Golden Eagle Leasing Overview
An Alternate Name of Northern Leasing Systems
Golden Eagle Leasing is one of several business names used by the equipment lease provider Northern Leasing Systems, others of which include MBF Leasing, Lease Finance Group, and Lease Source-LSI, LLC. Golden Eagle Leasing was originally a subsidiary of Hypercom, but was sold for $30 million to Northern Leasing Systems in 2003. The company has since been wholly absorbed into the Northern Leasing brand, but it appears that some leases continue to be sold under the Golden Eagle name. Northern Leasing does not seem to maintain an independent website for Golden Eagle Leasing at this time.
A Tricky Equipment Leasing Company
Golden Eagle Leasing is not a merchant account provider; rather, it leases credit card processing equipment like terminals, printers, barcode scanners, and other point-of-sale technology. As with Northern Leasing and Lease Finance Group, Golden Eagle’s equipment leases are often packaged with the merchant accounts of payment processors, meaning that the company’s customers are usually unaware that they are signing up for service through multiple companies.
Original New York AG Lawsuit
Along with Northern Leasing, MBF Leasing, Lease Finance Group, and LSI, Golden Eagle paid out a multi-million dollar settlement to business owners in March 2013 as the result of a lawsuit filed by the New York State Attorney General. According to the lawsuit, Golden Eagle and its DBAs were responsible for deceiving merchants through the use of a shell company and then using that company to withdraw large sums from the merchants’ bank accounts long after their equipment leases had expired. Although the shell company was dissolved following the suit, Northern Leasing has continued to grow as a lease provider and may still be offering leases under the Golden Eagle name.
Current New York AG Lawsuit
In April 2016, the New York Attorney General filed a lawsuit against Northern Leasing Systems, Lease Finance Group, and MBF Leasing “for their fraudulent and deceptive practices that trap small business owners across the country.” Golden Eagle was not named in this lawsuit. The lawsuit alleges that Northern Leasing Systems and its subsidiaries knowingly deceived thousands of business owners into buying overpriced equipment and then abused the judicial system by filing suit in New York to collect on overdue lease payments. The lawsuit seeks to vacate default judgments obtained by Northern Leasing against business owners, enjoin the company and its owners from further deceptive practices, obtain restitution for merchants, dissolve Northern Leasing, and force the company to notify all three major credit reporting agencies that the default judgments have been vacated. This marks the second action that the New York Attorney General has taken against Northern Leasing Systems. Merchants who have been harmed by Northern Leasing Systems are instructed to file complaints here or call 1-800-771-7755.
For a more complete analysis of the primary company behind this network of lease providers, please see our Northern Leasing Systems review.
Golden Eagle Leasing Review Table of Contents
- Costs & Contract: Golden Eagle offers 48-month, non-cancellable equipment leases that often cost many times the purchase price of the equipment.
- Complaints & Service: Golden Eagle has received more than 700 public complaints.
- BBB Rating: Golden Eagle has an “F” rating with the Better Business Bureau and has received 430 complaints in the last three years.
- Sales & Marketing: Golden Eagle allows independent sales agents to package its equipment leases with other merchant accounts and has received an extremely high number of merchant complaints about its sales practices.
- Rates & Fees: How Merchants Got The Best Rates With Golden Eagle
Golden Eagle Leasing Statement Analyzer
Find hidden fees, pricing errors, and overcharges in your Golden Eagle Leasing merchant account. Not with Golden Eagle Leasing? That's ok, we can find excessive fees in any statement. In fact, We've found $725,402 in total hidden fees in 2019 already! Submit a recent statement to try it out for free.
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Our Opinion of Golden Eagle Leasing
An All-Around Terrible Option
Although Golden Eagle Leasing is a lesser-used DBA of Northern Leasing, it appears to offer the same expensive, non-cancellable contract terms that its affiliated companies provide. We do not recommend that merchants sign any contract with Golden Eagle at this time, and we advise business owners to carefully read the terms of any lease before signing up for service. Please see our Northern Leasing Systems review for a full breakdown of this company’s contract terms and to understand why it rates as the worst equipment leasing company in the merchant services industry.
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About Phillip Parker
Thank you for reading my review. I hope that it has helped you with your research.
My Qualifications
I'm a former credit card processing sales director who left the industry to start my own a small business. From the time that I starting working in the merchant services industry to when I left to write about it, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this insider knowledge to myself, so decided to build this website to help you research which providers to use and how to save money on rates and fees. I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers here. Simply scroll to the top of the page to find the search bar. You can also message me if you need any guidance.
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Its been a terrible process trying to get rid of this company, we have been with this company for 8 years so the minute we try to cancel everything has been nothing but bad experience with them. Every time we think that we had already done everything possible to get rid of them and cancel, a new withdraw has been take of from our account and if I call them back they always have a run around to excused the withdraws knowing that is already canceled. They still getting money out of the account always making new excuses for this scams. This company is horrible I will never even recommend this company to my worst enemy. This company is an scam and their employees are well trained no heart total cold hearted people.
My 48 month lease is over. I sent back the machine and pinpad. Theyre accusing me that I sent in the wrong pinpad. Am i the only one with this problem?
From The Editor
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I need help. I have been scammed out of 10 years of leasing payments to this company. I have not had their equipment for 10 years yet they continue to take money out of my account. The employees are rude and not helpful. I have cancelled this account several times, they will not cancel the account. I put a stop payment on the account
Have you found any solution? We have same issue
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Are you with Golden Eagle Leasing? Learn how to resolve this complaint.
