I ran into major problems with a recent payment processor NABancard with horrible customer service!!

I suggest staying away from them also watch out most of these places hit you with huge fees if you cancel early and they sneak all sorts of monthly fees into your contract. I have a good friend in the industry and he has showed me some of the contracts and how much power they really give the merchant provider after I told him about my problems with North American.:angry:

Unfortunately, you're very correct in that most merchant processors have a termination fee clause. And this fee is rarely ever disclosed during the sales process... making for an unpleasant surprise at a later day.

Typically this ranges from $150-250 but I've seen a few that are up to $1,500 although that is on the high-end.

It is always ideal to sign up with a merchant processor that will fully waive this provision in writing for you. This way, you don't have exposure in the event that you later decide to move elsewhere or otherwise no longer need the account.

This is why it is always good to read the contract. Luckily we signed up with Corey & Russ over at http://www.merchantaccounts4less.com - they disclosed everything to us. They told us that there was a 6 month contract. I told them that if I was not expecting to be in business in 6 months, I would not even think about a merchant account. There was one company that wanted me to sign for three years. My last marriage did not last that long!

I am just now finding out how horrible these people are.

I tried to cancel my acct as I have been getting charged a $25.00 "min fee" every month that I was not told about.
And they said "Oh, you have a 36 month agreement,didn't you read that?" So they faxed it to me and sure enough on page 4 it was there. But I was never told about that. And when I went back to my original application, it was only pages 1 and 2!! It mentions pages 3,4,5, 6 but I had never received them.

And we told the sales person we run few very high tickets, like 15,000 for furniture. Fine he says. And then they gave us a 900 high ticket. And my application was changed to $900.00 high ticket after we had signed it.

So I called them and told them the application had been altered, and I had never received the other fine print pages, and wanted to cancel with no fees. I sent them our original application. I sent them the email from the sales rep with the application file in .pdf that was only two pages long. The girl said she'd look into it with her manager and get back to me.

And when she got back to me she said "I don't know if you received pages 3-6 or not,but you signed the form on page2 indicating you accepted the terms on those pages, so you are bound by them. Period. And as far as the form being altered, they said they'd go ahead and honor it as I submitted it, with a $10,000 high ticket limit. They don't know who or why it was altered, but they were prepared to "undo" the alteration, so there was no getting out of the contract.

When I probed into who John Tucker was, the sales rep, they washed their hands and said he was an independent sales rep, don't know how this could have happened, we'll look into it, but meanwhile you signed it, and you're stuck with it.

The only possible relief they offered me was they offered to price match someone else's rates. If I could find a place that offered, say a high discount rate on transactions but no monthly fees, they'd match it. So I might be able to do that and effectively cancel my agreement by letting it just run out (providing I remember to cancel exactly when I need to 3 years from now, otherwise it auto-renews!!).

I'm not happy and ready to do battle with them. They had this John Tucker working for them, altering contracts, leaving out pages, and snaring people left and right and then sticking them with high monthly minimums and 36 month contracts. If it's not actually illegal, it's certainly deceptive and dishonest and the fact that they'd go along with it indicates to me that they really have no problem with these sales tactics.