Complaint Review: North American Bancard

When I was winding down my business in September, 2013; I got a call from North American Bancard's ("NAB") sales rep (Jesse Hollett at Sekuremerchant Solutions.  Not sure the relations between this company and NAB).  Aware of my low transaction sales volume and $$ amount, I asked all the questions about fee, terms, ... etc.  Jesse was very smooth and convincing, he assured me that the monthly fee is $25 + a percentage of the transaction; and if I have NO transaction for a particular month, there will be no fee; and I can cancel any time.  My credit card processor at that time actually has a lower monthly fee of $20 + a percentage of transaction; However the "no transaction, no fee" feature appeals to me because my business is seasonal.  Therefore, I was surprised when I got my 1st statement for November 2013.  The fee was $128.70 which includes a never disclosed fee of $99 "regulatory fee" (btw the total receipt for that month was only $133.75).  I called and demanded to speak to Jesse, the sales rep.  They did not let me speak with Jesse but agreed to reduce the $99 fee by $50.  The next statement would have been $83.60 without the $50 reduced fee credit (total receipt was only $509.69).  The 3rd statement (Jan, 2014) shows charges of $121.12, which includes a fee of $79 for www.MYPCI.com.  I called on 3/3/14 and spoke to James who would not waive any charges but agreed to lower the monthly charges to $25/mo.  The next 3 statements were $38.95, $38.95, and $39.64, much more than the "$25/mo fixed fee" promised; the corresponding receipts for the month were:  $0, $0, and $62.15; I was too sick and tired to deal with them and let it go.  couple months passed and I realized that the credit card sales I made are consistent less than the credit card processing charges very month; so on 5/14/14 I called NAB and spoke to Levecris (I may have misspelled the name).  I was then told that I signed a 3-year contract, an early cancellation would be subject to a penalty; he convinced me to keep the contract and promised to reduce my fee to $14/mo.  I felt like that would be the only alternative I had so I agreed.  From May, 2014 to Sept., 2014, my monthly fee was about $14 to $15 a month.  But in October 2014, the fee jumped to $113.90; again too sick and tired to deal with them.  From Nov 2014 to mar 2015, the fees were:  $14, $34, $133, $34, and $34.  The Jan $133 fee probably includes another hidden fee!  The corresponding receipts for these months were:  $0, $33.95, $0, $32.88, and $0. 

I just got a letter from NAB telling me they will charge another annual fee of $99! 

It has been a nightmare dealing with North American Bancard.  There are lots of hidden fees, empty promises, failure to take responsibilities or follow on their sales reps' false statement.