Response to the Top 5 Most Common Merchant Account Complaints

We love Merchant Maverick, a great website that helps small business owners learn about credit card processing and decide which merchant service company will be the best for them.  In fact, many of our members tell us that they found Payment Depot by first reading reviews of other companies on MM.  So when we saw this great article posted this week by Levi at Merchant Mav, we thought our members would appreciate our take on it too. First, maybe start by reading their post:

The Top 5 Most Common Merchant Account Complaints

Now, here’s our take on the top complaints about merchant account companies (Other than Payment Depot!)

1.       Difficulty Cancelling Services– Levi is right. You shouldn’t be forced to stay with a merchant service provider if you want to cancel.  At Payment Depot we don’t want anyone to be “stuck” with us.  We want to create long lasting relationships with our members and we want them to stay with us because they want to, not because they have to.  So we don’t have a contract and you can call our customer service to cancel your membership any time.  We actually go one step further and offer a 90 day money back guarantee on your membership fee!  If you try us and need to cancel for any reason during the first 90 days, we will refund your entire membership fee.

2.       Bad/Expensive Leasing AgreementsWe don’t lease out equipment at Payment Depot.  We have seen merchants who have paid thousands of dollars over a 3 or 4 year period for a terminal that could have been purchased for a few hundred dollars.  Leasing equipment is almost always a bad deal for a merchant and it is something that we choose not to offer even though it would be highly profitable for us.  All of the equipment that we sell comes pre-programmed and ready to use and is supported by our in house technical support.  Our terminals start at $299.

3.       Deceptive Sales Tactics/Representatives– This industry is known for being dishonest and for taking advantage of hard working business owners.  At Payment Depot, all of our members receive Interchange + 0% pricing.  We pass through the dues and assessments from the card brands and show everything on the statement.  We know that business owners value their time which is why we do not use outside sales agents or cold call prospective members.  We rely on our own advertising efforts and word of mouth to grow our company.

4.       Poor Customer Service– We pride ourselves in having the best customer service in the industry.  We actually get more excited when our members send us thank you emails applauding us for our service than when we just save someone money.  We take great care in hiring the right people here at Payment Depot and our support team is encouraged to spend the time to really get to know our members.  We don’t use scripts and our member support and tech teams are instructed to take as much time as needed to solve a problem for a member.  When you call Payment Depot, you can actually talk to a real person because we hate automated phone systems as much as you do.  We have many members who have had such a great experience with a particular team member in our service department that they contact them directly and we love that!

5.       High Fees– With Interchange + 0% pricing, you can’t get any cheaper than that.  We have actually had members who have left us because a salesman offered them a deal that sounded too good to be true only to come back a month or two later when they realized that they were paying way more than what they were promised.  Sadly this happens too often in this industry.  If someone actually offers a better deal than we are offering, we will be the first ones to tell you to take it.  Our model is simple and for most businesses you will save a lot of money, but if there is a better deal for your business, we want you to take it.  We only want happy members who see the value in what we offer.