- Report: #350011
Complaint Review: North American Bancard - Troy Michigan
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North American Bancard
969 Chicago Road Troy, 48083 Michigan, U.S.A.
Phone:
800-2262273
Web:
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North American Bancard Stole money from my merchant account Troy Michigan
Several months ago, when we tried to cancel our account with this company and save the $15 - $20 they were charging us each month, North American Bancard refused to cancel our account, claiming a contract an officer had signed gave them the right to continue charging us. Several hours of conversations with customer service reps, during which we explained, and they confirmed, that we have never used the service yielded no help. Rather than losing additional hours over a small monthly fee, we decided to let it go.
This week, one of our clients asked to make a payment via credit card. Remembering we still had an account with North American Bancard, our book keeper, Jesse Broome, called and spoke with a rep to inquire how we could process the card through our account and what it would cost. The rep explained the procedure to Jesse and said the company would charge us a fee of 2.51% of the total charge. This morning, however, Jesse saw that our bank statement showed a significantly lower amount than was charged. He immediately called the North American Bancard only to be told that the company charged us a 15% fee. The rep was unable to explain why we were charged such a ridiculously high fee but also claimed she couldn't change it. She refused to get a manager on the phone and despite a lack of explanation for the exurbatant fee refused to cancel our account. I feel not only cheated out of over a years worth of fees for a service I didn't use - but when I did try to use the service, the company is trying to cheat me out of hundreds of dollars by charging a ridiculous 15% fee instead of the 2.51% they were supposed to charge.
Lior
New York, New York
U.S.A.
This week, one of our clients asked to make a payment via credit card. Remembering we still had an account with North American Bancard, our book keeper, Jesse Broome, called and spoke with a rep to inquire how we could process the card through our account and what it would cost. The rep explained the procedure to Jesse and said the company would charge us a fee of 2.51% of the total charge. This morning, however, Jesse saw that our bank statement showed a significantly lower amount than was charged. He immediately called the North American Bancard only to be told that the company charged us a 15% fee. The rep was unable to explain why we were charged such a ridiculously high fee but also claimed she couldn't change it. She refused to get a manager on the phone and despite a lack of explanation for the exurbatant fee refused to cancel our account. I feel not only cheated out of over a years worth of fees for a service I didn't use - but when I did try to use the service, the company is trying to cheat me out of hundreds of dollars by charging a ridiculous 15% fee instead of the 2.51% they were supposed to charge.
Lior
New York, New York
U.S.A.
1 Updates & Rebuttals
Kimberly
Troy,Michigan,
U.S.A.
Response to Loir
#2UPDATE Employee
Thu, July 24, 2008
Dear Loir: In response to the above-referenced merchant account I am providing the following information. We would like to take the opportunity to resolve this issue without further delay. First and foremost I would like to apologize for any inconvenience Mr. X may have incurred. Here at NAB we strive to provide quality service to all of our merchant's while maintaining a competitive edge in one of the largest growing industries in the country. Our records indicate that Mr. X signed a Merchant Account Agreement Application with North American Bancard on or about December 5, 2006 for a term of 36 months, upon which time he agreed to all terms and conditions contained within the Agreement. The 15% discrepancy questioned is not the Discount rate associated to the processed transaction. Mr. X should refer back to the welcome letter that was dated December 5, 2006 and sent to the address on file. The addendum clearly stated, We are able to approve your application with a reserve that will secure the performance of the merchant account. This reserve account will be set up under the name of Exoloop, Inc. and funded under the following conditions: 15% of gross sales will be deducted from your daily batch deposits prior to settlement. We have included a copy of the Welcome Letter for review in the response sent in writing. The funds placed in reserve may be available for release as also noted. Mr. X may contact our Risk Management Department to inquire on its status. In closing, our records show that this account has been closed as of July 15, 2008; any and all fees assessed remain effective, as do the terms and conditions of the Agreement. If Mr. X has further concerns, he may contact Customer Service at 800-226-2273 Ext.1300 for assistance. Sincerely, Kimberly Tippin Director of Customer Contacts
