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Merchant Services Scam

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The Rabbi:
As readers of THR know, I started East Side Gun Shop and opened about 2 weeks ago.  I shopped and shopped for a merchant card processor (the guys who allow you to take visa/mastercard).  Found one with very low rates, no monthly statement fee, and no minimum. IMS to be specific.  I have had them for 1 month and didnt do any cards so didnt have any statemetns.  Today the new statement comes in the mail with the note that "because of fee increases by MC and Visa" they will have a $10/mo statement fee and $25/mo minimum.  Hello?  I sign on and 30 days later they change the entire fee structure.  No, I dont think so.  Anyone else have this experience, and what do others do for merchant services.  Thanks.

Liberty.45ACP:
Hi Rabbi -

Ouch! We have been using Echo Inc for abuot 10 years now and they have been very good. They recently lowered our rates and we are a internet only shop. Everytime I've had to contact them, they have been very helpful.

   http://www.echo-inc.com

Hope this helps.

   ---Bill Tuttle

(edit: hmm, that link isn't currently working for me - odd. but it is the correct one.)

crt360:
I couldn't get that echo link to work either.

Rabbi, I've been searching for a good cardservice company for our business.  I'm leaning toward MSI.  I've had a couple of users recommend them to me and their fees seem very competitive.  http://www.merchantservices.com/

Liberty.45ACP:
Looks like they restarted the server. First time I've ever seen a problem.

NTS is another one I've talked with and didn't like the way they do business. Many of the card processing places don't actually do the processing, they hand it off to a clearing house. Echo is one of the big clearing houses, so you bypass one level of fees. Compare them all and give them a call.

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