Has anybody been able to get them off their backs? I can’t believe that I am still dealing with them after 18 years! The stupid card reader has been paid for 100 times over. We had a four year lease and they were still charging after 6 years. I called them and they made circular arguments intended to confuse and insisted we still owed monthly equipment payments. Eventually I blocked them with my bank. Five years later around 2010 or so, I get threatening letters demanding the equipment back and over three hundred bucks or Iwe would be reported and charged off. I sent a check and the equipment. Now every year I get threatening Final Demands. The last one arrived yesterday claiming a $975.70 balance on something I haven’t used in 10 years and is completely worthless. How do they get away with this after they were already beaten in court? What are my options? These bastards can continue to terrorize and ruin credit histories with impunity? Has anybody here found a way to fight them without having to hire a lawyer?
Golden Eagle keeps sending me a notice that they can’t debit my account$57.41 for cc machine leasing. They want a voided check so they can debit me monthly. Thing is, they ARE NOT my cc leasing company. Glad I checked here for fraud alerts. They are CROOKS & need to be taken down!
Golden leasing company work with merchant service and charge thousand of dollars for many years for equipment that cost less than five hundered dollars and they profit by not allowing you to cancel the lease which you never know you had with them as they tie up with merchant service and they do not disclose these policies. Please be careful and do not lease with them or else you will lose thousands of your hard earned dollar to these folks who are not in right kind of business.
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Are you with Golden Eagle? Learn how to resolve this complaint.
You are so right. They have harmed by business under false salesmanship. I need to get out of this and don’t know how to go about it. They are the lowest of the low.
This company is terrible. They are taking money out of account that I have not given permission to do so.
they are not even providing service.
Never sign anything with this company – they do not return phone calls and make excuses for any issue you bring up to them. They are a scam
Not sure why they keep calling me. asked them to stop. Have know idea how to make it stop. Calls saying they are with a lawyers office when asked which one they hang up.
From The Editor
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Avoid!!! After 2 years having received my equipment, I get charged a $150 restocking fee. Called and finally spoke to someone after 5 transfers and a 20 minutes wait who explained this. Wanted payment today. I said next month. Said I have to call back in October and hung up. Lower company with poor personnel
From The Editor
This Post Might Help: Cancelling a Merchant Account Without Paying a Fee
They are threatening me. I had billing after equipment was returned. I was attached to a rip off merchant service paid until merchant service contract was over only to find equipment still had to be paid. Not what was told to me. I blocked payment and am constantly being harassed over less than 400.00. I do not or ever will feel I owe them a penny. I paid per month for over a year without even having the equipment or service merchant. And the fee kept going up from the promised 65.00 per month for nothing towards the end of contract these companies were taking over 200.00 per month. I simply blocked them from taking any more money and am now being harassed with very scary threats.
From The Editor
This Post Might Help: Cancelling a Merchant Account Without Paying a Fee
This pseudo-company is a complete scam. Never sign a contract for any of their equipment. We signed a lease-to buy agreement with what turned out to be an independent agent representing them in 2008 for a 4 year contract which then would ownership of the equipment. Foolishly, we allowed them to take $40.15 a month from the business checking account. When we moved our business in 2012, we tried to contact them to finalize the arrangement, and since we had paid over $1900 for a $400 piece of equipment, we thought we were through with them; however, they continued to charge our account monthly. We tried 4 different times to contact them and have them stop the withdrawal to be told that the contract was still in force. They were impossible to get hold of and if you did get someone to answer the were totally rude and unhelpful.We stopped payment on our account only to have them change the amount to $40.17 and continue collection. We finally had to completely change our bank account to stop payment. This finally led them to contact us today and if we paid a one time payment of $175, they would close the account. We agreed to this total ripoff just to get rid of them. If we didn’t pay that they would leave the contract in force and report it to the credit agencies. Never do business with this company or any of its variations and warn others to avoid.
This post will help: How to Report Bad Credit Card Processors
-Phillip
This company is horrible! We terminated our lease YEARS ago, and were unaware that they were still taking money from our bank acct! When we told them we had not used cc “machine” in MANY years, they proceeded to harass by phone and by mail, threatening OUR credit! We have been in business since 1945, and our credit is spotless! This company is the worst!!! BBB score- F Our BBB is A+! We have been fighting them since last year! Our lawyer will sue them. This is ridiculous.
This post will help: Cancelling a Merchant Account Without Paying a Fee
-Phillip
This is a terrible company. One of there sales Reps Jack Bridges sold me this equipment. He said it was a month to month lease. No contract for the equipment or the processing. Just a 60.00 monthly lease. After many years of using there services si find out that they been taking out 89.00 A month. You try calling them and you get no answers. I just retired and been trying for almost 6 months to cancel there service with no luck. I called jack Bridges he won’t return my calls . They took out the 89.00 while the business was closed. I Retired. I had to cancel my bank account for them to stop taking out money. Now there sending be statements saying I owe them back payments. How can a company get by doing business like this. I called the BBB got no help there. So all I can do is put this on the internet. And I hope people read this and stay as for away from these people as possible . there a horrible company. Ronnie Palmisano
This post will help: Cancelling a Merchant Account Without Paying a Fee
-Phillip