Universal Funds/Middletown, CT Universal Design, Universal POS, Romi Merchant Services LLC, Universal Merchant Solutions, Comdata, Romi MS Rip us off for the sum of 2000.00 Middletown Connecticut
My initial contact with this company, was for a "cash advance" type loan, thru MY credit card machine. After our first discussion, I was told, I would have to buy "Their" credit card machine. Which I did NOT agree to do. Their process, ended up NOT even using a credit card machine. Then they went ahead and shipped me a credit card machine, for sum of $487.20, which I refused receipt from FED-EX. Was not credited back my funds taken for such, from my bank account. And they have possession of their machine, Also charge our account for the sum of 576.80 for and appt / fee.
Next I was charged $918.40 for early cancellation, for a contract that was NOT even completed nor signed by myself to complete this loan as offered.
Loan offered was $10,000(net deposit $9605.00) IF Funded to my bank account, which I could NOT touch/use any of.
They would take, $395.00 "loan fee",
then a $97.68 daily, @ 129 days , total repay
$13,800.00, for monies I could NOT even have use of. So where is the benefit of doing such a loan??? Reason why I never fulfilled this contract/agreement with Universal funding. Also we filed a Complaint with BBB # 84098459 they did nothing to help us with this company, the only thing that company is good for is to rip you off and THEY will take your money.
2 Updates & Rebuttals
Customer Service
Middletown,Connecticut,
United States of America
Rebuttal
#3UPDATE Employee
Fri, September 14, 2012
This merchant was working with our sales rep in getting him lower rates on his processing and a cash advance for his business. Our sales rep explained everything of how the process worked on getting him funding. The merchant was sent our applications , contracts for processing and our data sheet which lists our fees. The merchant was told to read everything , sign it and return it to us. We obtained lower rates on his processing that would save him money he needed to buy a new terminal which he did because his existing one was proprietary and could not be downloaded with our new processing company.We downloaded the new terminal for him and sent it to him via fed ex. While the terminal was sent to him the merchant was approved for a cash advance for $10,000.00 the only thing was the payments were going to be withdrawn directly from his bank account and not thru his daily batching because he didn't batch out enough on a monthly basis and the funding company didn't feel comfortable waiting on this merchant to sporadically batch, so they opted for an ach program so they can receive payments on a daily basis. This merchant is very confused on how this program works, we tried to explain the program again to him many times to him to no avail. The merchant canceled his cash advance and processing and refused the terminal that he paid for. The merchant was charged a cancellation fee that coincides with the sales agreement he signed. We tried to deliver the terminal several times and he finally accepted it. We did everything to satisfy this merchant but unfortunately he broke contracts with our company. This merchant also placed a complaint with the BBB regarding this issue and they decided in our favor that we did everything possible to help this merchant.
UMS FUNDS
Middletown,Connecticut,
United States of America
disgruntled employee
#3UPDATE Employee
Fri, September 07, 2012
The information stated in regards to the company are false concluding this report to be only of a disgruntled employee.