Honestjohn1961
Gloster,#2UPDATE Employee
Tue, December 22, 2009
Dear sir,
I have been with Cardpayment for over 4 years and I can tell you when I was a new Agent I said some things that were also in error, and I had to eat crow. There is a lot to learn and regulations change weekly. On the bottom of your application on the first page printed in Big Bold Red Ink it states we are an ISO of Wells Fargo bank, which means we are affiliated with them but not owned by them. This was a misconception even I had at first thus wrongly stating this as well. It is a common error and I am sure was not done intentionally to bribe your business to us. The other things you state about the Qual fees being the same as the mids and nons is not a problem. I think were you may have miscommunicated with each other is on the rates them selves. The fees are different from the rates and it is normal to keep the fees the same across the board, but the rates is a whole another matter. No one would quote you all three rates at 1.60% since Visa and Mastercard charges us more than that. The part about no leaving you a copy goes against everything we are taught in keeping the transaction honest and earning your trust. I have no expalnation for thatexcept hopefully she was nervous or in a rush. The only way you were charged the $25 monthly minimum is if you had NO transactions to offset any of the charge. The $8 would be the statement fee which is normal, and the credit limit of $25000 should have been figured based on your credit score and current sales. If you did not give a copy of your existing processor's statement to Elizabeth with the initial application, then you took away one of our cjecks and balances we look at on evert new account. Thus making it easy to overlook a need to increase your credit line. All you had to do was furnish that or three consectutive months of bank statements and your limit would have been raised accordingly without the threat of a 5% penality even entering the picture. The application fee is normal also and is usual held by the company depending on the equipment agreement. so if you paid $43 a month and $25 of that was a minimum charge and $8 was the statement fee that only leaves $10. That is pretty reasonable for since you obviously didn't process much and you have a new machine in your possession with no lease payment. I am not saying Elizabeth didn't make some errors, but it appears you have some ownership here as well. I bet if you would have given her a chance she could have explained her mistakes to you and ya'll could have worked out these minor dealings instead of bashing a good company like Cardpayment.