Comments on: Merchant Account Compliance Fees – Legit?

By: Jerry

Jerry — Wed, 10 Mar 2010 02:39:55 +0000

I sell credit card processing and can tell you I don’t charge them. Other salesmen tell me that they put those fees on vendors who don’t process enough. AKA their comission is tiny and they want to add fees to make money. We at team-netcom.info only charge a statement fee, batch fee, and interchange fee. No pci or monthly min.

By: Tony Karavidas

Tony Karavidas — Fri, 12 Feb 2010 19:04:25 +0000

I originally received a letter stating my equipment was old (Trans 330) and if I didn’t upgrade it, I would have to pay this fee. They said it didn’t comply with modern security standards. Well, I’ve never had a security problem in 15 years and my equipment worked fine, so I didn’t want to pay a few hundred $$ to upgrade it. I have been trying to get it reversed for 3 months now, and it’s just B.S. the run around Merchant Services is giving me. I now hate them, and I’m focused on accepting Google payments and Paypal. I think a class action lawsuit is in order. Sign me up!!!!

By: cyndi

cyndi — Fri, 08 Jan 2010 17:31:21 +0000

I just opened my statement and noticed I was charged a whopping $175 for the PCI Fee!!! Are they serious?? Why are some companies only charging $30-40 and I am being charged $175? Also, I recently received and email from my merchant company stating I needed to be PCI compliant and to go to a website and go through a boat load of questions, which I did, and now I have a security sweep that goes through on my computer once a week with this website. I am also being charged a NONPCI fee of $20/month on my statement as well. Which am I, compliant or non-compliant? Can I do anything about this? If I cxl my account, which I am in the process of doing, can I get any or all of this fee back? Not only have they been scamming me on the ridiculous percentages they have been charging me but now this! My eyes have been opened……….better late than never I suppose.

By: David Bayless/ Letter Perfect Printing

David Bayless/ Letter Perfect Printing — Fri, 08 Jan 2010 16:51:12 +0000

ALI VISA AND THE MASTERCARD THIEVES!!!!!!!!!!!!!!!!!!!

By: David Bayless/ Letter Perfect Printing

David Bayless/ Letter Perfect Printing — Fri, 08 Jan 2010 15:07:15 +0000

My business Letter Perfect Printing is now in a fight over this very thing with Trans Tech Merchant Group. It is uncalled for an not stated in our contract as an annual fee or a specific amount either. They tried to charge us $124.71. Now they are holding my deposits ransom (Communistic) until the fees are paid. They are holding money that is only partially theirs. Our business will not accept credit/debit any longer because we will not be bullied into doing anything that is unfair to us as an American Small Business!!!!!!!!!

By: Matt

Matt — Mon, 19 Oct 2009 18:19:11 +0000

First Data just charged me $139.75, and I think they charged me that last year. Called and they said it was VISA/MC requirement. Funny how they all have a different story.

By: offshore payment gateway

offshore payment gateway — Wed, 14 Oct 2009 17:11:40 +0000

Merchant accounts are marketed to merchants by two basic methods: either directly by the processor or sponsoring bank, or by an authorized agent for the bank and additionally directly registered with both Visa and MasterCard.

By: Jeremy Schechenr

Jeremy Schechenr — Sun, 04 Oct 2009 01:47:05 +0000

I pay $12.50 per month for each of my accounts. I have 8 separate merchant accounts for each of my eCommerce websites.

Providing the processor a written statement the I am PCI compliant several times to remove the fees.
Every couple of months they sneak the fees back in and I have to call and write more letters.

As long as your complying to the rules of the PCI Security Standards Council with your business practices you are not responsible to pay your processor any PCI fees.

By: Luieluie

Luieluie — Tue, 26 May 2009 21:49:51 +0000

Just ask your processor what you get for the fee. If you don’t belive that the benefit justifies the charge, tell the processor that you’d like to “Opt out”. Many processors will let you as long as you sign an indemnification saying that you will be liable for any and all security breaches at your business.

If your processor says that the charge is mandatory, well that’s a change to your original Merchant Account Contract and will allow you to switch processors without any Early Cancellation (Deconversion) Fees as long as you switch in a timely manner and SPECIFICALLY state that this new fee is why you are cancelling.

I am an Account Manager for a credit card processing company. If you have any further questions about this or any other issue, feel free to email me.
luieluie@hotmail.com

By: Merchant Services

Merchant Services — Tue, 19 May 2009 03:42:26 +0000

Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. Credit card fraud is also an adjunct to identity theft.

Tips to Prevent Credit Card Fraud

1. Keep a list of your credit card numbers, expiration dates, and the phone numbers of all card issuers in a safe place.

2. Credit card issuers offer a variety of terms (annual percentage rates, methods of calculating balances subject to finance charges, minimum monthly payments, and actual membership fees). When selecting a card, compare the terms offered by several card companies to find the card that suits your needs.

3. When you use your credit card, watch your card after giving it to a clerk. Take your card back promptly after the clerk is finished and make sure the card is yours.

4. Never sign a blank receipt. Draw a line through any blank spaces above the total when you sign receipts. Tear up the carbons when you take your credit card receipt.

5. Open credit card bills promptly and compare them with your receipts to check for unauthorized charges and billing errors.