Castanet

I have been a business owner for 5 years and recently changed debit/credit pos providers, to save on the costs... only to find out that I have a three year contract with the old provider and will cost $300 to get out of the "contract" that I never signed. They informed me that I had to use them for 3 years (which I did ) and because I never contacted them I was automatically signed up for another 3 years!! Has anyone else had these type of issues ???? Would love some feedback

No! I'm going to ask about that at our bank.

O-Really wrote:I have been a business owner for 5 years and recently changed debit/credit pos providers, to save on the costs... only to find out that I have a three year contract with the old provider and will cost $300 to get out of the "contract" that I never signed. They informed me that I had to use them for 3 years (which I did ) and because I never contacted them I was automatically signed up for another 3 years!! Has anyone else had these type of issues ???? Would love some feedback

Yes, it happened to me - only in my case they told me I have to wait a year or pay some obscene money. I did ended up switching anyway, but kept the account open - they just billed me a small administrative fee every month for 10 months, and then I canceled with no repercussions.

Debit/credit processing is a nasty business.

Now I'm with another provider and I love it. It's been a year, and they just called me and told me they'll lower some of my rates as a thank you. Pretty cool of them.

By the way, when I was signing up with my new provider (Moneris), they had a promo going of $300 sign up bonus. See if your new provider offers anything like this to offset the cost.

I sure hope you did not sign a contract with the same business my husband did. My husband owned a business a few years back and needed a debit/credit card machine. The whole thing turned into a nightmare. Google the business in question to see if there are other complaints. The place we had to deal with has so many lawsuits due to illegal practices. We filed a complaint with the BBB only for the organization to not respond. Make sure you know who you are dealing with and what the terms and conditions are. The place we dealt with would settle with customers only to receive another bill years later saying they owed more money.

How can a "contract" not be a contract? If you never signed anything, how can they enforce it? Heh, I should try a "contract" like that, randomly go to someone and tell them it'll cost them $300 to get out of the contract I magically made up. But seriously, per contract law, each party must gain someone ... ultimately though, what would stop you from just not using them? Will they come to the business and force the usage of their system?

It's all in the fine print which none of us read. Same happened to me, auto renewed for another three years. We signd for the auto Renew the very first time we signed up for service. It's that damn thing known as Terms of service, curse these *bleep* and their conveniently necessary cash machines.

I heard some horror stories from other business owners of being lured by low processing fees (unusually low), only to get signed into one of these contracts, all kinds of additional fees being thrown at them, and unable to get out of contract - to the point when processing company would randomly take money out of their account.

Oh, the joy of owning a business...

A company I worked for up north didn't deal with credit/debit...presumably to avoid the malarky. I don't know business, but reading this, it makes sense. There's always someone willing to dip into someone's pocket...I guess I should go back to using cash and not debit or credit! It pisses me off, don't get me wrong...I have more to say...but not here.

O-Really wrote: Would love some feedback

You should have checked with them about cancelling before signing up with the new provider. Also should have read the fine print when signing in the first place.

Sorry but those are the hard facts.

The title of the thread should be "the trouble with people signing contracts they don't read" since that is the only problem here.

the automatic rollover of a contract without offer and acceptance is illegal and has come before the courts before.

it's called Negative Billing Option

I recall a large media company here in BC that tried that, was contested and had to reverse their position and release all customers from silent rolled over contracts.

It's like saying "i'm going to take 100$ out of your account if you don't say NO... i'm not hearing anything... DEBIT"

http://www.cbc.ca/news/business/story/2 ... seman.html

http://www.sse.gov.on.ca/mcs/en/Pages/M ... tions.aspx

Thanks for the feedback !!! Initially I did "read the contract" and understood that I had to use the provider for three years (which I did). What was not clear and still isn't is how they can sign me up for an additional 3 years without any notice or my signature. My last conversation with them was you have to notify us three months prior to the expiry date and then there would be no extra charges. I asked when is my expiry date and they said Nov. OK what date ? You have to check that yourself.... well my initial contact with them was Nov but I didn't start using the machine until Jan...So what is the actual date???? I'm just frustrated