An Important PSA From Our Director of Sales
This week I ran into one of the most egregiously greedy merchant statements that I’ve ever seen… And I’ve been in the payments industry for over a decade. This statement is chocked full of additional unnecessary services and monthly fees.
Here’s a breakdown of some those superfluous costs:
- Web reports and alerts - $9.75/mo
- Support fee monthly- $12.95
- Merchants insights plus - $29.99
- Access fee - $20
- POS and Benefits Club - $9.95
The way I read this, the poor merchant is paying to review their own reports, to obtain support with their own company, to “access” American Express and they were enrolled in two additional programs, that in speaking to them, they were unaware of (i.e. Insights & POS Benefits Club). That is $82.64 in miscellaneous monthly costs. Not to mention the additional annual fee of $69 each year as if they haven’t collected enough already.
We see examples like this all the time where merchants are enrolled in programs or additional services (and by “enrolled” I mean billed for without specifically opting into them) and it is their responsibility to notice them and “opt-out”. The scenario above illustrates years of not “opting out”, and the provider continues to collect on services they are unfortunately not even providing. Don’t get me wrong – they are most likely available to this merchant – but they are not educated on how to access them…again just charged a fee that may or may not prompt a call.
The reality is, it’s bad enough that most of you must pay just to batch out at the end of the day. But $9.95/mo for a club you don’t even meet the members of, or receive any benefits from, now that’s ridiculous.
So, let this be a lesson and yet another reminder for merchants to please review your statements carefully, and if you see line item fees you do not understand please ask us! We will never charge you for customer service, and you should never pay for it, so give us a call!