Merchant Account Services

Review: I called to set up account with Merchant Account Services on 3/28/14 with a swipe machine that I already had. The representative whom handled my call is named, [redacted]. He advised me that I couldn't use the swipe that I had even though he never asked the type of swipe I possessed. He went on to say that currently there is no compatible equipment for my phone and that the company was in the process of developing software that is compatible and it should be out around the end of May 2014 possibly June 2014. Due to this fact I told him I no longer wanted to go through with the service. [redacted] then advised me that it would be best to put my account into a dormant state to avoid having to go through the process all over to get pre-approved and guaranteed that I would not be billed until the software was available. I was not advised that this was a 3 year contract with an cancellation fee of $500 if I choose not to have the service nor that a third party would also collect on this account.After finding out that my account has been charged and my bank account is in the negative due to these charges, I contacted Merchant Account Services to cancel and ask for refund due to misrepresentation of their services. I spoke with [redacted], Senior Account Services ###-###-####, After explaining my situation to him, he advised me of the 3 year contract and $500 cancellation fee in which I wasn't aware of until this conversation. I asked him to please reverse the charges from his company due to non use of service and being misrepresented, He declined to due such and sent me out cancellation forms to fax back in which I did immediately on May 14, 2014.Desired Settlement: I would like any charges against my account reversed back to Merchant Account Services due to misrepresentation of services and contract agreement, in which I was not informed of until I actually tried to cancel the service. I have not used any of these services.

Review: I saw this company through a mobile app. They offer a merchant account and a free card reader with no monthly fees unless the card is used. I downloaded the app and was contacted by a sales person who again reiterated that there are no monthly fees unless the card reader is used. I was not told I was signing a 3 year contract, just a contract for services. I asked the agent more than once if there were any fees and was told that there were only for transactions. When I got my 1st statement I found Misc fees, statement fees and others totaling $13.78. After 6 times contacting the company I finally talked to someone who told me all they could do is refund my 13.78 but from now forward I would be charged 19.95 per month for the next 3 years, or pay a $350 cancellation fee. When I asked why it took six calls to finally reach someone, I was told it didn't matter because the answer would have been the same. I just want to make this go away. I would not have signed on with a 3 year commitment in the beginning stages of my business.Desired Settlement: refund of fees and cancellation of contract.