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Phillip Parker

Phillip Parker is a former merchant services agent turned small business advocate and the author of "Fee Sweep," which teaches merchants how to dramatically lower their processing rates, eliminate junk fees, and avoid fine-print scams. He founded CardPaymentOptions.com to help merchants enact positive change in the credit card processing industry.


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  1. Brad

    Wells Fargo Merchants Services is a ripoff and a fraud!

    Just like everybody else on this board, Wells Fargo lied and decieved me into believing there would be no fees other the the Discount Fee and Card Swipe Fee. There first offer was like 5% on transactions + the card swipe fee of $0.25. I said this was ridicoulous and said I will pass on that, as I own a small construction business, and 5% of the total bill really cuts my profit margin in half. While still in the bank finishing the paperwork on a business checking account, the Wells Fargo Merchant Services rep called the personal banker back, and said she had a new offer for me if I wanted to do the card swipe. Just like many of the people below in this comment section, they offered the 2.2% rate, no fees, no contract, and $50 credit towards the credit card processing machine. The first 3 months went by with Wells Fargo sticking to the agreement. I only ran 3 cards, with the transactions totaling about $3,000. I first noticed a couple extra fees, like Bank Interchange Fee, however they were relatively small in amount of about $10.00, and I figured what’s 10 dollars to be able to take cards.

    After the first 3 months, I went 2 months without running a card through the machine, no fees. Then I get a $3,800 job in January, paid for with a credit card, same brand and bank as the others. Having used the card before, I think nothing of the $10.00 interchange fee applied in February with the agreed upon fees. Then comes March, no credit card transactions, yet here pops up a $5.00 interchange fee. I think nothing of it, as it wouldn’t be worth $5.00 of my time to go to the bank to argue the fee, as we all know banks are only open when your at work as well, in addition to thinking I swiped the final payment after the January cutoff. Then comes April, and another $64.17 bank interchange fee, with no credit card swipes in February, March, or April. This high fee warranted a visit to the bank where I signed up for the merchant services. To my suprise, nobody in the branch, not even the manager can handle my complaint. I’m referred to a telephone rep., and no suprise, the rep isn’t in the office. 3 days pass, still no word. Finally I take to the internet and post a similar post on another website, and another, and another. Boy was I suprised when they called me back the next day.

    Upon a unsucessful interaction with the phone rep and manager, I was told the Bank Interchange Fee is set by the credit card companies and then passed on to me. Not only was I not told this when signing up, I also recieved a letter stating changes to my services. Just like many others on here, I also found out I was in a 3 year contract, subject to changes, and could not cancel the service. Had I been happy with the services and explanation, I probably would have left it at that and never used the thing again, take my money out of Wells Fargo, and close the account in 3 years. However, I wasn’t happy, and did further research on these interchange fees. I went to MasterCard and Visa websites to research this, since this is who I was told made the rules, and to my suprise MasterCard and Visa prohibit “acquirers’ or banks from charging interchange fees to merchants, as these fees are suppose to be included into the MDR or Monthly Discount Rate. When reading MasterCard and Visa’s policy word for word to Wells Fargo Merchant Services, there response is “everybody does it” and “that’s not true”.

    Long story short, Wells Fargo will not do anything to help you, will try to destroy your credit. My only comparison to services like this would be the mobsters in old gangster movies extorting people for more money. At least with the mob, you’d get to talk to somebody face to face. All in all, I would not bank with Wells Fargo if your looking for a bank, and definitely don’t use there merchant services. My hope from posting this comment on this board, is others will take action and notify MasterCard, Visa, Discover, and the rest of the credit card companies that Wells Fargo Merchant Services is misrepresenting their card services. If enough people complain, and MasterCard or one of the others gets enough bad press, they’ll cancel Wells Fargo as a acquirer for there services, which would really financially damage Wells Fargo Merchant Services enough to start dealing with their customers fairly and honestly. With the 41 comments before mine, there are tens of thousands of dollars Wells Fargo Merchant Services has fraudentely made off of small business merchants.

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    6 / 7 found this review helpful.
    1. Eric

      Brad,

      What you experienced is known as Enhanced Billback. They quote you the 2.2% for ALL transactions which they charge for that months billing cycle. Then the following month they review the previous month and add the excess charges that weren’t covered by the 2.2% and tack those fees on to the following month. The “Interchange” rate is the true wholesale cost to accept cards and the rates vary based on the card category. It’s difficult explaining this and it’s unfortunate that you had to experience this. You should lodge a formal complaint with the branch manager at the bank and renegotiate the terms of your contract. Tell them you want the Interchange Plus pricing model (make sure the surcharge isn’t above 0.50%), monthly discount, no Billbacks at all and for them to waive the early termination fee if they don’t honor your requests. Most of the time they’ll make the changes.

