mterrell77 Posted November 3, 2006 Share Posted November 3, 2006 I wont name the company because I dont know if I can on here, but I had a popular merchant account and I canceled them two months ago to go with someone else. In the contract it stated that I could cancel anytime no fees would incur. Well they just took out $350 from my checking account for a cancelation fee. After hours on the phone arguing with them about this I finally had to fax my contract over so they could see that it stated I could cancel at any time. Then they have the nerve to tell me they cannot process a refund until I sent them a bank statement showing the $350 charge and then it will take 1 to 2 months to get my money back! I dont understand how they can charge me then say I have to wait two months and show my bank statements to them to get my money back! Quote Link to comment Share on other sites More sharing options...
wonderfullywicked Posted November 3, 2006 Share Posted November 3, 2006 Call your bank and tell them it was an *unauthorized* charge. Quote Link to comment Share on other sites More sharing options...
Deliciously Wicked Posted November 3, 2006 Share Posted November 3, 2006 You can notify your bank but you also need to write them a letter not just by calling in order to protect your rights. They usually have you sign an affadavit. It's similar to the dispute process for unauthorized credit card charges. Hopefully you have a good bank. Quote Link to comment Share on other sites More sharing options...
mterrell77 Posted November 3, 2006 Author Share Posted November 3, 2006 Thank you, I will get ahold of my bank ASAP in the morning. I didnt think about doing that! Thanks again for the advice! Quote Link to comment Share on other sites More sharing options...
Deliciously Wicked Posted November 3, 2006 Share Posted November 3, 2006 Just an fyi in addition to the previous post. Your bank should be able to provide you with a printout showing the charge now instead of having to wait for your statement to cycle. However in getting the credit back it sucks that it can take awhile 1 to 2 months is about right but your bank may be able to provide a provisional credit until this is resolved especially if this puts your account at risk for becoming overdrawn. Make sure you take the contract copy along with you so they can see also about you being able to cancel at anytime. Quote Link to comment Share on other sites More sharing options...
sockmonkey Posted November 3, 2006 Share Posted November 3, 2006 Just reading this makes me absolutely furious. There is absolutely no way they can require you to show them your statments. They know your account number with the company, as well as your checking account number and they have records of it! If they're gonna mess with you, then do the same to them. If that incompetent you were dealing with is giving you the brush off so she doesn't have to do a little investigative work on her end, then by god, go and alter the bank statement to make it say they charged you $850 instead of $350. That ought to be easy enough to do. Quote Link to comment Share on other sites More sharing options...
Bev Posted November 3, 2006 Share Posted November 3, 2006 Just reading this makes me absolutely furious. There is absolutely no way they can require you to show them your statments. They know your account number with the company, as well as your checking account number and they have records of it! If they're gonna mess with you, then do the same to them. If that incompetent you were dealing with is giving you the brush off so she doesn't have to do a little investigative work on her end, then by god, go and alter the bank statement to make it say they charged you $850 instead of $350. That ought to be easy enough to do.Correct, they already have her bank information or they wouldn't have been able to take $350 out of her account. But, two wrongs don't make a right! Quote Link to comment Share on other sites More sharing options...
beesweet Posted November 4, 2006 Share Posted November 4, 2006 Arrrgghhh...my merchant account has the the same cancellation fee. When I signed up with them through a third party, I was told I could cancel anytime. When I got the massive contract, in tiny print, it says I can't cancel for 2 or 3 years or be charged $350. Quote Link to comment Share on other sites More sharing options...
David Fields Posted November 4, 2006 Share Posted November 4, 2006 My blood boils reading the posts. The same thing happened to us a couple of years ago. Fortunately we checked the bank account the morning the charge showed up and went straight to the bank. We had to provide a copy of the letter showing we had cancelled the contract and something else (I forget), but they bounced the charge back that afternoon. We never heard from the credit card processing company again. FYI.... We have used a number of processing companies in the past and finally found a great one. All of the previous ones came to us and "promised" that they could save us lots of money if we switched. NEVER HAPPENED. It always cost us as much or more, plus the hassle of switching. We have since found the secret. Never sign with a company that is not a primary processor; there are only six, if memory serves. All of the hundreds of others have to go through a primary. They all, primary or secondary, have to pay the same fee to MC, VISA, etc. The primaries charge the secondaries a fee, which they pass on plus more to us.We have never been disappointed with our current processor. HTH Quote Link to comment Share on other sites More sharing options...
Sugar & Spice Dog Treats Posted November 4, 2006 Share Posted November 4, 2006 I actually work at a bank...and yes...go see them...even though it was a contract between you and the merchant...they abused the contract. You have 90 days (at least in Canada you do) to dispute the transaction and have it reversed. Here is how it works....You sign an indemnity form...basically saying the charge was taking out of your account without authorization. Your bank within 1 to 2 business days reverses the money back into your account. Then your bank goes after the merchant...that is why it is IMPERITIVE to sign the legal document and be 100% honest and correct. If not and your bank finds out...well lets just say it's not good.Up here in Canada (at our bank) the form is called a refusal to pay form...they are legally binding and do the job nicely!Best of luck to you...so sorry to hear of this.... Karen Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.