A year ago I signed up with North American Bancard to use their wireless terminal at my inspections. I thought having a credit card machine on site would make credit card payments go smoother. After a year of using the machine I determined that the system wasn’t working very well for me. Booting up the wireless machine and completing a transaction while agents and my clients wanted my attention to review the inspection report just wasn’t working.
I decided to cannel my service. I found out that buried in the fine print of my contract that I am obligated to a three year contract (never mentioned by the salesmen!) and if I terminate they will accelerator the service and equipment rental fees for the remaining two years ($800.00). The sales person told me that this policy was universal in the industry. That is a lie, it is not! I had no such obligation with my last vender and I have no such obligation with my new vender.
Since I have to return the equipment and there is no loss to the credit card company there is no justification in charging the excessive cancelation fee.
I was a fool!
I recommend avoiding this company