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First Data Complaint - Another First Data Ripoff

Review by livery123 on 2008-10-30
FREEPORT, NEW YORK -- Just another First Data credit card processing ripoff. Stay away from this co. if you want to accept credit cards. $119. removed from my account in Sept.2008 for a compliance fee. Read my contract and see nothing about it. They have 119,000 merchants signed up, you do the math. You are stuck with a 3 yr, contract, $75 fee if you break contract and $35 a month until contract is up.

What is the legal way to break the contract or get your money back? Sounds like a Rico Act situation but who will take action.

Any ideas out there would be appreciated.
Comments:1 Replies - Latest reply on 2008-10-30
Posted by Anonymous on 2008-10-30:
The real problem is First Data operates in a very grey area. They are not a bank or a company that can be regulated by the Federal government even though they handle billions of dollars in bank transactions. The make up the rules, they change the rules and they break their own rules. And there is no watchdog agency watching them.

The worst part is they have bought up all of the smaller processors like Card Service so if you jump ship and go with another company you are probably still doing business with them anyway. First Data is truly the 800 pound gorilla in merchant processing and the know it.

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