Versatile Merchant Solutions

Review: A sales represantitive for Versatile Merchant Solution (VMS) visited my place of business offering 1.69% for merchant services. Over & over I asked them about why their prices are low. I was told that because of their size, they can offer these prices. (I have all emails). I was told as long as we swipe cards, the rate will be 1.69%. If we punch in the numbers, we have to have another account to make sure through their company. I was also told that their fees are deducted once a month, at the end of the billing cycle. And also the funds will be available the next business day.

We started using them on 01./07. I could not see deposits until 1/12 and the ones that I saw did not match my account. I called them today to find out why the numbers are not matching and I was told a different story. ( Have been on the phone since 11 am. It is now 4:03. Just hung up). The gentleman (Tony, senior agent) agreed to give me the overcharged amount of $101.18 since they made a mistake. (total charge should have been $104.19, they charged $205.37). After going back and forth, I told him to cancel my account. I was told if I cancel both of the accounts, he cannot give my money back. And it would take 5 days to get the refund. He then offered me to match the numbers from my previous Merchant Company. He told me that he will email me a cancellation authorization via email. I have not received it yet.

Their advertising is not misleading. These guys just plain lie when asked questions. I have all the emails regarding their empty promises..

I called the sales lady who stopped by. She told me that she had stopped working with these guys because of all complaints she was getting about their rates and overcharges.

It is bait and switch, hoping people do not find out in time.Desired Settlement: I need to make sure they do not access my bank account anymore. I also would like the overcharged amount back.

Furthermore, I have referred another company and hope they will not give them a hard-time regarding cancellation an

Business

Response:

We would like to address the above referenced complaint. This merchant requested multiple visits from our Sales Associate before signing up and was given a copy of the agreement to review prior to signing. He reviewed the agreement and contacted the Sales Manager on numerous occasions with questions that were answered in accordance with the agreement. He decided to go with two accounts so he could get the best rates on his swiped as well as his keyed in sales. It appears he keyed in transactions on the wrong account and was therefore surcharged on those sales per the agreement. When he called in we offered a onetime courtesy to refund those surcharges if he agreed to continue processing with us. He agreed and then said he wanted to close both accounts. The merchants account was not initially approved for Next day funding or Monthly Discount due to future service liability. We have offered as a courtesy to upgrade his account with these features. This merchant was billed in accordance with his agreement and there was no mistake with regards to billing. The merchant became irrational and we were unfortunate unable to come to an agreement on that call. Our records show that this call was nowhere near as long as the merchant is claiming. We offered several courtesies to help him out but he was not interested. His letter clearly states the following "Their Advertising is NOT misleading" He had the full agreement and reviewed it in its entirety. At this point we have offered him a credit on the account or he may cancel. It is our goal to provide industry leading customer care and satisfaction and we believe we have gone the extra mile for this client. Sincerely,VMS

Review: Constant problems with equipment, company sent replacement equipment which also did not work. I called to cancel the account on March 10 2014. Representative stated that a cancellation letter and return shipping label would be sent and that the letter was only good for 10 days. The letter arrived in the mail without the label, I called the company back and they stated that one would be sent out. Company continued to remove money from my banking account for the equipment that we were not using. I made 5 more phone calls over a months time to get the issue resolved of sending the equipment back and cancelling the account. The company promised every time that a label was on the way but it never came and they continue to take money from my account. I called again this morning and the rude representative informed me that they would continue to remove money until the equipment was returned, when I told her that I was still waiting for the label they keep promising to send, she stated that she can't be responsible for what other representative told me. They again removed another 86.90 from my account today. It seems to me that they are dragging their feet to get as much money as they can before closing the account. They admitted that the reason for the account being closed was their fault and that is why there was no early cancellation fee. I want the money removed from my account since this started to be put back in my account and for the company to live up to its promises. The number of hours spent on the phone trying to resolve this issue is numerous and I can't afford to spend so much time trying to resolve a problem that they created in the first place.Desired Settlement: money needs to be returned to account

Business

Response:

This complaint concerns us deeply as customer satisfaction is our number 1 goal. This merchant obtainined an account with us for the purposes of payment processing on 09/10/2013 and had processing volume, used the account, from 09/16/2013 to 04/02/2014. The merchant did contact us with an issue that was caused by the merchant's wi-fi signal. We tried sending another point of sale unit out but it appears that the Wi-fi signal was at fault. When the merchant requested to cancel the account we offered to cancel with no cancellation fee but the equipment would need to be returned in order to close the account since it was provided to the merchant at no charge. We have spoken to this account holder and they have advised they will return the equipment. Once the hardware has been received we will issue a credit to the merchant for some of the fees in an effort to part on good terms. We certainly wish this merchant a successful future in his business and hope to have a chance to provide a better payments opportunity down the road.

Warmest regards,

[redacted]