      -Eric

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  2. Stacee

    This is a follow to my initial post back in March. I got the run around and some bullying from WF in the first month post contact signing, when I started asking questions about the contacts I signed. I truly believe that the only thing I had going for myself is that I never used the terminal, not even once. For a recap, I signed those slave contracts in Jan after being deceived by our personal banker at Wells and the WFMS Rep. Jennifer Baxter and when I got a mysterious draft of $141.04 out of my business checking account for a “bank card fee”, and having not used the terminal (it was still in the box) and when I looked online for what that term meant (as I couldn’t get a straight answer from the Merchant Sevices rep) I learned that the fee was associated with a credit card transaction! So I called the WFMS Rep back and said, “look I haven’t even graduated or started my business yet and they are taking money that I hadn’t even made a yet!”It was only then that I learned about not one, but THREE “non-cancellable” contracts with three different (WF, WFMS, and First Data) companies I was now dealing with! When I asked the branch manager about this, her only response “well, you signed a contract”. Well, I did some digging online and guess what I found, “failure to disclose important information on a business contract IS A FORM OF FRAUD. So the first I did was close my account. Unfortunately, we also had our person accounts with WF as well, this was sadly a big fight with my husband as we had to close all the accounts. Then I contacted the BBB and filed a formal complaint against WF, WFSM and First Data Global Leasing. These three companies for failure to disclose important information to me regarding the contacts were in collusion to rip my new business off before it even started! So finally I stopped getting the run around and WFMS Corporate agreed to waive the early termination fee, but said I was on my own with getting out of the contract with First Data, even though they opened the lease on my behalf without my knowledge!! I said bullsh*t! So I told the BBB, absolutely not and I would only accept WFMS cancelling their fraudulent contracts (and the ones they opened on my behalf without my knowledge) waive the termination fee, AND buy back the lease from First Data and refund the $141.04 they took for a bogus “bank card” on a terminal that was sitting in the box it came and was never used. you know in hindsight, I remember once I got the terminal, I was bombarded with calls from First Data abd WFMS “why are you using the terminal? Is there something wrong? Which I thought was weird. I was like what’s the hurry, but that’s the hook, had I used that damn thing, I think I would had a tougher time getting any out of this situation and finding any recourse. WFMS finally, reluctantly agreed to buy back the lease from First Data as soon as I returned the terminal back into their possession. Which I promptly did with signature required upon receipt. Btw, I also filed a complaint with the FTC which prompted communication from the First Data Legal dept. :) I apparently got their attention..I felt vindicated, but I didn’t get my $141.04 back, but that’s fine, I will never do business WF again, EVER. So it was a $141.04 lesson. Bottom line, you don’t have to a victim of these unscrupulous, predatory companies. I sincerely hope my story helps someone avoid this situation because I have seen that it doesn’t always workout for people :(.

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    3 / 3 found this review helpful.
  3. Philip S

    Wells Fargo Merchant Services is one of the very worst merchant services providers available to merchants.

    1. Beware of the terms within the contract, as you could be subject to a MINIMUM $500.00 fee for any termination of the agreement within the 3 year contract term. Yes…a 3 year minimum contract term.

    2. Further, Wells Fargo Merchant Services reserves the right to INCREASE YOUR FEES at any time within the contract period. EXPECT THIS TO OCCUR WITHIN THE FIRST 6 MONTHS OF THE CONTRACT PERIOD!

    3. POOR BUSINESS ETHICS: Be careful of early merchant services termination and concurrent bank account termination, as there may be fees to be paid from a period of more than 45 days past your bank account termination date. In which case, their merchant services unit will NOT notify you of any outstanding balance and will immediately transfer your account to their collections unit incurring a minimum of $100.00 collections fee in addition to the outstanding balance due. The only way to regard this practice is extortion.

    There are many banks/merchant services providers that you will find providing seamless and cost effective merchant services, with a much higher standard of business ethics than Wells Fargo Merchant Services.

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    2 / 2 found this review helpful.
  4. Aiman abujudeh

    I owne a used car lot and my contract with Wells Fargo was the funds will be in my account the next day that never happen security is allways taken the money even though none of my transaction was fruidulant I think there service is garbage. I called on Monday sep/30 to check on a 6000 fund and I was send to lakisha voice mail she was off until Tuesday and all the customers have to wait until lakisha come back on Tuesday from the beach or where ever she went . Also Wells Fargo merchant services called me from 714 5515501# to check on my call to merchant services and wen there heared my complain they hanged up and didn’t take the serva

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    2 / 2 found this review helpful.
  5. Cafe Owner

    When we had a need for credit card machine Wells Fargo agents didn’t stop blowing up our phones but when we wanted to cancel the service within 30 days with no penalty nobody want to take our calls. Wells Fargo goes through a 3rd party for the actual machine which was not made clear when placing the order. We returned the machine and were still getting charged for it and the monthly fees would be totally random amount. When we called the 3rd party company they said they sometimes charge for multiple months. Clearly this was because we were canceling our account so they started withdrawing whatever amount they wanted. We were told all the money will be returned in 60 days. After 60 days had passed we were still getting charged and Wells Fargo would tell us we need to contact the 3rd party and the 3rd party would say Wells Fargo needs to initiate the termination. This was months after we initiated the termination and nobody would tell us if our account is still active or not this led us to terminated. Only way to stop these thieves was to cancel our business account with Wells Fargo and believe me Wells Fargo will never get my business again. Till today we don’t know what is the status of the merchant services. Stay away !

