Let's sue First Data

[Moser Brothers]

Class Action Lawsuit against First Data. I'm going to news outlets and reporting them. I wasn't paying any monthly fees when I signed up a year ago. I'm in a 3 year contract and paid $70 in fees for $700 worth of transactions last month. 10% of the gross! They are raping me. All customers of First Data, please contact me, lets sue them

 

[Cleanworks]

In my opinion, 10 percent isn't too bad.

 

[Andy]

Most of those companies will have flat monthly fee and then a percentage per transactions ( total of transaction percent should be <3%). If you were to have more gross sales the percentage won't be as high. Reread your contract looking specifically for the monthly fee and see if that was supposed to be for the full contract.

 

[Andy]

for those thinking about signing up with any credit card processor it is not mandatory that you sign a three year contract. Insist on a month to month contract, they will then want to pay more attention to you and any concerns that may come up. The salesman are getting a residual % of your transaction fees, the higher the fee the bigger their paycheck will be.

 

[Zee]

And when I tell customers that "I only take checks or cash"....they'll question it for a second maybe... and I explain this exact situation or something similar.

 

[KevinD]

In my opinion, 10 percent isn't too bad.

Is that normal where you are at?

 

[Cleanworks]

Sorry, misunderstood the question. Thought First data was an advertising scheme. Yeah, 10 percent is high. I use moneris at 2.5 percent

 

[Old Coastie]

Square. 2.5 and they provide the reader. No monthly. Latest reader does chips.

 

[Kellie Hiler]

Square scares me. I'm not sure why, I think it's the lack of customer service they used to have...not sure if it has improved.
I use the USAepay app and process through Newtek, The Small Business Authority. Their security and customer service is awesome. I might pay a very small amount more than I would with Square but I have piece of mind with them. I've been using them for 8 years now.

 

[dgardner]

Class Action Lawsuit against First Data. I'm going to news outlets and reporting them. I wasn't paying any monthly fees when I signed up a year ago. I'm in a 3 year contract and paid $70 in fees for $700 worth of transactions last month. 10% of the gross! They are raping me. All customers of First Data, please contact me, lets sue them

What part of that is in breach of their terms and conditions (that you presumably signed)?

 

[Moser Brothers]

What part of that is in breach of their terms and conditions (that you presumably signed)?

The agent that signed me up, sold me on no monthly fees, low processing fees, amex same charge as visa, mc, and discover.

The agent quit the next week. Now I'm locked into a contract where they can raise rates on me, seams illegal. $90 for early termination. Company refunded some of the charges yesterday.

 

[Andy]

May be worth it to pay early termination fee and change processors or stop accepting cards. If they are charging you a monthly fee you will probably recoup the loss in about three months.
You can threaten to pay the early termination fee and change processors, they might renegotiate. They know that they will lose more than $90 if you do. You can do a search for Merchant services on the net, look for one that has good ratings.

 

[Ron K]

90 seems cheap to get out. Just get out and get on with it....lifes short!

 

[Barry-QDCC]

Square scares me. I'm not sure why, I think it's the lack of customer service they used to have...not sure if it has improved.
I use the USAepay app and process through Newtek, The Small Business Authority. Their security and customer service is awesome. I might pay a very small amount more than I would with Square but I have piece of mind with them. I've been using them for 8 years now.

Kellie, what happened that you needed customer support for, if I may ask. I've used Square for at least 4 years and I've never had to do anything with customer service. I just use it. Maybe I've been lucky?

 

[SamIam]

I love Costco business services and Elavon credit card processing I got a slider for my iPhone so does my son. It's easy fast no gimmicks. Less then 2% across the board except Amex which charges close to 4 to give back to their customers

 

[Kellie Hiler]

Kellie, what happened that you needed customer support for, if I may ask. I've used Square for at least 4 years and I've never had to do anything with customer service. I just use it. Maybe I've been lucky?

Back when I first started with them we had the machine at home as we had not gone mobile yet. Had a problem with the machine on a Sunday and called thinking I was going to get an answering service and have to wait till Monday to get help.
The phone rang twice and a human being answered the phone. I asked for tech support, they transferred me and another human being answered the phone and worked me through the issue and got me back up and running.
Also, at one time we had 2 businesses as I was doing housekeeping and running the second truck and we thought it best that I have a biz in my name just in case something happened to George as he was going through 31 radiation treatments on his neck and chemo and a bunch of other stuff.
I had set the processing up under my company.
I had to stop doing the house work because of my back and felt that it was too much paperwork and other stuff to have 2 businesses so I needed to transfer the processing to George's biz and bank account etc. I had a two year contract with them and they worked with me to move the contract to his biz without any problems.
They really go the extra mile to help their customers out when it's needed and that matters to me.
I read about a guy in one of the FB groups who got an email saying that his Square account had been hacked. He could not get a hold of anyone to help him out and it took him a week or so to get it straightened out, I can't remember if he was actually hacked or not but he was really upset about the lack of customer support through such a scary time. This was just a few weeks ago.
I've not needed customer support in years, but I still like the piece of mind of knowing that if I ever do need it, I will get it right away. I am very cautious and picky when it comes to the handling of my customers card info and security. I don't know how secure Square is.
I'm one of those "if it ain't broke don't fix it" kind of people. My contract with them is long over but I will never change anyway because they've always been good to me, and my money hits the next day. I've never felt they were taking too much in fees to warrant ever switching.
They also offer multi services such as marketing, website design, small business loans etc.
they're kind of a one stop shopping for all small business needs.