Here's the timeline:
In November, 2011, I started GlowStickJunkie, an eCommerce store.
In January, 2012, I went to cash some checks at Wells Fargo and open a separate business account in preparation for adding credit card services. The customer services rep said "Oh, who are you doing your CC services through?" and I said "Authorize.net." She said, "Oh! Well we can offer you a direct account for Authorize.net that goes directly through Wells Fargo." I said, "Okay tell me more."
An hour later, I had been led through all of the contract and had entered all of the needed information. I made the stupid mistake of not asking enough questions and assumed that she had told me everything I need to know about the contract. So I signed on the dotted line.
February, 2012: I got my first statement...For $139.98. Holy sh*t! I thought that I was going to be paying $39.99 a month, not this exorbitant price.
Yesterday: I sold GlowStickJunkie
Today: Since I didn't need credit card services anymore, I called Wells Fargo to cancel the service. Now I find out that the Wells Fargo rep had entered me into a 3 year contract and that I would have to pay a $500 fee. Holy sh*t #2! So my only options were pay $5k over the next 3 years, or take the hit and pay $500 now.
The moral of the story, is don't be an idiot like me and don't trust people you think are "nice." I pretty much just screwed myself out of a ticket to Europe for no reason and now I have to live with my $900 mistake.
Anyways, with that said, for anyone who has an Authorize.net/Pay Leap/any other CC service, who would you recommend and how much do you pay for it each month? What bank do you use and do you have to pay any stupid fees for Merchant Account Services like I had to pay?
In November, 2011, I started GlowStickJunkie, an eCommerce store.
In January, 2012, I went to cash some checks at Wells Fargo and open a separate business account in preparation for adding credit card services. The customer services rep said "Oh, who are you doing your CC services through?" and I said "Authorize.net." She said, "Oh! Well we can offer you a direct account for Authorize.net that goes directly through Wells Fargo." I said, "Okay tell me more."
An hour later, I had been led through all of the contract and had entered all of the needed information. I made the stupid mistake of not asking enough questions and assumed that she had told me everything I need to know about the contract. So I signed on the dotted line.
February, 2012: I got my first statement...For $139.98. Holy sh*t! I thought that I was going to be paying $39.99 a month, not this exorbitant price.
Yesterday: I sold GlowStickJunkie
Today: Since I didn't need credit card services anymore, I called Wells Fargo to cancel the service. Now I find out that the Wells Fargo rep had entered me into a 3 year contract and that I would have to pay a $500 fee. Holy sh*t #2! So my only options were pay $5k over the next 3 years, or take the hit and pay $500 now.
The moral of the story, is don't be an idiot like me and don't trust people you think are "nice." I pretty much just screwed myself out of a ticket to Europe for no reason and now I have to live with my $900 mistake.
Anyways, with that said, for anyone who has an Authorize.net/Pay Leap/any other CC service, who would you recommend and how much do you pay for it each month? What bank do you use and do you have to pay any stupid fees for Merchant Account Services like I had to pay?
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