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    2 / 2 found this review helpful.
  6. Jeff

    We were hustled into dropping another merchant card provider we had for 6 years by a agent from Wells Fargo. What a bad decision. Wells Fargo started us at a rate with fees of about 2.5% under a contract that couldn’t be cancelled for 3 years. After 3 years, unknown to us, the rate went to 3.8% the highest in the industry. They told us they informed us by mail of the rate increase but we never got the word until statements starting arriving. It took us10 months to get an explanation. We dropped WF and were advised we would also have to pay the $500 cancellation fee. We went with BofA that has about a 2.5% overall rate and no contract commitment.
    We are filing legal action against WF for overcharging and the cancellation fee.
    Stay away from this bank and any services they try to hustle.

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    3 / 3 found this review helpful.
    1. Kris

      One loophole around the contract is if Wells Fargo raises your rates you have 2-3 weeks from the notice where you cancel your contract with no early termination fee. The reason being that they are breaking the intial contract with you so at that point you can leave. It’s highlighted in their program guide in the section that mentions the contract terms. When they send you the letter stating your new rates it does state that you can cacel within a certain time period.

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      2 / 2 found this review helpful.
  7. Rachit

    I do bank with wells fargo and I switch to wells fargo merchant account service not long ago. All I need to say is never sign anything with them. They will rip you off. Whatever they say to help you safe that’s true. but they keep adding so many fees to your account. And what I regret the most is when I signed with them they said everything is done, once I got cancelation fee from the previous credit card company they will refund it to me. Boom! they’ve gone with no follow up. I totally lose almost $400 out of my pocket. Just switch to wells fargo if you want to know how easy your money can go out of your pocket.

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    3 / 3 found this review helpful.
  8. Sohail Chaudhry

    Like everyone else on this review, i have to agree. These guys are a huge scam. I have been a customer since 1995. I left them and they charged me the $500 fee. Did not disclose the fees to us at the time of the contract. 19 page contract does not mention the $500 – simply says “See Section 39.3 of the Program Guide for early termination fees”. BTW, you dont get this program guide until after you sign up and get it in the mail. i am still not sure if i got it or not.

    The reason i left them is even more serious besides the extremely high fees:. ChargeBacks. We had a fraudulent tranaction on one of our sites. It looked suspicious. So we issued a refund right away to the card as we called the number provided and it was not a real number. 4 months down the road, the card holder filed a complaint and wellsfargo merchant serivces deducted 4460 dollars from our bank account – without sending us a notification or looking at the fact the original transaction was refunded. Now they say that they cannot do anything about it. So we are out of pocket for $460. the lady on the phone said may be i should call the card holder to see if he will pay me back. Unbelievable. This should be a class action lawsuit.

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    2 / 2 found this review helpful.
  9. John Kabashinski

    Warning – Stay Away From Wells Fargo Merchant Services!

    I am sorely disappointed that Wells Fargo Merchant Services, as part of one of the largest financial instituions in the United States, appears to have a regular business practice of widespread deception of their ETF (early termination fees) which is only discovered when cancelling a merchant account. When discussing this account with the sales person on setup, there was no mention of this (ETF) or even the term itself. Apparently this is not just an isolated incident based on the amount of complaints of a similar nature. The customer service agent, David, let me know that the only way these ETF’s are ever rescinded are through bankruptcy, natural disaster or if a business is sold and the new owner picks up the account.

    Much like the now bankrupt Blockbuster video, Wells Fargo seems to have a business model based on punishment of the customer rather than real service or value. While I am sure they have a team of lawyers who will defend the small print deception they regularly undertake, in principal and practice this non-disclosure and deception of their EFT fees is a big red flag to all who read this considering a merchant account and to all who might invest in Wells Fargo stock.

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    1 / 1 found this review helpful.
  10. Pam

    So, I didn’t get the 50 page Program Guide I see people talking about here. I also did not receive a copy of a lease with First Data, I thought they were just a division of Wells Fargo that did their equipment handling. Reviewing my documents I see where I signed some pages acknowledging some fees and in relatively small print a statement that my signature on this page also constituted my signature for the First Data lease agreement. My rep told me it was a 24 month lease and I did not check the filled in blanks on the documents I did sign, which detailed a 48 month lease. Lot’s of question here about Wells Fargo business practices, I am surprised to see no legal action being taken by individuals, groups, or consumer protection agencies. Small business owners are know as the back bone of the American Economy because everyone is standing ON our backs!

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    1 / 1 found this review helpful.
    1. Tami Davies-Coleman

      This is not just Wells Fargo. the PNC Merchant Services Rep did the EXACT SAME THING to us. We are trying to fight it, but they are saying this contract I “signed” is non-cancellable. Does anyone know if this is accurate? We want to fight this, but I had to personally guarantee the account, since we haven’t been in business 2 years yet.

