High Fees !!!!
Written: May 29 '08 (Updated Jul 14 '08)
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Product Rating:
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Pros: Deposits on time
Cons: Fees are way to high!!!!
The Bottom Line: Dump Nova / Elavon & use Heartland Payment Systems.
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| mechspkg's Full Review: NOVA Information Systems, Inc. |
All transactions were correct & timely. As long as I paid the high fees. But somehow I felt that an average 3.5% of my sales over the past 2yrs seamed high. It should be noted that processing company sales people all promise low discount rates but never mention that amount of additional fees you will be charged. To find the real world cost of accepting credit cards, divide the total monthly charges by the total sales processed. This will take into account the higher rates you pay for you customer using a rewards card. A company rewards card could cost you 4.5% - 5%. I contacted Nova, now Elavon, to see if I could lower my fees. The sales person was very nice. She faxed over a new contract which she stated would lower my rates. In the contract I found that they wanted to charge me a new account start up fee. I had been with them since 1993, have never had a customer complaint or charge back. My average sale in the last year has been $450.00, with a $20k per month total. I felt this new contract was unacceptable, did not sign it & filed it away as a reminder of the experience. When I called to cancel my Nova / Elavon account, they stated they were charging me a cancellation fee of $295.00. This is just unacceptable!!! I wish I could just except cash but no one seams to have any. I have signed with a new processing company. When I have been with them for a few months I will post an Epinion of them, with the real world total transaction percentage listed.
July 14,2008. I have been with Heartland Payment Systems for a full month & have just finished checking my statement. I am glad to say they have delivered on their promises. The total fees charged are 30% less than I was paying Nova / Elavon. That worked out to $175.00 more for me this month. Nova / Elavon did send me a monthly newsletter, I never received one when I was paying them, and they also sent me a statement with $9.00 in monthly fees now due. I have a call in to them, but they have not responded.
Recommended:
No
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Epinions.com ID:
mechspkg
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Reviews written: 1
Trusted by: 0 members
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