Wednesday, May 25, 2011

ordinary, but ugly run of the mill banking greed

For four years, I had a small retail shop. When the economy got really bad, I was compelled to close it (last November). Being in retail, it's pretty much a necessity to take credit cards, so I signed up with one of the processors, First Data. Well, after three years of outrageous monthly fees piled upon fees, plus a yearly "compliance fee" of a couple hundred dollars, I decided to close my account. I still had 6 months on the contract, and so I've paid a monthly fee since then to NOT use my account and avoid the "early termination fee". When the contract was up this month, I contacted them to close it. Well, guess what? There is a seventy five dollar "termination fee" to close the account!

When are their outrageous profits enough for these people? I'll tell you this, when the revolution comes, they are going to be the first up against the wall.

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