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      1 / 1 found this review helpful.
  11. chris lee

    My father in law owns a Japanese restaurant, and he has been using independent credit card company who has been charging him about average of 2.65% rate overall. After changing to wells fargo on oct 12, wells fargo has been charging him 3.75% + 40 dollar machine fee, which is costing him an additional 500 dollars a month. The rep has told him that they will lower the fee than what he is paying but the rep isn’t there any longer and no where to be found. now is stuck with an additional 500 a month. since nov 12, the manager said that they will resolve and lower the rate but now we are on march and no one seems to care about the rate and no one is doing anything but he is getting charged.

    I see so many people are being fraud by the same question and i want to find out if anyone is filing class action law suit. this is totally outrageous as i asked him to get wells fargo….

    they are the worst banking of all

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    2 / 2 found this review helpful.
  12. Stacee

    I was also scammed by Wells Fargo. My husband and I sat down with a personal banker for 2 1/2 hrs she new I was a brand new business, and I not even out of college and they steered me toward merchant services. There was no mention of leases or penalty fees or anything a month and a half later 141.04 was drafted out of my account and that when everything came to light. I have since closed my accounts but I still have a join checking my husband. I have never used the service and the terminal is in the box, I am still waiting to find out where to return the terminal. Any advice? I have also filed a complaint with the BBB and I am asking for the leases to be cancelled, the termination fees waived and the 141.04 set up fee returned. I will NEVER to any business with Wells Fargo Again!

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    1 / 2 found this review helpful.
  13. Hong H.

    As a new nail salon owner, I failed to properly do my homework as outlined on this site before signing what I thought was a 2-yr contract with WFMS, via a local WF bank agent. So currently I’m paying 1.89% plus 15 cents per swipe, with a bit over 2 years to go on the contract. Also rented a FD-100 terminal from WF Global for $30 a month, 48 month contract, which amounts to almost 4X what I could buy the same terminal for on Amazon.com, and I don’t even own the terminal at the end of the contract. Anyway, I got a letter from WFMS stating that as of April 1, they want to charge me 2.196% plus 20 cents per swipe. When I called their customer service rep, they very quickly decided to waive the fee increases as I was a “valued customer’, but obviously they don’t want to invalidate their pricey contract with me. Since the letter states that use of their services after April 1 constitutes agreement with the higher prices, I’m guessing that WFMS is hoping I ignore or forget about their letter or that I haven’t wised up enough to compare their prices with other processing service providers. Or that being Vietnamese-American, my language skills are such that I don’t understand the contract or letter.

    This is not any way for a large company like WFMS to conduct their business – taking advantage of small business owners. We already have enough problems in today’s economy and tax climate – predatory behaviour like that of WFMS is not in our interest or even in WFMS’s interest, as they could lose some customers who give up or are forced out of business due to all the fees and taxes & regulatory increases. However I suspect WFMS is run by managers only interested in bonuses and quarterly profits rather than long-term strategic volume increases.

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    1 / 1 found this review helpful.
  14. louis hubaud

    i signed up for wells fargo merchant services, completed my service contract and cancelled my account . i then learned i had a 48 month contract with first data.the contract was non cancellable so i had to pay for 24 months for the first data equipment that i returned . my wells fargo representative never advised mye of the 48 month contract .i signed all required forms as advised by representative. i felt i had a contract with wells . only later did i learn that i had a contract with first data .my representative never advised me of the 48 month obligation. i contacted wells merchant services and they supported first data .so i am out over five hundred dollars .i trusted my banker.but never again i am disgusted with wells sales tactics.all you of signing up wells beware

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    1 / 1 found this review helpful.
    1. Julie Opp

      Write to BBB, you will get a response. I just got my fees waived after reporting them all (First Data, Wells Fargo Corporation and the branch it was done at) to the BBB and US Treasury department.

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      1 / 1 found this review helpful.
  15. Julie Opp

    I own a vacation home in NV that I rent out. I use VRBO.com and Homeaway.com for all transactions and paypal if needed. When I opened the business account the banker offered merchant services, I told him my business was only online, some guy from merchant services called me, offered me a good rate and monthly fee. I told them I had no idea how I could use it online that I didnt even really use my website that I used Homeaway.com and VRBO.com. They said they would be able to help me get it online. So the banker signed me up, I asked him if there was anything in the contract I should know since there was so much legal mumbo jumbo that I did not understand and he said no. Well I could not get their services on my website nor did I know how. I went into the bank the same week a couple of times tellng them I did not know what to do with it and it was useless to me and to cancel the account. They said they would call me and try to help me, someone called and started giving me instruction in what seemed like a different language, I told them I have no idea what you are talking about I’m not a web designer. They called again and I just said to cancel because there is nothing I could use them for. I own a home I rent out to my friends and students. I finally called after getting billed 35.00 for what i still dont know and I was told I was in a 3 year contract and it was 500.00 to get out. I was shocked. I called the banker and he claimed (Beau Roquemore) he doesnt know anything about that side of the business, but he is the one who initiated it and signed me up and said there was nothing that stood out on the contract that I should know. I told him in phone calls and going in that I did not need this service. I never used it or knew how to use it nor needed it. Now I am stuck with a 500.00 fee???? Because I trusted the banker?? This is a scam.

