Avoid at all costs
Wholesale Merchant Processing is mugging with a contract. They contacted me and I signed up because I was assured of low rates, which turned out to be 3 times what I had been paying before. When I called to complain and cancel they told me I would be assessed around $3,000 in a cancellation fee. I decided to just ride out the three year contract and chalk to a bad experience, they then arbitrarily cancelled my account and took out almost $1,300 without notice. When I finally got through to someone about this, they constantly hid behind their contract terms. Better Business Bureau gives them a D- and they are dozens of reviews not too different than my story except many talk of charges never deposited at all. Do a search on them and find out the ugly story.
UPDATE 4/17/3: I had contacted the BBB and they contacted these people with my complaint. The attorney's stood behind the supposed terms of the contract. I have read it in detail and it turns out what they claimed was not true. There is a cancellation fee of $395, not the thousands they claim, nor is there any mention of an cancellation because of inactivity. I have not heard back, though when I contacted their customer service about getting my $1,300 back in 60 days if I processed some cards (which I did, my own), I was told that management would contact me and that customer service could not help. I have not heard from them.
WholesaLE Merchant Processing fails to deposit funds..
WMP failed to deposit over $5000 from sales they collected into my account.
When I contacted them they told me my account had been frozen due to chargebacks. The chargebacks have been deducted from my checking account, no money has been deposited.
I have called them repeatedly to inquire when the funds will be deposited, they refer me to another number, someone who processes for them. The next contact tells me that they do not know when the funds will be released, just wait. I call twice a week, my calls are transfered from person to person, ultimately to voice mail and no one ever returns my call.
I have been waiting approx 2 months, still no funds. I have been told again, wait but no one can tell me when.
I am a small independent business. My husband died in August from cancer, I can not afford to keep waiting, this is alot of money for me.
In the meantime, I can not use my credit card terminal for fear the funds will not be deposited. WMP also continues to draw monthly fees from my checking account.
I have been using them for 3 years, and have had occasional chargebacks that were not handled in this manner. They have occasionally been slow with my deposits but nothing like this. My contract ends in December, I have told them I will not be renewing, is this a coincidence?
THE BIGGEST SCAM AND RIP OFFS ON THE INDUSTRY!. This company is a rip off! They have over 28 complaints filed against them. They are being investigated by local authorities for fraud and other illegal activities. We went to them because we believe in supporting our local businesses and what a huge mistake that was. Since we started processing our customers credit cards we have not recieved a single dime from those transactions. The services we provided to our customers has already been done and now we are out our money. They have stolen it and justify that their risk department has to validate our invoices and receipts with our customers and that they are just waiting for our customers to call them and verify that but calling all of our customers today revealed that non of them had been contacted and now WMP is not responding to our phone calls. We are now 7 days with out operational funds for our company! We have been forced to have our corporate attorneys get involved with this today. Do yourself a huge favor and look elsewhere for all your merchant processing needs! I am now going through our bank to have all our transactions done. To validate my claims on this review go to "ripoff" or the Oregon attorney generals office and review all the complaints this business has against it. The Better Business Bureau has a good selection of complaints against them. We are an accredited BBB member so it wasn't hard digging up all the people this company screwed!