Capital Merchant Solutions

Capital Merchant Solutions credit card processor, merchant gateway, hidden fees Internet

7th of Aug, 2011 by User438020

This company engages in highly deceptive business practices. The initial contract warns that even during months when no credit card business is transacted, customers will be charged certain "compliance" fees. Those fees, however, have averaged nearly $100.00 per month, even during months in which I have not used their service at all. And even during months when I put the account into a "seasonal suspension," these fees kept coming. I was told that sometimes these fees would be high for one or two months, and then go back down to $50. But rarely were they below $75.00.
After finally becoming fed up with these outrageous "compliance" fees, I submitted a cancellation request in the middle of this month (knowing that I would be charged the $300+ early termination fee). Surprise, surprise--I was charged on last "compliance" fee, and this time it was $140.00!!! So, basically, I have been penalized nearly $500 for cancelling this outrageous service.
So in sum, if you sign up to do business with this company, you will spend an absolute bare minimum of $1000 per year, whether or not you conduct any credit card transactions at all. In short, I run a small business, and the $1200 in "compliance" fees I paid last year completely destroyed my margins. In fact, the numbers are pretty staggering: I proceeded approximately $7500 in transactions over the last year and half, while paying Capital Merchant Solutions over $2000. I'm completely disgusted.

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