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  16. You're Fired!

    Unbelievable! I have been a loyal customer of Wells Fargo for 13 years. They have robbed me for the last time. WF is holding nearly $20,000 in credit cards sales they are supposed to process. WF has not made a deposit on these orders since November 21, 2012 due to a spike in fraudulent chargebacks generated by a vendor who enraged a finite number of customers. The chargebacks totaled about $5K. WF has now cause the checking account (which funds my day to day operations) to go negative. On top of that, they hit me with a $35 overdraft fee for every transaction that hits the account. This account is now growing negatively exponentially while WF holds an excessive amount of cash hostage. I’ve never felt so helpless!

    WF will not allow me to transfer my customers to a new processor (their competitor Chase Paymentech.) I have to pay Authorize.net $750 to extract the data which takes 4-8 weeks before I can manually input the customers information in digit-by-digit. In the meantime, all revenue is lost.

    I have called Alex at WF risk management for updates once a day for the last two weeks. He left me a voice mail yesterday with no details only, “call me back.” To which, Alex did not pick up his phone when I called him four minutes after his voice mail.

    Wells Fargo is a SCAM and a BULLY!!!

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  17. Victor

    i just recommend you to stay away from wells fargo merchant services, I opened an account with them
    about 6 months ago and already lost about $1000 and fees they charged me for no reason
    and when i call them for an explanation they simply say it is for an adjustment of the last month fee
    that was not charged to your account.
    they forced me to retired my money from wellsfargo bank……i was really mad and frustrated
    all i can say is keep away…………..0 stars for them……very bad company.

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  18. MRs DR

    I too also was scammed by wFMS, a rep named Adam Renner signed me for a higher rate then his collegue gave me another rate better 2 months later. But both reps never cancelled their deals they wrote so I’ve been double charged. When you call them the two little pricks never call back. This guy adam is a piece of work and so his his collegue. Dirty slimey scum. Needs to a law suit

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  19. Jessica

    I feel validated! Like everyone else on this site. I have experienced the duplicitous side of Wells Fargo. They were not forthcoming when I opened my merchant account. i assumed I was opening an account like any other, not signing a binding 3 year contract. The banker did not tell me I was signing a contract or go over terms of the contract. I have learned my lesson. Do not trust anyone to tell you upfront what you are signing up for. Only honest business people like myself would do something like that! Not Wells Fargo!

    I only learned that I had signed a contract some 18 months after the fact from someone who uses the same service at my office. They found out when they tried to cancel. Isn’t that a nice slap in the face?

    As for paperwork, we did not go over anything other than rates before I signed and I do not recall receiving a 52 page anything in the mail.

    I called and gave two reps an earful about their shabby business practices and they wouldn’t budge on the $500 fee. I think each client who has experienced this should write to the president of Wells Fargo before they close all associated accounts. I will probably close early and rip the band-aid off quickly rather than continue doing business with this bank. I have one year left of the “contract” plus another annual fee coming up, it will be a wash for me.

    I am surprised there is not a class-action lawsuit over this. Withholding and concealing important information from potential clients seems illegal to me and at least highly unethical.

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  20. Dustin

    I signed up with wells Fargo merchant services account about three or four months ago. I can honestly say i feel i have been deceived and given false information. The Representative that set up my account DID NOT go over all the fees with me just told me about the fees that i asked about. This was my first time getting a credit card machine so obviously i didnt know the correct answers. Now unfortunately in locked in to a multi year contract and can do nothing about it. Beware of there services and try anyone else before going with Wells Fargo for theses services.

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  21. William

    I opened a Coffee Cart business that was located within a building, I needed a way to process credit cards and I was new to opening a business. I did not do any research prior to searching for credit processing services and went straight to Wells Fargo. I sat down with a Business Banker Specialist to open an account; He opened three Business, Merchant and Spending “yes” overwhelming! He then set up an appointment with a Merchant Account Rep. I Met with both of them the following day, I must say that they were very customer oriented and seemed to be all about doing the best for me. The Wells Fargo contract came out and as I was trying to review the application, the Merchant Rep. kept summarizing the contract for me and telling me to sign here and initial there. I felt comfortable and trusting at the time. “Big Mistake on my part” I found out later that I was getting a hard line card processing machine that required a phone line, I made it work but I was not happy about it. My business did not take off as expected and I had to close doors within the first 5 months. So, now financially in the hole I went to close the business accounts and was advised that they are charging me an early termination fee of $500 dollars for the WFMS processing. Here is the kicker; I also have a contract with a third party that provides the machine to process the payment. The company First Data wants me to pay $40.00 month for the lease for the next 4 years. WOW! The Business Banker Specialist and Merchant Rep. were no help to me, their customer service appearance went right out the door and they were worthless. I was advised to call an 800 customer service line. I would place my experience with Wells Fargo in the same category as buying a used car, driving off the lot and having the motor blow-up. Then when you take the car back they tell you to bad so sad. I suggest that you do your research first, and then whatever you do “AVOID WELLS FARGO”! Thanks for reading and good luck!

