Velocity Merchant Service VMS unfounded purposeful merchant ripoff of my merchant checking account and the fraudulent charge for discontinuing services Downers Grove, Illinois
I was offered a processing date at Velocity Merchant Xervice 4/9/15. The rate was slightly lower the the one I had I was also offered a terminal with a contract with First Data whicn I de loned Instead I purchased a refurbished terminal paid cash for the termi al, I also was using the company I previously was using I was told that there was no time limit to this agreemeng and if I didnt use the germinal there would e a $25.00 fee monthly After reviewing my prior company I found that VMS was not cheaper I stopped using the terminal I July I o to dr I sent VMS a certified letter to the effecy that I no longer was needed their services and discontinue taking funds from my account remi ding them that I pur hased my terminal from them and had no contrace
On Octobef 2, 2015 I received a letter from Velocity Merchant Services that I owed them $869.00 for early termi ation fee. I told them that I signed no such binding contract I asked them to send me a copy of that co tra t that stated ghere was a dis o tinuation fee of $869.00 As od todate I have not reveived such contract Tnere is not one in e istancd