After I had him up and running with new equipment and was sure everything was working properly I had him sign a termination of processing form and fax it to the old company.
He emailed me shortly after- customer service from the old processor had called and told him he was going to get charged a $700 ETF. I told my guy not to fret, and to tell them he had a signed ETF addendum. Customer Service asked him to fax that in.
He did, and Got a new email from the old company- they were accepting the ETF addendum- BUT- they had already sent the ACH for the $700, so they would have to credit that back. No problem, said my patient new customer.
Three days went by with no $700 returned so my customer called his old processor's customer service line again to inquire why. He was told that he would have to get a copy of his bank statement showing where the $700 cam out. He faxed his bank statement and is expecting to get his $700 back by the end of the week.
Two things about this drive me crazy. The first is sending in a copy of the addendum. Do you mean to tell me, huge and impersonal credit card processing company, that you don't have the ETF addendum, that YOU designed and YOU sent out a part of the paperwork to be done at signing; that you don't already have that in the customer's file? I'm calling BS on that move.
But what's even worse is the request for a bank statement showing where the $700 ETF was ACH'ed from the the customer's account. YOU ACH'ED IT!! The processing company knows full and well that the funds came out of the account- they took it out!
This is a good example of a terrible processing company practise- if they can come up with enough hoops for a customer to jump through when the customer is trying to terminate the relationship, maybe the customer will give up and stay with the status quo. And it works, often enough for some companies to keep doing it.
