Heads-up regarding merchant services thru Costco

I just switched over to Costco for merchant services (credit card charges). When I spoke with the initial representative I very strongly told her that I want to make sure that their charges are taken out monthly not daily. It's just way too confusing for bookkeeping purposes to have those charges taken out daily. I made it very clear to her that this was the one thing that was non-negotiable for me. I purchased a terminal from them, got all set up and went through my first day with them as my new merchant services. Two days later the deposit went into my bank....less their charges. Wait...what happened to the charges not being taken out daily?!

I spoke with three representatives before I got a straight answer. I was finally told that the company decided to make my contract a daily charge contract. No phone call or email to me to let me know this. Now, when you cancel service with them before two years, there is a $95 charge for canceling. I am pretty livid at this point. Alot of time has been wasted and now I'm battling to make sure I'm not charged the $95. Not that it is a huge amount of $$, it's the principle and very bad business on their part.

I highly recommend staying away from Costco for merchant services.

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Comment by Shelley Hancock on April 13, 2011 at 5:37pm: Oh, Theresa.....I wish I would have known this. I purchased a new credit card machine through Costco and they would not refund it even though I canceled service with them immediately. I have been with the same processing company for many many years but you know how it goes...we're always looking for a better deal! Thanks for the info and I hope that it helps one of our fellow Esty's before she contacts Costco.

Comment by Theresa on April 13, 2011 at 5:02pm: Hi Shelly I'm sorry to hear of your frustration. It took many calls and a lot of research but I am with a company called Merchant Service Solutions. Their website is DiscountedCreditCardProcessing.com they have great customer service no contract no start up fees and my merchant machine was free. For anyone interested you can also call Ken at 480-223-4881 X 13. I have been very pleased so far.

Comment by Sandee Regier on April 12, 2011 at 6:14pm: Thank you Shelley, I will make note of this and wish you the best in your pursuit of fairness. Wake-up Costco! Have they gotten so big they don't need to help customers get a fair deal anymore?

Comment by Robin A Townsend on April 10, 2011 at 10:49pm: Thanks for this information!

Comment by Mildred (Millie) Lange on March 22, 2011 at 5:02pm: Thanks for this feed back.. as i have been looking into this type of service