To whom it may concern,
I've had an awful experience with a merchant account company called Paysystems (http://www.paysystems.com
). Everything from the (unmentioned) holdback charge where they hold about 6% of your sales for 6 months to the 11 weeks of having my money and not paying me.
Plus, their customer service is terrible. Every time I call, I have to go over my entire issue with them. It's like they don't keep anything in the computer.
Their customer service system has big trouble with letting you talk to
a supervisor. Plus, they don't generally allow you to speak to the Settlements department. I spoke to them once, but it was a miracle.
Paysystem's settlements ONLY go on Thursdays. If there is a problem with something, they don't care and they won't make a settlement on a different day. You'll have to wait a week.
Right now, they are holding a lot of my money. Their system wouldn't work with my business savings account. Someone should have been able to diagnose this problem far sooner than they did. I called my bank and Paysystems many times and nothing worked; each time, I waited a week in between attempted settlements, of course.
They were finally able to make a single settlement into a different bank account. However, the customer service agent promised me that I could email him Friday with the results of the attempted settlement
and he would immediately make ALL of the other settlements that bounced back. Well, he was nowhere to be found last Friday. Now, it's Monday and I still haven't heard a word from him.
In short, Paysystems deserves two big thumbs down. They would NEVER be able to conduct business like this in America and get away with it. Things are obviously MUCH looser in Canada. If you need a merchant account, then look elsewhere.