When the chip card readers came out, my merchant processor said I needed a new card reader. My merchant processor gave me a discount on their processing rates in conjunction with signing a lease for a new reader from Merimac Capital. I was never told it was a different company nor did I notice the small logo change in the top corner of the paperwork. The guy that walked me thru the eqipment lease, who I now know must've been a Merimac guy mislead me on what the details of the arangement were. At the end of the day, my understanding was that my merchant processor was reducing my rates in return for me agreeing to a monthly payment to pay for new equipment that I was led to believe came from them. It turns out my business failed about a year into our 4 year agreement. Out of the blue I get a call from someone at Merimac (first time Ive ever heard the name) telling me that I owe nearly $2000 for a piece of equipment that at the time retailed for about $350 and now retails for about $150. It was then I learned that Merimac is a leasing company. Id dealt with leasing companies before and most of them are crooked. I was offered a 'deal', continue with payments til the $2000 is paid, or...pay $1300 in 2 days. I was told the 'discount' amount offer would expire if i didnt pay it in 2 days. They wouldnt let me send the equipment back, or send them a brand new one. Shame on me for letting a guy mislead me, and for not reading the full page of tiny print, but bigger shame on them for being so shady.
Merimac Capital Reviews
When the chip card readers came out, my merchant processor said I needed a new card reader. My merchant processor gave me a discount on their processing rates in conjunction with signing a lease for a new reader from Merimac Capital. I was never told it was a different company nor did I notice the small logo change in the top corner of the paperwork. The guy that walked me thru the eqipment lease, who I now know must've been a Merimac guy mislead me on what the details of the arangement were. At the end of the day, my understanding was that my merchant processor was reducing my rates in return for me agreeing to a monthly payment to pay for new equipment that I was led to believe came from them. It turns out my business failed about a year into our 4 year agreement. Out of the blue I get a call from someone at Merimac (first time Ive ever heard the name) telling me that I owe nearly $2000 for a piece of equipment that at the time retailed for about $350 and now retails for about $150. It was then I learned that Merimac is a leasing company. Id dealt with leasing companies before and most of them are crooked. I was offered a 'deal', continue with payments til the $2000 is paid, or...pay $1300 in 2 days. I was told the 'discount' amount offer would expire if i didnt pay it in 2 days. They wouldnt let me send the equipment back, or send them a brand new one. Shame on me for letting a guy mislead me, and for not reading the full page of tiny print, but bigger shame on them for being so shady.