North American Bancard Complaint - Deception At Its Best
Resolution Update on 02/25/2009:
I received a letter today from this company that they have canceled my account. This action was taken as a direct result of the BBB complaint I filed.
TROY, MICHIGAN -- 3/16/09 - I just got my mail. I received a notification from my bank that NAB tried to debit my account again for $109 this time. It's a good thing that my account is now closed and any debit attempts from this company will be automatically returned. So much for their desire to eliminate the debt that I supposedly owe them.
3/3/09 - This issue is NOT resolved. They just charged my account $79 and $30 after I received a letter stating that they were not going to charge these fees! Don't believe a word of their lies!!
Edit: This one might have been resolved through the BBB. I received a reply from them that I wanted more clarification on. I contacted them through the BBB on 2/3, but have not heard back from them yet.
First, North American Bancard tricked me into opening an account with them using my personal information even though I told them that I did not have all of the information that I needed to open it under my business name and my website was not completed yet.
Now, they are charging me a PCI Compliance fee of $79 which was not listed anywhere in our agreement. When I contacted them to question what this fee was for, they told me that it was a fee from Visa/Mastercard to become compliant with credit card processing. I have not processed a single transaction on this account. When I asked them to waive the fee, they told me that it was mandatory no matter what I do and that it could not be waived on my account. They also told me that I did not have to agree to the charge. Basically, they told me that they can make up any fee whenever they want and debit my account without my authorization.
I placed a stop payment on the transaction and now they are sending my account to collections. This will appear as a negative mark on my personal credit report because they used deceptive practices to convince me to open it under my personal account instead of waiting for me to be protected through my corporation. When I told them that I wanted to cancel my account, they sent me a letter stating that I have to pay a $540 early termination fee to pay for the remainder of our contract. They broke our contract first, not me. Why should I have to pay? If anyone wants to view this contract, which states nothing about a compliance fee, visit: http://www.nabancard.com/terms/terms.pdf