Complaint Review: MSI - MERCHANT SERVICES - LFG - LEASE FINANCE GROUP

 I have had the unfortunate experience to do business with MSI Merchant Services, Inc for the last 3 years. I was conned into a contract by a very sincere representive of the company promising me lower rates, and so on and so on. I was busy at work and was assured by him that NO ONE could beat their rates, they were a reputable company and so on. My equipment needed to be updated so I signed a lease for that.

To make a long story short, I am no longer with this company and am still paying for my equipment until next year, which I do not use anymore, due to the fact that it is outdated and when my lease expires, if I do not write in to them to cancel the lease they will still charge my account each month. On top of that, I will have to PURCHASE my equipment that I am not using for $100 when I cancel my lease legitimately according to the extra fine print in their contract or send the equipment back to them!!

I followed all the proper procedures for cancelling my service with MSI and was told that I would not have to pay the $99.00 PSI Annual Fee ( for you newbies, that is a fee imposed by MC/VISA for making sure all machines are in compliance) which was due the month of my contract expiration. I faxed a formal letter to them as I was told to do. The last statement came in and I was charged the fee. I faxed them a formal letter again requesting the refund and now, 2 months later, I'm told I was LIABLE for this fee since I used their service during the last month of my CONTRACT!!! I was SUPPOSED to use them since I was still under contract.

Needless to say, I am pissed off to say the least. I hate people who take advantage of others. This is stealing!! I WARN YOU!! STAY AWAY FROM THIS COMPANY AND NEVER SIGN A LEASE FOR YOUR EQUIPMENT!! You can buy equipment outright for pennies on the dollar compared to what a leasing company will charge you. And read the contract from start to finish. Sign nothing until you have reviewed it in detail.

I am now doing business with an honorable company and I bought my equipment outright.