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Merchant account termination, and or early termination fees
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MagikLair
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Default Merchant account termination, and or early termination fees - 06-02-2007, 08:53 PM

Hello,
I have a merchant account with CTS Holdings LLC .and they have been
absolutely lousy. They don't respond to my phone calls, email
nothing... I'd like to cancel, but there is an early termination fee
of $300. I do not think this company should be rewarded for lousy
service etc. They have some prohibited transactions that would cause
immediate cancellation of an account. If I said that I did one of
these prohibited transactions and the account was canceled. Would I
still have to pay an early termination fee? Yes I understand, it
doesn't sound like the *best* way to do things... Any feedback would
be appreciated
Thanks,
Brian

   
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Re: Merchant account termination, and or early termination fees
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George L. Sexton
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Default Re: Merchant account termination, and or early termination fees - 06-02-2007, 08:53 PM

On Tue, 22 May 2007 12:00:44 -0700, MagikLair wrote:

> Hello,
> absolutely lousy. They don't respond to my phone calls, email
> nothing... I'd like to cancel, but there is an early termination fee
> of $300. I do not think this company should be rewarded for lousy


It sounds to me like they are in breach. If that's the case, you can
probably terminate your account by notifying them in writing and letting a
cure period expire.

Anyhow, you shouldn't be asking here, you should be reading your contract.

--
George Sexton
   
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Re: Merchant account termination, and or early termination fees
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Viper
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Default Re: Merchant account termination, and or early termination fees - 06-02-2007, 08:53 PM

MagikLair wrote:
> Hello,
> I have a merchant account with CTS Holdings LLC .and they have been
> absolutely lousy. They don't respond to my phone calls, email
> nothing... I'd like to cancel, but there is an early termination fee
> of $300. I do not think this company should be rewarded for lousy
> service etc. They have some prohibited transactions that would cause
> immediate cancellation of an account. If I said that I did one of
> these prohibited transactions and the account was canceled. Would I
> still have to pay an early termination fee? Yes I understand, it
> doesn't sound like the *best* way to do things... Any feedback would
> be appreciated
> Thanks,
> Brian


Why not just stop using iut?
Also better talk to your lawyer.


   
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Re: Merchant account termination, and or early termination fees
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Cynode
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Default Re: Merchant account termination, and or early termination fees - 06-02-2007, 08:53 PM

On Tue, 22 May 2007 15:59:25 -0400, "Viper" <EMAIL REMOVED> wrote:

>Why not just stop using iut?


Don't most merchant accounts charge monthly?

--
If it keeps up, man will atrophy all his limbs but the push-button finger.
~Frank Lloyd Wright - www.cynode.com | (NSFW) www.cynbabes.com (NWS)
   
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Re: Merchant account termination, and or early termination fees
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Jerry Stuckle
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Default Re: Merchant account termination, and or early termination fees - 06-02-2007, 08:53 PM

MagikLair wrote:
> Hello,
> I have a merchant account with CTS Holdings LLC .and they have been
> absolutely lousy. They don't respond to my phone calls, email
> nothing... I'd like to cancel, but there is an early termination fee
> of $300. I do not think this company should be rewarded for lousy
> service etc. They have some prohibited transactions that would cause
> immediate cancellation of an account. If I said that I did one of
> these prohibited transactions and the account was canceled. Would I
> still have to pay an early termination fee? Yes I understand, it
> doesn't sound like the *best* way to do things... Any feedback would
> be appreciated
> Thanks,
> Brian
>


Brian,

Get your attorney to document the problems you've been having in a
letter and send it to them. You'll be amazed how quickly that gets a
response.

--
==================
Remove the "x" from my email address
Jerry Stuckle
JDS Computer Training Corp.
EMAIL REMOVED
==================
   
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Re: Merchant account termination, and or early termination fees
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MagikLair
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Default Re: Merchant account termination, and or early termination fees - 06-02-2007, 08:53 PM

On May 22, 2:59 pm, "Viper" <ven...@gmail.com> wrote:
> MagikLair wrote:
> > Hello,
> > I have a merchant account with CTS Holdings LLC .and they have been
> > absolutely lousy. They don't respond to my phone calls, email
> > nothing... I'd like to cancel, but there is an early termination fee
> > of $300. I do not think this company should be rewarded for lousy
> > service etc. They have some prohibited transactions that would cause
> > immediate cancellation of an account. If I said that I did one of
> > these prohibited transactions and the account was canceled. Would I
> > still have to pay an early termination fee? Yes I understand, it
> > doesn't sound like the *best* way to do things... Any feedback would
> > be appreciated
> > Thanks,
> > Brian

>
> Why not just stop using iut?
> Also better talk to your lawyer.


There is a monthly fee otherwise I would continue doing business, but
elsewhere.
Thanks everyone

   
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