to help!

Regarding Compliant #[redacted]   GoChyp has spoken with Ms. [redacted] and unfortunately all offers of resolution were denied. Ms. [redacted]’s processing account is closed and an Early Termination Fee was not charged. Ms. [redacted] signed into a 4 year, non-cancellable equipment lease agreement with...

Ascentium. This equipment can be programmed to be used with a processor of Ms. [redacted]’s choice. As stated in the complaint, Ms. [redacted] did not process and GoChyp’s reimbursement policy for held funds is 30 days of processing are required before this is issued. GoChyp has offered to assist with Ms. [redacted] processing but this was denied.   As always, GoChyp is here to help!