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    1. Anna

      My husband had the exact same experience. He is a new attorney working independently literally went through what you explained step by step. The representative at Wells Fargo didn’t go through any of the details of the contract and never explained that this was a 4 year lease. We thought we were just trying the service out. We even talked about how we could see if it was necessary in the type of business he does and cancel if it wasn’t. The rep said nothing. We feel so scammed every month when we see over $100 each month in service charges for about $500 a month in credit card transactions. So disappointing.

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    2. jennifer

      I am going through almost the identical situation. I to did not do any research shame on me and went directly to wells fargo where I have been banking at for over 20 years. I was rushed through what I thought was an application process. I received the hard line like you and thought I would be getting wireless. I called the merchant sales person and he directed me to a 1800#. the 1800 sent me back to the rep since it was a new account. He then informed me it cost 15 more dollars for the wireless. I emailed him saying thanks but no thanks. He responded back with jen what changed since we spoke? THanks. I responded back with the fees are to high. I never heard from him again. I shipped back the unit earlier in the week that I never even activated. Then I saw a fee out of my account for 42.95. I emailed him and asked to have it reversed. he gave me a 1800# and once approved he no longer has access to the file. I called what I then learned to be first data and they informed me that I had a 4 year lease and a 3 year contract!!! I was shocked. I was never in anyway under the impression that I was in a contract or a lease. Those words never even came out of his mouth. just the 40 a month and a swipe fee. The women at first data got him on the phone with us and i asked him if he really thought that I left the bank knowing that I was under contract. He talked around the question. I didnt even leave with any paperwork or a copy of the said contract. So to date they waived the early term fee but are not willing to let me out of the lease. I am waiting a phone call from first datas management to talk to them and the guy form wells. I have also emailed the manager at the bank. I was definitely taken advantage of. I am a personal trainer and went to what I thought was a trusted source to guide me in the right direction. Boy was I wrong. lesson learned. I do not plan on backing down. very frustrating. I plan to move my account as quickly as I can out of wells.

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  22. John Reilley

    As everyone else has said, there is a $500 3 year contract they didn’t mention during the setup. Stay away.

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  23. Vista Morris

    We switched from Wells Fargo Merchant to Chase Paymentech at one of our restaurants after 2 years with Wells. Chase is MUCH better. Lower fees and no random fee changes.

    Wells Fargo is TERRIBLE. I used them because we use Wells Fargo bank. While we like the bank, merchant is terrible. We had interchange plus pricing with a 14/cents fee. After 5 months (on a 3 year contract) we noticed they doubled our rate to 28/cents. We called to complain and they said “we sent you a letter”.

    For our second restaurant, we stayed with Wells due to a 3 year contract. We just found out that they changed our interchange plus pricing on debit card to a “bundled rate” of 1.1% + 30 cents vs .05% + 21% interchange pricing!! This was $300+ extra a month savings we lost.

    We have now moved all locations to Chase. I recommend avoiding Wells Fargo.

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  24. John Marshall

    Beware – some of the highest rates of all. I have been processing with them for over 2 years and finally woke up to the fact that the rates charged are horrible. My total charges from Wells Fargo were averaging over 4%. I have switched and they charged me a $500 early termination fee. The small print of the contract specifies a 3 year contract – READ THE SMALL PRINT! I purchased the equipment originally and was charged $559 – this is much more than most of the processors I have researched charge. JUST BECAUSE YOU BANK WITH THEM IS NO REASON TO PROCESS WITH THEM – PLEASE DO YOURSELF A FAVOR AND SELECT SOMEONE ELSE.

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  25. Rick

    I went to cancel my Merchant Services account with Wells Fargo today because our business never took off and after 18 months of paying $60/month and never once swiping or charging a card seemed silly to keep paying. We’d paid $1200 and done zero interactions with Wells Merchant Services.

    When I called they gave me the nonsense about a $500 termination fee because our “contract” is for 36 months. This was news to me – whilst on hold I contacted my partner who said it was news to him as well. I pulled up the 9 page application/contract and — nothing. No fee. There’s a very extensive fee listing on page 4; you’d think this would be comprehensive.

    When I mentioned this — the customer “service” agent had also pulled the contract and not found it — she claimed that no, a 52-page “program guide” should have been given to us at the time of signing by the agent and that it was detailed somewhere in there. And that the contract means we agree to everything in the guide, too. I explained that not only had I never seen said guide but it wasn’t ever discussed with the agent. She didn’t care. I asked why if it was considered part of the executed contract was it not included in the contract that I signed as an addendum or exhibit. She said “It’s FIFTY TWO PAGES, SIR!” as if such a long document was ridiculous to expect in a contract. I asked if she felt that was deceptive business practice, then, to expect that someone would read such an arduously long document that wasn’t even affixed to the contract you asked us to sign.

    Wells wouldn’t budge and while she canceled my account she insisted they’d charge my account the $500 fee. Which is funny since they already took all the money from that account and it doesn’t have even close to $500 left. Unfortunately.

