Innovative Merchant Solutions ripoff fraudulant contracts for small business credit card accounts Calabasas California
Beware! Innovative Merchant Solutions in INTUIT Company has a small paragraph in their contract that states when you sign their contract that you also agree to everything in the Merchant Agreement Book which is 47 pages long. You also agree that if they change the book you are subject to the changes. In the Merchant Agreement Book (not in the contract) there is a clause that they can and will charge you $395.00 for a termination fee. BEWARE!
Elaine
Festus, Missouri
U.S.A.
3 Updates & Rebuttals
Leanne
Calabasas,California,
U.S.A.
Termination Fee on Application
#4UPDATE Employee
Wed, March 21, 2007
If you signed up for processing prior to 2001 it is possible that the termination fee would not be on the application. However, versions printed after the fee was implemented have them printed on the face of the application. And none of the merchants who signed up for IMS's service should have been charged that fee if they signed up before that time. I would be happy to review the application if you fax it to me at 818-936-7890 so that I can assist you further.
Elaine
Festus,Missouri,
U.S.A.
Lie about the termination fee being on Application
#4Author of original report
Tue, October 10, 2006
I have a copy of the Application that I signed when I applied for service. There is NO reference to a termination fee.
Leanne
Calabasas,California,
U.S.A.
Termination Fees are Listed
#4UPDATE Employee
Tue, October 10, 2006
The $395 Early Termination Fee is listed on both the Merchant Application and the Merchant Agreement. On the application, it is just above the customer's signature. It is also referred to in section 4.01 of the Merchant Agreement. Because bankcard processing has many rules and regulations, unfortunately all the information needed to process credit cards cannot be placed on the application itself. The application however does refer the merchant back to the agreement and asks the merchant to read the document.