North American Bancard Complaint - Watch Out For This Company - It's Like Selling Your Soul To The Devil!
Terrible customer service, fee that are 4 and 5 times what NORMAL credit card processors charge..and what EVER you do...don't EVER get hooked up with CAPITAL for MERCHANTS for a cash advance thru North American Bancard. Their fees are OUTRAGEOUS, their interest rate ABSURD and if your sales volume is low..they will do a bank execution!!! They tried to steal $30,000 out of our account in ONE DAY! (3 - $10,000 withdrawals attempted all on the same day!!!) Naturally, sales were off so we didn't have it for these crooks to steal, and it was "reversed", as we filed an illegal withdrawal form with our bank. ALSO, they call and THREATEN to up your interest rate to 40% if they feel your sales volume is not what they want it to be for their "pay back" schedule.
Been trying to reach a contact at North American Bancard for DAYS to discuss my account, and the extension I have takes me to a computer generated male voice, and I leave voice messages..but NO one calls you back. I do give the guys who handle the balance inquiries for Capital for Merchants credit..because they answer their phones, they return calls and are overall gentleman.
The rest of this company is shady just like mentioned in all the other complaints here! I welcome feedback from the company since I can't seem to reach anyone.
Company Response on 2/25/2009:
Regarding the Capital for Merchants advance, please contact our offices to discuss the issues surrounding your advance, as it is inappropriate to discuss the details on a public forum. However, I can assure you that they do not arbitrarily debit accounts from merchants who are experiencing slow sales. They will debit merchants who violate their contracts and switch their processing or otherwise interfere with their contractual rights to the
previously purchased receivables.
Please contact us at your earliest convenience at 866-506-8568.
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