    In short, they’re trying to steal another $500 from me after taking $1200 and my never using their service and to justify it claim a non-existent 52-page “program guide” that wasn’t signed nor attached to the contract that I did sign.

    I think this is illegal business practice.

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    1. Candida Turner

      Dear Rick, I too am having difficulties with this service. I was told that if & when I closed my business I got the “new owner” to go through Wells Fargo they would not charge me, so I did just that, they are now saying I will still owe them $250.00 and they have denied service to the person applying which whom they needed his info in the first place for me to get service. They said my credit was not good enough so I had to have another person (my husband) sign for me, now he is the one they are refusing service to. Yes I agree with you, they are just ripping people off and getting by with it. POed, C.T. of C.A.I.&R

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    2. Singh

      I have to the same problem with PNC bank. I am seeking legal action regarding this matter. I am not sure how far it will go but at least I try.

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  26. MAfe

    They are thieves! STAY away. Not only I was charged with an early termination fee but also a fee for the non-cancellable lease agreement, total fees 1800$

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  27. Rui

    Stay away from Wells Fargo Merchant.
    i swiped a card on Feb 6th, 2012. it shows transaction failed but the customer actually got a text message from his bank saying the amount has been taken out from his account. so i called the customer service, the rep told me it went through and just wait 24 hrs to get the money into my account. but no money! so i called again and again… all they said was to wait another 24 hours and another.

    until on the 10th, they told me to wait 3 days since they handed to the research department. and finally on the 13th, which is a week from i swiped the card, they told me the transaction didn’t go through. so i asked them the reason. and they said they couldn’t see it neither!!! all they said was trying to get away. such as i didn’t have a valid receipt with customer’s signature… i mean that’s why i called the customer service right after and the rep said it went through!!!

    and me and my banker called several times and every rep said a different story about this transaction. they even said i had a second attempt which went through 20 mins after the first one failed and asked me for that receipt. which was bull shit i didn’t have a second attempt and the customer didn’t even stayed for 20 mins long!!!! how can i have a receipt for that?????

    up to date… they called and said a total different thing again. they said on their system, i didn’t call on the 6th which the card was first swiped… i called the 7th…

    duh!!!!!!!!!!!!!!!! stay away from them!!!!! they are crap!!!

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  28. Veronica

    Stay away from Wells Fargo merchant services. The representatives are not honest, they do not disclose all the information such as the terms and conditions. I was not aware of the early cancellation fee nor was it included in the contract that was signed. They have the worst customer service and I would rate them -11!

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  29. Tam Lai

    I was told by Wells Fargo’s rep, Ryan, that there would be a fix charge every month, yet, my monthly charge had always been higher and it always fluctuates. I later found out that my account is still at a testing mode at its gateway affiliate all this time that they’ve been charging my account. Now, I want to close my account with WF and found out that there’s a $500 charge for early termination.

    This came as a shock to me because I was never told about the 3 yrs. contract. All the WF rep did was e-mailed me 3 pages Merchant Application Checklist, Acknowledgement and Signature. Nothing in these 3 pages mention about the 3 yrs. contract or the $500 termination fee.

    WF is a total fraud. Never trust this bank. Never will I do any kind of business with WFMS. I will also tell my friends and family to stay the hell far far away from this bank.

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  30. Kyle Williams

    Stay away from Wells Fargo Merchant Services. First of all, other than sharing a logo with wells, they are not Wells Fargo but an independant, seperate company.

    We got the ol run around from our sales rep. First of all, when we realized that it was a ripoff, we decided to at the very least make some changes. We wanted to go to just an online gateway and elimiate the first data terminal. They refuse to allow us to this, and want us to pay the 36 month lease off. (agents i spoke to claimed it was 48 btw).

    Then we realized that we were MISSING pages from the contract, which happen to be the pages that spoke about cancellation fees, ironic huh?

    This is flat out deception, I don’t care what the company claims, their agent LIED!! He said we could do a month to month, and cancel at any time. Not true!

    Basically, what it comes down to at this point is we are closing the bank account they are tied to, and we will take them to court over this if necessary. Considering their record, and the fact that i will request that our agent ERIC be there for court, they don’t stand a chance. Even our banker said he will not even speak to Eric at this point because he has screwed over so many of the people referred to him.

    Bottom line is, they will lie to you to get a sale. Their fees are higher than any other merchant account out there, even PAYPAL, despite claims that they are LOW fees, it has never happened. Then they try to lock you into unfair terms, and will not even lift a finger to help you out.

    Stay away from Wells Fargo Merchant Services LLC at all costs, unless you enjoy paying high fees and horrible customer service and unheard of super expensive cancellation fees. Its bordering on criminal.

    We are also filing a report to the BBB.

    Wells Fargo Merchant Services LLC – if you read this, we gave you a fair chance to work with us, and if we at the very least cost you some customers, then its worth it.

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  31. Richard Lahr

    Best advice… before you cancel.. close the account that is affiliated with it… they will then have not way to get they $500…..I’m ready to change banks due to other
    reason… mainly they are way too big… what happened to our government even letting them merge with Wachovia after all the bank bailouts. ?????????????

