There are currently over 150 Summit Merchant Solutions complaints online, many of which describe the company as a scam or a ripoff. Of these complaints, there are two common types:
The first type of complaint is from former agents who report that they were hired under false pretenses and empty promises. These agents claimed that Summit promised them qualified leads and preset appointments; however, they claim that the majority of merchants never expected their arrival or had actually declined the appointment. These former agents complain of wasting their own time and resources chasing undesired appointments with merchants. Apparently, the appointments are set by the company’s telemarketers and the leads are bought from Experian. Several agent reports also complain of poor training regarding the contract terms and pricing of the merchant account agreement, and were instead trained primarily on how to sell merchant accounts and equipment for the highest commissions.
In one complaint, a person who claimed to be a former recruiter reported that Summit Merchant Solutions is basically a “hiring mill” of independently contracted sales agents. He wrote that his department of 30 recruiters had to hire 350 agents per week, most of whom would quit within the first three months. Our research has found that companies that engage in this type of hiring practice often have numerous negative reviews.
Of the merchant complaints, the primary type of report is of surprise fees and higher processing rates than what were quoted during the merchant account activation. There are also several complaints regarding nondisclosure of Summit’s 36-month contract with a $495 cancellation fee during the opening of the account. A few merchants even complained of being locked into 60-month equipment leases on top of the 36-month merchant account commitment. Many of the merchant complaints name specific sales agents, which appears to be an important factor in a merchant’s future satisfaction with Summit.
There does not appear to be a dedicated Summit Merchant Solutions phone number for customer support on the company’s website, indicating that its customer support is likely outsourced.