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  32. Colin

    Wish I had seen this before I signed their contract. I am 15 months into my 3 year contract with Wells Fargo, and want to get out. I started my business and personal accounts with Wachovia years ago, which was then bought by Wells Fargo. Due to a couple of really nasty customer service encounters with WF, I decided to move my accounts to a local bank. I didn’t want to deal with two banks, so I signed up for the local bank’s CC processing.

    When I called to cancel the Wells Fargo account I learned of the $500 blackmail and three year term.

    I know a lot of you will say “read the contract”, which I did. The contract is 9 pages long, but at the end of this document is an acknowledgement that I had received and read the 50 page “Program Guide”.

    Yes, I should have read that too.

    But, it is clear that by deceptively naming this addendum to the contract “Program Guide” the company is intentionally misleading you to think that this is perhaps a manual for conducting business with this merchant account, NOT that it might contain very important contract information. IF it is that important (and it is) why wasn’t it included on the 9 page contract? Only one reason – DECEPTION. They know that most people will not read the 50 page “guide (at least not until after signing).

    For the record, the salesperson at Wachovia did not mention term of contract or early termination fee.

    I feel that Wells Fargo and Wachovia acted in unison to intentionally deceive me into signing this contract. I never would have agreed to 3 years and $500 ET. Nor would most people…this is why they bury this clause.

    Ever signed a two year agreement with Verizon Wireless? They are COMPLETELY transparent about early termination. They even play you a recording telling you of the early termination fee, and then record you saying that you agree. At least they are completely up front about their policies.

    Run from Wells Fargo.

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  33. Taylor Ulrich

    As the others have stated this is the same problem I ran into. No notice of cancellation fee, they don’t prorate and they all have a screw you attitude. I too have been with Wells Fargo many years and have 5 accounts with them and I’ve never felt bad about the company until using their merchant service. The woman I spoke with, Daniel (beware), was a completely rude woman and should not be in any type of customer service position. She tried to let me know they are like a cellphone company and I “couldn’t just terminate without fees incurred.” Well… big problem here is I OWN A CELL PHONE STORE and she was comparing to something she KNOWS NOTHING ABOUT. I tried to explain to her how a cellular phone company works and she cut me off and didn’t want me to tell her because she knew she had dug herself into a hole at that point. Then she just passed me along like a piece of garbage. I will not stand for this and am going to take action… including taking my accounts to a bank that doesn’t do business with such a poor company. STAY AWAY FROM WELLS FARGO MERCHANT SERVICE. Hopefully this message saves someone a lot of time and money. I only wish I read through these before falling victim to a horrible company.

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  34. ceemey trujillo

    After some research i see I’m only one of many upset with wells farfo merchant services. I have banked with Wells for over 18 years and never been treated so poorly as I have with the merchant services division. My account was set up by an account representative and my business owner. After leaving that company I called to transfer my account to my new business. After quoting the rates i decided to check into different merchant service companies. Of course I found many to be much cheaper so i decided to use a different company. I called Wells to close my account and they did. Two weeks later they took $500 out of my account without any notice what so ever. They said I broke my contranct. It would have been nice of them to tell me I was already locked into a contract, when i inquired about transferring my service. They have been extremely difficult to deal with. I feel they are out to get people and cheat out of their money. The representatves are unfriendly and mean. Its too bad, because I’ve been so happy with Wells Fargo for 18 years,but now I will leave their institution, along with my numerous accounts!

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  35. richard lahr

    Well I see I am not the only one. Caution to those who cancel there account within 60 days.
    I did this due to the expense for my low volume business, I switched to Paypal. The contract says you can close with no penalty. Well they went and took $500 out of my account as a penalty.
    Trying to get it back is a chore so you best have some time and patience. Point of fact, they had no right to take it out to start with. It’s been a week, I am stillwaiting to see the money back in my account. I give it 3 more days and my wife and I change banks and take out 5 accounts with us !

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  36. Chelsea

    I tried using Wells Fargo merchant services for my business and it was nothing but trouble. I ran three transactions that were larger than my set “maximum” transaction amount. My representative told me that it would not ever be a problem. Well, it was a huge problem.

    All of the money was taken from my account after handing out the equipment, I was still charged processing fees, my account was cancelled, I was placed on a merchant black-list for fraud, and it has taken nearly one month to get any sort of communication back from them. Plus, I was charged a way higher lease fee for the equipment and the managers refuse to discuss it with me (very strange).

    I was never given the chance to provide receipts and proof of the validity of my transactions, though their securities person covered his own butt by notating that he asked me for receipts twice. It was just not true at all.

    I thought that Wells Fargo would have been the best choice for us since their fees are low, they tout about their “killer” customer service, and I have banked with them for the past seven years. I am closing all of my accounts once this issue is resolved, because I do not trust them at all with my business. They only care about their own bottom line. My advice is that you would be better off with a smaller business provider who cares about your business, as well. Plus, be sure to get everything in writing before you believe any of it.

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